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Three strategies to adapt your business as the industry evolves

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“The only constant in life is change.” – Heraclitus

You’ve likely heard these famous words before. The world around us is constantly evolving and it’s our job to adapt our strategy as needed so we can not only overcome the challenges that arise with these changes, but be proactive in how we operate our business so we can avoid these challenges altogether.

The real estate industry has experienced many different adaptations over the years — external events, market fluctuations, triumphs and crises are just a few of the reasons for these industry variations. As you read headlines, you’ll hear experts describing the real estate market as ‘cooling off, normalizing, shifting, dropping, balancing, slowing down’’ and so on. But however you perceive the current market, we know the industry is changing and the key question becomes, ‘are you changing with it?’ Here are three strategies on how you can adapt your business so you can thrive in today’s environment.

Strategy #1: Maximize your social presence

Social media marketing is one of the most valuable tools you have to build brand awareness, market your skillsets, create new relationships and nurture existing ones. The average person spends just under 2 ½ hours on social media every single day, with some people spending a significant amount of time even higher than that! No matter what the market looks like, it’s crucial that have a strong social presence across all social platforms, heavily focusing on the tools that your target audience engages with most. If you’re currently only active on one or two platforms, challenge yourself to enhance your efforts and engage on one more. Maximize your social presence by being present, delivering value to your audience, and engaging frequently.

Strategy #2: Meet your customers where they are

Of all of the valuable lessons we’ve learned over the last couple of years as we experienced a pandemic and an ever-evolving way of doing business, the need to adapt and meet customers, where they are, may be the most important! As the pandemic hit, the industry was rapidly forced to find solutions on how to conduct business in a different manner. Virtual meetings, closings, tours, and open houses quickly made their appearance. As the industry continues to change, stay ahead of the game by keeping in mind that buyers and sellers all have different needs and in order to succeed, you may need to alter how you communicate and work with your clients. Technology is more important than ever, as it provides lead generation, lead nurturing and client service solutions that allow you to work with each individual in a manner that meets their needs.

Strategy #3: Stay educated on industry advancements and technologies

Our final strategy is simple, yet extremely effective! As the market changes, there is a constant influx of new solutions and advancements to help make the lives of agents, teams, brokers, and consumers’ lives easier. Your job as a professional is to keep yourself informed so you can provide further value to consumers and clients. Become the industry expert in your marketplace so that others look to you for assistance.

Although an evolving industry requires that you make changes, they don’t always need to be drastic. Focus on improving the three easy strategies listed here and find solutions that adapt with you. The most successful real estate professionals aren’t the ones who simply react to challenges by making quick, dramatic changes to how they conduct business. The most successful real estate professionals are proactive and focus on improving their efforts little by little so that they present themselves as industry experts and are always prepared.

To learn more about how to be proactive and adapt your business to the changing industry, explore Elm Street today by scheduling a one-on-one conversation.

Elm Street offers a full suite of marketing and technology solutions that are designed to adapt to you by helping you build your brand, fill your pipeline and help engage with and manage your relationships.

EXPLORE ELM STREET


About Elm Street

Elm Street offers a growing portfolio of real estate technology and marketing services with the goal of providing one vendor and one point of contact, fully fused into one singular platform – Elevate – to capture and nurture more leads into closed business. Elm Street’s portfolio of products and services allow busy real estate professionals the ability to streamline and automate their marketing and day-to-day business objectives by offering high-end IDX websites, lead generation tools, a powerful CRM, email, social, text, and blog marketing automation, recruiting and retention tools, and more. To learn more, please visit ElmStreet.com.

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