Real estate is a competitive industry. To find success, you’ve got to be passionate and tenacious.
The Chicagoland market outlook for 2023 is relatively sunny, but brokers will still face certain challenges, including a lack of inventory. Client education and setting realistic expectations for both buyers and sellers are must-do moves for thriving in the New Year.
Structuring your day in the right way can send your real estate biz to the stratosphere, so we’ve gathered some insights from top agents and industry thought leaders on the best daily practices you can adopt to grow your business and extend your reach.
Home prices in our area remain steady, and many are still moving to the Midwest in search of affordability. Some 67% of Millennial and Gen Z consumers are planning to buy in the next 2 years.
To attract these clients, it’s crucial to stay on the cutting edge of market conditions and the latest housing trends. Set aside a bit of time every day to pursue continuing education, read trade publications and blogs, and check out webinars and podcasts.
In addition, make sure you’re keeping up-to-date with the newest mortgage loan products, alternative financing options, available down payment and closing cost assistance programs, rate buydowns, and leasebacks.
In 2023 especially, it’s vital to utilize innovative ways to source new listings. Create a block on your daily calendar specifically for finding inventory, using a blend of traditional and unconventional methods:
- Go after FSBO and expired listings
- Mail a neighborhood or building tier that matches your buyer’s requirements
- Watch for life transitions in your network (marriage, divorce, having or adopting a child)
- Educate would-be sellers on social media
Nurture Your Ecosystem
Building relationships with potential clients and partners is one of the most important strategies for generating qualified leads and revenue.
Expanding your network through social media sites like LinkedIn, Facebook, Instagram, and TikTok is always a great idea. Make sure to check and respond to messages every day and maintain a regular, consistent posting schedule.
There are plenty of enjoyable ways to get out there and gain potential clients:
- Garden clubs and plant shows
- Yoga or Tai Chi studios
- Charity work and volunteerism
- Fundraising events
- Sports teams or fan groups
- Hobbyist meet-ups
- Art gallery and local theater openings
Genuinely connecting with your local community helps position your personal brand as the go-to for everything real estate-related.
Dive Into Your CRM
High-performing agents dedicate part of each day to leveraging their customer relationship management system to reach out to as many prospects as they can and stay in touch with current clients.
Your real estate tech stack can make a huge difference in your numbers with a minimal investment. Some of the most efficient platforms offer free or low-cost packages for small business owners. These tools massively increase your productivity and the effectiveness of your marketing efforts.
Keep your online audience engaged with a daily check-in, even if it’s just a quick personal note or sharing an article, a video, or a graphic you found interesting.
Starting conversations with your followers drives more traffic into your channels. Following your contacts and potential customers and interacting with their posts also helps elevate your profile.
Investing time in creating innovative branded content really pays off. Be even more organized and use an online social media scheduling tool to plan ahead. If you need some exciting ideas for different types of posts, we’ve got you covered.
Take a Moment
Every rockstar agent knows one of the smartest ways to be more successful is to have a work/ life balance. Real estate professionals work long hours, they have to be energetic, and ready to deal with clients in all kinds of emotional states.
Keep yourself in fighting shape with a healthy diet, your favorite physical activities, and time spent meditating or doing something outdoors. Don’t skip important family events for work. Take a mental health day, lie in bed, and watch your favorite movies.
The happier you are, the more client satisfaction you will be able to provide.
Make a Connection
Working for yourself and building your real estate business from the ground up is exhilarating and fulfilling. But part of your day should always be set aside to touch base with a mentor or colleague.
Even the most dynamic CEOs need a strong foundation. By staying connected with a larger team, you’ll receive invaluable guidance and knowledge from industry pros and expand your ecosystem.
At Baird & Warner Lincoln Park, we offer an unparalleled level of resources and support for new and experienced agents. Find out why we’re the best brokerage in Chicago and how you can join our team — reach out today!