With an industry drowning in agent uncertainty, baffled brokers and laid-off affiliates, many are getting day-jobs and worrying about the state of their fate. Not unexpectedly, brokers and managers are in much the same boat. While it might appeal to the Pollyanna in some and repulse it in others, down times in any industry are good times to re-invest in education and professional development, not to mention some often beneficial business updating.
Education and Professional Development
Those extra initials behind your name are more than just a way to take up space on your business card. In fact, when you take a continuing education course, you might actually learn something! Agents today have a veritable buffet of choices for CE credits and courses. Consider a technology course, for example. And when the market is busy, contract clauses get blurry. Take this opportunity to sharpen your reading and comprehending skills for those oh-so-important forms you fill out. Your local association likely has on-going opportunities to hear from attorneys about form updates and changes.
Additionally, since “short sales” have become the buzzword of the season, why not sit in on a short sale class and get a little educated? Remember, keeping up with the current trends, no matter how dismal they might sometimes appear, will keep you at the head of the pack as the tides begin turning—and they will.
Business Updating
As for business updating, when times are busy we often let things like website updates and upgrades fall through the cracks. Why not use this downtime to re-organize your office and re-invent your brand? Go through paperwork and past files (be sure to keep copies of files in compliance with any local, state and office policy requirements). How is your computer operating? Have you looked in your “deleted” email file lately? Some people never empty it out and rumor has it you can accumulate thousands of old emails. Clean house. There’s no time like the present to get your house (i.e. business) in order. From the physical aspect of cleaning, clearing and organizing, to the mental aspect of planning, forecasting and budgeting. Oh, and don’t forget branding.
One thing agents should keep in mind is that their reputation and their brand is really all that separates them from the masses. Obviously a great reputation comes from providing outstanding customer service as well as being an agent other agents like to work with. Reputation also comes from having signs in yards and having clients and friends who sing your praises. Branding is a little bit different. Branding involves the image you want to be associated with in the market you work in. Think about how you would like to be presented to the public and then plan your promotional efforts and marketing budget around that idea. Branding makes an agent stand out.
So although slow times aren’t generally times to spend a lot of money, they are times to invest in ourselves. Energy spent on bettering your business is never energy wasted. In fact, such effort will prepare and groom you for whatever is to come. Most importantly, using your most valuable commodity, time, effectively, is what will keep you in the game, even during dry seasons.
