Challenges facing Real Estate Agents and How to Overcome Them

Technology has changed the real estate industry for good but has also created some new challenges. You can now get CMA’s, neighborhood statistics, list of sold homes and much more online. It has also changed the real estate profession overall.  Agents today must stay up with technology or they will soon be looking for a new career. 

Here is a list of some of the challenges real estate agents face:

Low Inventory 

Another challenge is finding listings in a low inventory market. This can be a challenge for even the most seasoned agents. Without an inventory, agents do not have an income. No income equals no business.   

Online Competition 

Zillow, Homesnap, and Trulia have become very popular and the real estate agents are beginning to feel the bite they are taking out of their income. The large brokerages are also struggling to compete with them. 

Costly Lead Generation 

The cost of buying leads is soaring. Digital advertising is becoming more costly every day and the ROI is getting lower by the minute. 

The Influx of Inexperienced Peers 

With technology being as it is, taking an online real estate course to get your license is easier than ever before.  The new agent’s lack of experience and knowledge reflects poorly on Realtors in general, threatening the credibility of all agents. 

Solution 

To help overcome some of these challenges’ agents should start looking for more referrals. Sellers are more likely to trust a referral over a stranger when buyers are hard to find. Also, most sellers only interview 1 agent before deciding. 

Statics 

25% of agents generate more than 50% of their annual business through referrals 

Average agent earns 42% of their income through referrals 

82% of all transactions are referrals 

Agents usually seek out prospects in the final stages of the buying cycle. This is a flawed model as it overlooks the importance of the prospect’s journey. The agent needs to be nurturing contacts throughout the early buying stages. You need automation to help you stay in touch with all your contacts, otherwise, you would run out of hours in the day. 

Conclusion

Let’s looks at what must be in place if you are going to become a top producing agent:  

An OFFER your prospects can’t refuse  

MARKETING that’s automated  

Consistent TRAFFIC and CLOSINGS 

CONVERSION systems that are predictable and constantly delivering new clients  

FOLLOW-UP strategies that are immediate, constant and creating sales  

If you haven’t mastered these, then we need to talk. 

My signature solution will teach you how to identify and attract qualified prospects to you in a systematic fashion and being able to do so at will. 

You will learn how to create an irresistible message that will draw prospects to you and you only, you will learn how to automate marketing and systems for consistent traffic and closing.  

Finally, you will learn to follow up strategies to keep in contact with those who didn’t become clients. 

This signature solution will give you the tools to make sure you know what your vision and goals are and put systems in place to help you accomplish them beyond your wildest imagination. 

Next Step

To learn more about my Signature Solution click here. 

If you are ready to get on the path to more closings and a consistent income than you need to schedule a strategy call with me right now.  To schedule your call just click here. 

As you know there is a very high burnout rate in our industry. Don’t become an agent that flames out.  Schedule your strategy call now.