Many people in the real estate industry are in the middle of a market shift. A shift isn’t necessarily a good or bad thing, it just is. Shifts level the playing field across the industry. New and experienced agents alike are now playing a game where we aren’t 100% clear on what the new rules are. The good news is that it creates an opportunity for those willing to do the work. With all the uncertainty one thing is for certain, lead generation is still the name of the game. If we boil it down to its simplest form really all that has changed is the math of your business.
For example: In 2021 you may have needed 150 leads, to set 100 appointments, to take 80 listings, to close 70 of them. The new math may look a little different. In your search for the motivated you may need 300 leads to set 100 appointments, to take 50, to close 30.
In other words, if you do exactly what you did last year, activity and lead gen wise you’re likely to go backwards in income. The impact on your cash flow due to lower conversion rates at every level can be huge. (contact to lead, lead to appointment, appointment to contract, contract to close) Until we know the math of the new market the only thing we can do is load the top of the funnel, track our numbers, and pivot activities as needed until we’re clear on the math of the new market.