Success in 2024: Simplify, Focus, and Dominate Your Market

In the fast-evolving real estate sector, success increasingly depends on the principle that 'simple is scalable.' By honing in on straightforward, proven strategies and maintaining focus on the fundamentals of marketing and customer acquisition, real estate professionals can ensure sustainable growth and competitiveness as we advance into 2024.

A year of change: looking back on real estate in 2023

In 2023, some big things happened in the world of buying and selling houses. First, it got more expensive to borrow money for a house, which meant fewer people were buying and selling homes—about 40% less!

Then, a lot of real estate agents, more than 100,000, decided it was time to do something else and left their jobs.

Zillow bought Follow Up Boss.

And lastly, NAR lost a very important court case.

All these changes made last year a very interesting time for the world of real estate.

That’s not a lot, right? 😅

Uncertainty in the real estate market

As a result of these changes, a lot of people are worried and asking many questions because of changes happening in the real estate market.

They wonder about buyers, what Zillow will do with the information they have, and when it will be cheaper to borrow money to buy a house.

Even though things seem hard, some businesses did really well and made more money, while others did not do so well and made less money.

This is because some people knew how to do well even when things were tough.

2023 showed us all where we might be vulnerable….and that’s a good thing.

Your recruiting might be weak, your email marketing might not exist, you might need more billboards, your referral relationships might have gone quiet, and so much more. 

We all learned exactly what parts of our businesses to fix so that we could reposition ourselves in the community and so we could take control of our future in this industry. 

I don’t imagine you’re reading this (or would care) if you were one of the 100,000+ who have left so I’m going to assume you used this year to look in the mirror. 

Kudos to you. 👏🏻

So how do you move forward?

In 2024, there’s one thing that remains just as clear as it did in 2023…

The best marketer wins. 

If you’ve not seen it by now, you’re playing a game of attention, and the more of it that you can get the less you have to worry about what is going to happen in the market. 

You can influence what’s happening in your area if more people know, like, and trust you. That’s what I love about marketing, advertising, and sales. If you (the leader of your business) can keep your mind right, you’re always in control. 

So remember that as you enter this next year…

The best marketer will win. 

What can you do better?

For real estate agents who want to do better in 2024, it's important to mix together storytelling, making friends, following rules, and understanding money.

You should share interesting stories about the houses you're selling and spend more time getting to know people.

You should always stick to the rules to make sure you're doing your job well.

Also, knowing all about your business money will help you make smart choices. Know your numbers and know what is working and what is not in your marketing!

If do you these simple things well, you will grow your business in 2024.

So many experts are forecasting that interest rates are going to start coming down and the pent-up demand sitting in your community is going to finally break loose a bit so transaction volumes go back up. 

Are you going to be ready?

Here's a brief checklist to help you answer that question:

• Do you have leads coming in right now? 
• Are you creating a connection with those leads every day? 
• Is your sales process dialed so you’ll convert more leads than you ever have? 
• Is your CRM a mess or is it cleaned up and organized? 
• Do you know your numbers? 
• Are you building more of a network and becoming the Zillow of your market?

Interest rates coming down do not in any way, shape, or form guarantee that your production will go up if you’re not paying attention to what I’ve listed above. 

Take the time you have right now to get your business in order (if you haven’t spent all of 2023 doing that). The market conditions do not matter if these things aren’t addressed. 

Don't get distracted!

This industry in a lot of ways has shiny object syndrome. Do not get distracted with AI, creating “leverage”, this tool, that lead source. Remember, simple is scaleable. Lean in, first and foremost to what you know works. You don’t need most of what you think you do and you want to make sure you steer clear of automating your way out of a relationship with the market. 

These are the same traps that caught so many agents and team leaders with their metaphorical pants down over the last 12-15 months. Don’t fall into the trap again. 

Focus on doing fewer things with a higher level of mastery and I promise your business will grow (fast). I was on a call just today showing someone how we could add 87 transactions to their business in 2024 if we focused on three simple sources of business instead of the nearly 40 they have.

Final thoughts

You are in complete control of what happens to you in 2024. You don’t have to react to the market, you can influence it. 

Get very clear on what’s worked and what hasn’t and FOCUS. Understand your business and make sure you understand the path to your goals now. 

Your business already has the roadmap carved out to make 2024 what you want it to be if you understand how to read it. 

Marketing is messaging. Make sure you’re constantly putting the right message in front of the right people at the right time. 

Remember again, the best marketer wins the business. 

And… 

He or she who spends the most to acquire customers will win the game.