One important metric you need to know right now in your real estate business is the local transaction volume % year over year.
This will help you make better decisions in your business.
Are you outperforming the market, or are you below the market stats?
If your market is down 22%, but your income is down 50%, then this shows you that you are underperforming the market, and there is room to grow.
If you’re underperforming the market, it’s on you, which is a great thing to know.
One of the most powerful questions I heard in a session with Sharran Srivatsaa was this: “Did your business grow, or did the market grow?”
During the pandemic, many agents thought their business grew when, in actuality, the market did.
Now, with the market correction, many team leads are outperforming the market or sitting flat.
But being flat in a negative market is a great result.
However, the only way you can do this is by truly understanding your top-line and bottom-line numbers.
This is something I’ve been really focused on within our business in the last 5 months.
Real estate transaction volume is down around 30% across the US.
How do you combat this?
How do you make sure you’re not where many agents are right now?
How do you ensure that you continue to drive business and perform in line with the market?
Well, I can tell you how you don’t do it.
You don’t rely on referrals because no one wakes up in the morning saying, “Gee, I wonder how I can refer Timmy more business today.”
You need to increase your activities.
You must double and triple down.
Here’s what you can do:
- Increase your number of door knocks.
- Increase your number of cold emails.
- Increase your number of social posts.
- Increase your number of open houses.
- Increase your number of postcards.
- Increase your ad spend.
- Increase your number of cold calls.
You have to engage in more activity in this market because, for many real estate businesses, I’m sorry to break it to you, but in 2020-2022, your business most likely didn’t grow; the market did.
And if you don’t want to increase volume, you need to up-level your skills and reach out to my friend Vikram Deol to allow him to coach you for free in his insane free trial.
Activities allow you to perform alongside the market.
You need to have more conversations because all conversions happen in conversations.
CEO at Sheridan St.
The #1 lead generation and appointment setting agency for real estate
P.S. Whenever you’re ready to take your business to the next level… here are 5 ways we can help!
1. Test Drive The Sheridan St. Appointment Engine for Free: Get 3 Buyer/ Seller Live Transfers For Free: https://sheridanst.io/trial
2. FREE PROFITABLE ADS TRAINING: Learn more about how top performing agents and teams run ads in order to generate leads that convert into deals faster: https://sheridanst.io/7-figure-leads
3. GET YOUR APPOINTMENT ENGINE SCORE: We have had the opportunity to speak with top performing teams across the country about how they set appointments. We created a free tool that will show you how your appointment setting compares to other top agents/teams: https://sheridanst.io/appointment-engine-score
4. GET BOOKED APPOINTMENTS, LIVE TRANSFERS & IN PERSON SHOWINGS (GUARANTEED): Learn about how top performing teams and agents are implementing our Dedicated Appointment Engine in order to experience massive growth in their businesses: https://sheridanst.io/book-now
5. SEE WHAT OUR CLIENTS HAVE TO SAY ABOUT SHERIDAN ST.: Learn about what our clients say and how the program drives real results: https://sheridanst.io/