As we approach the end of the third quarter, it’s hard to believe fall and winter are right around the corner. Summer has flown, and hopefully your real estate business thrived during the spring sell seasons of Q1 and Q2. So even though the year’s end may feel far away, now is the perfect time to focus on how you want to finish out 2024 for a strong start to 2025. With that in mind, here’s what to do now to maximize 2025:
SEIZE THE MOMENT
Late fall and early winter typically see many agents scaling back on their work days due to increased family and holiday demands. This creates an opportunity for you to jump in without as much competition. If you’re able to maximize your working hours during this lucrative window you could harness some great leads and new business.
EXPIRED LISTINGS ARE YOUR OYSTER
Late summer and early fall is a great time to pull a list of all the overpriced homes in your market that failed to sell and are about to expire. Reach out to these sellers and remind them that fall and winter can be a great time to sell. Homes that are newly listed during this time will stand out more and buyers still looking tend to be more serious.
THE 80/20 RULE
No doubt you’ve head this one before: 80% of your business comes from 20% of your clients. Now is the time to reach out to your 20% for repeat and referral business. A nice way to make contact is to send everyone you’ve done business with a thank you card.
ANNIVERSARY REMINDERS
The first-year anniversary on deals you’ve closed is an ideal time to reach out to past clients. And if you purchased a home warranty from Fidelity, you will receive an emailed anniversary reminder. This is your chance to reconnect with clients with helpful info.
PLAN YOUR HOLIDAY MARKETING
The holiday season is meant for connection. Connect your business and promote your brand by hosting a Thanksgiving food drive or a holiday toy drive. Be generous with your time and energy. It’s a great way to build your brand and reputation in a positive way.
REVIEW YOUR BUSINESS PLAN
The end of the year is the best time to review your business plan and make changes for the following year. Do a thorough audit of your marketing budget to identify what fit your budget and met ROI – and what didn’t. Adjust accordingly.
THE NEW COMMISSION REQUIREMENTS
The new commission landscape as per the NAR Settlement became real in mid-August. The new reality requires foundational changes when it comes to working with both sellers and buyers. On the buyer side, new paperwork outlining your commission payment agreement must be executed before your can show clients property. On the seller side, no offer of commission can be made via MLS, or for that matter, anywhere else (although this is still being hotly debated). As part of your 2025 strategy you must become knowledgeable about the new legal requirements of the new commission landscape. Your brokerage should already be working to bring you up to speed.
But the best reason to maximize Q3 2024 is to pave the way for a strong and organized start to 2025. By focusing on the road ahead you make better decisions right now and in the days to come.