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With the holidays around the corner and a new year on the horizon, many real estate professionals are taking advantage of a slow period to relax and shut off before the busy next year starts. Tasks like lining up prospects for January, staying on top of your professional connections and understanding shifts in the market can feel daunting to undertake at the best of times, let alone during the holidays. Above all, the busy holiday season pulls attention away from your active client’s house search process and makes it hard to get meetings with prospective buyers/sellers.
Many agents may take their foot off the gas pedal. But doing so misses an excellent opportunity to get a leg up on the competition in the next year.
Here are four must-dos that you can knock out in December to start your new year off right:
1. Understand The Market
Although business slows down in December, real estate agents should continue keeping a close eye on the market as the year comes to a close. Use the time you aren’t spending with clients to research what has changed in the last year. Understand what types of properties are moving and which aren’t. Figure out what the typical client is looking for out of a purchase and note areas where those types of properties are frequently available. Chart out areas of new development that will be entering the market in the coming year. By assembling and processing this information before the year begins, real estate professionals can save themselves time and energy in January and instead allocate those resources to supporting clients through their search process.
2. Engage Your Network For Referrals
Quarter one of 2020 is prime time for new buyers to enter the market, and real estate agents can start working now to develop partnerships. Reach out and engage your network to begin sourcing prospects. Once you establish your top targets, take advantage of the holiday season to send a card or an email to stay top of mind.
Additionally, don’t forget about your previous clients. Drop by high-value clients’ homes with a small gift to wish them well. Small gestures like this will keep you top of mind during the holiday season — something that is especially valuable, as seasonal gatherings are a place many potential buyers will be asking friends and family for agent recommendations.
3. Utilize Technology
Working smarter is critical, especially with easy access to innovative software tools that exist in today’s technology-driven world. There are countless opportunities to utilize digital aids to make your life easier as a real estate professional. For example, if you have considered testing a new CRM system or want to expand into the world of digital advertising, the slow time around the holidays can serve as the perfect time to experiment and learn new technology. Just remember, the best solutions are ones that create more time for interpersonal interactions with clients or prospects, as well as improve the quality of those interactions when they occur.
4. Expand Your Professional Network
Entering the new year with secure professional connections is an invaluable asset and a goal you can start working toward in quarter four of 2019. While client showings are slow, follow up on any lingering meetings with new professional contacts. Closing the loop with a mortgage officer or contractor you have meant to connect with can serve you well in 2020.
Additionally, foster your existing relationships by sending cards or grabbing coffee with valuable professional partners. If you have a preferred electrician, plumber or chimney inspector, send them a card or a small gift thanking them for their hard work this year and letting them know you are eager to work with them more in the coming months. Although simple, these gestures can make the difference between you getting squeezed into a tightly packed spring schedule or being hung out to dry.
Hit The Ground Running
By working ahead, real estate professionals can start their year right and build momentum to lead into their best year yet. Slow time around the holidays can be used to prepare for the next year by expanding and solidifying a robust and engaged network, learning new technological tools and maintaining a great understanding of the market. By implementing these proactive tactics, you will kick off 2020 with all the pieces in place for success with both new customers and professional connections.