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Real estate strategies have life cycles and all eventually fade away or become less effective. Many agents do not recognize these changes in trends and continue to do the same strategies without realizing it is time to pivot.
Changes in results can be a slow fade, and this leads to a desire to hold on, hoping the trend will reverse back to the results received in the past. I’ll not only share the trends that died or that are dying but also alternatives that are trending up right now, leading to higher conversions and more closed transactions.
1. Door knocking
Door knocking is a strategy that can still yield results, but the effectiveness has greatly diminished, and there are better ways to build your business. We witnessed a case study of the value of going door-to-door diminishing in effectiveness during the presidential election last year.
The losing party doubled down on the strategy that had helped them win elections in the past of going door-to-door in swing states. Meanwhile, the winning party focused on podcast interviews and new media sources. While this may not fully explain the outcome of the election results, it is notable and does offer insight into the effectiveness of the traditional practice of door knocking in real estate.
Just as I mentioned in the previous example, there are alternatives to promotion. Prospective buyers and sellers are spending an increasing amount of time on YouTube, social media and listening to podcasts. The search-driven outlets like YouTube and social media channels do make it possible to position your message in front of your ideal client where they are…