If you are a Boston real estate agent, you might be asking yourself some questions about your current brokerage. “Am I at the right real estate office?” “Can they provide me with enough listings and leads to be successful?” After all, rising interest rates are causing buyers and sellers to sit on the sidelines for an extended period. Let’s be candid; it was easy to sell properties when interest rates were at all-time lows.
As the buying and selling tide has significantly receded, it has exposed some harsh truths. Namely, most Boston real estate offices simply didn’t spend enough revenue on their own proprietary local real estate technologies and search engine optimization (SEO) to help them weather tougher times. Most real estate offices use off-the-shelf software. This doesn’t have the influence and impact of custom-designed real estate software. A custom, localized approach offers the edge needed to win during a stalled, or contracting, market.
In the months ahead, it is quite possible that you will see a lot of real estate offices either consolidate, merge, or go out of business. Adapt or perish has always been the golden business rule for countless years across all industries. Real estate is going through some dramatic changes right now, and it might be time to pivot within real estate to other avenues of revenue.
If you are experiencing a loss of commissions and transactions, it might be time to step back and see what your brokerage is providing for you. Is your current brokerage empowering you with new revenue streams or holding you back? Do they have the technical expertise to bring opportunities directly into your office? Does your real estate office have a sound business plan? What about the tech infrastructure to power you through changing times?
The Fall is a Great Time to Switch to a New Boston Real Estate Office
The Real-Time Availability Rate (RTAR) in Greater Boston right now is 1.16%. The Real-Time Vacancy Rate (RTVR) is 0.68%….