Wow. It’s been a year since our first virtual eventand the recent June Inman Connect event generated a sense of optimism mixed with a sense of greater industry responsibility. Such a significant change!
As Ferris Bueller would say, “Real estate is growing fast. If you don’t find a moment to look around, you can skip this. ”
Connect was at that time to look around. I’m still catching up on replays, but I left this event feeling opportunity to understand that we are living in a time of rapid growth.
In short, wealth is in niches. Let’s take a look at my 3 day experience.
The “new standard” in leadership, marketing and profitability
In the manual:
Brad Inman said it best the first day: We cannot afford to make housing a luxury item.
If you are a real estate professional, you are engaging in an extensive conversation about housing affordability and leading-edge standards, ethics, diversity, equity and accountability.
As organizations like NAR, RESO, MLS, and vendors seek to change the status quo to make the industry a better, more transparent, connected industry for consumers, agents and brokers who sense change must learn to let go of the old and embrace progress. also opportunity…
It’s all around us. New business models, real estate partnerships with iBuyer companies and value-added concierge services open up new opportunities for building and developing brokerage firms and teams, adding new training programs and expanding consumer knowledge.
The empowerment of brokerage firms creates a space for conversation, celebration and alliances that expand. long away outside the walls of brands into a diverse world that welcomes buyers and sellers and works hard to eliminate discriminatory practices.
Every agent, broker and seller is a representative of this leadership. It’s time to work together and own it. Collaboration is back.
With Clubhouse lead generation, Instagram branding, better marketing messaging, and engaging brokerage services – ready-made strategies that work are out of all sessions!
- Mailings still work: Especially now.
- Email is a 360-degree strategy: Social media is hello; Email hug!
- Brokers should automate for their agents: Be a one-stop shop for agency marketing.
- Become an Integrated Services Broker: Expand your value-added services and help agents upgrade their pricing tier to increase profitability and improve marketing messages for recruiting and retention.
- Before deploying any tool: Does this lower the cost? Does it increase profits or income? Does this solve the problem?
- What in? Conversion, not hype.
It was a year of big sales, rapidly changing inventory, and a blurry work-life balance.
Wendy Papasan’s Profitability Session and knowing your numbers was like a crash course in real estate finance, but it was awesome!
You may feel seen, but the conclusions were valid, and let’s be honest, we’re not talking enough about personal financial well-being in real estate.
- Get a profit and loss statement customization. Start by looking at this every week. Then every month. Get one for yourself and one for your business.
- Keep track of your wealth, not just your income.
- Work half of what you do… Many agents go broke just because they don’t properly set aside self-employment taxes or don’t account for hidden costs.
- Managing expenses is more important than generating income.
- When you make a purchase, make sure you get at least double the return on your investment.
- Reduce the cost of acquiring customers who not transformation.
- Raise your sales price, bid a higher price, change your brand, or create a new neighborhood with a higher price tag. These actions will significantly increase your bottom line.
What a week! Conversations still happens. Inman Connect is the place to take a moment and look around.