Stability In Times Of Uncertainty
Remember when? In the early 2000s and again in 2008, alarm bells rang about the economy, the bubble, and more. And then again, the same alarm bells rang just over two years ago as COVID restrictions were implemented across the nation and uncertainty was thick in the air. Yet, the alarm in each case led to very different outcomes.
In the early 2000’s we entered a prolonged recession; many real estate agents left the business, and real estate brokerages shut their doors for good. Like then, the past two years have been a wild market where many were left scrambling to keep up. The loud voices predicting catastrophe were consistent between these two-time frames. And there were winners and losers in both instances. With every market shift, organizations, businesses, and people are prepared and equipped to take advantage of the change, grow their business, and come out ahead of the game. At JPAR – Real Estate, we are one of those few who have a proven track record in up, down, and sideways market cycles.
My challenge to those of you reading this blog post is to stop clicking on content with the hope of uncovering an insight that will tell you what is going to happen next month or next year. Instead, double down on you, your organization, your strengths, and what the next best step is for you. What positive action can you take today?
If you feel uncertain or concerned about your current situation, step back and do a personal and business SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. This exercise will help you put things into perspective. At JPAR – Real Estate, we have an industry-specific SWOT exercise that allows our independently owned and operated brokerage leaders to grasp where they should be focusing their time, energy, effort, and money.
When you are clear on your value and how it will save agents time and money, you can quickly seize the opportunities to thrive in any market.
It’s just math. JPAR – Real Estate leaders and franchise owners know that real estate sales professionals are more likely to explore the option of a flat fee capped financial model in shifting markets. Why? Our model enables the sale associate to keep more of their commissions at a time when they have fewer commission checks coming in.
Our most successful talent attraction specialists know they must be able to articulate how agents inside our model can provide the same level of service to their clients without investing more time, all while retaining more of the commission dollars for business development and marketing.
Our basic message?
“Do the Math,” as our real estate sales associates know, they can take home the same amount of money or more despite a market slowdown and “No Sacrifices,” meaning you don’t have to give up anything in terms of technology, support, or training.
So here is my question…
What’s your plan? If pending deals in your market drop by 10%, what will you do? Scale back advertising spending? Shift to a social media engagement campaign?
If you do not have a plan and need help, contact us at www.jpar.com, and we would be honored to help. It comes naturally to us as we already provide training and resources to our owner-operators to help them plan and prepare for all market conditions.
During any market shift, it’s critical to be part of the right team. To know who’s in your support network. What friends, family, and professional relationships you can call on in a time of need. One way we support our owner-operators is a “Friday Owner Roundtable” led by a senior business consultant. Besides supporting each other and sharing best practices, we also provide insight and perspective to other owners that may be going through local market shifts.
Market shifts happen constantly; a new competitor enters the market, a major employer shuts down, or the national economy turns. Whether local or national, the ways to lead through change remain consistent, and having the right partners to help you not just navigate but also capitalize on that change is perhaps the most important choice you make. If that sounds like a place you would belong, we should start a conversation.
