Most people simply assume that the real estate agents are living the high life. It is far from being the truth. Real estate agents and realtors sometimes have to live from check to check, unless their commissions come in! Sometimes, the duration between the closure and its reflection on their account balance can be over 30 days. This disrupts the cash flow, and it can create a crater in the business resources. Downtime for any business is bad, and for realtors, it can mean missed open houses, seminars, conferences, and promotions.
Winters can be slow for business
Depending on where you live and where your business is, fall can be a dreary time. The real estate market is often slow during fall and its slumbers during the winter. Thankfully, once the sun starts shining the moods of the prospective home buyers again pick up, and the market somewhat picks up by the end of spring. So, how do most of the real estate agents see through these unforgiving winters and survive till another summer with the business still afloat?
How to survive the dormant market?
It does not have to be special powers or black magic. Realtors and agents who opt for commission advances can sail through the rough patches and find a more fertile market in the summers. The commission advances real estate agents vary according to their prowess and upcoming closures.
Do not let people forget you
With the advance cash, you can invest in some outdoor advertising during the fall. This can help you keep the name of your business alive amidst the snow and the wind. You might want to book prime time slots on TV, but if you are a part of the digital crowd, definitely go for digital local paid ads on Facebook, Google and other popular websites in your locality.
Keep refreshing their memory in creative ways
You can also take help from cheap but reliable postal services to send out “Thank You” notes, season’s greetings and postcards to your clients. This will help you get more reviews, recommendations, and referrals. Even fridge magnets, stickers, and calendars can do the trick! Did you know? Over 75% of the real estate businesses in the USA are a result of word-of-mouth promotions.
Work on your digital persona
Winters leave people lazy and reluctant to step outside. Make the most of this time to create your new CRM or revamp your old website with new client information. The world of digitization commands you to put all your client details and potential client details on that database and update it on your website. Having an up-to-date system will always tell you which strategy performs best and it will help you stay on top of your email list.
Commission advances are a great way to add some color and fun in the otherwise mundane lives of real estate agents and realtors. Now, other than paying credit card bills, utility bills and fixing old wiring, you can spruce up your business ideas while the world hibernates.