Real estate mistakes to avoid

After reaping the benefits of what has been a very hot property market for the past 12 months, it’s easy for agents to start slipping into some bad habits. When markets change so quickly, it can be hard to adapt, so it’s important to identify real estate mistakes to avoid, so you can quickly correct the course.  Here are five potential bad habits to leave behind this year.

Not Prioritising Prospecting

In real estate, the work you put in today will not bear any fruit for many months. When times are good, and people are wanting to sell their properties to capitalise on a strong market, it can be easy to let some of your prospecting work begin to slide.

However, when markets cool down, you could find yourself in a position where your leads begin to run a little dry. For that reason, it’s essential that you continue to focus on generating business, regardless of how great the market is. Continue to allocate time for prospecting and if required, look to find ways to enhance you current processes and find new ways to make the most of your expanded database.

Not Picking Up the Phone

When things are busy, it’s easy for small things to slide. Instead of calling a vendor to check in, you might just send a text. Instead of following up on a lead, you might just send over an email. While these options are easier and less time consuming, they are rarely as good as getting on the phone and having a genuine conversation. After all, real estate is a relationships business.

Prioritise making your daily phone calls and if needed, block out more time to both develop new business, as well as cultivate your current relationships.

Letting Systems Slip

When work and life become busy, it’s easy to let things fall through the cracks. If you’re not following up with leads effectively or you’re not marketing your current listings as well as you possibly could, then you may not have the right processes in place.

Look to the leading agents for ideas regarding how to manage systems and what tools and technology they are using to help them. Building and maintaining good systems is how you can continue to scale your business, make use of marketing automation and avoid falling into bad habits.

Taking On Too Much

If you’re struggling to keep on top of things and there are not enough hours in the day, then that might be something you can quickly fix. Consider expanding your team and adding assistants or other members where they are most needed. Look to remove yourself from non-essential activities that don’t generate revenue, and you’ll not only find yourself being more productive, but you won’t be overwhelmed by having too much on your plate.

Working Too Hard

Given the real estate industry has been in start-stop mode over the last 18 months, it’s easy to forget that you do need time away where you can recharge and refresh.

Many agents work throughout the holiday period as demand was high from both vendors and buyers. Make sure you take enough time away, so that your motivation remains high. Not only so you can continue to perform at your best, but to ensure your physical and mental health needs are being met.

Download eBook

Free eBook

What are the essential features of a real estate CRM?

Download free

Burnout recovery is far more intense and time consuming when compared to taking off a weekend, or a few days to ensure you are looking after yourself.

Whitepaper

Guide to AI Adoption for Real Estate Firms

Is your real estate business ready for AI technology? Real estate technology leaders know that artificial intelligence (AI) brings unmatched opportunities for the industry. The technology is a gamechanger for owners, operators, investors, and tenants…

Read the Whitepaper

Reinvest in some more great content:

Webinar

Optimise Your Fixed Asset Accounting: Best Practices and Solutions

Find out more

Select your region

45000+

Clients

20.1m

Units

4.2m

Leases

300+

Partners

170+

Countries