Going out of Business?

@natale_realtors A lot of companies in the real estate industry will go out of business It’s sad that many people may lose their employment when these businesses go out of business. It’s a necessary evil when the industry got fat on itself when times were good, and now that the market has changed and there’s simply not as much to go around, it’ll be a turn for those that don’t manage their business within its means. The larger than life companies who spent too much or were over-leveraged will unfortunately be going under. There’ll be plenty of more well-off companies that eat up the riskier ones that can’t compete now that the transaction count is so far down. If companies are not profitable, the industry will start collapsing inside of each other. We’ll see countless brokerages, mortgage lenders, title companies and other ancillary businesses close up shop. It’s a sad truth, but it’s coming, and coming fast. #realestate #mortgage #business #businessowner ♬ original sound – Natale Realtors

To stay in business, agents and their leaders will need to level up for 2023.

Transactions will be down 30% in 2022. Deals are getting harder and harder to put together. Finding clients is getting harder and harder. Managing expenses is only getting more difficult in business and in life. Agents will need to level up their skills from 2021 & 2021 in order to thrive in the market to come. You’ll no longer be able to list a house and have it sell in 30 minutes. It may take a strategy to sell it in 30 days. Strategy that includes marketing, pricing, and negotiating. Leaders will need to be involved in the day to day market to best help their agents succeed. If not, they’ll be out of touch with really what’s going on. They won’t be able to know the exact conversations and how to deal with the best practices. Leaders need to be more involved than ever before to help their agents and their clients win.

Agents will also need to take the initiative. Listen to podcasts, read books, look at the market data daily, explore different marketing opportunities and never stop resting until their business is where it needs to be. There’s so much information out there. Being disciplined with their time, agents will have the ability to learn so many new skills to make them a better resource to their clients and community.

If you’re looking to get into real estate or grow your business with a broker who cares about your success, don’t hesitate to contact our team today to set up a call.