Hey, it’s Big V, and today we’re diving into how to be a successful real estate agent in 2024. The real estate landscape is changing rapidly with rising interest rates and limited inventory. Many agents are sitting on the sidelines, feeling frustrated or fearful, but at Workman Success, we believe that leaning into the market during these times is the key to creating success.
Embrace Change and Take Action
In markets like North Carolina, while some agents are reporting a 40% drop in business, others are thriving and doing more transactions than they did last year. How? By deciding that inaction is not an option. The first step to success in 2024 is recognizing that the market has changed and embracing a proactive approach.
The Shift to a Skills-Based Market
We have moved into what I like to call a skills-based market. For those who’ve been in real estate since 2010, the market has been a frenzy. But now, simply showing up isn’t enough. In a skills-based market, agents who develop and refine their skills to guide buyers and sellers through transactions are the ones winning. Those who don’t invest in their skills are left feeling stuck or contemplating getting a J-O-B (Just Over Broke).
Here’s the reality: In 2019, it took 167 calls to get one closing. In 2020, it was 134, and in 2021, it dropped to 127. But in 2022, as the market shifted, it went back up to 165 calls, and in 2023, it nearly doubled to over 220 calls to get the same closing. What does this mean for 2024? You need to increase your effort and activity to maintain or grow your sales.
The Power of RAMP
At Workman Success, we use a program called RAMP (Rising Agent Mastery Program). RAMP is a comprehensive 10-11 week program that guides agents through every step of a transaction to boost their production by two sales a month. Imagine what an additional 24 transactions a year could do for your income.
Free RAMP Training
I’m offering RAMP free for 30 days to those reading this blog. Click for free access to RAMP for 30 days and take advantage of this powerful training. However, increased knowledge only leads to success if it changes your actions and behaviors. So, it’s not just about the training; it’s about doing the work.
Embrace Technology
To elevate your business in 2024, the first step is to adopt technology at a higher level. Technology equals leverage. Utilize artificial intelligence (AI), automate your marketing systems, and master your CRM (Client Relationship Management). Your CRM should be the hub of your business, helping you manage relationships and opportunities effectively.
Elevate Client Experience
Next, elevate your client experience and customer service. People do business with those they trust. It’s no longer enough to just be a friend in real estate; you need to be an expert. Use this messaging when reaching out to clients: “Before you or anyone you know does anything with real estate, make sure you call me to ensure your family is protected.” This shows your commitment to their well-being, not just your commission.
Have a Plan and Improve Your Skills
Finally, you need a plan. Your plan should include four pillars of income, each generating 100% of your revenue goal. You can’t work the same way you did last year; you need to work harder and smarter. Improve your skills through role-playing, practicing scripts and dialogues, and developing daily success habits focused on finding new business.
Measure and track the right activities. Success in real estate isn’t a mystery; it’s about putting in the work. If you’re willing to work hard, I’m ready to provide the training. Click the link below to get your free access to RAMP for 30 days. Dive into it and equip yourself with everything you need to succeed in 2024.
The real estate market is evolving, but with the right mindset, skills, and tools, you can thrive. Embrace change, leverage technology, enhance your client experience, and commit to continuous improvement. Let’s make 2024 your best year yet!
