Every economy has cycles. There are good times and bad ones.
And it’s very easy to get complacent when times are good. Customers come flocking to your door with very little effort on your part.
A classic example of this is your average real estate agent.
Right now (in Sydney) real estate is hot. There are buyers queuing for any available property. Properties at auction are selling for hundreds of thousands over the reserve.
Rental properties are scarce.
So agents can afford to sit back and have buyers come to them. And they become lazy.
They can afford to churn and burn. There are plenty of prospects out there. Why bother providing any meaningful service or form relationships?
But the wheel inevitably turns. And the complacent will wonder what hit them.
Right now we’re looking for a property to rent. But in a couple of years we’ll want to buy another one. So we’ve been talking to a lot of agents.
Their attitude goes from “Just look on the website to see what we’re advertising” – aka, “I’m not really interested in you” to the smart ones who say…
“Tell us exactly what you’re looking for and we’ll put you on our database. Then when a suitable property comes up, we’ll call you. We almost never have to advertise as we find prospects on our list first.”
Who do you think we want to work with?
Business mirrors life. It is the quality of your relationships, not the quantity that will ultimately determine your success.
So go out there. Build a database. Keep communicating and adding value. When times are good, you’ll do great. And when the wheel turns, you’ll probably not miss a beat.
Ask yourself, when prospects have choices as to who they want to deal with, will they choose you?
Barbara & Rashid.
P.S. We’re looking to rent a 3 – 4 bedroom property on Sydney’s North Shore. If any of you know of someone who has something decent, please let us know.