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24 September 2009

Fourth Quarter Game Plan

According to Wikipedia, in American football, The Hail Mary refers to a now legendary pass by Dallas Cowboys Quarterback Roger Staubach that resulted in the Cowboys’ last minute upset win in the 1975 NFC Divisional Playoff Game between the Dallas Cowboys and Minnesota Vikings, played on December 28, 1975 at Metropolitan Stadium in Bloomington, Minnesota. Since this event, any similar last-second desperation pass is now commonly called a “Hail Mary“.

Real estate is a lot like football.  A strong offense and defense, lots of practice, and good game strategy, and the ability to adjust the plan when needed, put the odds for winning in your favor.

We’re starting the fourth quarter of 2009, and real estate agents are faced with the reality of their goals. Where some are on track despite the market, others struggle to score by December 31st.  It’s time to focus on tactics.  Here are five plays real estate agents can make to finish strong.

  1. Update CMA’s for current listings, and meet with homeowners for price reductions where appropriate.
  2. Call agents who showed your listings, tell them about the price reduction, and invite them to show the property again.
  3. Add social media networking to your marketing strategy. Links are the soft touch in this high tech communication and Twitter and Facebook especially are becoming increasingly popular for this purpose.
  4. The clock is ticking down on the First-Time Homebuyer Tax Credit.  Call buyer prospects who qualify and encourage them to act now rather than waiting to see if the proposed extension is passed.
  5. Call every prospect in your database and qualify their readiness to buy or sell. Work with the motivated prospects to close by year end and keep in touch with the other for 2010 business.

Don’t end the year with a Hail Mary. There’s still time.  Keep your head in the game, stay focused, be prepared and never give up!

3 thoughts on “Fourth Quarter Game Plan

  1. Paulette,

    Really nice post and concise. However as a coach, I personally wouldn't include #3 for agents that are really trying (or needing) to crunch numbers in before the end of the year.

    Social Media is an excellent tool for #1 Learning and yes prospecting, but I see WAY too many agents putting WAY too much time (and faith) into it for business. Social Media/networking is a long-term-burn for your business and an excellent way to keep up communication with your clients.

    My #1? If you need to close numbers before the end of the year try the following:

    1. Do a search as to what neighborhood most listings are selling in
    2. Find the listings that are actually selling (i.e. 2 beds 2 baths under $350k – 1st time buyers)
    3. Research and know EVERYTHING about that area
    4. Then call some listing agents and ASK TO DO AN OPEN HOUSE!!!!

    I think this is soooo often overlooked and a direct "fish where the fish are" mentality. It's old-school and not as sexy as Twitter or Facebook, but, even being conservative… 50% of the people visiting are looking to buy homes (near future or in the future).

    Maybe this could be added to as a 6th to the list, but I would highly suggest this over spending a ton of time on Social Networking sites.

    Matt

  2. A plan should always be evolving anyway. If you find that you are short on leads one week, make sure you are spending that time getting more in the door by working on your website and SEO and getting your name and face out there in social media. There is always something that you can be doing to bring your business plan to the next level.

    -Tyler

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