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Improving your Real Estate Practice
Posted on: September 16, 2016 by Newmark Insurance
The real estate industry is a competitive one. With so much competition and a fluctuating market, it’s important to stay atop real estate trends and do your best to consistently improve. With that being said, secure your firm with a comprehensive Real Estate Professional Liability insurance policy and heed the following three tips.
Understand the shifting market.
Denny Grimes, a South Florida Realtor, explains, “There’s a coming downward shift in the market. Because of this, it’s good to be honest with the information you share with your clients, but also keep in mind that your clients could take this as you being overly pessimistic and choose not to work with you. Before telling your clients about this shift, consider how much you should share, and set a standard before your meeting. It’s not a changing market that will bring you down. Instead, it’s the “pause” that can kill your business.” Understand that there is never a shortage of buyers, only a shortage of sellers. Evaluate the market by determining how many days on average homes are staying on the market!
Focus on the market, not marketing.
Tailor your listing approach based on the market. Become the market expert and provide the insight and knowledge that buyers and sellers need in order to feel comfortable.
Take in clients you know you can help.
It’s best to work with clients who understand and appreciate your expertise, rather than attempt to tell you how to do your job. Try to work with clients who understand market momentum and who have flexibility in accepting your assistance.
At NewMark Insurance Services, we specialize in providing quality insurance solutions for real estate agents as we know and appreciate the challenges they face in order to accurately conduct their duties. To learn more, contact us today at (855) 777-6549.