No matter the state of the economy, a real estate practitioner who sticks to doing the things she does best is likely to succeed, says Bernice Ross, CEO of Realestatecoach.com and columnist for Inman News.
Ross advises practitioners to do these things to hone their specialties:
- Identify your personal strengths by tracking your production over the last 12 months. List how each lead was generated, what sort of transaction each was, and which market niche best described each sale.
- Use that info to analyze your strengths and weaknesses. Identify two or three areas where you are succeeding and enjoying what you do. Evaluate these areas and decide if there is enough business there for you to specialize.
- Once you've identified your market niche, stick to it and delegate the rest, including referring business outside your area of specialty to someone else.