Increasing Your Market Share in a Hot Market

In a hot market, skilled agents find themselves competing with less skilled agents for clients who may not be able to see the difference right away. How do you prove yourself when the consumer isn’t really looking for skill? Why is a down market actually a lot easier to grow in? How do you go about growing your market share when so many people want a piece of the pie? On this episode, we talk about what it takes to grow your business when the market is up.

 

Focus on the systems you have in place and make small tweaks. Then let the compound effect be the reason why you gain market share. -Greg Harrelson

 

Takeaways + Tactics

• In a down market the consumer is hiring for skills; But in a hot market they’re just hiring warm bodies.
• There are still plenty of transactions in a down market-- there are just fewer agents going after them.
• Don’t reinvent the wheel or focus on shiny objects. Double down on what’s working already.

 

In a hot market, you get more people with low skill sets flocking to the real estate industry because they think they can make some quick money. In a down market these people leave the business and the skilled agents are in much higher demand. In a hot market, we have more money to buy more shiny objects and open up more circles that we never complete. Those things become distractions that stunt growth. In a down market there are less distractions, and the agents with skill and experience rise to the top, especially when they focus on what works.