Strategies to Win in the New Environment: The Activities That Are Driving Success by Paige Tepping
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icking off 2021 on a high note, RISMedia’s “Real Estate’s Rocking in the New Year,” a virtual event co-presented by the National Association of REALTORS® on Jan. 7, took a closer look at what real estate professionals across the board are doing to set themselves up for continued success during the session, “Strategies to Win in the New Environment: The Activities That Are Driving Success.”
“A lot has happened over this past year, but our panelists quickly turned situations, challenges and trends into opportunities,” said J. Lennox Scott, chairman and CEO of John L. Scott Real Estate, who moderated the lively discussion. Jumping right in, Scott turned to Michele Harrington, COO of First Team Real Estate, to discuss how she’s helping her agents navigate and implement an abundance of technology. To combat this overload, younger agents within the company, who have a better grasp on the technology, are coaching the more seasoned agents who may not be as proficient. “As brokers and owners, it is important that we understand that not
all agents want to learn to embrace technology,” said Harrington. “If we can figure out a way to make it easier on them by doing it for them, it’s a win-win for everyone.” Taking things off the agents’ plates is the name of the game for Anthony Lamacchia, broker/owner of Lamacchia Realty and CEO of Lamacchia Companies. “We kept telling our people to dial the phone, write the handwritten notes, send cards and call past clients, but they were having a hard time, so we created incentives for our agents,” he explained. The firm’s “Working By Referral” course, which runs twice a year, has been a key piece of the puzzle when it comes to getting agents focused on obtaining business from their
sphere of influence. “We all know that when agents are in touch with the people around them, they obtain business from them regularly—and we made it a little easier for them to do that,” added Lamacchia. Shifting gears to address the inventory shortage that’s apparent throughout a majority of markets across the country, Scott asked Todd Sumney, chief industry officer of HomeSmart International, to share his tried-and-true strategies to drum up listing inventory. Sumney challenged attendees to make 2021 their year by engaging their database, creating their own listings and tracking their progress. The three tactics he suggested? A CMA challenge, a video challenge and making the effort to do more things virtually. “We’re in a situation where we have low inventory, and the desired outcome is more listings, so go out there and create your own inventory,” explained Sumney. “You’d be surprised at how many people you can get to show up to a 10-minute virtual open house versus a traditional open house.” For J.B. Goodwin, founder and CEO of JBGoodwin REALTORS®, if there’s one thing 2020 taught us, it’s the importance of adapting. “Everyone thinks real estate is harder now than it’s ever been, but the way we’ve changed our practices because of COVID is no different than how we’ve adapted over the years to other market conditions,” he explained. RE Be sure to mark your calendars for April 8, 2021, when RISMedia and the National Association of REALTORS® present “Spring Into Action,” a full-day virtual event packed with strategies to help you maximize the spring and summer markets. Visit action.rismedia.com for more information.
Paige Tepping is RISMedia’s managing editor. Email her your real estate news ideas to paige@rismedia.com.
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