Tuesday, April 24, 2007

 

Double-Down in Soft Markets

It was announced earlier today that monthly home sales volume declined by the largest amount in nearly two decades.

The news clearly isn't good. At an aggregate level, this is a much softer market than we saw a couple years ago. And many real estate agents are staying extra-careful with their marketing budgets.

But if I was a real estate agent right now, I'd double my marketing budget. I'd kick my customer acquisition efforts into overdrive. I'd invest everything I could into my business.

Why? Because market leaders are made in times like this. While competitors shrink in fear, emerging market leaders double-down. They invest in the future, while taking firm hold of every present opportunity.

Maggie Mouscardy is a fantastic example of this. She's a real estate agent in Long Beach, California, and was just promoted to direct the Internet business for her Prudential California Realty office.

Her business has skyrocketed the past two years, thanks to careful planning and aggressive marketing. And last week? She increased her investments in marketing to fuel faster growth.

"While other agents complain about market conditions, I just keep making money and building my pipeline," she said yesterday.

When economies slow, when your industry softens, don't slow down.

Speed up.

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