How To Turn The SLOW SEASON Into MORE PROFIT
Most agents do not understand the Seasonality Curve and how you can take the slow months for every other agent and turn it into a launchpad for your best year in Real Estate.
The “Slow Season” is upon us.
Coming into the holidays, it amazes me how many agents go to playing defense. Meaning that agents would rather stop spending any time or money on generating leads because there “aren’t many people buying and selling homes in the slow season.”
This is a fact. We have done tons of research to show that there is, in fact, less homes being sold in the winter.
BUT…..we were able to use this data and turn it into an advantage for us because we understand 2 very important principles of real estate:
- The Seasonality Curve
- The Power of Nurture
The Seasonality Curve- Upon looking at a few years worth of sales data we found that in Texas our seasonality curve would see months as high as 132% of our average monthly sales and months as low as 60% of our average monthly sales.
So, knowing this it allowed us to set proper annual goals broken into proper monthly goals.
If our goal was 360 home sales, the most unrealistic way of getting there is by selling 30 homes per month. So 30 homes per month WAS NOT OUR GOAL.
During some of our summer months our goal was 40 home sales, and during some of the winter months our goal was as low as 18 homes sales. But that was how we could get to 360.
The next challenge was reverse engineering how to get to 40 home sales in some of the summer months and I’ll give you a hint….it was not by starting to pour on marketing starting in the spring….
Which leads me to the second principle, the power of the nurture. If you have been following our blog, you understand our unwavering dedication to focusing on sellers and not buyer business.
So, one of the biggest breakthroughs that we ever have had in real estate was truly understanding what it meant to dedicate time and resources to nurturing leads.
Time and time again, we would have people tell us on the phone that they were definitely selling their house but just not right now because a wide variety of reasons. While most agents, make a note and very rarely properly follow up with that person, we spent months building a nurture sequence that is delivered automatically with technology so that you stay in front of that person ensuring the highest probability that you will be the agent they choose to list the home with when it is the right time.
So, after testing this for over a year, we found that we got the most number of nurtures in the “slow season” and there are a few reasons for this.
First reason is that since less people are selling during these months, they have good reasons on why to not do it right then but they are still thinking about it. For some people, moving during anytime between Thanksgiving and New Years is an actual nightmare of theirs. But they still have been talking about it and sometime next year is very likely.
Second reason is that agents take there foot off the gas. Once we understood that work that we put in going into the winter would set us up to have amazing springs and summers, we put the pedal to the metal. And with other agents not marketing or prospecting, it just meant more people for us to talk to without competition.
This also allowed us to hit our monthly goal in the “slow season” because we didn’t use it as an excuse and pushed through!
Stop using the “slow season” as an excuse for you to not hit your goals, but rather adjust your monthly goals based on your seasonality curve.
Start nurturing leads and realize that the work that you put in, going into and during the winter months will allow you to have the best year of your career.