Capitalize Now on a Hot Spring Real Estate Market

Punxsutawney Phil predicted that spring would come early this year, and in new home sales, it certainly has. There have been unprecedented numbers of leads, appointments and sales already in 2020. In fact, privately-owned housing starts in January 2020 were 21.4% above the January 2019 rate, and many builders are crushing records.

What does this mean for the online sales specialist? It means you are busy – very busy! But it also means you have to be careful of overheating. This is the time when it’s worthwhile to take a step back, analyze and reset your priorities, then grind it out to make sure you’re being as productive as possible. After all, great market conditions don’t last forever. Do everything you can to take advantage of them now.

Here’s what you can do (and not do) to be prepared for this hot selling season.

DOs

Do work everysinglelead

As we like to say here at Do You Convert…

Work 100% of the process, 100% of prospects, 100% of the time.
Click To Tweet

Do trust processes you already have in place

Leverage automation where you can so that no leads slip between the cracks. A solid process lets you replicate and duplicate at will. It also gives your brain permission to forget – a necessity when things get busy.

Do re-prioritize your activities and focus only on lead-converting activities

Things you may have had time to do in a slower market may not give you the same return now. Leverage your time for its highest and best use.

Do be completely transparent with leadership

Make sure they understand that you are experiencing a surge of activity and adjusting your responsibilities accordingly. Explain that lead response and management are the most important things you can do right now to create the most appointments and sales for your company.

Do communicate with friends and family that this is your “busy season”

You may need to take calls after-hours and on your days off. Clear expectations make all the difference.

Do make hay while the sun shines!

Double down on your efforts while you are at work and crush it while you can. It’s a great time to be in homebuilding!

DON’TS

Don’t cherry pick your leads

During this busy time when it seems like you can’t get back to everyone fast enough, don’t give in to the tendency to work with only the most responsive leads, or only with leads from specific sources. Also, don’t sacrifice speed of response because of high lead volume.

Don’t do anything manually that you can do with automation

You may need to create additional workflows that allow you to leverage your system. If you are repeating similar actions, they should be turned into a process. You may also need to streamline your current processes if the lead volume is too high. For example, that call activity might become a text. That personalized video email for third party lead sources might be changed to a template.

Don’t apply regular market activities to hot market lead volume

It’s not the time to focus on extracurricular or untested activities. Do what you know works first before taking on anything else. You might have to hit the pause button on some of those “other” tasks that made it on your desk – at least until you have more bandwidth. Oh yeah, and stop going to all those meetings you don’t need to be a part of.

Don’t suffer in silence or wait to raise your hand if you’re drowning

You might be thinking, “Everyone is busy, everyone is working overtime.” However, if you can’t manage your main business as best you can, it will negatively impact the rest of the team. Communication is key.

Don’t forget to make time for R&R, even if it’s something small

A real lunch break, a few minutes to breathe, and an actual day off can help you hit the reset button.

Don’t miss your opportunity!

Have an incredible spring selling season – it won’t last forever!

Remember…

• Develop hot market habits that will serve you well. Adjust according to the season.
• Focus on what you know works; be as streamlined and efficient as possible.
• Avoid falling into bad habits that will be hard to unwind once the hot market is over (like cherry picking leads).

Here are more resources for taking advantage of a hot real estate market:

DYC Live! How to Stay Cool in a Hot Market

The post Hot Market Dos and Don’ts for Online Sales appeared first on Online Sales and Marketing for Home Builders - DYC.