It's About Time

Let's face it - the real estate industry had a tough year in 2008. The mortgage crisis, declining prices, lower buyer confidence, slower sales rates and myriad other factors contributed to a year many of us are glad to be done with. But although most experts agree that any rebound in 2009 will be slow and
deliberate rather than sudden and extreme, the new year, along with a new administration and outlook, provides each of us with a fresh start of sorts-and some time to think about the industry and our place within it.

TIME FOR STIMULUS

The housing industry is the primary focus in any discussion of getting the U.S. economy back on track. In fact, by the time you read this, one of several stimulus packages might already have been adopted. The act of making housing a national priority and implementing a plan is a vital step in the recovery process. The move should aim to increase demand (through means such as tax incentives and/or interest
rate buydowns), curb foreclosures, eliminate problematic mortgages, assist homeowners and restore consumer confidence.

And while no one forecasts a smooth residential ride this year, some local markets are already showing signs of turnaround while others seem capable of doing so with the proper stimulus. Buyers are out there, despite considerable challenges in terms of oversupply and general economic turmoil, the combination of attractive interest rates, sound lending practices and attractive prices should bring people back into the market.

TIME FOR GREEN

While the economy and the election rightfully dominated headlines over the past year, another transformative social shift also will have a vast impact on our industry. "Goinggreen" is far from a new concept, but the scope to which it has grown shouldn't be underestimated. The days of $4 gasoline may have disappeared for now, but the national focus on energy efficiency has not.

For real estate agents, this requires a deeper understanding of the green paradigm.
Are you able, for instance, to articulate to your clients the significance of LEED. Energy Star and other rating systems? Are you properly versed in sustainable communities, smart growth, new urbanism and the latest trends in conservation? Are you prepared to deliver professional advice on the green merits or lack thereof - of a particular property?

Fortunately, there are excellent ways to learn. The new Green Designation program unveiled at the National Association of Realtors Convention in November, for example, can provide you with a solid foundation of skills, knowledge and credibility. The curriculum consists of a two-day core course and one of three one-day electives. This might be the ideal time to complete the training and add the designation to your toolbox.

TIME FOR TECHNOLOGY

In Denver, where I live, we're on the verge of losing the city' s oldest newspaper, The Rocky Mountain News, which was first published in 1859. Other venerable newspapers, from the Miami Herald to the Chicago Tribune, also face troubling situations. These longtime media giants are struggling for a variety of reasons, but the tidal shift in classified advertising is cause No. 1. Quite simply, more and more readers now use the Web to find things - such as home listings - that they used to see in the newspaper.

Paraphrasing an old saying, the best time for a real estate professional to fully engage online advertising and lead generation is five years ago. The second-best time is today. If you aren't, on the first or second page of results when someone Googles real estate in your city; if you haven't investigated which Search Engine Optimization techniques will drive traffic to you; if you haven't explored the many venues that can promote your listings and generate leads for free or at little cost; if you're unclear about podcasts, virtual tours, blogs or digital photos: or if you' re reluctant to network with colleagues and/or consumers on any number of social media sites, then the time for you to make a shift in your online approach to business is right now.

TIME FOR ACTION

Under any conditions, we all remain empowered to approach each day with the energy and motivation required of successful people. No matter what sort or trouble brews, the age-old adage still holds true: Nothing beats hard work. In sales, that translates to maximizing the time you spend on activities resulting in business. It's vital to have systems that cultivate leads, process contacts and serve clients in the most efficient manner possible.

Whether through team members or automation or other means, you need to deftly complete the day-to-day tasks that connect you with prospects and transform them into clients and customers. Then you must deliver the type of expert service that creates advocates and additional referrals. There' s simply no substitute for this. It's easy to forget that promotion, reputation, visibility, efficiency, knowledge, skill and sheer professionalism are permanent cornerstones in the success of the very best real estate agents. But make no mistake: Strength in those areas will see you through - even in the hardest of times.