4 Tips for Improving Your Business in 2012

December 19, 2011

Become a specialist and target a niche market in your real estate business in 2012, suggests Alan Shafran, with Prudential California Realty in San Diego and president of ShowingSuite.com, in a recent article at RISMedia. Shafran offers some of the following tips for creating a business plan in real estate for success in the new year:

1. What’s working and what isn’t? Evaluate the strengths and weaknesses of your current marketing plan. Identify your talents and skills and try to match new strategies to take your business in 2012 that matches your skillset. “If you want to try something new — for example, the mailing of postcards to reach a new farm — make sure you have enough resources to cover the cost of the project for a period of at least six months,” Shafran suggests. “If you don’t have the budget, don’t start the project. Implementing a new marketing strategy without giving it enough time to succeed will only dilute the effectiveness of your other marketing programs, because it will sap you of your time, effort, and energy.”

2. Hone your sales skills. Jot down a list of the areas where you feel you need improvement in the new year. Vow to become more educated and try role-playing exercises to allow you to speak with more confidence and knowledge.

3. Re-evaluate your branding and the demographics you’re targeting. “To be successful, it’s important to constantly evaluate what types of homes people are looking for in your area and what they are willing to pay,” Shafran says. “After you figure out what type of clients you want to target, take the time to adjust your marketing strategy according to their preferences.”

4. Update your profile and marketing materials. “Chances are, if your pictures and business cards make you look like you are 25 years younger than you actually are, then it’s time for an update,” Shafran says. “Shocking the customer is typically not a good idea.” Also, make sure your resume and Web site reflects today’s customer, given the financial environment, he adds. 

Source: “10 Simple Steps for Making 2012 a Success,” RISMedia (Dec. 18, 2011)

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