10 tips for a recession-resistant business: Part 1

June 1, 2018

In today’s digital world, the majority of home buyers start their search online. And when it comes to the qualities they value most in an agent, local market expertise is at the top of the list, 2nd only to good ol’ honesty.1 These facts make 2 things crystal clear—your digital presence needs to be seriously memorable and you need to showcase your amazing knowledge and expertise.

To help you do just that, we invited Jason Dryburgh, Co-Founder of LOCAL Real Estate Marketers of Keller Williams Elite Realty, to share his actionable strategies for creating a recession-resistant business, with a focus on becoming the neighborhood pro—online and in-person.

So, without further ado, here’s Part 1 of our recap:

 #1: Digital is not a replacement for the real stuff

Sure, people are online looking for homes (and you!), but that doesn’t replace the “belly-to-belly” relationship building that has stood the test of time in our industry. Think of your physical presence in the neighborhood as the high impact—and digital is the “follow-up”.

You build your “boots-on-the-ground” reputation by being able to talk about the house you sold on the street or by knowing other neighbors by their first names, by being involved. The bonus? When those people start seeing you online, that reinforces your brand.

 #2: Have a niche but be flexible

Having a niche is great, but one of the ways to recession-proof your business is to make sure you’re also flexible. If you market yourself as the local luxury market expert, be prepared and nimble enough to make the switch to mid-market should the need arise. This requires staying up-to-date on trends and market fluctuations so you’re being proactive not reactive.

#3: Be selective, be smart

As you start your rise to digital neighborhood pro, it’s okay to be selective and smart with the audience you’re targeting and who you choose to work with. If you’re creating Facebook ads, for example, target the specific zip codes or audience likes and interests that will align with your niche.

You can also hire teammates that compliment your services. Perhaps you bring on a new team member that works with foreign buyers or specializes in listing representation. Taking these types of steps ensures your target demographic aligns with your digital presence.

 #4: Leverage market trends

To be the real MVP of your neighborhood, use market trends (days on market, number of transactions, etc.) to really show your expertise and knowledge. What’s more, when you combine that with insider information about your community (new developments, up and coming restaurants, school activities, etc.), you position yourself not only as a real estate resource, but a real advocate for the community. A true neighborhood insider and the kind of agent today’s buyers are looking for.

 #5: Build your brand, don't BE the brand

As your business grows, it’s only reasonable to assume that so will your team. When one agent is the face of the brand, clients can feel unimportant if they’re being passed off to another team member. To tackle this, be sure to build a brand that works with or without a staring actor. Build a brand that encompasses your entire team (or potential team), so that growth is easy and seamless … and branding isn’t interrupted.

That’s it for Part 1 folks. Check out Part 2 as we dive even deeper into Jason’s tips for building a recession-resistant business!

1 National Association of REALTORS® Profile of Home Buyers and Sellers, 2017

Screenshots represent site and mobile applications as of publication date. Site and mobile applications subject to change without notice.

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