How Real Estate Agents Can Attract New Clients and Thrive in Tough Economic Times

With the price of houses having doubled in some areas of the U.S. over the past few years, the once thriving buyer’s market has slowed to a standstill. Does that naturally translate into a seller’s market?

Not so fast. Super high property prices, combined with spiking interest rates, high inflation, stagnant wages, layoffs, and families who need to hold more than one job just to keep up with the basic monthly bills, means a real estate market that’s not easy to navigate. 

Real estate agents in particular are feeling the pinch. It’s not easy these days for a veteran real estate agent to stay motivated or, for that matter, to attract new clients. But there are solutions to this more or less cyclical problem. One immediate means for keeping up the spirits of a real estate agent along with the entire team of agents, is to issue quarterly rewards for the most sales.

Says the professionals at EDCO, a company that specializes in real estate awards like trophies and broker plaques, recognizing and honoring the accomplishments of realtors in this tough market is of vital importance. Celebrating sales achievements along with significant milestones in the real estate industry with custom awards, not only motivates the honoree, but it inspires his or her fellow coworkers to try even harder. 

With that in mind, how can real estate agents and other business professionals go about attracting new clients in these tough economic times? According to a recent report by Forbes, attracting new clients can be the bane of lots of professionals, many of them seasoned veterans. While there are times the solution is as simple as running into someone who is looking for a particular house or a service, other times getting new buyers on board can seem like an impossible dream.  

Generally speaking, the standard means by which you attract new clients begins with marketing to a select group of people. It ends with closing the deal. While this sounds logical and even easy, for most professionals it can be akin to a chore, especially when your efforts and marketing dollars are not having the desired effect. 

Fortunately, there are some creative and unique methods for solving this problem. Whether you’re a frustrated real estate agent or a young entrepreneur who’s just established a new work-at-home business, here are few value-based methods for snaring new paying clients you might want to consider.

Offer Education and Value

When you make an effort to educate clients, you’re giving them something of value that’s for free. They don’t get the feeling you’re always trying to make a sale, which can turn people off right from the start. By learning from your experience in your chosen field and not asking anything in return, you are starting up a relationship that will likely result in a sale down the road.

Create A Likeable Business Personality

The reputation you carve out for yourself in your field is said to be much more important than how much your product or service is different and therefore better than all the competition. By taking the necessary time to manage your business reputation and by creating quality social media content, you will attract new potential customers while building solid relationships.

Find Out Where Your Clients Are and Go There

It only makes sense that if the clients aren’t coming to you, you need to go to them. If your marketing methods are falling flat, it doesn’t hurt to ask around if anybody might be interested in the service or product you have to offer. Explain why the potential buyer can benefit from it. Your social media contacts are a great place to start.

Be Perfectly Open About the Problems You Solve

Says Forbes, consumers have more choices today when it comes to the services and products they purchase than ever before. It’s certainly possible to buy the attention of a potential customer, but it’s a better idea to earn it. This means being perfectly open and crystal-clear about the problems your business expertise can solve and who can benefit from it. You then consistently share your ideas in an open forum which can serve to build trust. Eventually, new clients will feel comfortable hiring you to sell their house, for instance, or to buy your new product.

In the end, there are many ways to attract new clients, from hosting virtual events, to blogging on Substack or Medium, to beginning a YouTube channel dedicated to your profession, be it real estate or the creation of the best widget ever. Always be on the lookout for fresh faces who are willing to listen to you and who, in the long run, might be willing to become a paying client.