There is a great parallel between what we do for a living and ‘spinning plates’. We are constantly looking for new real estate opportunities and marketing options. While still using the tried and true methods.
A solid real estate practice is made up of several revenue sources. Geographical farming, sphere of influence (SOI), open houses, pursuing banks ‘REO’s’ – (asset managers, loan modification specialists etc..), calling expireds, fsbo’s, calling around listings, door knocking, mining our social media sites and pages, cold calling etc…etc…
Trends come and go. Inventory increases and decreases. Statistics change. The economy shifts. We cannot change this, but we can embrace it, follow it and chase it! In the meantime we need to have a balance. We need to keep our other plates turning. In this way, we always have a continuous source of revenue.
Remember, there isn’t a bad market…just bad pricing.
Go ahead, add some plates to your already spinning saucers. Or get some plates up in the air NOW! Make a plan and follow it. Be patient and give it time. Give them a whirl. Monitor your plates (run a business like a business), and don’t worry if you lose one. Why? Because you have several more spinning at any given time and you will be adding more!