We are nearing the end of what many are calling a rollercoaster year in real estate. Mortgage rates have more than doubled from what they were during the height of the pandemic. That should be putting a significant dent in the market. But in many areas of the country, according to brokers we surveyed, housing inventory is at a record low, pushing prices up and drawing multiple offers for well-kept homes in desirable areas.

There is growing optimism that rates will slip under seven percent in 2024, bringing with them a new wave of buyers, some of whom were more recently been shut out of the market. But for the moment, as the holidays approach and the weather cools, real estate agents face a Q4 slowdown that is normal in any market. This is the time, brokers agree, for agents who want to prosper in 2024 to take stock, set goals, and strategize:

• Review your ROI – How closely are you meeting the goals you set for 2023?  Which marketing strategies, platforms, and strategies are paying off? Which are not? Are you meeting enough new people? Staying in touch? Getting a fair share of referrals?
  

• Set business goals for 2024 – What are your sales goals for next year? What can you do better or differently to make them happen? Should you reset your marketing budget? What can you do differently on a daily, weekly, or monthly basis to help grow your business? 
  

• Set new learning goals – Sign up for classes/courses you’ve been meaning to take. Look for a niche you feel comfortable exploring – or a new specialty focus. Find new ways to stay abreast of local market dynamics.
  

• Make your holiday plans – Building and maintaining relationships are at the very heart of your business. Will you host a holiday event? Sponsor a drive? Make house calls? How will you reach out to past or potential customers in ways that show your thanks and professionalism?

• Start with a clean slate – Clear your desk/office of all those old notes and assorted junk you’ve collected over time. Make sure all marketing pieces are up to date. Review and update your CRM. Update your profile on websites and other platforms. Repair or replace any old equipment.

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This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice.

About Bobbi Pronin

Bobbi Pronin is an award-winning writer based in Orange County, Calif. A former news editor with more than 30 years of experience in journalism and corporate communications, she has specialized in real estate topics for over a decade.

Bobbi is not an employee of Anywhere Integrated Services or affiliated with its title companies.