One agent at a time, Realty Industry Image Makeover
The U.S. Department of Justice is grilling the real estate industry over alleged anti-competition and restraint of trade violations. The Consumer Federation of America this month raked the industry over the coals in a new report that likens industry practices to a cartel. Spring and summer typically usher in a seasonal boost in sales, but a growing number of markets are stagnant with slow sales and flat prices. The deflating market comes with increased competition from a record number of licensed real estate agents, growth in discount, online and other new types of brokerages, and gains in the FSBO (for sale by owner) sector.
Yet, smart public relations can your best friend, provided you cozy up to the type that garners trust and credibility. Commissions put bread on the table and clothes on your back, but your true value to consumers is as a knowledgeable and credible source of information. Reliable information that helps clients make crucial decisions about what could be their most valuable transaction is, well, invaluable. It also garners cost-free, word-of-mouth advertising, one of the best types of advertising you can use to grow your business.
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