3 Areas Agents Need To Focus on in 2024

By Matt Brown

Matt Brown is a 20-year real estate industry veteran and has worked every aspect of the industry representing sellers, buyers, investors, and banks, in both the residential and commercial markets.

Today, I want to discuss the three key factors that every real estate agent should consider as we enter the 2024 selling year. Last year was challenging, with fewer homes sold than in the previous years. This year, we anticipate around 4.3 million sales. However, due to tighter income prospects, we may see many agents leaving the industry. Let’s dive into the three things you need to focus on if you want to succeed this spring season:

1. Unique value proposition. It’s crucial to have a UVP that sets you apart from other agents. Utilize resources like the National Association of Realtors to access the 2023 profile of homebuyers and sellers. By understanding client expectations, you can tailor your UVP to meet their needs effectively.

“What are you offering your clients?”

2. Have a wide menu of services. Consider offering a menu of services based on different commission levels, such as 5%, 6%, and 7%, or variations thereof. Providing options is essential, as 60% of individuals tend to choose the middle option. Having a menu of services allows clients to select the level of service that aligns best with their preferences and budget.

3. Early signing of buyer representation agreements. Ensure that you have a buyer representation agreement signed early in the process to protect your commission and prevent potential complications. Many agents have faced commission losses due to not having this agreement in place, leading clients to work with other agents or sign contracts with competitors unknowingly.

These three focus areas are vital for success in the real estate market this year. If you have any questions or need guidance on implementing these strategies, feel free to reach out to me via email or phone. I’m here to support you every step of the way.