Setting Yourself Up For Success In 2023 - with KCM Member Kristina Irvine
Setting Yourself Up For Success In 2023 – with KCM Member Kristina Irvine
In October of last year, we had the chance to interview a KCM Member who established herself as the go-to agent in her market during the frenzied housing chaos brought on by the Covid pandemic–Kristina Irvine out of Naperville, Illinois. At that time, Kristina had sold over 140 homes and had just started a Team of her own. Check out Kristina’s initial spotlight:
Almost a year and a half after our first meeting, we were able to follow-up with Kristina to see where she’s at now. Listen to her latest interview for some of the best advice I’ve heard about how to approach the shifting market as we head into 2023.
Check out some of the highlights from our conversation below!
NAVIGATING TODAY’S SHIFTING MARKET
[So I know during your first interview, we talked a lot about how you came into real estate just a couple of years before Covid. And you were finding your footing at the height of the pandemic, and it was a whirlwind. I feel like this is a market where a lot of newer agents are going to be coming in and feeling that same way. What is it like now? Is it different from how you felt the last time we talked?]
“Oh, my goodness. So it’s so completely different. And it’s weird because this is what the market was like when I started, and then I was just–I was just figuring it out, I was such a baby. I didn’t have a lot of business, whatever. And then, you know, bam! I mean, I’ll be really transparent…I didn’t think it was fun to be as busy as it was because you left stuff on the table. The client experience couldn’t be what you wanted it to be. There were always things that just weren’t as great as you can make them now that things are like this. So it’s going to be a lot easier to get referrals.
We’ve really honed in on what our client experience is going to look like. Being the knowledge broker–also being willing to say, like, ‘hey, we don’t know what the market is going to do next, but knowing that the data shows that just being in the market over a long period of time is more important than knowing when to buy or sell.’
So that’s been a huge thing for us as realtors, …having more time for community involvement–I just partnered with a local charity who I’ve been doing a ton of work with and building great relationships with. And I think it just gives you this new opportunity, and personally, I just think this is more fun. I would take this over the last two years any day…just being able to build these new relationships and build more of a referral-based business of service to the community, and then also knowing that you’re able to take care of your clients on a different level and step-up that client experience in a way that really gets you a lot more referrals.”
“And just in general being aware…and being really granular about, what are my business expenses? Which ones are the needs and which ones are the wants? What can be cut if it needs to be cut? What’s actually effective? And then how much do I need to make to run my life in my business, versus what’s extra, right? …Have we been saving? Have we been–and do we need to–supplement our income while we’re slow? Hopefully in a way that would also support our business if that’s necessary. So when you have a tough month and your bills are paid, it really doesn’t actually matter. Otherwise, if you just look at it as this one big, huge block, it kind of feels like the world is crumbling. You go from making $30,000-$40,000 in a month to $5,000 and you’re like–’what just happened?’ So being really, really granular in the differences is going to be super, super crucial.
And then…what are we doing to fill our cups? We just ran ragged for two and a half years. So, like, it’s okay if I have more Sundays on a couch than I’ve ever had. And just learning to really be cool with that and taking care of myself and taking care of my people while I have the time, so that when I am busy again–because I anticipate spring will be busier at least–I’ve taken care of those things and it’s okay to go gangbuster and take it while it’s available and be more cyclical than we have been.”
[No, I love that so much. It’s okay to take a step back because you can’t pour from an empty cup. And that’s so different from what we’ve been hearing from many agents who are like, ‘it’s slowing down,’ or, ‘this is bad for my business, I don’t know what to do.’ And I love that you’re framing it in, ‘no, you have an opportunity now. You have the time where you can go in and make that client relationship–that entire experience for them–what you want it to be.’]
“…Here’s the thing that people need to realize…there is still business happening–there is a lot of business happening. Again, I would compare the speed of this market to pre-Covid, which was still a pretty killer market– the only thing that’s different and that we have to be hyper aware of is that there are a lot more realtors to spread the business across.
And so how do I make sure I get enough business to get through this cycle? And the answer is always 100,000 bajillion percent of the time, it’s always going to be, ‘what do I give them that they can’t get anywhere else?’ And making sure that I lead with that, making sure that I close with that, making sure that I deliver on what I promised. The rest of it’s just going to figure itself out.”
STANDING OUT IN A COMPETITIVE MARKET
[So on that note, what makes you unique? What do you do differently for them that other agents wouldn’t do? Why are you the best choice?]
“Well, we always lead with education. Most people have no idea, even if they’ve done a real estate transaction before–unless they’re one of those know it all people, which we all get them– but most people don’t know what to expect in a real estate transaction. So we always try to first of all, lead with education. But then also use a past, present, future mentality–so here’s what we’ve done for you, here’s what we’re doing right now, and here’s what’s going to come next. And then following through on that.
It gives them a level of comfort because, like, nothing kills a real estate transaction faster than uncertainty. And so if you keep them feeling certain and like they can, like, they can take a deep breath and they’re okay…versus they’re sitting in a place of anxiety–when something does come up, they handle it ten times better, right? …It’s just in general, just keeping them comfortable and being able to trust–not necessarily in you, but that everything’s going to be okay. Because when it’s you, that can also cause a lot of drama… it can’t all be you.
You can help them understand…and they just trust that maybe you don’t have all the answers, but you know where to get them, and that you’re going to be able to help guide them through more things than anybody else–that gives them a sense of calm.”
[So how are you spending your time right now? I know you said you have more of it. So what are the things that you’re focusing on?]
“So, systems and processes. Again… I don’t care how great of an agent you are, I don’t care how much business you do or don’t do– if you’re going to look at me and tell me that your client experience didn’t slip the last two years when you were so busy you couldn’t breathe–you’re lying.
And I’m not too proud to admit that I know that happened. Like, I know for the number of transactions that we did, I’d like to see a whole lot more referrals than what we’re getting. And it’s not because we did a poor job– it’s because we didn’t do a ‘wow’ job. Those wow things are the first things to go when you’re that busy. And so, I’m so stoked about focusing on the wow again.
…By focusing on our processes and our communication, how can we prepare them better? How can we educate better? Being really aware–again, they don’t pick us because we’re great realtors, they just get lucky on that. They don’t even know what a great realtor is, right? They pick us because they like hanging out with us.
You know, sometimes you show homes to sell a home…sometimes you show them to build a relationship. And just really being able to appreciate those things, which we really kind of couldn’t for a couple of years.
…Something I’m also really aware of, is now that there’s going to–hopefully…there doesn’t feel like there is right now, at least not in our market–but at some point, there’s going to be more inventory to choose from.
And so, when there are 40 homes on the market that a client wants to look at, being super hyper-aware of the fact that I need to be really stringent and articulate in my processes…by having them pick their 3-5 top favorites, and being able to coach them through that in a great way.
I’m also very big on speed to contract makes a huge difference. So when they first reach out, they probably just got a pre-approval or they’re just getting one. They’ve just decided they’re going to do this and they’re super excited. The faster–appropriately–but the faster you can get them under contract, the better for everybody, including them. The longer that process drags out, the excitement wanes, the odds of them deciding not to buy or hire, the odds of rates changing or whatever, are higher.
The over-criticizing homes, looking for the perfect one– when really all we need is an 8/10, because that’s way more realistic. Like, all of that stuff becomes a bigger problem versus if you are just really good and really clear in your processes, you can get them under contract the first or second time out–and that’s where, one, you make the most money, and two, your clients are actually the happiest. And so that’s a big deal for me.”
BOTTOM LINE
With information coming from all sides, it’s important to continue to step up and be the real estate expert your friends, family, and clients rely on in 2023.
While the real estate market continues to shift, there’s still a lot of speculation about what the future holds. In order to build trust in your communities and calm fears among clients, you need to be the market expert they can trust.
Listen to Kristina’s full interview below for more inspiration about how to stand out in today’s competitive market.
Do you have more questions? We’re here to help you succeed! Our Support Team is available Monday – Friday, 9am – 5pm EST.
You can create a support ticket by sending us an email at support@keepingcurrentmatters.com, or reach out to us by phone at (631) 593-5700!
|
Members: Sign in now to set up your Personalized Posts & start sharing today!
Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized Posts. |
