Q1 was slower than previous years, but picked up in March and April. Market conditions have changed with higher interest rates, leading to slower discretionary buying and selling. Agents should take advantage of the slowdown to skill up and focus on areas of their business that need improvement. Open houses and prospecting, especially with expired listings, are effective strategies for generating business. Agents should also leverage social media to attract relocating buyers. Evaluating expenses and adjusting marketing strategies are important in a slower market. Education and communication with buyers are crucial due to higher rates and prices.

Takeaways

• Q1 was slower than previous years, but the market picked up in March and April.
• Higher interest rates have led to slower discretionary buying and selling.
• Agents should take advantage of the slowdown to skill up and focus on areas of their business that need improvement.
• Open houses and prospecting, especially with expired listings, are effective strategies for generating business.
• Agents should leverage social media to attract relocating buyers.
• Evaluating expenses and adjusting marketing strategies are important in a slower market.
• Education and communication with buyers are crucial due to higher rates and prices.