“The greatest stock you could ever invest in is yourself and your business,” Brian Buffini told attendees of the 2022 RE/MAX R4 convention.
Buffini – the Founder and Chairman of Buffini & Company, the largest business coaching company in North America – took to the stage during the Tuesday Super Session to share his advice, outlook and action items with attendees. His straightforward and uncomplicated approaches – like prioritizing personal connection – pave the path toward success for real estate professionals working in an industry peppered with noise.
Here are a few top takeaways from Buffini for building a present and future growth strategy.
Maintain enthusiasm through ever-changing consumer trends
Factors like real or perceived low inventory are putting heightened stress on some agents and making them nervous to take on new clients. But according to Buffini, those who are committed to the profession – and to helping others – instead create opportunity by marketing their expertise, seeking leads and embracing referrals.
“Especially when it comes to referrals, the most precious thing anybody can ever do is put their name to you,” he says, demonstrating the honor of being recognized as someone’s preferred choice for a life-changing financial transaction – and valuable enough that they pass on a recommendation.
“When you get a lead, you need to go back into the mindset of where you were as a brand-new agent with your very first lead,” Buffini advised. “You need to have that level of enthusiasm [and] that level of fire. You know why? Because that's what that customer deserves. It's their big deal – it's their home. It's the biggest decision they're going to make in a long time.”
According to Buffini, iBuyers occupy only 1% of the real estate market – but the noise they create makes it seem like they have a much larger presence. He explains that FSBO (For Sale By Owner) sellers, too, are a false threat to agents given they hold only 7% market share.
A recent boom in real estate technology, he speculates, was intended to aid consumers in selling their home without professional representation. In reality – and especially in a historically volatile market – sellers are instead seeking the guidance and expertise of a qualified professional who can more closely help guide a desired outcome.
“What has happened with all the technology? People are using real estate agents at a higher level than ever before,” Buffini said.
The increased need for trust – and most importantly, human connection – he says, can never be replaced by technological innovation.
“It's about relationships… It's about connecting. It's about becoming people's trusted advisor. And they're referring now at higher rates than ever before,” says Buffini.
Prepare for change
In the coming months, Buffini predicts a spike in mortgage rates followed by their leveling. The raised rates, he said, would be a critical factor in heading back toward a balanced market. He also expects the housing market in the year ahead to become a “professionals’ market” – a stabilized environment with the most qualified professionals left standing after a tumultuous past few years.
“The last time we had sales like this, there was a giant drop off. So why is this different? Why will there not be a giant drop off this time? Why are we not heading for a worldwide real estate recession? There is one word: equity,” he explains.
“People are putting more down. People are buying for cash and the rates are still kind of stable. Okay, so we're not heading for a big crash. What we're heading for is a bit of a leveling off.”
There’s still time for RE/MAX affiliates to register for the 2022 RE/MAX R4 convention live-stream package for access to replay 12 recorded sessions – including the Super Session featuring Buffini – until 5 p.m. MT on March 11.
Written by LEAH CURTIS originally published via news.remax.com