This month’s article is directed at property practitioners, though its insights can apply to various industries.
As we enter the last quarter of the year, many real estate professionals may feel tempted to ease off as we approach the end of 2024. However, I advise against this for two main reasons.
First, the property market is in good shape, with positive sentiment continuing to grow since the beginning of the year. House price inflation is trending upward, and historically, October and November are among the best months for securing offers at Local Real Estate. Even though many of you may feel fatigued after a long year, it’s essential to maintain your momentum and take advantage of the current market conditions.
Second, timing and planning are crucial, especially as we enter a cyclical slowdown. Agents, as small business owners, should always be looking three to six months ahead. The agreements you sign now will likely generate revenue at the start of the new year. Be aware that December is typically the quietest month for offers, often followed by a slow January. This creates a potential black hole of four to six weeks where business activity may significantly decline.
However, this doesn’t have to be a cause for panic. By understanding this cycle, you can prepare and secure business for the first quarter of 2025. The best agents will strive to lock in three months’ worth of business over the next two months.
I am a big believer in balance. An agent simply cannot work full-time 365 days a year, so having a well-earned break at the end of the year to refresh and recuperate, given that it is also the quietest time of the year, makes a lot of sense, especially if an agent has worked hard leading into Christmas.
However, if you do give in to the urge to start slowing down now, then you can expect a pretty rough time at the start of 2025. Stay proactive and finish the year strong!
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