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In a market where sales are down and things feel a bit slower than we’re used to, it’s easy for agents to get discouraged. A lot of agents I work with are facing the challenge of a market that doesn’t move as quickly, where buyers are hesitant and sellers often aren’t realistic about their home’s value. If you’re not on your game, it’s easy to watch opportunities slip by. But let’s be clear: a down market doesn’t have to mean a down year. In fact, it’s in these times that some of the most successful agents are made.
To not only survive but thrive in this environment, there are three key skills every agent must master. If you can consistently apply these skills, you’ll not only navigate the current market—you’re going to come out ahead when things bounce back.
1. Prospecting Every Day
Prospecting is the lifeblood of any real estate career, and that’s especially true in a slower market. When sales aren’t flying off the shelves, it’s easy to sit back and assume there’s just not enough business to go around. Trust me, I’ve seen it happen time and time again. Agents who stop prospecting when the market slows down are the ones who end up with empty pipelines and closed doors.
Here’s the thing: prospecting is an ongoing process, not a one-time event. It doesn’t matter if the market is hot or cold—you need to build habits that ensure a consistent flow of leads. Think of it as your daily exercise for your business. You wouldn’t expect to stay in shape by working out once a month, would you? The same goes for your real estate business.
What does daily prospecting look like?
- Lead generation calls: Whether it’s following up with past clients, reaching out to expired listings, or just checking in with your sphere, prospecting every day means keeping your name front and center for those who need your help.
- Networking: Meet people in person, attend local events (even virtual ones), and get your name out there. Relationships are crucial in this business.
- Social media engagement: Today, your online presence can have just as much impact as in-person meetings. Engage with your audience, share relevant content, and be visible where your potential clients are looking. Not sure you’re on the right track? Reach out to me about my 5/5/5 approach, and I’ll show you how to make at least 3,300 contact touch points this year in as little as 15 minutes a day.
It doesn’t matter if the market’s slow—prospecting daily keeps your business steady and helps you maintain momentum.
2. Only Taking Salable Listings
Now, let’s talk about the second key skill: only taking salable listings. This one is all about being selective—not every listing is a good listing, and certainly, not every listing is going to sell. In a slower market, it’s more important than ever to be picky about the properties you agree to list.
Why? Because taking listings that don’t have a real chance of selling can drain your energy, time, and resources. You’re going to spend many hours, and hundreds or thousands of dollars working on a property that might sit on the market for months, and in the meantime, your pipeline will remain empty. The result? You’re busy but not productive, and that’s not sustainable for long-term success.
So, what makes a listing salable? Well, there are a few key things I look for:
- Price: In a down market, pricing is everything. If a property is priced too high for the current market conditions, it’s not salable. It doesn’t matter how great the house is or how motivated the seller is—if it’s priced out of reach, it’s going to sit. The first conversation with a seller is always about helping them understand the current market and setting expectations accordingly.
- Condition: This one’s pretty straightforward. If the home needs a lot of repairs or updating, it may not be competitive in the market unless the price reflects that. It’s important to evaluate whether a home’s condition aligns with what buyers are willing to pay for it.
- Seller Motivation: Is the seller truly motivated to move? Or are they just testing the waters? If the motivation isn’t there, it can be hard to get the right price and move the listing forward.
You have to protect your time and your reputation. By being selective, you focus your efforts on properties that are likely to close—and that means less stress and more success in a tough market. Remember: it’s not your job to list properties, it’s to SELL properties.
3. Mastering Pricing and Negotiation
Finally, the third skill you absolutely need to master is pricing and negotiation. This is where many agents fall short when times get tough. When the market slows down, you’ve got to be prepared to navigate tricky conversations about price and guide your clients through the process of getting deals done.
In a hot market, pricing might feel like less of a priority because everything seems to sell quickly, regardless of the price. But in a down market, pricing becomes everything. You can’t afford to overprice a listing and let it sit. You need to use the most up-to-date data and market analysis to come up with a price that will attract buyers right now.
Here’s where your negotiation skills come into play. When a deal starts to stall, or a buyer is hesitant, it’s your job to help both sides see the value of making things work. Strong negotiation isn’t about winning every battle—it’s about finding common ground and making sure everyone feels like they’re walking away with a win. In a slow market, negotiation often isn’t just about price. It’s about terms—closing dates, contingencies, financing, and the myriad of other things you need to handle in a deal. The ability to creatively structure deals can make all the difference.
If you’re confident in your pricing and negotiation skills, you’re not just reacting to the market—you’re actively controlling the narrative. Sellers will appreciate your expertise, and buyers will respect your ability to work through tough situations.
Wrapping It All Up
A slow market doesn’t have to mean a slow business. By mastering these three key skills—prospecting every day, only taking salable listings, and mastering pricing and negotiation—you can set yourself up for success. In fact, when you consistently apply these skills, you’ll be in a stronger position than many agents who are just waiting for the market to turn around.
If there’s one thing I’ve learned in my 30 years in this industry, it’s that the agents who succeed in tough markets are the ones who don’t sit back and wait—they take action, they adapt, and they keep pushing forward.
So, take the time to sharpen these skills. Make them part of your daily routine, and you’ll not only get through this market—you’ll come out ahead.
Ready to take your business to the next level? Contact me to see how I can help you get there!
