I just did a keynote for our WCR chapter. In it, I asked attendees to define the ‘new normal’. Everyone is talking about it, but, what is it? And, more important, what are three habits of the agent who will thrive in that ‘new normal’ of 2011? Are you going to be one of those agents? Or, are you like some who are still waiting for that 2007 market to come back?

My definition of the ‘new normal’:

A real estate market where practicing real estate successfully requires a much higher level of dedication and mastery than in an ‘on fire’ market.

Just Getting By Isn’t Enough Anymore

To create even a median business, the agent must act like the mega-agent acts– in any market. That means:

* The median agent must pro-actively lead generate (can’t wait for leads as they were able to do in an ‘on fire’ market)
* The median agent must be practiced and packaged (must have good sales skills and presentations)
* The median agent must devote more than 30 hours a week to selling real estate (the consumer has rejected the part-timer)
* The median agent must have an active database
* The median agent must come to work every day

Reading this, do you believe success waits for the non-committed part-timer in this ‘new normal’ atmosphere?

Do you believe the part-timer can deliver what the consumer expects? In later blogs I’ll share with you the consumer expectations and ratings of today. Could it be hurting you to be affiliated with part-timers or low producers?

In my next blogs, I’ll be showing you the traits of the ‘new normal’ agent. What do you think they should be?