Why Do Agents Hibernate at the End of the Year?
It’s a curious thing. The real estate world seems to virtually stop from mid-November until after the first of the New Year.
Why is this? One top-level office manager told me it’s because agents get disappointed about not meeting their year-end goal and they just give up. Interesting approach. The common thought is that buyers and sellers go dormant this time of year so agents do, too.
I thought it would be enlightening to pull some numbers. I picked a couple of random cities to see just how the numbers shake out.
In San Diego County, the average number of transactions per month in 2008 ran 2,689. In November of 2008 there were 2,500 transactions. In December 2008 there were 3,079 transactions and in the first two months of 2009, there were 2,403 and 2,371 transactions respectively.
In Maricopa County (Phoenix, Arizona), the average number of transactions per month in 2008 ran 4,271. In November of 2008 there were 3,554 transactions. In December 2008 there were 4,648 transactions and in the first two months of 2009, there were 3,774 and 4,381 transactions respectively.
What does this tell us? Sure, it’s just two markets, but I challenge you to run your numbers. Perhaps the numbers slip a little bit during these holiday months, but do they really slip as much as agents think?
Why do agents feel they can just “take the holidays off?” Is it because they deserve it? Perhaps. Hey, if you can do it, more power to you. But if you’re concerned with your production, your income and your expenses, how can you rationalize taking so much time off? The rest of the world doesn’t take off six weeks at the end of the year, unless you’re very lucky.
The problem with taking this time off is that most agents will say, “I want to get off to a great start next year.” The problem: the time taken off in November and December hurts your momentum. Instead of a running start, you start from a standing still position. In October, right now, every agent should be developing a Game Plan for 2010. And I advise that it’s also time to do a one page Game Plan on how you’re going to finish strongly the end of this year. There’s no better time to pass your competition than when they’re standing still.
Here’s a great quotation: “Good things happen to those who hustle,” by famous Spanish writer Anais Nin. I like that. And I think more agents could apply it to their work effort in November and December every year.
What’s your plan for year-end?
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Great information. I am new to the business and looking for ways to shake up the current market. I know nothing better than the what agents face right now. It is time for the more “seasoned” agents to step out of their decade old shell and transform to the future. The market will never be where it was at and we all need to understand that the ways of future markets will be TOTALLY CHANGED. The “slow” times should never be slow if your busy being busy!
Thanks for sharing. I could not agree with you more about how taking time off can hurt your momentum. I’m just putting my toes in the water but I know in this market it’s going to take a lot of hustle!
Cheers,
Andy
I believe agents DO “give themselves time off” at the end of the year! However, is it wrong to think that (as an agent who doesn’t hibernate around the holidays) this gives us hard workers a major opportunity? I plan on maximizing my outcomes for the end of 2009 and riding that wave of momentum through 2010. Thanks for posting – I enjoyed this article. As the author of an upcoming blog, I enjoy reading a great real estate blog!!!
While a lot of agents are taking time off for the holidays, I’m getting geared up for a terrific 2010. I had two settlements the day before Thanksgiving and one the day after. Although, it would have been nice to have a long holiday weekend. I had a very Happy Thanksgiving!