4 Things Alabama REALTORS® Should Prioritize in 2024

4 Things Alabama REALTORS® Should Prioritize in 2024

As we move forward in the new year, it's natural to reevaluate goals and set new objectives. Whether you want to call it a New Year's resolution or a professional growth journey, here are four priorities that REALTORS® should focus on in the coming year.


Your Market Conditions

Clients work with a REALTOR® mainly because of their market expertise. Being an expert in your market gives you a competitive edge over less knowledgeable competition.  

Plenty of news and reports focus on national market conditions, but the Alabama market is your market! The monthly Alabama Economic and Real Estate Report, produced by the Alabama Association of REALTORS®, analyzes and summarizes key market indicators unique to the state. Sales data, including number of sales, sales volume, active listings, days on the market, and median and average prices, arm you with numbers you need to be the expert in the room. AAR’s economists list the key takeaways and make key forecasts in every data category. Don’t miss this membership benefit and add it to your monthly required reading.

Staying abreast of your local data is another tool to ensure you offer clients the best advice. Focus on the key indicators that help buyers and sellers make realistic decisions.


Marketing and Branding

Branding and marketing are closely connected, making it challenging to determine which is more important. However, the answer is that both are equally critical. Going into 2024, establish a brand to represent what you do and who you serve. A brand should make a lasting connection with a potential client through its name, logo, website, marketing materials, and messaging. Start this year by taking a fresh look at those elements to see if they consistently reflect your business and resonate with clients.

Marketing is how you communicate your brand to generate interest and drive potential clients to you. Your marketing efforts act as an extension of your brand and incorporate branding elements across all platforms. Take inventory of your current marketing strategies to see which are most effective. Among social media channels, most REALTORS® rely on Facebook, Instagram, and LinkedIn for messaging about their areas of expertise, showcasing listings, and highlighting their communities. Social media should be part of your daily schedule to keep your content fresh and engaging.


Customer Service

Once you have a brand and a solid marketing plan. The next priority is providing excellent customer service that will build client loyalty and send you referrals. According to Forbes, 90 percent of customers base brand loyalty on the quality of customer service. Consider how much you spend on marketing to acquire a client. It only makes sense to provide the best service before, during, and after your representation in their sale or purchase. REALTORS® who seek opportunities to help buyers and sellers even when they’re not actively in the market cement their outstanding customer service reputations and build loyalty.   

Assess ways you can improve customer service by asking for customer feedback and through surveys and social media reviews. Use responses to address any weak points and to ensure clients that you value their opinions.


Professional Development

Every professional needs an occasional refresh. New technology, best practices, vital information on market conditions, laws, and regulations are all part of professional development or continuing education that enhances your ability to represent your clients and prosper as a REALTOR®. As a bonus, you will network with other REALTORS® and develop valuable relationships.  

The National Association of REALTORS® (NAR) and AAR should be your first stop for ongoing professional development. Annual AAR events include Alabama Graduate, REALTORS® Institute, Alabama REALTORS® Annual Conference, and REALTOR® Day at the Capitol. NAR offers courses ranging from ethics training to certifications. Continuing education is offered at live events and through scheduled webinars.  

January may be slipping away, but don’t use the calendar as an excuse. Since it’s a leap year, 2024 offers a bonus day to evaluate where you are and want to be by 2025.