Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

The simple secret to surviving market downturns revealed

15 February 2019 Tim Neary
Tanvir Bhai

Real estate can be a fairly simple business to succeed in, especially when you put the hard yards in and the market is buoyant. But when the markets cool, it gets hard to keep your head above water. One of the leading sellers in the C21 network shares his surprisingly simple — but highly effective — secret to surviving a downturn.

The principal at Century 21 Property Care in Sydney’s south-west suburb of Minto, HM Tanvir, said that working hard is a given, but when the market is down it’s best to be extra selective.

“Don’t run for every listing,” Mr Tanvir said.

“Run only for quality listings instead which are saleable and give your 100 per cent focus to them. Then nurse your buyers and educate them in exactly the same way you’d do with your vendors.”

Advertisement
Advertisement

He also said that it’s doubly important during bear markets to keep your database clean and updated.

And watch your attitude.

“The last thing for me is to maintain my ‘never give up’ attitude. This is embossed on my brain.”

Mr Tanvir said that the “never give up” philosophy extends to all aspect of his life.

“As a long-time sales professional, I know that the keys to success are persistence and hard work,” he said.

“I apply these principles to my work with my real estate clients, my partners and my community.”

He admitted that selling is in his blood, but that passion alone is not enough.

“I tell every rising star that if you want to be successful, you have to work hard until that job is complete. But sales is not only about transactions; first and foremost, it’s about meeting people’s needs.”

Mr Tanvir said that this attitude has paid off handsomely for him, and that now, more than 80 per cent of his business is from referrals.

“Past vendor reviews play a vital role in a potential vendor retaining me to sell their home. It makes them feel more comfortable seeing a vendor’s genuine praise for my hard work and the successful sale of their previous family home.”

Mr Tanvir sold 25 properties in the last 12 months. He said that based on local area statistics, Century 21 Property Care has 29 per cent market share of its local catchment area, where there are approximately 100 active agents.

The simple secret to surviving market downturns revealed
TanvirBhai reb
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.