Whether you’re refining your business model, mastering new technology, or finding a strategy to take advantage of the next market boom, Inman Connect New York prepares you to take a bold step. The next chapter is about to begin. Please join us. Join us and thousands of other real estate leaders from January 22-24, 2025.
In my 21 years in this industry, I’ve seen cycles come and go, but one thing remains the same. It means those who are prepared, focused, and resilient will always come out ahead.
As we look ahead to 2025, we want to share insights to help agents, teams, and brokerages turn slow seasons into opportunities for growth. Real estate is a dynamic field where planning, adaptability, and a proactive mindset can make a big difference.
Looking back on the year in which we took the first step toward growth
The end of the year is an ideal time to take a step back and assess what’s going well and what’s not. First, track key metrics such as sales volume, commissions, closed buyer sales, and listings on a monthly basis.
This analysis is very important. It shows you exactly where you are compared to last year and provides a benchmark for evaluating your goals against overall market activity.
Digging deeper is also essential for the team. Pay attention to the performance of each agent. Who is driving results and where is there room for improvement? The most effective teams go beyond celebrating top performers to those who need coaching to reach their potential. We know we have a team to support. It’s about creating a culture of responsibility and growth.
Q1 Goal Setting: Start Planning Now
The real estate industry operates on a 90-day cycle. What we do now has a direct impact on next quarter. So we start planning for the first quarter as early as the third or fourth quarter. By setting realistic, data-driven goals, agents can face the new year with confidence. Entering January with clarity and direction means you’re not only expecting success, but planning for it.
In 2025, we will focus on several key areas: strengthening agent-client relationships, embracing digital tools, and investing in high-quality lead generation sources. The point is not to work smarter, but to work smarter. As we prepare for the coming year, these goals will guide us and make sure we are ready to face whatever comes.
Predict market trends and economic impact
Many people consider the first quarter to be a slow season for real estate, but here in Las Vegas, there is no real “low season,” we just have a series of slow seasons. Buyers often see the beginning of the year as a new beginning, while sellers rush to close before the end of the year.
The challenge for us lies in factors beyond our control, such as interest rates, inflation, and election year uncertainty. But there is one important issue that is most top of mind. It’s the continuing lack of affordable housing. This is both a challenge and an opportunity for agents who can creatively navigate this space and help their clients find value.
Budgeting and Financial Planning: The Key to Stability
Getting through the first quarter with healthy cash flow and a well-thought-out budget can be a game-changer. First, review last year’s income and expenses and allocate funds strategically. I recommend setting aside 30 percent of your income for taxes, 20 percent for marketing and lead generation, and maintaining a 6-12 month emergency fund.
While you might think a slower pace means less spending, remember that this is also a time to invest in your business so you’re ready to capture market share when the going gets better.
At my brokerage firm, we are increasing our marketing budget and expanding our relocation department for 2025. We encourage agents to re-evaluate their lead sources and move to more profitable channels. Quality is more important than quantity, and agents who invest in the right tools and relationships will be successful.
Creating a culture of excellence
A brokerage firm’s success depends on its people, and talent acquisition and retention will be a priority as we head into 2025. We want to attract and retain both experienced producers and promising new talent. Our approach is to foster collaboration and enable top performers to share insights with emerging agents, creating powerful synergies that lift everyone up.
We set high standards from day one and set minimum performance benchmarks that naturally attract top talent. But our investment doesn’t end there. We offer ongoing coaching and training covering everything from market trends to digital marketing strategies. Our agents know we are invested in their success, and that inspires loyalty and dedication.
Nurturing customer relationships for long-term success
Real estate is all about relationships. Our work with clients must extend far beyond transactions. It’s about going beyond that and building lifelong connections. Agents should follow up with clients after the closing to confirm the status of the move and provide resources for the new home.
Value doesn’t end with the sale. It’s about providing ongoing support and building trust. Schedule an annual home valuation, share local market updates, and always position yourself as a resource. This level of service keeps customers coming back and leads to referrals. Because people remember not just what you did, but how you felt.
Planning for potential challenges in Q1
The beginning of the year can present unique challenges. Agents may face cash flow issues or reconsider their commitment to real estate. To combat this, we focus on transparent and honest conversations. By understanding each agent’s goals and concerns, you can help them stay engaged and committed. This one-on-one support builds trust and reduces sales. This is essential for intermediaries to thrive.
We also prepare for potential market changes by ensuring our operations, finances, reputation and compliance. From cross-training our staff to maintaining high reserves and diversifying our revenue streams, we take a proactive approach to risk management. Our goal is to make sure we’re prepared for whatever 2025 brings.
Take responsibility for and align with your goals.
Setting goals is one thing, but producing results is responsibility. We will monitor your progress weekly and monthly and make adjustments as necessary to stay on track. This means looking beyond basic metrics to get a complete picture of performance. Are your agents working on your listings? Are your customers satisfied with your service? What’s working and what’s not?
By fostering a culture of accountability, we help agents maintain momentum even after they reach their goals. It’s about always moving towards the next goal, staying disciplined, and using each success as a stepping stone to the next.
Build lasting success
As you prepare for 2025, remember that every season is an opportunity, whether it’s slow or busy. With the right mindset, clear goals, and a commitment to excellence, any challenge can be turned into a success story. It will be a year of growth, resilience, and prosperity in the face of change.
Craig Tann is the CEO of Huntington & Ellis, a full-service real estate agency based in Las Vegas. Connect with Craig on LinkedIn and Instagram.
