“Adapt or die” is a mantra made popular by business and sports leaders the world over, particularly in this new age of technology. While this mantra may be a bit harsh and to the point, it’s correct. Kurt Reisig, APM’s Chairman, echoed similar sentiments at our recent Orange County Summit. Being a mortgage veteran, Reisig is very much aware that the housing industry tends to experience seven-year cycles, which has led us to the pinnacle we’re currently in.
Rather than combat this cyclical change – which is futile – Reisig believes you should embrace it. That begins with changing alongside it. Taking the seven-year cycle into account, Reisig recommends you undertake an audit of the past seven years. This includes how you got where you did, what changes you implemented, and how you came to make the decisions you did, when you did.
Next step is, you guessed it, planning for the next cycle, or the next seven years. What does your business look like seven years from now? What changes will you implement to get there? How will you readapt in a changing business and homebuying environment?
Readapt. Re-envision. Reimagine.
These are the three strategies that should see you through the ups and downs inherent with our industry. So get to work. Flex your agility and adaptability muscles. Check your ego at the door and determine how you can set your business apart. A few Summit speakers noted they were doing this by attending open houses. Find the ways you can add unique value to consumers and your strategic partners and demonstrate it whenever you can.