Carolyn Bowen-Keating, vice president of our relocation division, is currently presenting her 2008 annual report of corporate relocation activity to each of our offices along with her projections for 2009. The report is full of helpful information, including summaries of the sources of our relocation business and how our relocation division is adapting to changes in the third party and corporate environments. It is of some comfort to take note that, although our relocation business is down, most of the lost volume is due to erosion in real estate prices and not erosion of the relationships with our relocation business partners.
Inasmuch as the business generated by our relocation division should be considered supplemental to the core business generated by our sales team, it is important to note which employment sectors are emerging as prospecting hot spots, according to Carolyn. Based on her own success, she recommends that agents concentrate on the medical and financial fields when preparing their personal business plans for 2009.
Traditional referral sources in automotive and other sectors should not be ignored, but agents may wish to consider building relationships in these emerging areas for 2009. Developing contacts upstream of the employer pool, such as with individuals in the recruiting profession is also advisable. In addition to the medical and financial areas, technology will also prove to be a fertile area for prospecting.
By concentrating on emerging business sectors, buyer stream through our relocation division was increased 20% last year. This did not happen by accident, but rather through advanced planning and persistent execution. Developing market driven prospecting strategies will help build strong individual agent business in 2009.
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