Real Estate Agents, What if you knew for sure that everything in your real estate business will be completely different? How can you recession-proof your business? Knowledge = Confidence and Ignorance = Fear. Get out of fear and into confidence. The market shift has only just begun.
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PART ONE:
Steps to take now:
1. Be introspective. What are your actual beliefs about a recession? About a changing market? About inflation? Do you believe your own personal economy will be better or worse? Are you stuck in analysis paralysis? Deer in the headlights? Decide today that you won’t just survive in this new market, but that you will thrive because of it.
2. Know your Magic Number (the number of Active Listings you must have at all times to meet or exceed your monthly financial goals) and embrace the fact that it will need to be higher as the days on the market increase. Fortunately, the more listings you have, the more you’ll generate an endless supply of buyer leads as well as listing leads!
3. Focus 110% of your energy on being the dominant listing agent in your marketplace. What skills do you need to upgrade/develop or polish to accomplish this?
4. Accept and embrace the fact that you will have more complex conversations about pricing and market conditions. Master the scripts. No one else will. There is such a thing as price reduction scripts, seller communication scripts, negotiation scripts, etc. New skills for new times!
5. Increase your level of communication on all levels. Leads, prospects, clients, active listings, pending and past clients. You cannot over-communicate in a changing market.
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