It’s official, the RECESSION is here. How will this affect your real estate business now? 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.
PART THREE:
11. Stop buying leads and anything speculative. If you can’t track actual closings to it, why are you spending time and money on it? You can’t count on the buoyancy of the market and Fear of Missing Out (FOMO) to keep your momentum. You must be proactive. ‘If it’s meant to be, it’s up to me!’ is your new mantra.
12. Every team member must be a profit center. No riders, only rowers! Your transaction coordinator and assistant also have centers of influence…bonus them for being proactive and bringing you listing and buyer prospects.
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13. Don’t be drawn to REO and Short Sale peddlers. If the market shifts to that degree, we’ll be educating you on what to do and when. Currently, distressed property is less than 2% of sales. Refer to our series about why the market is a shift and not a crash for details on why this is.
14. Keep your body and mind in good shape. You don’t want to deal with a health issue at the same time as a market shift. Get involved in Orange Theory or Crossfit or Zumba to both stay fit AND expand your Center of Influence. Talk about real estate all the time using our FORD script.
15. Create a Transaction Fee profit center. $497 x 20 transactions = $9,940 more profit for you. If you’re doing 50 transactions/year, that’s $24,850.
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