This is the first of 4 parts that focuses on How To Recession Proof Your Real Estate Business. First things first, to recession-proof your real estate business, it is important to have a positive mindset and belief in your ability to thrive in a changing market. Be introspective and make sure you have a clear understanding of your own beliefs and fears related to a recession. Base your thinking on facts, not emotions. Keep a close eye on the market, use your MLS Hotsheet to stay informed, and be aware of your “magic number” (the number of active listings you need to meet your financial goals). Develop and upgrade your skills as a dominant listing agent in your marketplace and be prepared for more complex conversations about pricing and market conditions. Emphasize clear and consistent communication with all your leads, prospects, clients, and active listings. Additionally, it is better to price a home correctly from the start, than to suffer through multiple price reduction conversations.
WARNING: 2023 Housing Market
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