Real Estate Agents (and Brokers) How To Recession Proof Your Business (2)

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Manage episode 336187516 series 142288
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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.

Join Tim and Julie Harris's Exclusive PREMIER COACHING 100% FREE:

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PART TWO:

6. Use our 12-week Seller Communication Plan to talk with all active sellers weekly, even when you don't want to. Do what you don't want to do when you don't want to do it at the highest level possible. Stop expecting 20 offers in 20 seconds on every listing. Know how to get longer listing contracts signed.

7. Become outrageously proactive with your lead generation. You need more conversations with more sources of business to find truly motivated prospects. People move because of their own circumstances, not because of the market, especially when there's uncertainty. Even when we were in the depths of the housing crash with 4 MILLION active listings, people were buying and selling, and closing every day.

8. Top lead sources should include but not be limited to: Your center of influence and past client database. Expired, withdrawn, and temporarily off-market properties, unrepresented owners, absentee owners, probate, and new construction salespeople.

9. Be very clear about which buyers are both motivated and qualified to actually buy. Remember that no buyer actually has to buy. Buyers always have more options than sellers. Speak with their lenders when financed and be sure proof of funds letters state where the cash is coming from. Learn more about mortgage options other than the traditional 30-year fixed.

10. Keep your 'powder dry' so you can invest when you see the best opportunities. With more inventory comes more choices and eventually more moderate prices. Monitor your credit score, save at least 10% from each commission and get yourself pre-approved as an investor so you can pounce when it's time.

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