How To Recession Proof Your Real Estate Business

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 23 January 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

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 QUESTION: Agents, Are You 100% Ready For 2023, Do You Have A Proven Success Plan? If Not, Do This: Join the #1 Award-Winning Real Estate Coaching & Training Program FOR FREE! Yes, This Includes Daily Live Coaching! Join For FREE Now. Reclaim Your Life & Break Free Of Worry. The Path To Success Is One Click Away. JOIN Premier Coaching For FREE Now. https://bit.ly/3aUimkh P.S. Limited Offer. This Is A Personalized, Live Coaching Program. Limited To 250 Agents. *We will also explain how to systematically approach each source, and recommend resources and discounts for you. LIKE and SUBSCRIBE AND PLEASE LEAVE A COMMENT: https://bit.ly/3NXGxNb FREE REAL ESTATE SALES TRAINING AND COACHING: Enroll NOW, FREE Real Estate Coaching and Training: https://bit.ly/3aUimkh EXP REALTY EXPLAINED: Tim and Julie Harris are one of the TOP EXP REALTY Sponsors in the world. We would love to be your sponsor at eXp Realty. Text TIM HARRIS directly to be sponsored by Tim and Julie Harris 512-758-0206. Our EXP Realty site: https://bit.ly/3NJTPwB * Completing the EXP Realty application now? Name JULIE HARRIS from Georgetown Texas as your sponsor! Watch this video: https://bit.ly/3QjYJCo and here is the application: https://bit.ly/3MKPw35 FOLLOW TIM AND JULIE HARRIS: Nations #1 Daily Real Estate Training Podcast: https://apple.co/3xJgofx YouTube: https://bit.ly/3NXGxNb Facebook: https://bit.ly/3twOBfM Instagram: https://bit.ly/3QjxdVF eXp Realty: https://bit.ly/3NJTPwB HARRIS Real Estate Coaching: https://bit.ly/3tvp0DI Our #1 international best-selling book: https://amzn.to/3tzHymr Free DISC Personality test for Realtors: https://bit.ly/3aUimkh MORE REAL ESTATE TRAINING VIDEOS YOU WILL LOVE: Peter Schiff Interview: https://bit.ly/3aXC1zN EXP Realty Explained: https://bit.ly/3mGBVyV Housing Bubble Popping?: https://bit.ly/3MK62A7 Housing Crash Survival Guide: https://bit.ly/3zxoyZD 5 Must Know Success Rules For This Market: https://bit.ly/3QeSbVv Real Estate Agent New Mortgage Rules: https://bit.ly/3zCjSld FAMOUS REAL ESTATE AGENT INTERVIEWS: 100s of interviews: https://bit.ly/3Qk85he Featuring: Fredrik Eklund: https://bit.ly/3NMDOpE Ryan Serhant: https://bit.ly/39fx6tx Jade Mills: https://bit.ly/3tvZQVC WHO ARE TIM AND JULIE HARRIS?: https://bit.ly/3mGOWbU "Our real estate journey began 30 years ago and we knew early on that we wanted to share our playbook to success. We've had the pleasure of transforming thousands of careers achieving success and financial freedom. We know what it takes and we're looking forward to meeting you so we can jumpstart your growth!"

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.
0:10.2	This is the number one daily radio show for realtors looking for a no BS authentic real-time coaching experience.
0:18.2	What's really working in today's market, how to generate more leads,
0:21.8	make more money, and have more time for what you love in your life. And now your host, Tim and
0:28.3	Julie Harris. Three, two, one, and we are back. And we are talking about how to recession
0:34.5	proof your business. Without any further delay, Julie, let's jump in right
0:38.6	into part one. You got it. So part one and point one as labeled steps to take now. So if you're
0:44.8	taking notes, now's the time to get going. Point number one, be introspective. What are your
0:50.3	actual beliefs about a recession? What about a changing market? What do you think or feel about inflation? Do you believe that your own personal economy will be better or worse? Are you stuck in analysis paralysis? Waiting around to see what happens? Are you feeling like deer in the headlights? Well, decide today that you won't just survive in the new market, but that you will thrive because of it.
1:13.0	So here's some facts to back that up. What are we talking about this transitioning, changing
1:16.8	possible recession market? Here's the facts. Days on the market are increasing.
1:21.7	Prices are inflating slash appreciating. That is slowing. It's not the same pace as it used to be.
1:29.0	Competitive offers are less common. So monitor your own market daily using your MLS hot sheet to know what I call
1:34.6	what's hot and what's not. Now it's really important for all of you to be very clear in your head,
1:39.0	even if the number of total transactions in 2023 drops to say, for example, 4.4, 4.3, 4.6 million. That's going to be
1:48.0	still, remember, it's take that number and multiply it times two, because that's really what you're
1:52.4	looking at as far as potential paychecks for real estate professionals. And if the average
1:56.8	commission is going to be upwards to $10,000 to $12,000. There's still plenty of money to be
2:01.5	earned. Now, here's something else. I know this is going to be a shock for many of you, but if you've
2:06.2	only been in the business for 15 years or less, which is 74% of you, not just who listened to this
2:10.9	podcast, but in the real estate industry in a whole, you've never sold real estate in anything other than a, I'd say, artificially enhanced
2:18.4	sellers market.
	...

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