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

Real Estate Training & Coaching School

Business, News, Business News, Careers

4.7 • 669 Ratings

🗓️ 1 August 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

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: https://members.timandjulieharris.com 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 Expired, withdrawn, and temporarily off-market properties, unrepresented owners, absentee owners, probate, and new construction salespeople. 9.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. Join Tim and Julie Harris's Exclusive PREMIER COACHING 100% FREE: https://members.timandjulieharris.com 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 LATEST REAL ESTATE NEWS: https://bit.ly/3Obuhs2 EXP REALTY EXPLAINED: Tim and Julie Harris are one of the TOP EXP REALTY Sponsors in the world. Tim and Julie are honored to be your sponsor at eXp Realty. Text TIM HARRIS directly to be sponsored by Tim and Julie Harris 512-758-0206. Tim and Julie's 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 WHO ARE TIM AND JULIE HARRIS?: https://bit.ly/3mGOWbU #realestatetraining #joinexprealty #realestateleads #timandjulieharris #realestatesecrets #realtor #realestatemarketupdate #realestatecoaching #negotiationsinrealestate #themodelexplained #exprealty #joinexprealty

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. Welcome back. This is part two when you're talking about how to recession-proof
0:34.3	your real estate business. This is especially true, especially true for those of
0:39.8	you who have teams, and if you are small, medium, or even large-sized broker. I'm going to start out by
0:44.6	telling you a story that sounds a little bit depressing, but the fact is that maybe some of you
0:48.5	need to have a little bit of a brush with the realization that a recession and especially a recession like this
0:55.1	one will not suffer any fools. Julie and I have been in the coaching and training business for
0:59.5	arguably two decades, maybe a little bit longer, but you know 20 years. And in that time we've
1:05.3	been through, you know, even when we were selling real estate ourselves, we've been married for 31 years
1:09.3	so forever. But in that
1:11.0	time, we've been through at least four recessions. And I can give you guys example after example,
1:16.3	after example of brokers in teams. And teams have been around since the 90s. They're not a new thing,
1:22.1	really since the late 80s, that waited too long to make changes., Julie and I have seen this happen every single time
1:29.6	there was a recession, especially after the Great Housing recession. And here's how the logic goes.
1:34.3	And this is exactly how people think. And I'm going to give you then what almost happens every single time.
1:39.8	What happens almost every single time. This is you as a team leader, you as a broker. This is how
1:45.0	your brain works. I have a team. We have a broker. We've had, you know, 10 years of really great
1:49.9	success. I have great agents. Everyone's motivated. We're making a lot of money. We have the superior
1:54.8	brand. We've got good lead generation funnels. Yes, my expenses for my business is high,
	...

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