SOTM 41: Coronavirus Hammers the Service Sector, Compass Cuts 15% of Staff

Real Estate Rockstars Podcast

Aaron Amuchastegui

Investing, Careers, Business

4.6 • 864 Ratings

🗓️ 25 March 2020

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

With businesses forced to close their doors to help stop the spread of coronavirus, countless Americans are now out of work. Already, the real estate industry is feeling the effects of this sudden economic downturn. Compass cut 15 percent of its staff Monday, citing a projected 50-percent drop in revenue over the next six months. On today’s State of the Market podcast with David Osborn, we discuss this story and why cutting expenses now is absolutely essential. We also talk about what real estate agents can do to make it through the recession and thrive once normalcy returns. Get Instant Access to Hundreds of Free Real Estate Tools Visit hibandigital.com/toolbox Claim Real Estate Discounts, Free Trials, and More Visit hibandigital.com/resources Sponsors Rebus University - Get Over $10,000 in Real Estate Training for as Little as $97 Visit futureofrealestatetraining.com PadHawk - Find Your Market's Best Leads for FREE with a 7-Day Trial Visit padhawk.com Roddy's FLS - Discover Unbeatable Real Estate Deals with a FREE Foreclosure List Visit 4closure.info

Transcript

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0:00.0	The one bit of good news is you know from my perspective every day that I I always know this and this has given me peace is is that every day I'm in a good market I'm one day closer to a crash.
0:14.0	That doesn't give me peace.
0:15.0	That always makes me nervous, especially when you've had 12 years like we did approximately.
0:20.0	Every day you're in a crash, you're one day closer to a booth. So the big question is this, how do most agents who don't have access to the secrets that most successful agents hoard to themselves grow and prosper in today's competitive real estate environment?
0:46.0	That's the question and this podcast will give you the answers.
0:51.0	I'm Pat Heibin and welcome to real estate rock stars.
0:57.0	Rockstar Nation is the Ernie Mujestaggy.
1:02.0	Time for State of the Market, 41. I've got David Osby. Rock Star Nation, this is the Ernie Mujestaggy.
1:02.5	Time for State of the Market, 41.
1:04.2	I've got David Osborne on here, one of the most highly downloaded
1:06.9	podcast we've ever had to give us advice on how to handle
1:10.5	and what to think of the whole coronavirus
1:12.2	and impact on real estate.
1:13.2	Take a listen.
1:16.2	Real Estate Rockstars, this is Aaron Amucci Staggy.
1:24.7	Coming to you for State of the Market, number 41.
1:28.1	And as you might have guessed, we are probably giving me our third state of the market
1:31.6	where the coronavirus is one of the biggest topics out there.
1:34.7	Like I talked about last week, there's very few news pieces we can find out there right now that are
1:40.1	real estate related that are not coronavirus related but more exciting
1:44.8	part about today is the guy that I get to interview and bring on with me you guys have
1:48.2	heard before he's been on the real estate rockstars podcast several times
	...

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