So how can realtors prepare for a bad economy? Hi my name is Yasser Khan and I'm the author of property agent secrets book the most powerful book in real estate guaranteed! So it's no news that we are in a bad economy and the important question that you should be asking about yourself, you know, is what are you going to do about it? How are you going to be prepared for, you know, even more bad times or even worse time than right now? It's only getting worse right? But we don't know how long is the recession going to last? So here's the thing right you know many agents I have seen that you know were taken totally by surprise even though you know it's been said for quite some time that a recession was long overdue because the last recession that we had was in 2009, yet agents were still you know taken totally by surprise by nowadays' virus epidemic and the economic recession. So here's the thing about you know here's the thing that we have to understand that is part of life is part of you know the economy that really means right now is impacted by you know ups and downs by cycles right everyone knows that yet everyone still get taken by surprise so the main reason that I Can tell you why agents are being taken by surprise is because of you know I can tell you you mean you may not like it but I'm still gonna tell you anyway and the reason it has todo with their personality right so youknow the thing is that we you know don'tlike change that the first thing right and then say is that reason why many agents I see I still very far behind in terms of technology even though other professions are doing very well in terms of technology as well but agents are still that technology literacy is still you know pretty much he left a lot of things still you know leave a lot to be desired right so early on I said it has to do with our technology the thing is that you know we as entrepreneurs must be eternally vigilant must be eternally eternally flexible right to changes in the environment and we need to make the right decision all the time and here's the thing about you know being flexible and rigid is a huge part of successful entrepreneur and not having not been vigilant not being flexible is the reason why many realtors you know unfortunately are going out of you know real estate and they're quitting real estate and that's the thing because they're not prepared they're not preparing for bad times ahead and you know many agents you know I just just giving up and not you know doing realestate skills anymore and this quite setto see it doesn't have to be that wayright so the thing about you know wejust have flexibility let me give you anexample you know every successfulentrepreneur has this as part of theiryou know as part of their personalityright to personality plays a huge part in your success as a realtor in yoursuccess as an entrepreneur just ask anysuccessful entrepreneurs go and take alook at any successful businessman andmany successful people business peoplethey have you know this ability to adaptthey have this ability to quickly youknow take advantage of changes quicklyyou know they deliver that you know themarket is gonna crash and they go and dosomething about it for example you knowWarren Buffett right you know you knowIII love you know really investing inall those years ago in the lastrecession I took up classes I took upcourses on Value Investing I bought a book by you know the mentorof Warren Buffett and his name isBenjamin Graham I bought his book and read his book and I was amazed by the, you know vigilance and flexibility that they display and true enough Warren Buffett himself this place you know vigilance eternal with and flexibility it's always business always flexible it's always quickly snapping up companies that you know their share prices are going down yet their business is relatively not that affected and they have a unique advantage not many other businesses  so that is what you know there is what I want to explain to you why it is so important every successful entrepreneur has dead and it's someone you know you know sometimes you find that suddenly you know this entrepreneur was travelling for a while and suddenly he suddenly showed up and the lism is often because you know he quickly saw an opportunity that no one or a few people around him could see and he knew that what he needed to be done and he was flexible enough to get that done and change cause change direction right and then you know when the thing happened to opportunity came in quickly grab it he got it done right and this hall you know many entrepreneurs in the past you know they have done it and we see so many examples so realistic right this Realtors as Realtors right you know we have a bad reputation and many realtors are not flexible you know you know they're resistant to change the resists change but I think about changes that three stage you know even though is cliche change is the only constant change is permanent right you know whether you like it or not the economy is going in the recession so the important thing is are you prepared for what's next? are you open? are you flexible enough? are you easily enough to see that you know right now what you were doing in the past may no longer work right in the recession especially you know together with the corner wires condemning what you have been doing in the past may no longer work in the future yet it still you know feel that you know you know why is this happening to them but ask yourself you know even though we are in the recession when is it happening to us you know what lessons what lessons can we learn and apply you know it does show that you know are we gonna be overly reliant on government bailout or government handouts right? what kind of entrepreneur are we if we rely on the government right with same as other employees right so the thing is that you know you got to be vigilant you got to be flexible right it does you realize that those are very vigilant those are very flexible they're rarely you know put themselves in such a situation situation of you know lean times or not enough money ordinary business and usually slowdown business are inevitable when the entrepreneur himself you know becomes happy become inflexible become too comfortable right so don't become comfortable don't become happy don't don't become too overly reliant on one way to get your business never you know seriously never become overly reliant on one portal to get all your business because you never know when things may change you really know that things are changing you know that we are really in a recession so the important thing is how do we prepare how do you you know stop you know stop avoiding stop being in denial that's very important many just are still in denial right and you tend you know they they show classic symptoms of being in denial and they're angry they are frustrated why we I never session you know can't we just you know quickly go back to how things are how to use to be right and this these are the kind of taught that they have these are the kind of you know thinking that they keep thinking all the time and let me tell you you know that's the wrong kind of question seriously you shouldn't be asking all this question and if you see someone you know thinking that way you know you know just you know be be a good friend and tell them to stop thinking that way always that comes from come from the angle of you know solution I would look for solution seriously you got into real estate for reason right and you know you got to learn skills and if you don't love sales then seriously you know real estate is all about sales likes all about you you know how do you convince the first page how did you become a better salesperson how do you you know become better at connecting with the right people and how that's how you should behave the right kind of conversation with prospects even with clients right so you know all the while you be doing things you've been used to doing this a certain way and suddenly you know we and in the session and what we were used to no longer applies right so you got to come up from you go to shift your mindset you got to come out from the but you know the the perception you know that the mentality that you know things will always stay the same no they don't we seriously we're changing so rapidly and right on we don't even know how long this recession is going to last right and the important thing is always be reachable sorry middle and always be flexible always be open to change embrace change you got to do things that you know make you uncomfortable so that later on you live a comfortable life seriously let me tell you comfort is highly overrated seriously comfort you know all the things that you take for granted life whatever comfort I want to be comfortable I want to stay in a comfort zone I want to be where I want to stay the same seriously all that is way overrated seriously when we expand you know when you start doing more things many times we think that you're not used to seriously your zone of comfort will expand and you know even though I mean I've been saying in the past and I'm not sure if you know this but you know your comfort zone is the same as you wealth zone and when you increase your comfort zone when you start doing things that you know used to there for example doing video for example you're not used to doing video yet you know it's uncomfortable for you you got to come out of your comfort zone you got to go out of your way to buy certain things like a camera or stand for example and go to make adjustments to your timing or you go to you know put in extra effort to let's say look good to speak well for example to be presentable for the camera then you know by the time of you know let's say you know after one month of consistently doing this suddenly you find that your comfort zone has expanded right and you don't when you're comfort zone expand your wealth zone the income also naturally expand seriously you look at all the millionaire's out there look at all the billionaires out there you know the way millionaires do things are different from the way the billionaires do things right and because the billionaires and the mini the comfort zone is much much higher they do things on a bigger scale right they do everything on a more impactful level and this is how they are able to gain so much money even in the session then million less being meet every single day even this dis recession there are new companies being formed and even in this recession you know there are new business being made we don't know them yet but we will in the coming months or coming years right and you will hear stories of people who started a business precisely because they saw a new trend and they were flexible enough to adapt and to quickly you know monetize it and that's how they went up suddenly and they become a millionaire and they become a billionaire it's not overnight right it happened because you know they have the personality you know they they have the ability to embrace change and that is how you know millions are me there is how success is you know quickly quick changing times right you know call for change changes in trend and you know if there is a quick opportunity you go to take quick action right and that is how you prepare yourself for this recession.