HOW TO SELL HOMES IN A RECESSION

Property Agent Basics / Listing Agent 101

How to Sell MORE Homes in a Recession

 
 

Is the Recession Here Already?

Whether you like it or not, the recession WILL be upon us before you know it.

It could be next week.

Or next month.

But it will be here.

Here's the thing though; The economic downturn doesn't care how you feel about it.

Change will happen whether or not you're ready.

Change comes even if you like it or not.

The last recession of 2009 was very bad. I still remember it. Many agents went out of business. Many homes got repossessed.

You Still Have a Choice

My mentor Dan Kennedy said,

"You can choose to participate in a recession, of you can refuse."

So, which one are you going to be?

Of course, you would love your business to boom in spite of the market right?

Who wouldn't?

So the question is, how to sell more homes even in a recession?

How to Sell More Homes In a Recession?

I learnt 2 key strategies from the last recession more than 10 years ago.

And it has to do with Personality and Prospects.

Let me to explain more.

The Secret of Defying the Market is in Personality

Every successful entrepreneur you or I know definitely had this aspect in their personality; the aspect of being Vigilant and Flexible.

It means being open to change habitually. They saw opportunities before everyone else and took action, and then reaped massive rewards.

They saw threats before everyone else and took precautions, saving themselves while others' businesses got slaughtered.

That's being vigilant to opportunities and threats. And being flexible enough to change their actions.

The opposite of this is becoming fat, lazy and happy.

Some agents I know quickly bought luxury watches and condominiums the minute they won their first Top Producer award.

They had become fat, lazy and happy.

And you must avoid doing that.

How to Become Vigilant?

Leverage Technology.

Use it to see patterns.

Set up simple Google Alerts.

I did that, and that saved me from a quite a few mistakes. It prevented me from becoming fat and lazy.

You've got to cultivate this habit.

It won't be easy. I know.

But making yourself become vigilant and flexible will automatically save you tons of headache and create opportunities you never thought possible.

Like seeing the right kind of prospects to serve.

The Second Secret is Prospects

When you're vigilant enough, you'll now be able to see the right prospects.

Like how I did all those years ago.

I realised one universal truth that is still applicable today: There are serious buyers and sellers in ANY market.

Your job is to find out where they are.

How to find the Best Prospects in a Recession

In a recession, I would go after those buyers and sellers whom I call  'Must-Move Prospects'.

In other words, these are people who MUST buy or sell their house, regardless of the recession.

An example would be buyers under contract who must sell their home.

Another example is repossessed homes, which must be sold.

Remember, in a recession, most homes will not be selling, and there will be an oversupply, and a downward price pressure. Must-Move Prospects don't care about that.

So, if you're vigilant and flexible, you will be able to 'see' these prospects and that my friend, is the secret to sell more homes even in a recession!

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Yasser Khan is a real estate coach, speaker, and trainer at YasserKhan.SG who teaches Realtors how to make more Money, have more Time and enjoy more Freedom without all the B.S.

 
 

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