How to Survive THIS Recession_!

Property Agent Basics / Motivation

Top 3 Strategies You Can Use to Survive THIS Recession


How to Survive THIS Recession?

So the recession is already here.

And we don't know how long this one is going to last.

And we're hearing dire warnings and fatal predictions everywhere.

Everyone is worried. People are scared if they will keep their jobs or not.

Because if not, how are potential homeowners going to make their monthly payments? So in a recession, buyers stop buying and houses don't sell.

So what are realtors to do?

How can realtors survive this recession?

Three Key Strategies to Survive in This Recession

Strategy 1. Change from being a Hunter to become a Farmer

Realtors have traditionally always been impatient people:

  • Impatient to close deals.
  • Impatient to collect  cheques.
  • Impatient to book appointments.

And prospects know it too.

That's because most realtors are what I call Hunters.

They're like lions hunting for food.

All they can think of is Close, Close, Close.

Getting a deal is like oxygen to them.

Even I was like that.

But in a recession, all the sheep run away.

Leaving the lion with lean pickings.

You've got to become a Farmer.

A farmer very patiently:

  • sows the seeds
  • waters the plants
  • watches the plants grow into trees
  • collects and eats the fruits when they ripen

Pretty dull work, eh?

You've got to become slightly more flexible than you're used to.

Changing times call for changes in plans.

Strategy 2. Find 'Must Move' Prospects

These are prospects who must move, in spite of the market.

Maybe they already signed a contract.

Or they bought a house and need to sell their previous home.

Or they sold their house and need to buy quickly.

These are highly motivated prospects.

And you must find them before other agents do.

You see, you job as an entrepreneur is to mine for gold.

You've got to dig where the gold is.

Otherwise, you'll get tired of hammering away at empty rocks.

These 'Must Move' prospects are 'gold'. You'll need to hang out wherever they do. Search them out. Identify them.

Then, you'll make money.

And that brings me to my last strategy.

Strategy 3. Investors

Most investors have money to buy properties.

You've got to find these investors and offer them what they want.

And that is how you can survive in this industry, come out stronger and be fully prepared when the boom times return (as they will!)

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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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