I have five tips to share with you that can help you survive the next market correction.
I recently listened to a number of agents talking about a shift in the market. Some said they were excited and that it would be a great opportunity, and that got me thinking. They weren’t excited about the change; they were excited about the end result of that change and the opportunities it would bring up.
A market shift or correction tends to weed out limited agents or those who don’t know their craft, but what about what happens within that correction time frame, though? What’s your survival guide?
About 85% of you haven’t been through a market correction like I have, and I’ll be honest with you—it was horrible. I’m not trying to scare you; I just want you to survive the next market correction. To accomplish this, there are five things you need to do:
1. Become a master at prospecting. If you wait for business to come to you, I promise you’ll go away.
2. Have money in reserve. This will help you survive when times are tough.
“Prepare yourself so that you can outweigh the competition.”
3. Put money in places that will increase your cash flow. For example, I was able to grow my business because I had rental properties.
4. Grow your database. Have people you can talk to and follow up with and resources you can use.
5. Master your skill sets. I don’t know what the market is going to bring, but you’ll have to adjust and be the best. If you’re showing up to work at 60% or 70% each day, you need to start showing up at 100%.
If you’d like to delve further into this subject matter, I have two links that can help you:
• Click here to download an episode of my “Real Obsessed” podcast that lists all these tips and explains them in great detail.
• Click here to get a copy of the book “Winning Real Estate: 9 Secrets to Success From Leading Pros,” 20 pages of which is devoted to my system and how I survived the last market correction.
If you have any other questions about this topic, don’t hesitate to reach out to me. I’d be glad to help you.
