Recession Proof Your Business as a Real Estate Agent
It's been a wild few days for the stock market and even prior to this past week, there's been so much buzz among real estate agents about how to recession proof your business.
I know so many of you are starting to feel a squeeze (or maybe you've felt it for a while) with clients pumping the breaks or lowering their budgets. I want to share two things you can focus on –
While the news will focus solely on those negatively impacted – let's get creative. Think about who isn't impacted or going to press pause. Who's still going to buy & sell?
Go where the MONEY is and go where the URGENCY is. I'll expand on these below.
GO WHERE THE URGENCY IS
Focus on clients who have urgency behind their transactions… those who HAVE TO move now. Think: those relocating due to work, family or other necessary reasons. While I personally think now is an excellent time to invest in real estate rather than the stock market, I've heard from a lot of you who's typical second home buyers are pressing pause right now.
How? Target them on social media. ↓
→ Join The Agent Toolkit by 4/15 to secure the current rate before it increases. Get access to a full social media strategy, templates & more that actually work to convert clients.
GO WHERE THE MONEY IS
While the news will focus solely on those negatively impacted – get creative. Think about who isn't impacted. Who's still going to buy & sell?
01. Those who's down payment isn't impacted by the stock market because it's tied up in the equity of their current home. Attract those who are selling & buying a new home.
02. Wealthy people who aren't losing sleep over a fluctuating stock market. You have two options here – those who's purchase of a primary residence isn't dependent on the stock market and those who want to invest in real estate because they see it as a more stable investment than the stock market.
Instead of sweating over clients who are pressing pause out of concern, focus on increasing your price point.
→ Our client, Christian, went from selling $275k homes for the first 30 years of his career to breaking into an ultra luxury (and new to him) market and signed over $90 MILLION in listings in the last 6 months, in large part due to utilizing our social media marketing strategy.
→ Join The Agent Toolkit by 4/15 to secure the current rate before it increases. Get access to a full social media strategy, templates & more that actually work to convert clients.