Are We Heading Towards Another Housing Crash? How Can you Survive?

Right now we should all be in preparation mode to make it through the impending recession. We don't know exactly when it will start, or if we are already in it, but we know it is coming!If you start preparing once the recession hits, I'm sorry to tell you it'll be too late. The time is not to start evaluating your business so you can be one of the few that make it through. The typical recession can last anywhere from 12-24 months so you can start now by closing as many deals as you can and saving money in your emergency fund. As we know, real estate and housing will always be a necessity which means being a realtor will be essential. No matter what state of the economy we fall in, people will always need to buy and sell real estate. We saw a perfect example of this during the pandemic when most states were in lockdown. However, we had the most robust selling seasons I can remember. The way you can prepare your business to withstand the recession is to make sure you have a steady flow of incoming leads. You know you won't be able to close every lead that comes in, but based on your personal conversion rate, you should be able to close a few. We will talk about conversion rates another day.It is recommended you have at minimum 3 lead sources and at best 5 sources that consistently feed new leads to your database every day. If you look at the most successful realtors, most have at least 3-5 lead sources. If you are only depending on one source, you probably have a lot of inconsistencies in your business. Such as, not having a closing every month!In this episode, I give you 5 examples of lead sources you can begin to implement into your business right now. The goal is to grow your lead pillars to at least 3. If you only have 1 right now, focus on adding another until you have a minimum of 3. If you have too many, analyze your lead pillars to determine if they are actually driving any leads to your database and more importantly are closing those leads. Let's work on getting consistency in our business and building our people so we can continue to work through the recession and capture the people who will need to buy and sell real estate, even through a recession. Signed,Tabitha Richardsonaka "The Real Estate Baddie"www.6FigureU.comIf you are a realtor who wants to grow their business by learning how to implement processes and systems, like this episode and subscribe to my channel!Join my online group coaching program that meets every week on Monday at 8am to grow and scale your business. Click to join https://app.mmpowerhour.com