Market Corrections come and go…
The majority of real estate agents are in survival mode. How can they get out of that mindset and take advantage of the good condition of the market? Should you be spending more money on expanding, or putting money away for the market correction?
When the market shifts, the real estate industry is going to shrink. If you play your cards right, and save money right now when the market is great, there will be many opportunities on the other side. A lot of agents throw money at other things instead of taking advantage of this market to put some cash away. DO NOT follow that trend.
Instead, decide to be a steward of a good market and prepare financially for what’s coming. Get your core systems in place and track your numbers religiously. When you do, you’re going to see your own ratios start to shift, and you’ll notice the market is shifting before everyone else.
A lot of agents focus too too heavily on how much they are earning, rather than the number of transactions they are doing. Why is this a big mistake? How do you do outbound prospecting in high volumes? How can you undermine your competition to become the top agent in your market in 5 years? There’s only two ways you’re going to make money in this business. You’re either going to go out and get your money or you’re going to spend money to have it come to you.
You decide what type of agent you’re going to be!