What Are Lessons Learned From the Last Housing Recession – Some Tips

Housing sales and prices have been affected by COVID-19’s impact on the state of the economy. Here are some tips to help real estate agents through this challenging time.

Don’t pretend that it’s business as usual. Review your budget and make sure to cut out anything you don’t need. Every dollar you spend during a tough economy, you may not get back, so buckle down and be prepared, not naïve.

Stack your team with the players that are vital to your real estate business. Now is not the time to ensure everyone is happy. It is more important to ask yourself whom you can afford to lose. Be realistic and focus on the team members you need to keep around and take good care of them.

Planning is everything, and having a detailed plan of how you are going to make money. Ask yourself questions like – How many sales should I make to pay my minimum expenses? Pay special attention to your sales funnel, every call that becomes a lead counts toward real sales. Don’t lose focus on the uncertainty of the times, keep moving, continue to communicate with employees and clients and, most of all, aim to make one massive move a day. Don’t wait for something good to happen; go get it!

Our energy can be deeply affected by the stress and turbulence of dealing with global changes that hit hard at home. Self-isolation, lack of contact with people and being stuck working from home can make you feel horrible. So take time, schedule it, 20 minutes a day where you can forget about your work and concentrate on being happy, peaceful, positive. There is no point charging through if you lack energy, so do your due diligence to take care of your mind and body throughout the pandemic.

During this time, reverse roles and be the one in charge. The one others can look to and count on. Your clients and friends are scared, worried and surrounded by negative news all day. Call to check in on people, share positive messages and be an inspiration.