I wanted to take a minute to discuss what's going on in the marketplace and what you can do to prevent a possible negative impact on your business.
In real estate, we generally see four market trends: the bottom of the market (2009), the increasing market, the top of the market (now), and then the decrease in the market. We believe indicators are showing that the market is shifting because these shifts always start externally and move inward. For example, if you have a listing over $500,000, it's probably been challenging to sell. Secondly, the volume of our market from June to July decreased 17.3%.
YOU WON'T SEE THE MARKET DECLINE UNTIL IT'S IN THE REAR-VIEW MIRROR.
When the market shifts to a declining market, it shifts fast. We won't see the shift until it's in the rear-view mirror. So how can you protect your business from being negatively impacted by the shift?
Start by treating your business today as if it were already in the declining market. Do this by generating leads every single day; make it the first thing you do. Next, save cash. Instead of buying a BMW after your next closing, put some money in the bank. Prepare so you can avoid what we saw in the crash of 2007 to 2009 when almost 40% of agents left the marketplace.
If you want to learn more about how to bulletproof your business from the impending decline, feel free to reach out to us by phone or email. We'd love to help you out in any way we can.
