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Don't wait for another downturn: recession-proof your business today

 
 
Tom Ferry’s tips to dominate – even in a changing marketplace  
At our recent Success Summit, I spoke to 6,000 agents about the impending market shift coming to our industry. No one is forecasting a devastating, 2007-2009-type recession, but make no mistake: we’re due for a downturn and a return to a “new normal” market devoid of the incredible demand and appreciation we’ve witnessed lately.
“Bravo!” to those who’ve made it through the last recession. But, for those with less than 10 years in the industry, you’ve never witnessed anything like it. Behold — this type of paradigm shift will require all of us to adjust our mindset and tactics. With that in mind, here are five ways agents can continue to dominate in a changing marketplace over the next 18-24 months.
Ask yourself this important question
Are you a hobbyist, or are you running your own business?
Let’s face it, the majority of people who have a real estate license are hobbyists. They don’t treat their trade as a business. They don’t know their numbers. They’re not concerned with innovation and marketing.
But as we enter a changing economy, being a hobbyist simply won’t work. These agents will not survive.
If you’re reading this, there’s a good chance ... more

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