Three tips to help you survive during the upcoming recession.
The experts agree: It seems likely that a recession is coming soon. How can you prepare for it? In my opinion, the best way to protect yourself from financial fallout is to grow your business, so today I’m sharing three tips to help you thrive during a recession:
1. Expand your market. If you’ve only been working on one or two types of real estate transactions, now might be the time to branch out. Go to some local networking events, collaborate with local non-profits, and expand your clientele. The more you spread your influence in your local community, the more leads you’ll generate.
“The best-known agent will get more business than the best agent.”
2. Digitize your business. Integrating technology is a great way to reduce your overhead and cut costs. If you work for a cloud-based brokerage, many of these technologies will already be available. For example, consider working from home more often. If you rent out an office five days a week, try cutting it back to two or three. On top of that, consider doubling down on digital advertising instead of print.
3. Increase your reach. Now is the time to do more on social media. If you struggle with social media, hire an expert to do it for you.. I can’t stress enough how important your digital footprint is. If you become a local celebrity, business will flock to you. After all, the best-known agent will get more business than the best agent every time.
If you have questions about today’s topic or anything else, please call or email me. I am always willing to help!
