RECESSION Real Producers

Economic Uncertainty YOUR CUSTOMER

You’re standing in the ideal property, and those dreaded words fall from the buyer’s lips like a Charlie Brown cartoon: “We think we’re going to wait.” Wonk. Wonk. Wonk. As a powerful real estate business owner, you confidently reply, “Got it. What’s stopping you?” To which they use a possible smoke screen: “The economy, the market, a potential recession.”

  • Discover – Find out specifically how long they plan to own the new property. Providing they are planning to hold the property longer than a couple of years, we continue.
  • Discern – Is it the fear of buying high, followed by a market drop that’s the problem? Or would an economic recession alter financial conditions in their lives – like business or stock losses – that would make maintaining ownership of the property difficult? If the buyer is simply concerned about property value (which most are), we’re in position to move the ball forward.
  • Thought change – It’s important to ask the customer for permission before sharing information with them.
    Why? Because we’re about to share facts that contradict their current thinking. Permission avoids conflict. With their blessing, we can step into control by sharing the following market history.

Economists have a 2023 recession potential pinpointed at 50%. It’s a coin flip right now. Historically, recessions have
averaged 12 months, from start to finish, with the tangible effects lasting about 24 months. Given that history, we are talking about short-term economic turbulence, not a depression. So, knowing there’s a 50/50 chance we might be headed for a little rough air, and knowing you’re not going to do anything with this property but use and enjoy it for the next several years, how does a temporary economic dip really affect this decision? —Coach Kerri is an award-winning entrepreneur and coach who develops real estate industry leaders in SWFL and Nashville. She’s the business strategist behind many agents, teams, and brokerages, coaching more than 1,100 business owners throughout her career.

The Market Conversation Difference

My clients hear from me constantly to ask more questions, get the truth, and bring the factual market with them to all situations. Market and historical facts become like neutral Switzerland! Without them, you’re often of one frame of mind, and your customer of another. We simply present the facts and let them reason out, opinions aside. With this form of selling, there’s no win/lose. It’s just discover/decide. —Coach Kerri