How to Thrive (And Not Just Survive) the Upcoming Recession 

As the real estate market changes so rapidly, it’s natural to feel uncertain about how to go forward. The best advice? Stop, take a deep breath and then return to the basics that have helped you achieve success so far. Strengthening the fundamentals of your business will allow you to feel in control and ready to handle whatever happens next.

Prioritizing Your Work

We all have the same amount of time in the day but it’s what we do with that time that matters. You can’t work 24/7.  It’s not healthy and it’s not productive. You need to have time to refresh and enjoy all the parts of your life, not just the business side.

Before you shut down each evening, write out your to-do list for the next day and then prioritize the tasks. The next morning, tackle the highest priority ones. Not only will this get them off your list, you will also feel a great sense of accomplishment to carry through with you during the day.

Consider using a time management technique such as the Pomodoro Method.  It’s very simple but effective. You set a timer for 25 minutes and work on one and only one task. After the 25 minutes are up, take a 5-minute break and then you can go back to the task or go onto a different one.

Delegate

Are there some tasks that you can delegate? Sometimes we feel “I am the only one who can do this!” But ask yourself – would it make more sense to hand it off to someone else? Is it worth giving up some control to gain some free time so you can focus on higher priorities or take time for yourself?  If you don’t have an assistant, consider hiring someone for a few hours a week such as a retired person, stay-at-home parent or a student.

Share With Others

Talk to others in your industry who have gone through market changes, especially during recessionary times. Agents who have survived – and thrived – through tough times can offer advice, encouragement and tips on best practices.

 

Talking to your peers can also help. Join a Facebook or LinkedIn group where you can hear from other agents how they are facing the changing markets. You will not only learn new ideas, but you may inspire others as well.

 

The Value of a Coach

The support of a coach can be invaluable in helping you transition in stormy times. A coach can help you establish your goals and assess if they are realistic or a bit too broad. They will help you strategize on what is important right now as well as tangible longer-term goals. They will help you stay calm and measured, and on task and equip you with strategies to help weather any challenges ahead.

 

At Buffini & Company, our coaches are leaders who have collaboratively served 1.7 million coaching calls and have more than 1 million hours of coaching, working with clients through all types of market shifts, including the Great Recession of 2008.

 

One of those clients is Kathy Terhune, who has been with Buffini & Company for 22 years.

 

”Following the financial basics, I was able to survive the recession,” she says. “I couldn’t have done it without my coach at the time, Jules, in my corner.”

 

Linda Farish, who has been a member for 21-plus years, agrees. She notes that the entire Buffini & Company, as well as her fellow members, “are a constant source of strength, encouragement and support for me through personal trials, recessions and even pandemics!”

 

“I continue to achieve family, personal and business goals I never dreamed I could accomplish,” she adds.

 

Don’t let the upcoming recession stop you in your tracks. Contact Buffini & Company today for a free consultation, and don’t miss this free virtual event to learn how to stand out, lead your market and finish the year off strong!