A real estate agent who left corporate in 2007 argues recessions create opportunities, not threats. He predicts many agents will quit, leaving less competition. The move: double down on lead generation and conversations to grow your net worth when others panic.
The agents that are sort of buying into all the. I call it FUD right F U D fear, uncertainty and doubt that is going to paralyze. And Mike talked about this on our podcast episode. He went through the business crisis trend where it's going to stage one. It's shock, where business owners, real estate agents, they startle and they freeze up. Stage two is desperation, where they stampede, overreact, and then they do a bunch of first it's inaction and then it's wrong actions. And then stage three is, you know, eventually they get around to sort of assessing and evaluating where they're at and then there's this sort of deliberate action and recovery. So our job, I didn't have a choice but to double down. I left a cozy corporate job in 2007 and shit hit the fan. And I just committed to doing whatever it took to have as many conversations to generate the right type of leads and have as many conversations as I needed to have to be able to provide on this big vision I had for my family. The big vision I have for my family didn't include my market going from 15,000 agents to 5,000 agents. My market now is at 18,000 agents. And I think we're going to see the same reduction in. I would venture to guess that we're going to be under 10,000 agents as this economic. There's a bunch of things happening. There's a big technology shift, there is a sort of a 50 year cycle, 80 year cycle and there's even like a 250 year cycle in terms of just changing world orders. That's happened forever and they're all converging at the same time. So I think it's just going to be really interesting. It's not just the US economy that is in inflation. Ours is really, really bad. But most countries are even worse. I think it's like 71 of the world's central banks have had interest rate hikes the same way that we're going through. So this is a global reset and a global economic reset that I think we're going to see. But the thing I want to give you so much comfort around because I'm fired up and ready to go. This is going to be where, um, I was listening to a podcast the other day where this is where you can add a zero to your net worth. So if your net worth is a hundred thousand in the next three years, we're going to take it from a hundred thousand to a million. Because in real estate, you know, we're going to lose probably two thirds of the agents and then maybe half of the other third are going to be in complete sort of inaction and sort of just paralyzed with the fear, uncertainty and doubt, at least for a period of time, at least for a.
