Summary

How do you survive in the changing market…and what is coming? 

1. Don’t BS yourself or other people. Don’t lie to yourself that things are going to be alright. With interest rate hikes & the worst inflation in history, people are worried about their financial state.

But whether the housing market actually shifts or not, it’s better to be prepared.

3. Stop thinking about survival, because this subconsciously puts you into ‘retreat mode’. You just want to hide until the storm passes. And when you’re panicking, you stop putting yourself out there to get listings and sales.
4. Go all in to win. Play to win (not just to survive), because there are going to be tremendous opportunities for the agents that are adapting, adjusting, and preparing. Commit all in to win because the shifts are going to require you to be in the game.

4.Find the opportunities.  Going into survival mode puts you in a mindset of scarcity, whereas looking from an opportunity mode puts you in a mindset of abundance. Opportunities in your market will open up when you start looking for them.

The 5 Mantras of Success

1. Dream bigger.
2. Move faster.
3. Push harder.
4. Get tougher.
5. Do more.

If you want to get more winning strategies for adding 2-3 more deals every month (no matter what storm comes your way), I’d like to invite you to join me for a FREE live webclass called, More Leads, More Listings, More Life. Get more details HERE. 

Full Transcript

Well, it is official. It is happening. The market is changing, and right on cue, agents are panicking. So if you are one of those agents who is here and going, “Okay, what’s happening? I don’t know what to do here. I don’t know how to deal with this,” especially if you’ve been in the industry for less than 10 years. And you were not an agent back in 2007, eight, nine and 10, the last time that the market crashed, this is a video that is made for you. 

Now, first, if you like this video, make sure you give it a thumbs up and subscribe to the channel, because I’m going to be putting up more and more videos like this. In fact, I’ve got a second part to this video that I’ll be putting out next week with more about how to win and where the opportunities are going to be in the coming changes that are happening in the market.

So, the question is how do you survive in the changing market, and what is coming? 

So I want to share with you several things that I think are really, really important. 

1.So number one is don’t BS yourself or other people into saying, “Yeah, the housing market is going to stay strong. It’s going to be okay. Everything’s going to continue to be the way it’s been.” Now, because of the pent-up demand we’ve had for so long, it is going to be a while before housing prices really start to drop. But I recently saw a video of a guy basically saying, “Hey, even if we’re coming into a recession, historically, a recession doesn’t mean that housing prices are going to fall.” And that is true, but there’s more going on in the economy and more going on in our nation than just the potential of a recession. Okay?

Right now we have the highest inflation rate that we have had in a generation. It has stuck, and it is holding on, and it does not look like our inflation is going to go down dramatically. Because of that the feds are raising interest rates. 

You know what that means for mortgage rates, as well. You are in a situation where the GDP contracted in Q1. They’re looking at the possibility that it may have contracted in Q2. If it does that, we are in a recession. We are also having the worst stock market start to a first-half of a year since 1962. My friend, that is 60 years it has been since the stock market started off a year, the first six months of the year, as bad as it is right now. We still have supply chain shortages. We still have people that are worried about their financial stability.

We still have fuel prices and all that’s gone through the roof. You’re beginning to see trickles of layoffs in some corporations in some sectors. And, as you know, as a real estate agent, interest rates have pretty much doubled in the last several months, and every indication is that there are more interest rates hikes coming. So what does that mean? Don’t BS yourself and don’t BS others and go, “Ah, it’s going to be alright. It’s going to be okay.” You need to prepare for the tsunami that is coming.

Now, here’s the good news. What if there is no tsunami? What if all this … The market’s about to shift. It’s going to change. Housing prices are going to drop. The housing market is going to start turning from a seller’s market to a buyer’s market. It’s going to get tough. What if that doesn’t happen? 

Well, here’s the reality. If you are prepared for the housing market to shift, and it doesn’t shift, you still win. But if you are unprepared for the housing market to shift, and it does shift, you’re going to be swept away by the changes. So it makes total sense. You have to prepare, and you have to be realistic and not lie to yourself or BS yourself and go, “Yeah, it’s going to be alright. This is … Everybody’s been scared, but things are strong. It’s going to continue to be strong.” So number one, don’t BS yourself.

2. Number two, if you want to survive the changes that are happening in a market correction or a market shift or a market downturn or a market crash, whatever happens next, stop thinking about survival. The only way to survive in real estate in a changing market is to stop trying to survive, because when you start thinking of survival, what immediately happens subconsciously is you start going into retreat mode. You start thinking, “How do I shrink? How do I contract?” And you want to go hide in a corner.

And the problem with that is you go in and just kind of, “I hope it passes. I hope it passes. And I hope I survive,” is you move into paralysis. And if the paralysis doesn’t work, then you move into panic. So first is freeze and just kind of hide, and then panic is flight. It’s just run for the hills. And here’s the guarantee: if you are paralyzed or you are panicking, it is guaranteed you will lose. As a real estate professional, as a real estate agent, you are not going to be out there in the game, on the streets, in the market, out there getting listings and getting sales. So stop thinking survival.

3. So here’s the third step: Go all in to win. If you want to survive in a market downturn, you don’t play to just keep your head above water. You play to win, because there are going to be tremendous opportunities for the agents that are adapting, that are adjusting, that are learning, and that are getting ready. So commitment is everything. If you want to win in the real estate market, you can’t think survival. You have to think winning, and you have to commit all in to win. This is not a time to dabble in real estate. This is not a time to be part-time. This is not a time to have one toe in the water and go, “Oh, let’s see how it works out.” If you want to succeed, you’ve got to go all in, and you’ve got to have 100% commitment to be successful because the shifts are going to require you to be in the game, focused, intense, and ready to rock and roll. Okay

4. Which leads then to the final step. I think it’s number four. My final point, and that is find the opportunities. Be watching and looking for the opportunities.

And in my next video that I’m going to put out next week, I’m going to actually talk about where 3 of the most powerful opportunities are that are coming. But you’re going to see opportunities, and there’s going to be opportunities that open up in your market just because you’re looking for the opportunities. 

Instead of looking for the collapse or looking with this imminent sense of doom and the sky is falling and looking for the signs that you need to run and hide, you start looking for opportunity, and you attack, and you look at, “Oh, the market’s changing. I’m going to attack.”

Shrink Mode vs. Survival Mode

I was recently talking to a friend of mine who works for a billionaire real estate developer and investor, and they said he comes into the office now every day, and he’s super stoked. He’s super excited. Why are you so happy? And he says, “Because, my friends, we’re all about to get rich. We’re all about to get richer, because the worse the economy gets, the more opportunities we have to make more money.” 

So here’s the difference: If you go into shrink mode or survival mode, it puts you in a mindset of scarcity, whereas if you look from an opportunity mode, it puts you in a mindset of abundance and going, “Wait a second.”

Now, there’s going to be people hurting. There’s going to be things that are happening. Housing prices may start dropping. Interest rates are going to be higher. It’s going to be harder for buyers. It’s going to be harder for sellers. 

That may all be true. What that means for the person who is ready as a real estate agent is it means more opportunity. That you have now opportunities to help more people and which will help you make more money. 

So this, my friend, is a time to elevate your game. You’ve got to learn. You’ve got to adapt. You’ve got to adjust. You want to be looking at how can I up my skills? How can I up my effort? How can I increase my focus?

The 5 Mantras of Success

So I train on what I call the five mantras of success. And I just want to share them with you, because I want you just to think about this as a way to win in a shifting market. When a storm is coming or chaos is breaking loose or there’s panic in the streets, you don’t dream smaller. You dream bigger. 

So mantra number one: dream bigger. Dream bigger. Don’t dream smaller. Don’t go, “Ah, I’m going to pull back my goals.” No, this is the time to go, “Okay, we’re going to accelerate.” This is the time we’re going to attack. We’re going to expand. We’re going to ascend, and we are going to win. So number one, dream bigger.

Number two, you’ve got to move faster. You got to be in the game, be in the game, move faster. When you see an opportunity, you’ve got to be all on it. 

Number three is you’ve got to push harder. Now, that means you’re going to have to push yourself harder. It also means you’re going to be in conversations with prospects and with leads where you’re going to have to do a little pushing, because they’re still holding onto this old idea of it’s still the way it used to be. Especially sellers who, right now, they’re like deer in the headlights going, “No, no, no, no, no. We’ve been holding all the cards for so long. Now our house will sell. There’s buyers. We’re going to get multiple offers,” and they’re still holding onto a reality that probably passed by a few months ago. You’re going to have to get tougher and better at leading people to decisions and helping them come to grips with the new reality.

And then number four is you’ve got to get tougher. You got to get tougher. More courage, straightforward conversations, and all of that has got to happen. And you’re going to have to be willing to take a punch, because you’re going to have people, buyers and sellers, who at the changing markets, they’re not wanting to accept it, and they … Who do they blame? They want to blame you, the realtor. “Well, you’re blah, blah, blah.” And they want to get on you. You just got to get tough enough to say, “You know what? I hear what you’re saying.” And you got to be on their side on this.

I get it. I know it’s frustrating. I’m frustrated with it. I would love for prices to be where they were. It’s just not the same. So you’ve got to have the mental and emotional toughness to be able to get into a game when it’s a little uglier than it was and people don’t have confidence and they don’t have certainty and they aren’t able to get the results that they used to get. And you’ve got to be able to deal with that and help them through that emotional turmoil that they’re feeling. 

And then finally number five is you just have to do more. Just got to do more because you’re literally out running a tsunami. Now, on the backside of that, when you look back at the opportunities for abundance, as you look at it and go, “Okay, there’s an opportunity. There’s an opportunity. Oh, there’s somebody I can help. There’s somebody I can help.”

So what I’m going to be doing is our next video. I’m going to actually talk about the three best places where there’s going to be tremendous opportunity for you as a real estate agent to grow your business and get more business as things change. 

Now, if you want the best tools and the training to adjust and stay ahead of the changes that are happening in the market, I want to invite you to go to yesmasters.com. Go there to check out our best training and tools and more resources that you can get that will help you prepare for all the stuff that’s changing so that on the middle of it and on the other side of it, you, my friend, can win.