BrokerageIndustry News

Technology saves real estate biz in down market

Little gadgets turn into money well spent

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

A buyer's market is the most difficult type of market in which to make money. Are you prepared if this downturn strikes your business? For the last six months, I've been telling agents that a downturn is coming in many of the major markets. Recently, Federal Reserve Board Chairman Alan Greenspan predicted a downturn in the real estate market that will result in a decline in prices and fewer sales. For example, what happens to your business and your profitability when gas is $4 or more per gallon? If you are already struggling to get by, here are seven strategies to help you weather the upcoming storm at the gas pumps as well as a potential market downturn. 1. Have buyers pre-approved, not just pre-qualified Save gas, time and effort by asking all buyers to be pre-approved, not just pre-qualified. Pre-approval means that the lender has looked at the buyer's credit and is willing to make a loan provided the property appraises and the title is clear. Do not work with buyers who cannot ...