Markets & Economy

Podcast: What you need to know to survive a downturn

Learn the '7 Ps' so you can ensure you're prepared
  • If you want to weather any storm, you must know how to read the conditions.

With rumors of a new market meltdown coming, do you know how to thrive no matter what?

If you want to weather any storm, you must know how to read the conditions. The first secret to that? The 7 Ps: proper previous planning prevents pitifully poor performances.

Whether you’re in a buyer’s, seller’s or balanced market, learn the basic rules for identifying your market and how to do more than just survive!

How do you know if your local market is changing? An increase in BPO (broker’s price option) requests is a key indicator — if you’re seeing more BPO requests come through, then keep in mind that foreclosures are the likely endgame for each of them.

Remember, the biggest fortunes are always made in times of change. A downturn in real estate does not have to mean a downturn in your personal income. Hope for the best, be prepared for the worst, and make sure to listen to today’s episode to not only survive a downturn, but thrive in it!

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Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at realestatecoachingradio.com.

Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.

Email Tim Harris.