How were you staying busy in the 2008 recession ?

[Francisco Milan]

Hello Everyone,

Wanted to ask the professionals of this forum who have been around for a few crashes, how were you staying busy in the 09 recession ? What did you focus on to serve your clients and get closings ? What skills did you have to learn ? Did you target any specific buyers or sellers ? If yes what was the criteria ? 

Your response will be highly highly appreciate

[Dan Nelson]

Recessions are not bad for buyers - only sellers.  The challenge for buyers is trying to decide which property to get.  They can get overwhelmed thinking the market is going to get worse or they are overpaying.  The best thing you can do is pay attention to the market and know if it is going up or down.  If it is going down, you can get more aggressive on the asking price.  They want to see you bring knowledge, share it with them, and lead confidently.  If you do that, they will love you. 

The real challenge is if you are selling during a recession.  If the market really goes that way - and I am not certain it will because we still have a massive inventory problem, you just have to be realistic with sellers.  During a downturn, the houses that are finished are going to sell first.  Any unfinished house is going to look like a bargain to buyers and they should be prepared for that.  

Basically, there is no reason to be worried.  Pay attention to what's happening and know your market.  You will always have success if you do that in any market.