Is the recession coming? How should agents prepare? What should we expect?
Last year, I shot a video on "HOW TO PREPARE FOR THE COMING MARKET CRASH."
What is my take on it today?
It’s an EMERGENCY! The recession is coming...but...it’s not here yet.
If you’re not making money now when the market is still good, then you’re already in a personal financial crisis.
So, what’s the answer? Stop asking the wrong questions.
Here are the RIGHT questions:
1. What should I be doing?
- Working, not worrying. Massive action drives out fear.
- Prospecting and following up.
- Perfecting skills.
- Playing to win, not playing NOT to lose.
2. How should I be thinking?
- Your thoughts and mindset are more critical than anything else. Thinking about the disaster doesn’t serve you.
- Decide whether you want to focus on survival or massive success.
If you want to crush it when the recession comes, you have to be committed to winning. Be all in to win.
Choose not to participate in the recession. Be clear about your aim to succeed. Constantly take action, assess the situation and adjust as needed. That’s how you win!
How are you approaching the recession? Let me know in the comments section below.
It's an emergency. It is an emer... right now.
I get this email, this comment, this question probably more than any other question this year. And that is, is the recession coming? So I got an email that just triggered me and I got this email this week and it said, what is your take on all this recession talk and how should agents prepare? What should we expect? And I get that kind of question. It's like, are we already in a recession? Is it here? Is it coming? How bad is it going to be? How long is it going to last? And on and on and on and on.
So first, let me just say this, last year, about a year ago, I shot a video on how to prepare for the coming market crash. We're going to put the link down in the description of the video below so you can click on that and you can go watch that video on how to prepare for the coming market crash. Because I said then and I'm going to say it again, it's coming. And so the question is, what is my take on it today? So that was a year ago. Now what is my take on it today? Where are we in the process?
Here's my take on it. It's an emergency. It is an emer... right now. Right now it's an emergency. It's an emergency for you. It is an emergency for your business. It just flat is an emergency because the recession is coming. And personal confession, my wife and I have been watching The Game of Thrones and we didn't watch it when it was going on. We just heard about it afterwards and were finally like you know what, we should. And on Friday nights and Saturday nights sometimes we'll watch two or three episodes. So we've been going through this for now months. And one of the phrases in the first few seasons of The Game of Thrones is winter is coming, winter is coming, winter is coming. And my friend, winter is coming, but not yet.
It's not here yet. The market is still good. Houses are still selling. Interest rates are the lowest they've been in like ever. And you can make money right now. So is it coming? Yes, it's coming, but it's not here yet. And if your market's already slowing down, it's already doing this or all that. Don't tell me a story about it, but my market's different or it's, well, I don't know where you are, but it's already down here. Okay, so whatever it is it is, but wherever you are, houses are still selling, interest rates are still low and you can still make money now. And if you are not making money right now, then my friend, you are already in a financial crisis.
Doesn't matter what the market's doing. You see, you've got to stop depending on the market and what the market is doing to be a predictor or a determinant of whether you're going to fail or succeed. If you're in financial crisis right now, if you're not making the money you need to be making, you're already in your own personal recession or maybe depression or maybe in a complete economic collapse. So what is the answer to all these questions that I keep getting is what's your take on the recession? How bad, how long when, all that kind of stuff.
Here's the answer. Stop asking the wrong questions. That, my friend, is the wrong question. When's it going to be here? How bad? The wrong question. Let's talk about the right questions that you should be asking. So I'm going to give you two questions that you should start asking right now and you're going to have to keep asking them over and over again.
Number one, what should I be doing? That's the right question. Why should I be doing? And here's what you should be doing. You should be working, not worrying. You should be producing, not pondering, not fretting, not researching. You should be working in what is happening in the market right now and working on what's happening now. Prospecting, lead followup, going on appointments, selling houses. That's what you should be doing right now. Perfecting your skills, that's what you should be doing right now. And here's the thing, massive action will drive out... it just drives out fear. Massive action drives it out. It energizes you, it compels you, it helps you get better. Right now, what should I be doing? You should be working. You should be taking action. You should be perfecting. You should be playing to win and not playing not to lose.
Now this is a critical difference. There's a huge difference between playing to win and playing not to lose. Playing to win means I will succeed, massive, I'm going all in. Playing not to lose is like how do I keep from falling apart and how do I keep from going out of business? And when your focus is on not going out of business, guess what, my friend, your days are numbered. So number one, what should you be doing? That's the right question and you should be working, producing, and making money right now and do whatever it takes to do that right now. Go back to my other video that I already referenced on how to prepare for the coming market crash to talk more about that.
Then the second question that you should be asking, the right question is how should I be thinking? It's... perception and your thoughts and your mindset and the conversation you're having with yourself and the story that you're telling to yourself, that is more critical than anything else because I look at these emails and I get, I've got comments on YouTube videos and on social media and I got emails. And these questions about how bad is it going to be, how long, when, all that kind of stuff. The thing about those is is you're thinking about the wrong thing. You're thinking about the catastrophe, you're thinking about the disaster. You're thinking about, "Oh no, Oh no, the sky is falling, the sky is falling." What are you going to focus on? Are you going to focus on trying to stay alive? Survival? Are you, do you want to focus on massive success? You want to focus on getting rich.
See, here's the thing about what's going to happen when the recession does come. Two things are going to happen for most agents. Either they're going to get crushed or they're going to get rich. That's how it plays. You're going to get crushed or you're going to get rich one way or the other, one or the other. You got to make a decision. So what should I be thinking? I don't want to be thinking, how am I going to survive? What do I need to do? I hope, I hope... what if... stop thinking that way. That that thinking is going to kill you. It doesn't serve you, it makes you freak out and you are not powerful when you are in freak mode. Hey, you're just not. Panic is not a powerful state to be in.
So stop thinking about survival and start thinking about massive success saying, I'm crushing it now and I'm going to crush it when the collapse comes, when the recession comes, whenever whatever's coming comes, I'm going to be on top of it and I'm going to be winning, not surviving. Because when you are crushing it and when you're making a ton of money, you have a ton of money, all it represents for you is more opportunity. That's it. So to do that, here's got to be your thinking. I am 100% committed. You've got to be all in. You cannot go into a market downturn with... it's like the ship is leaving the dock. It is a bad place to be having one foot in the boat and one foot on the dock. You want to win in real estate, you better be all in. You better be all in to win. Okay?
Not all in to survive. All in to win. Because if you're going to survive, then what happens when the ship starts taking on water? You're going to freak out and you're going to want to jump overboard, which is even worse. So you got to be all in to win 100% commitment, 100% determination. I will do whatever it takes, and I'm not only going to survive, I'm going to thrive and I am going to have massive success. And you simply do what a lot of people did back in 2007, 2008 and 2009. They simply chose not to participate in the recession. Country is going to have a recession. The economy's going through an economic collapse, but not me. I am not going to do it now.
I wish my story was different. What happened to me during the last economic collapse? I went right down the tube with everybody else. Why? I wasn't prepared. I wasn't prepared for it mentally, I wasn't prepared for it emotionally. I wasn't prepared for it skill-wise, just strategically. I wasn't ready for it. I didn't have, I didn't see it coming. And now everybody sees it coming, so to speak. But there's, but when you see it coming, it's how you think about it and you perceive it that is going to make all the difference. So you choose to win, not survive.
That's how I want you thinking. I am going to crush it. I am going to win. And to do that, you got to be clear. You got to have a clear about your aim and that I am going to succeed. I am going to win. You've got to be constantly aiming for your what you want. You've got to be constantly taking action. You've got to be constantly assessing what's happening, constantly adjusting. That's going to be a requisite to win in the market shift. It just is. In every market change, every time we go through a recession, that's what's required is you've got to have clarity about what you're going to do, aim, act, assessing, adjusting, light on your feet. You got to be light on your feet, which means you got to be ready to make an adjustment, change your strategy, change your approach and learning from the people who are doing it the best and having the best success. And just aware of what's happening, having your eyes open.
And just to kind of maybe steal a line from Muhammad Ali is when the market turns you got to float like a butterfly, sting like a bee. A recession may be coming, but it's only winning for me. And when you approach it that way and you think about it that way, and you ask the right questions, it's going to be great no matter what happens to the economy. It's going to be great for you.
If you like the video, make sure that you give it a thumbs up. Post your comments, your questions, your thoughts down below. I'd love to have some conversation and just feedback from you guys on what you're seeing and how you're approaching it so that when it comes, you win.