Riding the wave: Real Estate Cycles
Have projects ready to work on
Downcycle do
have a plan and stick to it
Downcycle do
set money aside to tide you over
Downcycle do
In the resource, Maddie says the best place to spend your marketing dollars is your sphere of influence and your farm area. What is your farm area?
a targeted area or market demographic in which you plan to cultivate your business
supply is high and demand is low
buyer's market
break away from your sphere of influence and explore new territory.
downcycle don't
buy into a few leads services to generate business
downcycle don't
invest in high-end advertising to get your face out there
downcycle don't
In Maddie's world, when does the real estate downcycle usually occur?
from mid-November through the end of December
make contact with a whole new set of people by investing in a few different leads services
no
put more money into advertising to increase your exposure to the general public
no
In the resource, Maddie talks about real estate being cyclical and having its ups and downs. What can you expect to see during a downcycle? What can you expect to see during a downcycle?
no on is buying and no one is selling
supply is low and demand is high
seller's market
both supply and demand are low
stagnant market
provide excellent service
yes
stay in touch with your sphere
yes
stick to your plan
yes