The economy has come a long way since the recession. Agents should be enjoying the increase in business that comes with a more stable housing landscape and stronger buying power. While we’re all benefitting from the long upswing, we have to keep in mind that it can’t possibly last forever. We’ve been in a bull market since 2009, making it the third-longest in US history.
Take inventory while times are good and start making safe, diversified investments. Feed your rainy day fund. Save aggressively while money is coming in. We all know people who left the real estate industry when the housing crisis hit because they didn’t have a solid foundation.
I’m not saying that we’re going to fall into another recession, I’m not even saying we’ll fall into a bear market anytime soon. I’m just saying when times are good we are in the best position to prepare for the fallout. If we stand ready with a safety net, then we dodge any issues and can leverage a downturn to make even more money when the market bounces back (the way some folks made a killing buying property for pennies on the dollar during the great recession).
The market is like the universe: forever in flux. Few professionals understand this better than real estate agents. This spring, the sun will be shining bright, so make hay.