Home sales spike, yet medium prices fall, banks are under stress, commercial defaults are on the rise, and the fed raises rates again. What do you make of all of this?
Remember in January I made 6 Predictions for 2023 because a lot of what we are seeing is cyclical, thus predictable as Ray Dalio recently wrote about it in this article.
You need to know what comes next in the cycle and that is credit tightening as banks hold on to their cash assets to strengthen their balance sheets, thereby reducing lending.
What does this mean for you?
The number of buyers and sellers you had in your pipeline which produced a certain level of income for you a year ago is no longer a relevant number. My estimation is you need a pipeline of double that size to produce the same results given the number of headwinds that impact the transaction right now.
So, head down folks. You know what you need to do. Focus on revenue-producing activities. Build that pipeline and watch your business grow as others falter.
Now, if you’re having a bang-up year so far, good! No, Great! Don’t get complacent. The tide can go out as fast as it comes in.
Eliminate distractions. Do the work. You will be rewarded.
You’ve got this, and you have me in your corner.
P.S. If there was ever a time to get a handle on your monthly financial numbers, now would be it. A plug for Alchemy of Money? Sure. But most of all, an advocation for your future self who is waiting for you to take action now.