Warren Buffet’s Secret to Thriving in a Down Market

There's a new survey that was done by the National Housing Survey, which was just done in June. So it's fresh data. And it shows a divergence that we haven't seen probably in the last 10 years or more.

It shows how many people think that the economy is on the wrong track:

81% of Americans believe the economy's on the wrong track.

So when you look at that number and we put it in perspective of people that are buying and selling real estate, how do we have that conversation? Where people think, oh my gosh, we're on the wrong track. I don't know that I should be buying.

We call that consumer sentiment. Or I don't know if I should be entering this real estate marketplace.

What can we say?

How can we address that concern where people think it's the wrong time to enter this market?

Well, a good lesson for us is to model successful people. People that are more successful than us, right?

One of the most successful people in our country, one of the richest people on earth is a guy named Warren Buffet.

Now what does Warren Buffet say? You might have heard it before. I certainly have heard it from my stock broker many times. But it applies to real estate right now:

"Be fearful when others are greedy and be greedy when others are fearful."

Go back and think about when everybody, the mass of humanity was coming into the real estate market and saying, I've gotta own real estate right now. When was that? Just like six months ago, like a year ago, everybody was in the market. Kind of like crypto, if you remember that.

So when everybody's in the market, is that the time to be in the market?

No. According to Warren, you say, be greedy when others are fearful, be fearful when others are greedy.

So think about that coming into this market where it seems a little bit more bearish where people are saying 81% of people think it's we're on the wrong track. Isn't that exactly the time to be a bull? Isn't that exactly the time to be entering the market?

That's what Warren's doing right now. When you compare this to the stock market, Warren's coming into the market and buying stocks right now because he thinks it's a great time to buy. When others are fearful, he's going in. We could say the same thing about real estate. Wouldn't you rather enter the market when you can find great buys? When people are out there and they're saying, "Hey, you know what? I'm, I'm kind of panicked as a seller. I wanna unload this compared to last year when we were in multiple offer situations every single time."

So that's a message maybe we should be talking about with our clients — especially with our buyers and talk to 'em about this concept of following guys like Warren Buffet. Instead of just following the herd, following the masses.

I guarantee it'll resonate with a big part of your sphere, especially with investors. Investors will say, you know what? That is so true and it will ring true for them. And if it does, you might be able to turn some of these investors into clients right now.

So guy, there's a quick message. See if that works for you in your market. Have a great day.

Need help dominating your local market like Warren Buffet dominates the stock market? Then join The Path.

The Path is a mentorship and coaching program for agents and brokerages, which gives you an unfair advantage in your market.

Here's a sneak peak of what you get when you join The Path:

+ 20 Weeks of Daily On-Demand Coaching so you can find more high-quality leads more often and turn them into more listings
+ Hundreds of Downloads - System, Forms, Checklists, and scripts to make your job easier
+ Live Coaching - Multiple Times a Week
+ Goal Tracking and Activity Tracking
+ New Marketing Assets Delivered Weekly

And you get two weeks to try it out for free. Visit https://www.erealestatecoach2.com/Three%20Reasons to get started.