Instead of making significant changes in your real estate business, broker-owner Gavin Payne recommends making smaller tweaks to navigate a shifting market smartly.
I’ve heard the word “headwinds” a lot lately. The literal definition, a wind that is blowing toward you and slowing your forward motion, applies when flying or sailing. When contending with headwinds, it often takes more time to reach the final destination, delaying arrival. Or it requires more power to arrive on time.
In an economic sense, headwinds come in the form of events or conditions that slow down the growth of an economy or make growth harder. In today’s real estate landscape, these can be increased mortgage rates, rising inflation or decreased housing starts.
Typically, the term headwinds is negative. But if you’re like me and have been through several real estate cycles, shifting market conditions means just that. They are changing. It doesn’t mean we have to respond in kind.
When faced with a barrage of sensational, fear-inducing interpretations of data, many real estate professionals’ knee-jerk reaction is to make a big change to overcome headwinds. A broker could decide to start paying…
