SOTM 41: Coronavirus Hammers the Service Sector, Compass Cuts 15% of Staff
With businesses forced to close their doors to help stop the spread of coronavirus, countless Americans are now out of work. Already, the real estate industry is feeling the effects of this sudden economic downturn. Compass cut 15 percent of its staff Monday, citing a projected 50-percent drop in revenue over the next six months. On today’s State of the Market podcast with David Osborn, we discuss this story and why cutting expenses now is absolutely essential. We also talk about what real estate agents can do to make it through the recession and thrive once normalcy returns. Get Instant Access to Hundreds of Free Real Estate Tools Visit hibandigital.com/toolbox Claim Real Estate Discounts, Free Trials, and More Visit hibandigital.com/resources Sponsors Rebus University - Get Over $10,000 in Real Estate Training for as Little as $97 Visit futureofrealestatetraining.com PadHawk - Find Your Market's Best Leads for FREE with a 7-Day Trial Visit padhawk.com Roddy's FLS - Discover Unbeatable Real Estate Deals with a FREE Foreclosure List Visit 4closure.info Learn more about your ad choices. Visit megaphone.fm/adchoices…Continue readingSOTM 41: Coronavirus Hammers the Service Sector, Compass Cuts 15% of Staff

With businesses forced to close their doors to help stop the spread of coronavirus, countless Americans are now out of work. Already, the real estate industry is feeling the effects of this sudden economic downturn. Compass cut 15 percent of its staff Monday, citing a projected 50-percent drop in revenue over the next six months. On today’s State of the Market podcast with David Osborn, we discuss this story and why cutting expenses now is absolutely essential. We also talk about what real estate agents can do to make it through the recession and thrive once normalcy returns.

SOTM

Listen to today’s show and learn:

  • The unprecedented situation we’re in now [2:31]
  • Compass lays off 15% of staff [6:33]
  • The NAR’s new coronavirus addendum [16:04]
  • How coronavirus is shifting the world to virtual services [18:23]
  • Why masterminds are more valuable now than ever [20:49]
  • Opportunities created through crisis [26:23]
  • What agents need to be doing now [28:37]
  • How to break through your goals.
  • Plus so much more.

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Source: hibandigital.com