Recession cost-cutting translating into corporate productivity and profitability
On March 10, right after the market hit bottom, I mentioned that corporate cost cutting and layoffs does have a silver lining in enhanced productivity and profitability. During the last few weeks, earnings reports are starting to show that although revenues have certainly been hit by the recession, profitability is better than expected. The summer rally is factoring in the new wave of corporate prudence.
For the real estate industry, the most productive brokers and agents can take advantage of a resurgent housing market because the effects of both brokerage and agent cost-cutting has winnowed the ranks dramatically. The new world of real estate is now geared to "fend for yourself" and puts a premium on agent innovation and adaptability to succeed. Spend next week in San Francisco to see that innovation in conversation.
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