How to navigate a recession

Facing a potential lengthened recession, real estate brokerages, especially those with large footprints, should deputize local leaders to make important decisions based on local information while adhering to core company guidelines. While easy to consider, layoffs are often not the best long-term option, as hiring and training costs can be high; consider furloughs and reduced pay to bounce back quickly when the market returns. Adoption and training are always tricky to implement when schedules are full; use this time as an opportunity to refine and implement processes that streamline operations.