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Are there any agents out there that do not look at the current market as the end of the world? I personally am delighted with it. Not that I wish anyone financial hardship.
There are many issues at play in the last 4 or so years that have affected my business in a negative way that this down market will correct.
1. New agents, new agents, new agents.
2. Real estate "experts" have been humbled.
3. It now may take knowledge and experience to sell a hot new listing.
4. There is now time to actually read the contracts you are signing your name and reputation on.
I was a new, inexperienced agent at one time. But for the first 4 or 5 years, I did not expect to fully support myself, much less get rich, as a 20 something y.o. agent with no family in the business.
Are there any agents out there that do not look at the current market as the end of the world? I personally am delighted with it. Not that I wish anyone financial hardship.
There are many issues at play in the last 4 or so years that have affected my business in a negative way that this down market will correct.
1. New agents, new agents, new agents.
2. Real estate "experts" have been humbled.
3. It now may take knowledge and experience to sell a hot new listing.
4. There is now time to actually read the contracts you are signing your name and reputation on.
I was a new, inexperienced agent at one time. But for the first 4 or 5 years, I did not expect to fully support myself, much less get rich, as a 20 something y.o. agent with no family in the business.
It is time to get back to basics.
Thoughts?
-Mark
You mean by "get back to basics" as in actually rolling up our sleeves and getting to work.
You mean by "get back to basics" as in actually rolling up our sleeves and getting to work.
Yes, that and the fact that homes will not sell themselves. Nor will it be as easy as joining a big RE team and having leads thrown at you. Newer agents who survive the next two to three years will earn respect IMO.
I've been in the business for 8 years now and have treated every day and every sale like it was my last. I've givin' 150% and more everyday and find now I have to give it 200% plus to get the job done.
I don't see the current market as the end of the world and I don't think it's a blanket statement to weed out those who got in real estate for the wrong reasons for easy money, and yippie. (not saying you're saying that, but read that allot)
I'm busting butt to keep the brokerage open so I can continue to do what I love and work hard at. I did write an interoffice training book a few years ago called "Back to Basics" and believe in that everyday.
I've never takin' a sale for granted and just hope I can hang in there financially thru these tough times to stay in business.
Last edited by keeperk; 01-30-2008 at 10:37 PM..
Reason: fix a word
Are there any agents out there that do not look at the current market as the end of the world? I personally am delighted with it. Not that I wish anyone financial hardship.
There are many issues at play in the last 4 or so years that have affected my business in a negative way that this down market will correct.
1. New agents, new agents, new agents.
2. Real estate "experts" have been humbled.
3. It now may take knowledge and experience to sell a hot new listing.
4. There is now time to actually read the contracts you are signing your name and reputation on.
I was a new, inexperienced agent at one time. But for the first 4 or 5 years, I did not expect to fully support myself, much less get rich, as a 20 something y.o. agent with no family in the business.
It is time to get back to basics.
Thoughts?
-Mark
I think decreasing home prices are a plus for first time homebuyers, as houses are becoming more affordable again. That's a good thing.
And there may be a few incompetent, unprofessional, unskilled agents leave the real estate business. That would be a good thing, but I don't see it happening much. (I'm working with an agent right now who's been in the business a long time, but does fall into the above category. His ineptness is costing his clients and others, but he'll be around til he's too old to drive his car.) There will definitely be fewer agents entering the business, and many newer agents will say goodby; however not all of them fall into the "incompetent" category.
And even though a reversal in the hot real estate was inevitable, the slowdown is hurting many inocent people. Some people have had to move because of a sudden layoff or other circumstances beyond their control and can't get their homes sold or are looking at a short sale. And even though some unscrupulous mortgage brokers have left the business, there's been some really good mortgage people (reps, processors, etc) that have lost their jobs, too. Same for escrow officers.
A slowdown in new home construction is actually needed in order to slow the abundance of excess inventory. But it's not necessarily the builders of shoddy "put 'em up quick" homes that are going under - it's some very reputable spec and custom builders that are calling it quits. And that's just the tip of the iceberg - think of all the industries associated with the building industry that are hurting. I think we'll see more and more people (who used to associated with construction) hunting for jobs soon. This slowdown is defintely affecting the national economy in many, many ways.
So . . . am I happy with the slowdown? Generally, no. The older, smarter brokers/agents made their money when times were good. They knew the good times couldn't last forever, and they sold their brokerages, moved their investments, and got out of the business in early 2006. Will the slowdown give some agents an opportunity to shine? Absolutely. It's just hard for me to be excited when I see so many good people suffering.
I love it. This is a time where the real agents set themselves apart. It's looking like I'll have my best year ever and I'm loving it. Houses are still bought and sold every day. We just don't have buyers falling out of the sky anymore. It's a good thing for the market and our businesses.
Just listed a house 2 weeks ago and the husband was telling me that his wife was wanting to go with a friend of hers that's in the biz. He said she only worked part time and he wanted to go with me because he knew I was a full time agent. Long story short, pended it yesterday and they are on their way to look for a another house.
It's like my broker has always said, " this is when the part-timers stay at home and watch Opra.
I am so optomistic about the future of our market. We are weeding out lots of agents, have a high listing inventory, low interest rates, and spring is around the corner. They buyers are coming!
Location: Danbury CT covering all of Fairfield County
2,636 posts, read 7,430,245 times
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My office was the only major franchise to in my area to have more sales in 2007 than in 2006. My phone has been ringing off the hook for the last 2 weeks.
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Not really
) There will definitely be fewer agents entering the business, and many newer agents will say goodby; however not all of them fall into the "incompetent" category. 
Lots to look forward to!
