“We are busier than ever, because every deal is hard!”

Now THAT is an understatement!  Every deal is so much harder than it should be, mostly because of the new lending criteria and appraisal guidelines - buyers and sellers are still very much the same, at least in my market.

Work harder and Thank God every day for what we have.

George Cruz Sr

Port St Lucie Fl

Hi Richard -- I think your view definitely reflects my reality.  Exhausting at times, yet also very rewarding.  To see the smile and sense of satisfaction on a client's face...speaks volumes.

Even the simple loans are now hard.  I'm sure everyone is having trouble these days.  The banks are now going totally in reverse and making it so difficult.

Amen to that!  I always say "It takes a great agent to put a deal together, but it takes a better agent to keep it together".  We are feeling it here as well.  Working twice as hard.  Whew!  

The deals really are much harder these days.  They require persistence, patience and knowledge.

I've always heard that for every hard, hair pulling deal you survive that you get 10 easy ones!  HA!!  If thats true then the next 700 years should be a piece of cake from here on out.  Most deals are hard!  But usually fun when you finish!

Good post!

It's not a done deal until it's a done deal with the money in hand :)

Thanks,

Mario

Richard,

I prepared a business model at the beginning of this year and calculated I needed to work 295% of what I did as recently as 2008.  Little did I know I was being optimistic. 

This analysis took into consideration

• the longer buying cycle for short sales, 
• the longer approval cycle for appraisals and loan closings, 
• the reduced commissions paid on short sales and REOs, 
• the higher carrying costs for listings due to the need to make them look perfect, 
• the need for buyers I represent to find a home with minimal after-purchase out of pocket repairs, 
• a reduction of good quality inventory in markets where owners don't need to sell, 
• and the myriad amount of pro bono consultation required for underwater owners who can't decide if they should stay, short sell and deal with deficiency judgment, let it go to foreclosure or strategic default.

I've been fortunate that I could give good service and get referrals from all my clients, even those who did not complete a transaction (who are running triple a typical year).

Kirk Knight  REALTOR  Gallagher & Lindsey inc. REALTORS,  Alameda, CA

True in my area too.  Everybody is stressed from Buyers, Sellers, Mortgage Consultants, Title Agents and Realtors.

Richard:

I remember when things were easy. Really, I do. But we are building such character now, aren't we?

Ahmen to that brother.

Isn't that the truth. I'm learning that normal is just a setting on your dryer

Richard:

Amen and Amen! It seems like everyone is on edge and stressed. We try very hard to bring that stress level down and make smooth transactions, but sometimes its an uphill battle.

Nevin (#62) made a good point - with regard to real professionals in the business.  It is becoming ever more needful to be sure your loan officer is licensed and if you can find a mortgage company that has all their Underwriters qualified and in house, things will be a bit smoother.

Thank you so much for writing this!

Silver lining - my clients seem to be more appreciative now than ever before.    I'm finding the value is in our interactions more than in my bank account for the time being.    The other day a client said they wanted to thank me and opened their arms wide for a big hug.    At the end of the day, I feel really good inside about what I do for a living.     How many salaried employees can say that?

I like your response to the questions. Good answer, because it's absolutely true.

Many extra things to do now.

You remember the old saying..."Hi I'm from the government and I'm here to help you". Yeah, right!

true here north of 49 too

So glad I am not the only one....nearly every deal has been a struggle from buyers with cold feet, to appraisers that are not familiar with the area, to underwriters that want to peek under rocks the buyer cannot even find.

Some days it is all I can do to keep those plates spinning.

However, can't imagine doing anything else that would be as fun, challenging, or rewarding.

It seems like every single transaction has been difficult lately, especially, short sales!  When you finally get to the closing table and have happy clients, it's all worth it.