Special offer

Making Lemonade Out of Lemons- A Realtor's Lesson in Getting Back to the Basics

By
Real Estate Agent with Teles Properties

Normally I am a positive & upbeat person, but this week has not been one of my best weeks.  I could have easily attended my own little pity party of one.

For the last year, I have been working on a major home development in Palm Springs.  Three of 15 homes are almost done, I've been working on building a client base, and preparing all the marketing materials so we can launch the project.

My Broker has a meeting with the developer with his agenda on what needs to be accomplished on the development.   The developer tells my Broker that they are pulling their contract.  They will not be using our services anymore.  My Broker was blind-sided out of nowhere!!!  The developer is bringing in an "in-house" person to take over the project.

Needless to say, I was a little emotional when I was given "the good news".  A whole year of my life I felt was wasted because of all the effort our office put into this project.

 

Rather than accepting the invitation to "the pity party", I decided to make this a positive.  You're  probably saying "how can you be positive when you've been sucker-punched in the gut?"   The answer is I have a choice.  I have a choice to be upset, which won't get me anywhere, or be focused & positive.  I'm much nicer when I not acting like a crybaby.

I went back to my office the next day, and decided to go back to the basics.  During this economic downturn in the real estate market, we all have had to basically change our way of thinking and doing business.  So what are my basics?  Here they are:

  • Start Calling All Your Past Clients- Let them know you are still in the business, and ask for referrals.
  • Suit Up & Show Up- Going to the office with a purpose (getting a paycheck) does wonders for your  motivation.
  • Open Houses- Ask the agents in your office if you can hold one of their properties open.  You need to be in front of the buying public to pick up new clients.
  • Advertising- Whether it's print, or preferably online media, the public needs to find out why you're the best agent in your area.

So how did the end of my week fare?  One of my past clients called me yesterday, and now I am on my way to a viewing appointment for a possible new listing.  The moral of my story is your success or failure is predicated on your attitude.  Stay positive and have a great weekend. 

Photos coutesy of Flickr

 

 

 

 

Posted by

About the Author

Harold Watts of Scott Lyle Realtors has been a REALTOR in Palm Springs since 1999. Focusing on the 2nd & Vacation home market, Harold has been helping Buyers and Sellers achieve their real estate goals. If you want to know what is happening with the Palm Springs Real Estate market, give Harold Watts a call at 760-218-8209 or email him at Harold@HaroldWatts.net

Website:  www.PalmSpringsCityLimits.com

Ki Gray
Austin, TX
Austin Real Estate
Sorry to hear about the development.   But good to hear you are moving in the right direction after this.
Nov 09, 2007 08:58 AM
Sam White
College Station, TX
Integrated Marketing - Bryan College Station,
Hang in there. You can NEVER go wrong by concentrating on the basics.
Nov 09, 2007 09:00 AM
Faith LaRosse
Springer Realty Group - Limerick, PA
Serving Berks, Chester & Montgomery Counties
Great attitude!  You can choose to wallow in it or climb up out of it....good choice, Harold!
Nov 09, 2007 09:07 AM
Cody Fair - Realtor - Maple Valley, WA
Covington RE/MAX Realty South - Maple Valley, WA
It is always refreshing to hear or read of stories like this. It seems we live in a world where we all naturally fall onto the negative side of experiences and don't even see the choice. I always try to learn and apply each experience as you did and it has brought and is bringing me through tough times. Thanks for the reminder that there is always a choice!
Nov 09, 2007 09:18 AM
Debbie Malone
Londeree's Real Estate & Property Management - Lynchburg, VA
From Lynchburg To The Lake (434) 546-0369
Hey Harold, it stinks when stuff like this happens, but it's a good reminder for us that there are no guarantees. Good for you for taking the high road.....stay positive and best wishes. 
Nov 09, 2007 09:37 AM
Harold Watts
Teles Properties - Palm Springs, CA
Palm Springs Real Estate Blog

Ki- Thanks for your comments.  All I can do is move forward.  Negative thinking will only weigh you down.

Sam- Thank you for your words of encouragement.  I have to be in the mindset of my first day as a Realtor.  It's time to start "pounding the pavement" and get to work.

Faith- I almost went to the"Dark Side" to wallow, but what good would that do.  It has taken me a long time to get this point in my life of being positive. 

Cody- Look all around us:  The media, the Internet, Crabby people, it's all negative!!  If people would stop and realize that we all have choices, that everyone has the ability to be happy & positive.

Debbie- I learned a long time ago, never spend your money before you make it.  It is distressing when things like this happen, but there's a lesson to be learned in everything. 

Nov 09, 2007 12:17 PM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL
Wow Harold!  good for you!  I like to surround myself by positive people and it really makes a difference.  it's funny you mention the open houses because no one in my office wants to hold open houses for us....as if there was so much business.  Rick and I find ourselves having back to back opens and no one to help.....can you figure that one out?
Nov 09, 2007 01:01 PM
Ginger Wilcox
Sindeo - San Francisco, CA
Harold, this is such a bummer.  How disappointing but I love your positive attitude.  Pick yourself up and just press forward because bad feelings will only make matters worse.  Good things will happen if you do stick to the basics!
Nov 09, 2007 01:05 PM
Harold Watts
Teles Properties - Palm Springs, CA
Palm Springs Real Estate Blog

Ines,

In my nearly 8 years in the biz, I have only sold 1 home at an open house.  I do the Open Houses to pick up new clients.  Buyers out there looking for a home may not like the Open House, but I can sell them another home.  Same thing with the sellers:  They like how I present myself, and want to take a look at thei home.  It's all about making new connections.  Being positive is the only way to go.....I wish more people would embrace the feeling.

Nov 09, 2007 01:11 PM
Harold Watts
Teles Properties - Palm Springs, CA
Palm Springs Real Estate Blog

Ginger,

My broker has set up a referral agreement for me to get something out of all of this.  I will still sell the project, and probably make more money bringing in my own clients than being the on-site agent.  I have turned in my list of about 60 potential buyers to the developer for the referrals.

There is so much negativity in the world at this time, I just choose not to give into it. 

Nov 09, 2007 01:21 PM
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Oh Harold I feel you pain......but there is more good news....see, you have a built-in referral base. Not all bad news...

I love that you didn't stay on the pity pot very long .......and "Suit up and show up" is one of the hardest things for some agents right now...Good for you, it WILL pay off sooner or later :)

Nov 10, 2007 02:36 AM
Harold Watts
Teles Properties - Palm Springs, CA
Palm Springs Real Estate Blog

Kathy,

It was not all bad news.  I worked with these developers on their last project and sold their last 2 homes they couldn't sell, and they were a b**ch to work with.   If any of the people I have shown the project ends up buying a home, I will get a referral fee.  My pity party only lasted a day.

Nov 10, 2007 10:29 AM
Vicki Bishop GRI - Alabama Real Estate
Coldwell Banker United Realtors® - Bay Minette, AL
hey Harold that is the way to do it. some times we have to get backto basics.
Nov 10, 2007 11:40 AM
Harold Watts
Teles Properties - Palm Springs, CA
Palm Springs Real Estate Blog

Vicki,

Thanks for dropping by and commenting.

Nov 10, 2007 12:09 PM
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island
HAROLD:  Sometimes that "kick in the gut" floors us for a little while, but you have made a great point about being able to dust your self off and get back to basics.  You handled this setback with true professionalism.  Hopefully something good will happen to counter the bad.
Nov 13, 2007 09:01 PM
Harold Watts
Teles Properties - Palm Springs, CA
Palm Springs Real Estate Blog

Adam,

Roadblocks & setbacks are life's little lessons that I need to learn.  How to deal with adversity is a test to one's true character.  Do you face the problem head-on, or do you run & hide?  Besides, I've got to get busy earning a living.  No time to look back and be sorry for myself. 

Nov 14, 2007 03:52 AM