good words - even better is how to improve.  This is true for any of the industries tied to real estate.  Thanks for posting this!

Randy,

Thanks for the pointers.....we sometimes loose sight of what it takes to correct us...even if it is just a minor adjustment.

Randy-great advice!  This market requires everyone to make adjustments.  Some will succeed and others might not.  None of us can be too quick to point the finger we need to spend our time on our business and not someone elses!

Randy, you make some very valid points. Most of the people complaining about  down market are just sitting around the office complaining. I'm a big believer in face to face..you HAVE to get out of the house and office. Great advice!

Matthew - Thank you

Dan - I have a very simple philosophy.  If it ain't working don't keep doing it.  Now if we could teach that to government.

Cindy - There is no substitute for spending time.

Linda - Many of those complaining are even too lazy to go to the office.  Many are home complaining.

"Most were not willing to follow the advice."  That sentence right there Randy is key.  Those that will listen and put a plan in action are the ones that will make it.  Its one thing to struggle, but to sit around and complain, I can only listen to someone complain for so long without seeing them willing to make the effort.  

I've always found it interesting that you can share your successful business practices with another agent, take the chance that they will take your idea and run, but 9 times out of 10 they never do. Many of these complainers want that easy fix, and there is not such thing.  It is called hard work.

Right on the money, Randy.  One definition of insanity is doing the same thing over and over but expecting different results.  It might work in quantum physics, but it does not work in real estate.

I think the most important advice you give is to Have A Plan.  Second to that would be to Execute the Plan.

Good advice and a good post.

Hi Randy,

Great points!  3-5 years ago anyone could get a real estate license and with a little work, make a good income.  In today's market, you have to go back to the basics and work harder and smarter. 

Every buyer/prospect is not the same. So every agent/broker is not expected to be the same. What works for some may not work for others. You make some very good points.

Sometimes its not the strength of the wind that takes us to our destination, rather the adjustment of the sails.

Good advise Randy! Any suggestions on the changes you would make or advise others to make?

Randy - Love the title because I think they define that as stupidity......I had to elevate above that myself early in my career.  The best advice I believe you laid out is really simple, Increase the number of hours a day you spend on your business.  Be prepared to work many more hours.

This isn't a 9-5 gig....never will be.

Randy...

LOL at your title...

Doing the same thing and expecting different results is the definition of insanity :)

P.S. RE is not for faint of heart :) 

TLW...ROAR!  

Most people do not have the mind set of being an entrepreneur. That is really what Realtors are: working for themselves, but not by themselves. I think everyone would agree that you work harder and longer, but because you enjoy what you do, it doesn't feel like work.

So if someone doesn't understand the 'fun' that Randy was speaking of, then they are probably in the wrong business. Whatever that may be.

Great Advice....  I agree with some of the comments that REALTORS don't act as if they are their own business.  You have to think of yourself that way, you are an entrepreneur.

I've heard on many of the self improvement/motivational audio programs that the definition of "insanity" is trying to do the same thing over and over again and expecting different results.

Here is my advice to struggling agents.

• If what you are doing is not working, do something else.
• Increase the number of hours a day you spend on your business.  Be prepared to work many more hours.
• Get all the training you can get.  Get your designations.
• Team up with a productive agent.
• Market, market, market.
• Be creative
• Have fun
• Be sure you are in the right office for you.
• This should be first.  Have a business plan!

 
As a newer agent, I have to comment that some of these are just not that easy.  Yes, I work all the time, and yes, I just got one designation and am 2/3 of the way to another, but it's not so easy to team up with productive agents--especially if you are not in the right office.  And getting in the right office is really difficult (due to the housing boom) because the other offices are full. 

So I just keep plugging along, according to my business plan. 

You have to evolve with you business. Great post.

You hit the nail on the head with every point that you made.  It IS a lot of hard work -- you DO have to love what you are doing!  If you don't have a PLAN you don't know where your are going.  Excellent advice.

Isn't this the same as the definition of insanity? We do have to adapt and work harder!

Isn't this the same as the definition of insanity? We do have to adapt and work harder!

Steve S - Most people who fail are just not willing to make the commitment.  That is OK, they just need to realize where the problem is.

Chelle - I have no secrets.  I am not the most successful by far.  I do know what I have to do if I want more success.  I have made a decision about how much time and effort I am also willing to spend.

Tim - Thank you

Dan - No forgiveness in this market.

Mott - Well said

Doug - It depends what they are already doing or not doing.  The most common thing I see is they are doing nothing.  It is easy to give advice there. (Do something)

We are of like minds. I talk to people all the time you want improvements in their life but are not willing to do anything different. If you have been doing it the same way for years, and not getting results, it time to do something different.

Thanks Randy for a great post!  I am determined to change the way I do things in 2008 and will not stop until i succeed.  It's already starting to pay off with 3 new listings this past week and 1 more to be listed this week.  Thanks again for a great post and great advice.

Love this - maybe we are in the same program where the definition of insanity is doing the same thing over and over again and expecting different results?

Great post Randy! Last year I was a part-timer and now I am looking forward to doing this an a full-time basis. I am aligned w/ one of the largest investment firms in the country, so there are unlimited possiblities. I am going to take advantage of this relationship to the fullest extent.

I have a goal tracker that I look at daily. It is making a world of difference with my progress.

Randy, it's amazing what can happen when you make a plan and stick to it.  I think that this will be the make or break year for many MORE agents.  If you don't have a plan, what the heck are you doing running your own business?

Good points!  We have to step out of our comfort zone sometimes to find success. 

Aloha, Randy. I would add also to ALL agents, be a continuous learner and continue to get education from every avenue you can along the way. Doing the same thing over and over that's not working is definitely the mark of insanity.

So many things to do and so little time to do it in!  What is a reasonable start-up budget for marketing?  Everyone wants my money!

There are great agents out there who run their real estate like a business, and these are the agents that will succeed and survive year after year.  It takes all of the qualities you have listed in your points above, as well as a willingness to network , and above all else, to serve your clients with true real estate market knowlege.  Keeping a postiive and sincere attitude should be woven into everyday practices for surefire results.

Good points to ponder in 2008. Yes there is not much money to go around. How do you know which are the BEST to invest in? You go thru a couple programs and there you are broke again.

As an experienced agent...normally I concentrate on just listings but I have stepped up dealing more with buyers and renters and landlords at the moment. My Internet lead base is starting to keep me busy and I hope to be putting a few small deals together through my leads. I have also sold a few of my listings and lost one due to absolutely nothing in 6 months but hey...you lose one you gain two,

Jason - I agree if someone is looking for 9 to 5 they are in the wrong line of work.

TLW - Definitely not for the faint of heart.

Tara - If they are not having fun, they will never last.  You just get burned out.

Debbie - Absolutely.

Karl - I thought that was the definition of Government.  LOL

Eliese - Business is never easy. That is why many can not make it here.  If you have a goods plan and execute it, you can work through the tough parts.

Frank - For sure.

Joan - Thank you.

Gary - I was once told we all have to be a little crazy to do what we do.

Wayne - I just spoke to an agent today who is in that category.

Pamela - Congratulations on the new listings.

Emily - Now if we could teach that concept to our politicians.

We all need to understand that to succeed in this business we need to look to the future. I guess we have a lot of crazies around!

Aja - Good luck, sounds like you have a plan.

Lisa - You are right on the money.  If you do not have a plan you should not be in business.

Katie - The amazing thing is that most who try to stay in their comfort zone are not comfortable.

Great advice and so true.  Our market is starting to pick up.  We had a good 2007 and are having a great start to 2008.  However, every day agents come into my office and just keep saying how bad the market is.  They're the same ones who won't take the time to make phone calls or spend any money marketing.  This is a great time to take extra training courses, go to seminars, listen to CDs while driving, and read books.  Knowledge is power.  It's always the top producers who you see at everything.

Gary - I am of the same mind on the education.  I have 5 designations and certifications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             and am going to get one or two more this year.

Marsha - That is a decision that has to be made according to your plan on how you are going to market.  For example I do some things that are effective and cost very little and then I have some advertising.

Rebecca - I like you last point.  I do not know many negative people who are very successful.

Robert - Some of it is trial and error.  I have a pretty simple system.  If every agent in town is advertising in a certain publication, I do not go there.  I like to be noticed.

Neal - I have made a goal of improving and increasing my internet presence this year.  I now have to better budget my time to make it happen or hire someone to help.

Team DiMuria - There are a few who are less than stable.

Joyce - You hit that one.  I take a class and the room is mostly filled with top producers.

You said it all!!  Have a plan, do it, have fun, and get educated!  I agree

Kim - Thank you

Randy,

 Great points! I would have to add that for me and my business, it has been learning to make better use of my time, remembering I am in sales and prospecting/generating leads is the name of the game!! Working more is definately key as well. The other thing I would suggest is to learn your numbers for both your market as well as what it takes/costs to get a lead and how many leads one needs to close a deal

Josh - Real good points.

I'm a new REALTOR having some difficulty getting started -- ActiveRain always gives me a jump start to my day and a nice way to end my day, always so much good advice.  Perhaps everything that I learn on ActiveRain will help to bring a client my way.  Thanks, Randy.

Randy- A good list......can't make people see the need to change, but sooner or later it might become self evident.....:)

Sallie - It takes time to get traction.  The first few months are tough.  You just have to work like crazy to get it going.  Also watch what the successful agents are doing and use some of their strategies.

Kathy - Some will never get it.  they will just move on.

Excellent post Randy - here is my thought about your comment, "When deciding whether you are cut out for real estate, you need to consider whether you are willing to do what it takes to succeed in this industry."

At the beginning, you have to make that decision based on this unknown factor - you have to go with your gut - because if you THINK you can make it, you will generally provide the PROOF that you can make it. If you think you CAN'T make it, you will definitely prove it to be true.

Dawn - True only to a point.  As in any business you need to do your research and have a business plan before you start.  If there is no plan and no goals you will most likely not succeed.  Success does not happen by accident.  It takes planning and hard work.

Randy, this one is right on the mark! 

Good points and a good reminder for agents.

Good advice. Have to work hard to make it in this market.

David - Thank you

Kevin and Monika - Thank you

Bob & Carolin - I wonder what some agents would do if the market got tighter.

Randy, you're on a roll, Great post, and so true. The market is what the market is, we have to go do it and make it happen, the old ways and methods are gone. If you hadn't built a good referral network to keep you going, you have to change the way you are reaching new customers. 

Way to Go Randy!!

No matter how "bad" the media sais the market is, people still need a place to live and the beat goes on and on.....If you are not out there working making contacts, nothing will come your way.

Great post. It is definitely not easy!

Missy - Very true.

Shari - That is the part that many forget.  People need a place to live and there are many who have to move.  Not counting death and divorce.  Even in a slow market things are still moving.

Christy - Nothing worth while is easy.

Doing the Same Thing and Expecting Different Results - is the very definition of Insanity, according to How to Mind Read Your Customers-David Snyder.  Although I forget this sometimes, it is on point and a strong statement.

Randy, this is a great post, and I must say, if you're having fun, everything else seems to fall into place.  I have a real passion for this business, which makes it fun for me, which makes me do whatever I have to do to succeed.  That includes all the other things you mentioned, none of which seem like work, because I'm having too much fun! 

Heather - Reading clients is usually not that hard.  If they are extremely happy you will know.  If they are not, than we need to look at why not.

Ryan - It make s huge difference if you are having fun.

Great reality post Randy!  Well said!  Your definition of insanity works!  I tell agents all the time at my seminars you have hte same website, the same marketing scripts, the same listing presentations of everyone else in your office...that is also struggling, what makes you think that you will do better than them?

Jim - Good point.  I have found being different is so important.