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Are gas prices affecting how you do business?

It's seems like everyday or every weekend I look at the pump and prices continue to rise. Will there ever be an end in sight?

Looking at what gas prices are. It has made me cut down on a lot of driving. For instance, If I volunteer to do an Open House It's only in the area I live in or near. I begin walking the neigborhood more. I don't show anyone a home who simply wants to look inside. I simply come to the office to prospect and set appts. and that's it. It has affected my marketing some by cutting into my budget for that but to stay in the business. We have to find ways to cut back without hurting our business. Some of our jobs are to look at the new listings or preview homes in the area. So how do we maintain? Well hence the reason I write this post.

At this time last year. We were cutting back because of the market shifting. Now we are cutting back because of rising cost of gas and food. Some of us spend a lot of time in our cars with clients. Though I like to know from the community what are some ways or ideas of cutting cost and maintaining business. High gas2

Posted by Jimmy Graham on 05/10/2008 09:49 AM

Comments (8)

high gas prices, business, cutting back

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8 Comments on Are gas prices affecting how you do business?

I Know what you mean. There was a time We would show property to anyone at anytime, but no more. If they are not ready to buy, no riding around looking. We still go to the office everyday and when the lease on my vehicle runs out, fuel efficiency will be my #1 concern

05/10/2008 10:10 AM

by Jane and Jesse Neely (Century 21 Thomas)

Well, they havent stopped me from doing it. But, I plan my trips better and do as little 'extra' driving as possible.

05/10/2008 10:12 AM

by Clint Miller - www.recr.com (Real Estate Client Referrals LLC)

Gas will continue to rise in cost. There are only so many things that be cut back on. I think all of us are trying to make sure our buyers are serious vs kicking the tires.

05/10/2008 10:20 AM

by Karen Gentry>>Charlottesville, Virginia Real Estate Professional (RE/MAX Excellence-Charlottesville VA)

Jimmy -

Everyboday's feeling the crunch. Showing your buyers virtual tours of properties and giving them as much information of the areas as possible could help narrow down their search, and would also help you to screen your buyers. This strategy could save you and your clients time and money, I'm not saying this because I'm a virtual tour provider. :-) I believe it helps.

05/10/2008 01:05 PM

by Beulah Parker (Indunet Solutions Tours)

Jimmy - It's always good to think of ways to reduce expenses - but it gets more difficult, doesn't it with food and gas prices? I work with serious, qualified buyers who have a chance to narrow down their choices before we go out and look. I try to plan all my trips around town and I'm going to ride my bike more frequently for errands, etc.

05/10/2008 06:28 PM

by Lynn Johnson, Owatonna, MN Real Estate (Coldwell Banker Home Connection)

I make sure they are serious about buying and that they can buy. I also ask buyers more often to drive around and check out neighborhoods if they aren't sure where they want to be.

Dave

05/10/2008 06:38 PM

by Dave Ruwe Realtor GRI www.daveruwehomes.com (Keller Williams Realty)

Hi Jimmy, Maybe I should be changing the way I conduct my business, but I haven't done so yet. My sales so far this year have been way better than last year, so at least for now it is business as usual for me.

05/11/2008 10:39 PM

by Cheryl Powell, ABR, Broker, Realtor - Remax Gold - Concord NC Real Estate (RE/MAX Gold - The Powell Team)

Hi Jimmy,

Please keep in mind that technology, particularly the internet, is doing a good job helping us with the high gas prices. It is normal or at least possible now, for most buyers to pull up listings and do a lot of weeding out themselves, before they may wind up in your car.

05/14/2008 10:01 AM

by Richard Schardt - Triad NC Real Estate (Keller Williams Realty)

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