It was the first day of August that I read Anna Banana’s post titled, “ActiveRain August Challenge - BEST- Business Practices.” It challenged ActiveRainers to think about and write about our experiences which have led to our professional success. I found it an opportunity to revisit my own business methods over the years, and re-evaluate what had worked well, and what had not.
I was first licensed in November 1981. Yep folks, I’m coming up on 36 years as a Realtor. What I remember most about1981, was studying hard to pass the licensing exam, and then once my license was granted, walking into my first office to begin work. It was only then I learned the current interest rate for mortgages was a staggering 18 ½% - Our historical high. You could have knocked me over with a feather. I felt like a balloon leaking air!
Fortunately, the office (Century 21) had several exceptionally experienced and delightfully friendly agents working there. They took me under their wing, and they all contributed to mentoring me.
In those days, the MLS was a book published once a week and left at the office door each Saturday morning. I relied on these books, and would carefully go through each listing looking for the one in 9 that had a good assumable loan, or could be conveyed “subject to.” A good assumable loan was one with a lower interest rate of 7% - 10%, and low equity.
My first client came within my first week. I had put on my brand new gold jacket, and walked into my local grocery store. While checking out, the cashier said, “Oh, I didn’t know you were in real estate.” I responded, “You didn’t?” She and her husband were hoping to move up. I listed their home, and sold them another. And, over the next several years they sent me other clients.
(1) What I learned early on was the power of branding. That gold jacket wih my name tag in the early days opened many doors. I learned when we are out in our community most do not know we are even in the business unless we identify ourselves in some way.
(2) I also learned that like the Clint Eastwood line from the movie, “Heart Break Ridge, there are varying markets that will require us to “Improvise – Adapt and Overcome.” Learning to navigate difficult markets early on, when we had those horrendous 18 ½% interest rates drove the lesson home. It is important to remain current with technology advancements and market conditions.
(3) To promote professional longevity as a real estate professional, it is important to have a personal code of ethics and standards. If you put your client’s interests first, and provide good service, they will provide you with future clients down the road. There is a genealogy to that. I have clients today, that can be traced back to the original clients I had 35 years ago.
(4) In the last several years I have toyed with the idea of retirement. I actually tried it once, and found it to be the worst two months of my life. Although, I am long past traditional retirement age, I continue to enjoy the occasional real estate transaction put forth from a longtime client or friend. Those who I am comfortable working with. My single struggle today, is my “young dog” enthusiasm for this wonderful profession we share, and thoughts of what full retirement would mean. It’s an inner war that needs to find balance, but in a way, I think I may have already found it.
I am eternally grateful to the agents in my first office, for their love, care and mentoring. Without them I would have never experienced success in the environment in which we existed in those early years. Most have passed on to the Open House in the sky now. I continue to think of them often, and love them all.
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