I Cannot Tell a Lie... it's tougher today...

I have had agents rant at me, yell at me and hang up on me because deals were not going well.

  At first I was taking it personal.  My "coach" reminded my that agents are panicking!  Unfortunately this panic has been taken out on me although it is obvious the problems with the deals are not my fault, (such as buyers are backing out because they are scared of the falling market).  Those words have helped me put things into perspective even though there are no excuses for the the personal attacks I have experienced.

Hi Jennifer. 

However, I will admit and acknowledge that, indeed, it IS harder today. Many trainers will give you a pep talk and convince you that if you aren't seeing the success of yesteryear, then you just aren't trying hard enough.

Thanks for saying that.  My last boss would crucify me for not working hard enough, telling me this is a normal market.

How come everyone who is no longer producing acts like they would be mopping up if they were selling today.  It's silly. 

I feel deceit is a part of real estate sales and I feel that is sad.

Ken

I enterred the market when it was tough so I am looking forward to seeing what it is like when things pick up again.  I think it is a challenging market and demands hard work to survive if you are in it for the long haul.  Thank you for the encouraging words!

It is harder today, but it also makes us tougher and wiser. 

I have seen things starting to perk up in NJ, and I think we will see the people fall out of the business that were just order takers, or thought this job could be done part time. This is all good news for the professionals that are in 'it' for the long haul. The Pie will grow as the sales force drops. The real estate business has always had its ups and downs, isnt that half the fun???? :)

Good skills and market knowledge will take you through good times and bad.  The past few years have been an aberration for many markets;  while admittedly many markets may be "tougher" now than they have been, it's not necessarily because the markets are in dire straits, it's because the agents have never had to be at the top of the game in order to succeed.  It was low hanging fruit. 

Many agents today have never been in a normal market, so they are now crying the blues because things are so bad.  It's not that things are so bad, in many cases, it's that suddenly a whole lot of people who made good money in a profession that required nothing of them whatsoever in terms of skills or knowledge, are now being required to do something they have never been qualified to do.

For the good of the consumer, this shake out needed to happen and hopefully we will see better agents as a result of it. 

Jennifer... great stuff.  So many folks need to hear a good dose of reality and encouragement together! 

It is interesting to see how many people consider and call the boom times "normal" when "normal" is really the cycles of up and down markets.  

I think what you share about your past is a great reminder for the seasoned and a great lesson for the new folks.  Keep it up!!

I am glad to know that someone who had done this 10 years ago, and now "re-starting" again would say that it is indeed harder because all along, I had thought it was just "me" that isn't doing all that great. I think that the cost of doing business has increased has something to do with it too.

Thanks for the dose of honesty. I still support and love the SOI model.

Still good friends, are we?

Jennifer, I'm glad that you have such a positive attitude about selling real estate, even in the current turmoil.  Doom & gloom is not going to sell any homes, and although we must be realistic, as you are - things are tougher - but not impossible!

Be gentle... ;-) 

The tougher get tougher as the going gets tougher. Keep the faith. We will survive! Sounds like a song!

Hi Jennifer -

I just linked to one of your posts....in my latest blog - check it out if you like.

Another thing that people need to recognize.  ALL MARKETS ARE LOCAL - that includes OPPORTUNITIES too.  Although hypercompetative everywhere, some markets have less wiggle room for a newbie to squeeze in - market notwithstanding.  I'm hanging in, but truth be told we need 50% of the agents to disappear to make our area at all profitable. So far NO ONE has quit. I have a theory that most are doing this for "pin money" on the side, but because of their sheer volume they are eating away at the full-time agents prospects in a crushing way. I've extended my geography extensively to gain more market share. One of the problems was that the city I've lived my whole life in (population ~60,000 - ~30,000 residences) has been the target of almost every agent in the entire county!  You are talking about 4000 agents with their sites set on one city!  NUTS!  With turnover very, very slow and sales down 30% - it was bad before the slump - its a mess now.  I've had  a few deals - most people just in a few years have had nothing all year.  A few people have made it in this market, but many of them aren't very honest.  They buy listings and beat up sellers to reduce the price.  Its pretty nasty out there.

But people need to realize that this VARIES throughout the country.  Each area is NOT the same.  Trainers in particular shouldn't  treat it as such. Some areas have tons of listings and no buyers. We have almost no listings and a lot of not-so-serious buyers who are very fickle.  They are trying to strike deals with listing agents for a reduced commission and money at closing - so they'll "use" a buyer's agent and dump you as soon as they find what they are looking for - nasty things like that.   Which is why i insist on a contract after two sets of showings.

Great post and I am trying to stay positive and work harder - there will be better things to come!

Ruthmarie makes a good point, what is National news may not apply to you Locally...I hear people ask me all the time about our declining market.  I still contend we do not have the declining market that other areas of the country are experiencing.  The same rules apply today that did several years ago here in our area, price it right and have it looking pristine and staged.  Those houses still sell here. 

As far as my business...I will say that I am 10% behind where I finished last year and it was my best year ever in real estate.  I have three months to find that 10% and I will probably work hard to do that.  I will make more of an effort to seek out buyers and sellers and connect with my sphere.  I am an extremely competitive individual...mostly with myself though.

Thost agents that make it through (new and old) will be that much better off when things turn around.  I think this is an excellent opportunity for an agent to build their brand name and capture market share !

Thost agents that make it through (new and old) will be that much better off when things turn around.  I think this is an excellent opportunity for an agent to build their brand name and capture market share !

Jennifer,

     You as well as I know that the type of market we are in now will make us that much better when a good market roles back around.  If we put this much work into a good market for a few years it will be much easier to retire early.  I can not hardly wait for those times!

Jennifer - I agree too, that it is harder now.  Personally, this has been my hardest year in the eight years I've been in the mortgage biz.  That's ok though because I'm still working, I still have job, I still have clients, I still have escrows and life goes on.  Yes, my numbers are not what they were in previous years and my escrows are getting harder and harder to close but, hey, I still have numbers to work with and I'm still closing loans and helping people.

I also agree that those of us who stay in the biz will be better and stronger for it.  I don't know what it's like in other markets but around here, Ventura County (SoCA), a lot of Realtors and mortgage professionals are leaving the biz.  I like to think of it as a readjustment of the biz because, frankly, there were too many order takers that were clogging up the biz.  JMHO