Recently a Michigan Association of Realtors publication posed that question within the text of a piece entitled, A world without...you.  My real estate year was hardly going to plan.  In fact, even for Michigan, it was badly awry.

Among the many disasters in the road to closings were the usual failures to qualify despite pre-approvals, loss of buyer income, loss of down payment assistance programs, no timely letter of acceptance on short sales, but also the more unusual and unbelievable.

One listing agent removed the CTS status on a property my buyers had bottom lined.  All contingencies but financing had already been removed.  The agent would not believe that the underwriter on the loan had suffered an aneurysm, was in a coma, and that the reassignment of the loan was going to delay closing by one week.  (I admit, that was pretty out there.)  Refusing to sign the extension, certain that the issue was really with the buyers and the coma was a ruse, the property was re-staged and held open that weekend.  My first-time buyers were terrified.  We closed as expected, one week late.  At closing, the agent did not greet me or the lender and the sellers were no-shows for an hour - the closing had not been confirmed with them.  They were apologetic, kind, and found they had a connection to the buyers.  The sellers saved the day but the listing realtor gave our profession a black eye.  (I do not know if the underwriter is still with us....)

Another deal, a drawn-out bank closing where I was representing the buyers, was delayed first for massive gas leaks both inside and outside the building.  The saga continued in waiting for frost laws for heavy equipment traveling over roadways to be lifted, delaying the bank's installation of the county-required new well - then the water quality test failed twice before passing on the last strike.  Eventually, just days before contingencies were to be removed, the ghost of the previous owner was revealed to the buyers by a neighbor - suicide in the garage - where they had planned to extend the living space for their master bedroom.  No one can make this stuff up.  The offer was withdrawn.

I won't detail what went on with the purchase that followed and closed for those buyers, only that I questioned whether the entire industry, sellers, lenders, appraisers, were all losing their grip on reality.  My tenuous hold frayed and I seriously considered quitting.

The stories of 2008 seller/buyer dramas could take up many more pages but those two stand out. 

So when I read the August 2008 MAR issue, I felt a real connection.  I questioned what failure looked like to me, and I was pretty sure it looked like my real estate career.  I began to seek other relevant employment but being Michigan, that was pretty hard to come by.

I stumbled upon what seemed to be a great job - part time, small salary with a title, commission on sales, creativity required.  I interviewed and was offered the job.  My meager closings were going to get some regular relief with the salaried paychecks.  I would continue in real estate full time and supplement with this new position.

About one week later, my husband lost his auto industry job.  Panic, then calm, immediately descended upon our household.  The worst had happened and it would be OK, for a while.  The next week brought the downsizing of my new position right out of existence, leaving me again with a commission only second job to back up my commission only first job.  Lightining had struck twice.  I decided to resign.

Here is what I learned.

First, relying on someone else to provide a paycheck is foolish.  My husband's nearly 20 years of loyalty to his company, where upper management regularly required attendance at seminars on integrity and other lofty goals, may have been misguided.  The company had never really internalized the messages itself.

Second, being a corporate employee after being self-employed is nearly impossible.  It is stifling, draining, spirit-killing, and not income productive.  The only way to make money in this economy, perhaps ever in this world, is to be in control of the results of your own efforts.

What does failure look like?  It looked like what I had been doing in real estate in early 2008.  Now, it looks like I just needed to focus a bit more.  By taking those 20+ hours that I had been spending at the new job and using them effectively on lead generation, lead conversion, prospecting, and followup,  I'd soon be on a path to success.  Even in Michigan.

That was a lot of learning in a three week time period, perhaps the best business lesson I have ever learned.  It all boils down to two things, freedom and control.  Freedom - to make my own schedule and decisions, freedom to succeed, and unfortunately, freedom to fail.  Control - of my own destiny and income - nobody is going to do it for me.  I get it now.  I know what I want to be when I grow up.  Lucky me, I am already there - I am a Realtor.