Over the years, as I was trying to make a business for myself as a Realtor, I had mentors who would advise and guide me when I was losing my way. I owe every one of them a debt of gratitude. Each of them would begin the relationship by asking me if I had a business plan. At first, I poopooed the idea. I didn't appreciate the value of such a document. Then over time, I discovered it was vital, not just as a document, but also as a process.
How can I know where I'm going if I have no idea where I've been and how will I know how to get there if I don't draw a map? Or, to put it another way, by understanding how I achieved the success I had in 2009, I'm better able to build on that success in 2010 and become an even better Realtor.
It's that time of year. What kind of year will I make for myself and my business in 2010?
Last year was a roller coaster ride for pretty much everyone in pretty much every business in this country. There was no market for the first 3 months. Sales were rare and customers were reluctant to commit. That changed almost overnight and what a change it was. The life of a Realtor requires us to roll with the punches and adjust our day to day activities at the drop of hat. For many new agents, this is not easy to do. It takes practice. It's what makes this career so vital and exciting.
We also had to deal with a new City of Toronto Land Transfer Tax (LTT) that many predicted would be the end of real estate as we knew it. What nonsense. Buyers adjusted, as I knew they would, by continuing to offer "what they could afford". No big deal. If they couldn't afford the added cost of the new LTT, then they would simply offer less on the property. They didn't miss a beat.
In 2010:
- the market conditions appear to be favourable for trading in real estate. Interest rates should remain steady. Owning a house or duplex still looks like a better deal than owning a stock or mutual fund. However, if there is a dramatic shift in either direction as there was in 2009, I'll be ready for it. No problem.
- the Harmonized Sales Tax will increase the cost of selling (and buying to a certain extent) a home and again, the customers will prove to be the resilient people they've always been. They won't like it of course but it looks like there's little we can do about it.
- there will be new developments technologically speaking in 2010 but nothing that will change society one way or the other. I still won't likely become a regular Twitter user. I'll find more fun ways to use Facebook and Linkedin. This blog will continue to bring out the "little boy" in me. Karen will continue to dazzle the real estate world with her natural abilities. I'll drive another 50,000 kilometers. I'll play thousands of banjo notes, some good, some not so good. I will not ever play a major 7th chord. I'll attend a lot of meetings, make a thousands of phone calls, do my bit to add to the bottom line at Rogers Communications, score the occasional goal and use my hockey stick to impede the progress of my fellow players (it's called hooking),
- but most importantly, I'll be entrusted with the role of helping families, young and old, buy and sell their most valuable asset their home. It's what I do. I like to think it's what I do very well and I can hardly wait to start another new year.
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