Is your Market Plan on Track and Ready for the Hills Ahead?
It is no secret that our current real estate market is unstable. Just because we are on unstable ground doesn't mean that we as Realtors need to interpret unstable as not profitable. If you have a solid marketing plan that is on track and ready for hills ahead, you can make it through unstable conditions and come out ready for the boom that is on the horizon. Many of us "seasoned" Realtors have seen markets like this before, does anyone remember the 80's and the land of the 18% mortgage? I have to admit that I do remember those days, the economic conditions that accompanied that particular real estate climate also brought with it, odd / even days to purchase gas, lines at the gas stations around the corner. Things were not good to say the least, but we all made it through and real estate plugged along and eventually flourished. Those Realtors that were prepared, those Realtors that had a market plan on track and ready for the hills ahead had more work than they knew what to do with when everything turned around.
It is important that we look at this current market through realistic eyes, for a real understanding of where this current market is. The boom era is behind us, what does that tell us, that tells us that while we are bouncing along the bottom now, a boom is in front of us. When is that boom gonna hit, I don't believe anyone knows for sure, but I can say that if history is any lesson, it will happen again. We as Realtors need to have a market plan that is on track and ready for the hills ahead to ride this thing out and be ready when the next boom hits. There is no blue print for Realtors around the country to follow, each market is very different, and currently real estate has become "hyper local". We are the experts in our local markets, and we all know where to cut and where to spend to get through. If we all have a market plan on track and ready for the hills ahead we will make a profit, and get through to the next boom.
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