Our Business Models Need to be Nimble and Flexible

By
Real Estate Agent with Keller Williams Realty Louisville East (502) 664-7827

Our business models need to be nimble and flexible, but without diversifying prematurely. Over-diversification dilutes our resources and our management time.

We are in a market that defies traditional knowledge past real estate markets.

Now more than ever we need to recognize that what worked yesterday may not work tomorrow. Everytime the government and the lenders roll out new guidelines the housing market can change, literally overnight.

  • The $8,000 tax credit changed the market, then its expiration changed the market again.
  • Announcement of loan modification programs changed the market then it's failure changed the market again.
  • Credit score requirements go up, the market goes down instantly because many thousands of buyers suddenly don't qualify.
  • These are just a few examples of many.

As Realtors, we need to hope for the best but plan for the worst.

Our highest responsibility is to our clients. We need to have the knowledge to help them in a changing market.

The housing market and the job market seem to be in gridlock. One can't recover without the other and it may take years. In the meantime we need to stay ahead of the curve and continue to sharpen our tools and acquire new ones. We need to be ready for change with short notice.

Posted by

 

 

Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

Website David.DavidHalpernRealtor.com

(502) 664-7827

 

 

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Topic:
Real Estate Market Trends
Location:
Kentucky Jefferson County
Groups:
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Club Chaos
Diary of a Realtor
Voice of Reason
Bananatude
Tags:
credit score
housing market
clients
programs
tax credit
loan modification

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Rainmaker
4,432,971
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good advice. We need to be flexible and have the knowledge to help our clients.

Jan 07, 2011 11:33 PM #1
Rainmaker
1,179,097
Barbara Michaluk
Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434 - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

The Washington Post has an article in it today about loan requirements changing again this year making it alittle more costly to get a loan even with the highest scores.

Jan 07, 2011 11:35 PM #2
Rainer
12,776
Warren SEO
SEO Consultants - Knoxville, TN

Dave - Great articule and advice regarding the importance of business models. A lot of agents sometimes forget that they actually are in a business.

Warren-SEO 

Jan 07, 2011 11:39 PM #3
Rainmaker
1,554,516
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

David,

 

All of the US stories about the market have not been good. The ability to react quickly to change is an obvious asset.

 

Brian

Jan 10, 2011 12:31 AM #4
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