Where Do You Focus When The Market Is Down?

Real Estate Agent with The Charlotte Group
Like most industries, when the tide begins to shift, everyone takes a hit initially. But those who are quick to respond effectively will not only survive, but thrive, as the less mobile, less innovative, less flexible sit back and hope things will change.

It's not any different for the real estate industry. As the market downturn looks like an overwhelming obstacle for most agents, do your best see it as an opportunity. I know, sounds easy, much harder to do. You're right, it is.

But think of it like this, while every other agent is considering whether or not to stay in the business when business isn't falling into their laps anymore, the great agents are mapping out their adjusted courses. If the market is down, it's a great time for investors to be on the move. If the market is down, help clients with short sales to prevent foreclosures and save their credit. If the market is down, get creative with marketing while you've got a few minutes to innovate.

Take a page out of the Lowe's book. They're a monster home improvement establishment, and they're trying to do the same thing, check it out.

Do what it takes to pick up market share, and when things pick up again we'll be primed for the next big run. Work hard, get creative, think big, hang on.

Comments (3)

Nancy Moeller
Seven Gables Real Estate - Anaheim Hills, CA
Absolutely, right on.  This is our opportunity to rise to the top while others are leaving the industry. Great post.
Sep 27, 2007 02:43 AM
Mario Rea
Talmer Bank - Macomb, MI
VA Loans.FHA Loans. New Construction.Conventiona
You are 100% on, brother.  That is what business is all about, being able to adapt to serve a need.  The real estate situation offers many opportunities--not the same as yesterday, but still opportunities.  One major bonus of this environment is the weeding-out process.  In any situation, the cream rises to the top.
Sep 27, 2007 03:07 AM
Jon "J.R." Finger
Fairway Independent Mortgage Corporation - Charlotte, NC
We are having a fantastic time right now. Business is up, competition is down and we are gaining market share. I love it when the market weeds out the idiots. We are marketing like crazy and are taking advantage of every void our competition has left in the market.
Sep 29, 2007 12:54 PM