Doom and Gloom or Huge Success

By
Real Estate Agent with RE/MAX Preferred Inc. Realtors

 

..............................................................HELLLLLLLLLLLLLP!...................................................................

If you can't here the screams for help, perhaps it's because of all the complaining you've been doing. The Real Estate Market that we are experiencing is a natural part of Business.

  • It is NOT NATURAL for Real Estate prices to escalate yearly in double digits.
  • It is also NOT NATURAL for Seller's and Agent's to price properties at $25,000 TO $50,000 above market.

If this is the kind of market you have been experiencing or even worse if this is the only kind of market you know, I FEEL SORRY FOR YOU!

For you do not have a clue what the Real Estate Market is Like. So what is the Job of a Real Estate Agent then?

It is a Business that requires the Agent to have and use :

  • Education
  • Negotiation skills
  • Psychological skills
  • Social skills
  • Marketing skills
  • Tenacity
  • Perseverance
  • Dedication
  • And the list goes on and on

It is almost easier to define what Real Estate IS NOT!

Contrary to the last few years popular belief, it is not:

  • The easiest job in the world
  • Where the biggest decision you will make all day is where to have Coffee at
  • A job that you can do part time because everything sells, RIGHT?

***********

Update : It is not our Job to :

  • Tell Seller's what they must sell there home for
  • Tell Buyer's what they must pay for a home

It is our Job to bring Motivated Buyer's and Seller's together where market conditions will determine the value of the asset.

***********

If you are not the busiest you have ever been right now, it is because you do not know what it takes to be a Great Agent! For a Great Agent is Busy marketing, Prospecting, Showing and writing Contracts!

Contrary to popular belief, being busy is not all about showing properties to the 40 or so people who drove by your new listing. That kind of thinking was developed in the recent hay days of the market. It is also the kind of thinking and mind set that will have you out of business before you even know it. I would venture to guess that there are allot of you this very moment who are out of the business, YOU JUST DON"T KNOW IT.

Some years ago a Real Estate Agent friend of mine was working in a small community that had lost most of it's Jobs. People were terrified and I thought it must be a terrible market to be in.

                                                       NO JOBS = NO MONEY= NO SALES

Without a job and money how would any one buy a Home I wondered. My friend pointed out : That my Friend is Defeatist Thinking! This is a time for opportunity he said. This Market will not stay like this forever. Those Agent's that are sitting on their posterior proclaiming DOOM and GLOOM are my biggest asset he went on to say.

What are you talking about I wondered. His philosophy of Selling Real Estate was Simple. The first thing you need to do is to Identify how many transactions per year you want to do. If you live in an area that does that many then just make sure YOU DO THEM. Thats right if you want to do 100 transactions a year and the history of your area is only 50 in a year then you are in the wrong area.

The Rest of it is WORK. The basic skills of the Real Estate Agent. It is not about dressing up in the fanciest clothes or driving the Biggest Car. It is the fundamentals of Real Estate Sales.

Do you WANT TO BE NUMBER ONE ?   Do you WANT TO BE A SUCCESS ?

Then go to work. If you do not have the Skills then develop them. Or better yet just sit back and let the rest of us fly on by.

Are you looking to purchase some of the greatest real estate in the WORLD? Do you want to be notified of new properties coming on the Market in and instant. Stay ahead of the Competition. Get the Best Buys.

Investor's_Web_Site_for_Portland_Ore._Real_Estate  Investor's are not the only one who can benefit from technology. Let_Your_Next_Home_Find_You  search here for you downtown Portland Oregon Home. This Fabulous web site will search for your next home 24/7 and alert you within minutes! www.househuntportland.com

For more Portland Oregon and Downtown information please come to www.portlandrealproperty.com

All Presented to you by your RE/MAX Broker Buyer's Agency and Seller's Agency practiced here for .

" A Real Estate Expierience with Herb is One YOU Will Profit From "

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Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Todd : It is not interesting news to write about long term success. The turn around of the real estate market nation wide will only be rewarded with a short lived footnote or two.

side note : marketing resale homes in an area of new construction as you do is always hard. Price is often the only factor that will cause buyers to buy a resale over new. At least untill the subdivision is sold out and the first wave of resales happens. Perhaps rather than dropping the price by $60,000 you put a new car in the garage as an incentive?

Nov 04, 2007 01:50 AM #21
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Pamela : Thanks for reading have a successful day.

Nov 04, 2007 02:48 AM #22
Rainmaker
438,271
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate
You are Right ON with this post.  This market is nothing new to experienced agents.  The market has been just like it is now -  many many times before.  It's the way you deal with it, work with it and or react to it that determines how you well you will do.  Complaining does NOT help it.
Nov 04, 2007 02:50 AM #23
Rainer
28,230
Abe Do
Olympia, WA
Fantastic post!!! Thank you for putting it down so clearly.  My associate and I always comment on how our job is not selling property it is managing expectations and emotions. 
Nov 04, 2007 03:20 AM #24
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Herb,

Mike L. here - Prospect - you have my attention - I prospect in many ways - what do you find to be the most effective prospecting methods.

Mike Lewis

Nov 04, 2007 03:51 AM #25
Rainer
18,474
Phaedra Hubbard
My Florida Home Store - Clearwater, FL
Clearwater, Dunedin, Palm Harbor Real Estate Exper
I need to do more prospecting/farming. I currently get 99% of my leads from my website. I'm still getting daily leads, but I could handle 5X more. I'm thinking about doing the post card (just listed/just sold) to all of the neighborhoods around me.
Nov 04, 2007 05:08 AM #26
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Debbie : The Number of new agents exploded all across our country during the last several years of prosperity. Each and every cycle that we go through sees this same thing repeated over and over again. The subsequent flushing out of inexpierenced agents ( those who have never learned the skills required to survive ) is underway. In many ways a prolonged lull in the market will be good for us all. In fact the longer Buyer's hold back from purchasing, the stronger the surge will be from the pent up demand.

This is the best time to prepare. Get your systems in place and get ready.

Nov 04, 2007 10:52 AM #27
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland
Ryan : Thanks for reading and sharing.
Nov 04, 2007 10:54 AM #28
Rainmaker
291,279
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing
As I was reading this post I kept thinking that I sure hoped this was a featured post.  Awesome perspective and right on target advise!!
Nov 04, 2007 10:57 AM #29
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Mike L., Phaedra : Prospecting like many other aspects of Real Estate is in a constant state of evolution. My current prospecting methods are vastly different from each other.

For Buyer's I have a web site designed to be used by Buyer's. I Blog and run ads that are designed to send them there.

For Seller's. My business revolves around Fixers Flips and Rehabs. I blog for those prospects as well. And because I am interested in specific properties I tend to contact owners of homes that I have identified of being of interest to me.

Nov 04, 2007 11:01 AM #30
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Kate : Thank you for the comment. I like your style of writing as well.

Nov 04, 2007 11:07 AM #31
Rainmaker
223,010
John MacArthur
Century 21 Redwood - Washington, DC
Licensed Maryland/DC Realtor, Metro DC Homes

Herb - I was just wandering the halls here at active rain and found myself in a maze of different posts. One referenced another that referenced another and so on. Well, lo and behold, here I am. I agree with your entry. I appreciate your expanded explanation of what is occuring. I think one must also be a realist and understand that due to the recent heavy influx of agents, even those that are doing everything they can are potential targets of the downsizing. There are other variables. In market surges and declines in the past, it was not survival of the fittest. Some agents survived because of the extent of their bank account rather than the depth of their capabilities.

Learning the profession will likely improve one's chances of surviving.  It should also be noted that one can not assume that everyone left standing is a quality agent.

Nov 04, 2007 01:03 PM #32
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

John : Kind of a direct correlation to Political Candidate's Huh? Part of the responsibility for maintaining Political candidates that best reflect our needs and ideals as well as maintaining a strong force of Realtors who will be available when we need their services rests with the Consumers.

We all know agents who are still in the business years after we thought they would have been gone. But without the educated consumer doing their part via the interview process, there is little chance that those " less qualified individuals" that you allude to exist, will ever get weeded out.

Nov 04, 2007 01:36 PM #33
Rainmaker
121,400
Vickie Arcuri
ONE Sotheby's International Realty - Fort Lauderdale, FL
South Florida Luxury Real Estate
Hi Herb, this is such a great post with wonderful, well-stated points.  Thanks!
Nov 04, 2007 02:43 PM #34
Ambassador
1,652,405
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Herb - Excellent reminders.  Markets do adjust but if agents do the things they are suppose to be doing opportunities exist even in a down market.
Nov 04, 2007 03:46 PM #35
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Vicki : Thanks for reading and your comment.

Jennifer : The truth about Real Estate is that in any business atmosphere there are Buyer"s and there are Seller's. Our job is to help them accomplish their goals. By doing so, we will eventually get paid. How is the mother daughter team working out?

Nov 05, 2007 01:00 AM #36
Rainer
270,351
Teresa Boardman
Boardman Realty - Saint Paul, MN
Good point there are always opportunities some where for those who are willing to look for them.
Nov 05, 2007 09:49 AM #37
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Herb,

The web has worked very well in many areas for me - the leads come in regularly and I would say we get about 3-4 listings a month and 3-4 buyers a month form the web sites. Past clients and referrals come in as our clients need our services or recommend them to others. I also walk my farm area and have an excellent community presence. I'm spending a lot of time building out my web presence for the next market up turn. My wife and I are also refining our systems and putting a lot of automation in place. I think that I have set up most of my prospecting with the web to work 24/7 and bring the leads to me. This has worked well in the past and still does. If I step it up or want to have the agents on our team spend their time prospecting your recommendations would be appreciated.

Mike Lewis

Nov 05, 2007 10:11 AM #38
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland
Teresa : Nice to hear from the St Paul Bag of Chips. Say I have really been busy lately, how has The Real Estate Weenie been doing?
Nov 05, 2007 12:06 PM #39
Rainmaker
189,386
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland
Mike L : Very nice Mike. It appears as if you have got it going on. One thing about prospecting. Every one can and should do something. Even if it is as simple as upgrading a client list that you could then be prospecting to.
Nov 05, 2007 12:08 PM #40
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Herb Hamilton

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