What I learned in Real Estate this week - 11/29/15

By
Real Estate Broker/Owner with Zion Realty
https://activerain.com/droplet/4LxW

All was quiet on the Western real estate front this week as Thanksgiving came and went with many calories ingested and naps taken throughout the Country. Homeowners everywhere took time out of their busy lives to slow down and enjoy friends and family around them by either inviting them in to their homes or traveling to someone elses residence to enjoy the holiday there. 

Inevitably, however, there is a negative impact that this week tends to have on the real estate market. Almost everything comes to a screeching halt. Title agencies, lending institutions, buyers, sellers, and everyone in between begin to work fewer hours, take more vacation time, and start to focus on holiday related activities. This tends to put a damper on a business that relies upon many cogs working together and marching towards a successful close of escrow. 

It's easy for any business professional that has ties to the real estate industry to begin our annual holiday induced panic as the market begins to slow and business does the same. Will our phone ever ring again? When will we get another email from a prospective client looking to sell or purchase a home? Why has my website traffic suddenly been cut in half? Even the most savvy real estate veteran can begin to question their overall business plan and outlook when the holidays are in full swing.  Some years are worse than others. You can enter in to the final push of the year with prospects galore only to have them all disappear or fade away leaving you with nothing to do but contemplate your next move. 

I received an email yesterday from an individual I met almost 10 months ago. They wanted to advise me that they will be completing their pre-approval process next week and will want to begin their home search right away. I remember this person well and I was ecstatic to hear that they are ready to start their home purchase journey not only because I look forward to working with them, but it was nice to finally see that my email address was indeed still working after not receiving any business related contacts in almost a week. 

So what did I learn in real estate this week? Year after year the threat of the holiday slow down is enough to rattle even a well-grounded, seasoned agent. I learned once again that the seeds we sow throughout the year will take root if we planted them properly. Your business doesn't have to experience extreme highs and lows if we consistently and strategically lay the groundwork from the beginning to the end of every year. 

Can we always avoid the lulls that can come and go throughout our careers? Certainly not. There are many factors at play when it comes to running a successful business. However, if we do all that we can and work hard during every season, we'll at least experience enough of a harvest during a drought that we'll live to see the next time of plenty. 

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Rainmaker
3,186,420
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nicole I have said it and will say it, if the phone rings we answer it .... if we get an email we respond.... there will be no lulls in Real Estate.... This weekend I had inquiries on four of my listings and I am still negotiating two properties and keeping one in escrow.... Thanksgiving or not.....Endre

Nov 29, 2015 10:15 AM #1
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nicole

This time of year is opportunity time . . . . and a great time of the to do business.

Good luck and success.

Lou Ludwig

Nov 29, 2015 12:57 PM #2
Rainmaker
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Nicole. Nice job sharing the post, I know one thing for sure. We control the amount of business that we do, that is the decision I made many years ago.

Nov 29, 2015 06:29 PM #3
Rainmaker
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James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Nicole.  It does make ones day.  What a nice surprise.  

Nov 29, 2015 06:47 PM #4
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Nicole. I certainly learned over the years not to panic over holiday lulls... in fact I often welcome them now. (Must be my age.)

Nov 29, 2015 09:22 PM #5
Rainmaker
4,041,520
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nicole, even after years in the business, it is hard to swallow when your phone does not ring as much.   The very reason you save all year for this time of year. 

Nov 29, 2015 10:01 PM #6
Rainmaker
679,919
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Endre - It's when the phone doesn't ring during the holidays that can send panic in to the hearts of a small business owner. 

Lou - I also use this time of year to get caught up on the fringe parts of business that get neglected throughout the busy season.

Joe - We mostly control it. There are other factors at play but I understand what you're saying. 

James - We never like it when the phone doesn't ring with new business no matter how long of a stretch it is.

Nina - I wouldn't say I welcome the holiday slow downs at this point but I've learned throughout the years not to completely panic. 

Joan - The first few years I was an agent almost every other agent used to tell me to store up a reserve because you'll need it during the holidays. Very wise advice. 

Nov 29, 2015 10:53 PM #7
Rainmaker
1,518,592
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Nicole, it has stayed busy here, the busiest I've ever been this time of year but, I know the slowdown will soon come in. I always build up the reserves over the Spring/Summer so that I don't panic this time of year. Took me some time to learn to do that. I hope you had a wonderful Thanksgiving.

Nov 29, 2015 11:27 PM #8
Rainmaker
1,870,779
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Nicole - good points.  We have to continue to sow and not slow down. 

Nov 30, 2015 10:18 AM #9
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I love surprise buyers this time of the year. It means that they are really serious and mean business.

Nov 30, 2015 11:03 AM #10
Rainmaker
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Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Nicole

I enjoyed reading this well written post. I wish we all could emulate Endre more for my business slowed down. cheers cvc

Dec 01, 2015 12:13 AM #11
Rainmaker
679,919
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

Amanda - We do our best to prepare for the slow down and hope that it's enough each year.

Grant - Sow and don't slow. I like that. 

Debbie - They are very serious. Those are the best type of buyers. You know they're not messing around. 

Curtis - I've been an agent for over 17 years and without fail, every year there is a Winter slow down no matter how hard I work the rest of the year to prepare for it. 

Dec 01, 2015 12:41 AM #12
Rainmaker
1,180,730
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Nicole

When the business Gods are telling you to take a break maybe it is worth listening to them. have a margarita for me, cheers cvc

Dec 01, 2015 01:19 AM #13
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Nicole ... I almost missed your post, some great stuff my friend and featured to the group:

FRIENDS AT ACTIVERAIN

Dec 05, 2015 07:25 AM #14
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Rainmaker
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Nicole Doty - Gilbert Real Estate Expert

Broker/Owner of Zion Realty ZionRealtyAZ.com
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