As children, we learned about the ant and the grasshopper, one storing and one having fun. There were also many stories about squirrels scurrying around in the fall of the year to get food for the winter scarcity. We’ve been told time and time again as adults that we should save for a rainy day. All of these idioms have great morals designed to tell us to get ready for winter.
We used to be a nation of savers, but that trend has fallen off over the years. We lost our way and credit became the norm rather than the exception. There may be a very slight trend to turn that kind of thinking around as younger people witness the struggle their parents may have paying the bills. People who are in bondage to credit surely did not know how to get ready for winter.
Real estate agents should heed this advice in their professional lives. A good market tends to lull some agents into a false security that times will be better throughout the years. We who have been in the real estate industry for some time have seen the various cycles our economy and markets have gone through. It is through our experience that we can attest how important it is for real estate agents to get ready for winter.
I use the analogy of winter because the practice of real estate is a part of an agent’s life. Real estate agents tend to “live” real estate rather than just work at it. It’s a 24/7 commitment and it becomes part of who we are. Knowing that, then, how should a real estate agent get ready for winter?
It’s the astute broker or trainer who teaches a new agent from the very beginning that this business can be a “feast or famine” type of business. You’re either operating in abundance or you’re barely making it. There never seems to be enough consistency, which is even more reason to get ready for winter. The financial aspect would be the rule about not spending every dime you make and making sure to put back funds you may need during the “famine” stage of your career. From another perspective, though, agents need to begin “storing up” listings. The market is sure to turn, and buyers will not be that plentiful. Those buyers will be looking at listings, and you should be the one who has the inventory! One of my favorite idioms is, “he who lists, lasts.” It’s cute, but it’s also reality.
If you want to get ready for winter, think about saving more money, and think about gaining more listings. Agents are always telling me how much they love working buyers, but they know they should be listing. I tell them that if they don’t list, they can’t get ready for winter. It’s that simple. Let TEAM Hughes Real Estate School know if we can help you – that’s why we’re here, and we’ll share lots more of those great idioms too!