Musings ©Patricia 1/7/2017
This AR challenge pressures me to deliver a 2017 forecast for the world and the impact it will have on the Real Estate industry. Do I predict 2017 will be a year of hope or fear? Prosperity or failure? In reality, the world lives in uncertainty. To answer the questions about hope or fear; prosperity or failure, I have to go back in time.
My High School was a four-year business school to prepare me for the business world. In preparation for graduation, it was my job to secure a job before graduation. The first interview was set up on the corner of Broadway and Lawrence, the headquarters of a major insurance company in Chicago. Upon arrival, I went through a battery of routine pre-employment testing. When I completed all the tests, the lady in charge of Personnel told me, "Congratulations, your test scores came back at the top of the 20 percentile. All you need to do next is meet the owner and he will decide whether or not you'll work here."
The interview went well. I remember the man with the funny little mustache wearing a black suit and bow tie. I could tell he was impressed. Then he asked one final question. It is the most important question in your entire life, is what he said. "If the company wants you to work overtime, would you work for free?" I gave him the answer I thought he wanted to hear, replying, "Yes!" To my chagrin, he stood up and said, if you don't value yourself to earn the money you worked for, I don't value you either." With that said, W. Clement Stone, one of the richest, most famous millionaires in Chicago at that time, author of Positive Mental Attitude said, "Thank you and goodbye!"
The lesson learned is I value myself enough to provide quality services to earn the income at the end of a transaction in Real Estate without wasting other people's time. I will not risk taking a client without getting paid for a successful closing. Fast-forward:
PREDICTIONS: WILL 2017 BE A YEAR OF PROSPERITY OR FAILURE
2016 was my best year in Real Estate. The year in review was a success in business and personal life. I predict a promising New Year for both prosperity and failure for my myself and clients I serve.
"Like success, failure is many things to many people. With Positive Mental Attitude, failure is a learning experience, a rung on the ladder, a plateau at which to get your thoughts in order and prepare to try again." --- W. Clement Stone
2017 will be a year of many changes. It begins with a new political administration. I do believe we will see more jobs available, but will the people who have been out of work for so long get hired and be able to keep their jobs? For those who manage to secure good jobs, will they be compensated fairly or will they find themselves in a competitive rat race with a" take-it or leave it," attitude?
"Success is achieved and maintained by those who try and keep trying." --- W. Clement Stone
In a world of uncertainty, one thing is certain: a positive mental attitude is critical to learning. Some will soar with success; others will fail. For those that are confident (healthy body, mind, and spirit, competent with excellent technology and communication skills), I believe they will have an easier time achieving greater success. A sense of belonging and home ownership will matter. I predict more relocation, more seniors will sell and need to find more suitable homes to live in, whether that means extended family living, a 55+ Community, Condo, or apartment and more millennials will need homes closer to cities where the job market is more promising. There will be issues with homes that have been neglected over time and this will increase the number of investors who will flip or turn homes into rental properties. New construction will continue to rise from abandoned farmlands, vacant lots, and areas where building structures crumbled. I predict more construction loans for raw land and movement by people who desire to build in areas not considered previously. We need new construction with energy savings to move us forward into the future, better infrastructure, bridges, and Commercial buildings. Old and hazardous building have to come down or be rehabbed. Taxes and properties will likely go up.
I predict 2017 will give more people hope. There may be danger, that some false hope could lead to failure. Fear is the enemy of success. Fear is contagious! It spreads like cancer. Making assumptions based on gossip, hearsay, the media, and inaccurate information from the wrong sources will likely lead to depression, sickness, and more poverty. Failure doesn't have to be the worst thing that can happen. Failure can be the best thing that paves it's way to more success than struggling in a place where one feels stuck. Failure doesn't have to be a bad thing. "Keep trying," is great advice from W. Clement Stone! Whether there is a problem with a job, failed marriage, the kids, or the inability to qualify for a loan doesn't define who you are.
Prospective buyers and sellers need the best, most qualified people in the Real Estate Industry to help guide them. If we learned anything from 2016 elections the media and the INTERNET are not reliable sources. Working with people you know, like, and trust should always be truthful, understanding, and helpful in guiding you to achieve your goals. The first step is to have a "Positive Mental Attitude," and know who to go to who can help you achieve your goals.
"All personal achievement starts in the mind of the individual. Your personal achievement starts in your mind. The first step is to know exactly what your problem, goal or desire is." --- W. Clement Stone