When The Market Changes, Everyone Needs A Savior ! Have Yours Ready

By
Managing Real Estate Broker with RE/MAX Executive Realty 104763
https://activerain.com/droplet/5gJp

 

There seems to be a consistent flow of questions regarding the future potential for the market crashing or changing to a slower pace.  Expect change because that’s the constant state of the real estate market.  It changes, and it changes consistently.

I’ve experienced 40 years of it changing. My production through every changing market has been consistent with the previous market. It’s a steady flow because my marketing is consistent, and I know who I need to latch onto depending on the state of the market.

I’ve witnessed agents going home and staying there until the market re-energizes. When and if the phones ring without any effort on the part of the agent, unfortunately, they’ll return.

Agents need to focus on the present market. They’ll know when the market changes, and they, in turn, must change with it.

When rates were as high as 21%, we changed the way we financed mortgages.  I made as much money in that market as any other.  I used Ahmanson Mortgage Co and set up the buyer with a 40 year negative amortization loan. The payment was affordable, and it resulted in a roof over their heads. When the market changed back to something reasonable, they refinanced.

When there was an extreme buyer’s market, sellers who needed to sell quickly would participate in the financing. There were sellers who were mortgage free who would gladly do owner financing.  Some did that at Zero interest because they were desperate.

There have been many sellers’ markets where the listing agent would determine the true fair market value and add $20,000 to the list price.  There would still be a bidding war!!

Markets change; marketing during those changed times will change; real estate agents who are not well versed with marketing will “bench themselves” until that game ends.

If you’re concerned about surviving, don’t wait for the market to tank. Connect with agents who are successful and learn what’s needed NOW to survive in the future.

We’re in a people business, and you must reach out to people, face to face. Network NOW to secure a position within your marketplace to survive the storms ahead. 

Yes, there will always be storms. Depending on the state of the market, you must position yourself to weather that storm, and you can accomplish that if you’ve networked with the right people.  Who your Savior is will depend on the state of the market. Be ready to tap into that source. Have your sources ready now.

Just another thought for the moment….

Posted by

       

Barbara Todaro, sales manager of RE/MAX Executive Realty 

Marketing Agent for The Todaro Team

308 W. Central St...suite E

Franklin, MA 02038

508-520-9881

Exclusive Marketing Agent for The Todaro Team

 

             Copyright © 2009 - 2018 Barbara Todaro

                               All Rights Reserved



 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 01/12/2019 11:00 PM
Topic:
Real Estate Sales and Marketing
Groups:
The Art Of Marketing You
Bartender, Make it a Double
Old Farts Club

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Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Doug Rogers grab hold of as many powerful people as you can find....networking is a task that I'm sure you're well versed with....

Michelle Carr-Crowe Just Call 408-252-8900 Top 1%! find the one who will carry you through....or maybe more than one if you can...

 

Jan 04, 2019 12:49 PM #36
Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Steven Nickens you must do whatever you know works well for you....hopefully, networking is in that mix.... you were a builder....you have contacts everywhere.... start with banks... attorneys.... and other builders....you know both sides of the business...building and selling.... 

Jan 04, 2019 12:51 PM #37
Ambassador
3,615,133
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                   

                      Thank you, BarbaraT. 

Jan 05, 2019 06:12 PM #38
Rainmaker
550,538
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Good Morning Barbara! Business people are drawn to you because you are well equipped to preach... with your vast knowledge and experience. Thanks for my early dose of success 101.

Jan 06, 2019 04:26 AM #39
Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Maria Gilda Racelis you ARE successful .... you don't need any more doses.... 

Jan 06, 2019 04:39 AM #40
Ambassador
1,704,537
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Very good advice. It's always smart to read the shifts in the market and be prepared to adjust. And yes, being proactive is a big one - look for opportunities and be consistent. 

Jan 06, 2019 07:13 AM #41
Rainmaker
3,080,359
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Barbara - I don't know how I missed this post but thanks to Kathy, I saw it in Sunday School. Three Hail Marys, this post and I'm set! 

Jan 06, 2019 08:47 AM #42
Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Debb Janes EcoBroker and Bernie Stea JD being prepared is half the battle

Michael Jacobs dare I say, I haven't said the Rosary in a very long time!!! including those three small beads!

Jan 06, 2019 08:51 AM #43
Rainmaker
114,974
John Henry
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Custom Home Design

Barbara you sound like a savvy stock trader who can make bucks riding it up and down!  Congrats!

Jan 06, 2019 09:08 AM #44
Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

John Henry I'd better be savvy about something in real estate....it's been 40 years....

Jan 06, 2019 09:28 AM #45
Ambassador
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

High interest rates Barbara Todaro  that was when I purchased my second house and could not find a Realtor who listened to my wants and needs --  The other thing of being a great agent is to listen -- Gklad Kathy chose this post as I missed it

Jan 06, 2019 12:28 PM #46
Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hannah Williams there's business out there no matter what the market conditions may be.... 

Jan 06, 2019 12:52 PM #47
Rainmaker
510,875
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

I agree, Barbara Todaro "there's business out there no matter what the market conditions may be." We adjust, that's what a real estate professional does.

Jan 06, 2019 01:14 PM #48
Rainmaker
4,650,465
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hella M. Rothwell, Broker/Realtor® I agree.... there's always business out there for those WHO DO BUSINESS.... you're a prime example.... 

Jan 06, 2019 02:00 PM #49
Ambassador
3,810,708
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Barbara

Wise words from a wise person. We all know you always have to be prepared for shifts...sometimes small and sometimes big. While being consistent is important, you cannot always do things the same way, and have the sane expectations, given the changes we all know happen. It's always better to be proactive, than reactive!

Jeff

Jan 06, 2019 07:55 PM #50
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Such sage advice, as always, Barbara! Oh, how I remember those who did this-

"When and if the phones ring without any effort on the part of the agent, unfortunately, they’ll return."

I remember the market turning (for the better) after the recession and seeing the faces of these agents in my market again. At first, I was put out about it but, realized that I had survived the recession by changing course and learning to master a business that meant honing in on some serious negotiating skills.

So, I decided to refocus my energy - any time I face them on the othher side of a deal, I am, of course kind to them but, I also put those refined negotiating skills to use - and win every time! 

Funny how someone else's quote brings back memories we forgot we had! LOL

Jan 06, 2019 08:41 PM #51
Rainmaker
946,811
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great post, as always Barbara.  So very true.  Position yourself to handle all the ebbs and flows of the market.  Go back to the basics and continue doing what works, marketing and being present!

Jan 08, 2019 08:25 AM #52
Rainmaker
2,051,483
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Excellent advice, Barbara. I'm really surprised this isn't featured! Glad Kathy shared it!

Jan 08, 2019 02:12 PM #53
Rainmaker
1,313,335
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Everything changes, and if we need to change our strategies as well. Excellent advice!

Jan 13, 2019 03:21 AM #54
Rainmaker
3,010,858
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

It doesn't happen overnight...staying consistently in touch is the "magic" !

Jan 14, 2019 06:00 AM #55
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