Ask An Ambassador: Are You Ready For A Real Estate Disaster?

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

I've been through a few natural disasters in my life.  Mother Nature has her moments where the wind blows, the earth shakes, and we're just along for the ride.

There are things you can do to prepare (we have water, food and a stove in our basement and don't ask me how many months worth of cat and dog food we have!).

But disasters aren't limited to the natural variety.  Are you a prepper of the real estate variety?  Do you have a Plan B & C?  Things happen, so are you ready?

 

Let's say that Ben decides tomorrow to close the doors on ActiveRain. (and no, I have no inside knowledge this might happen).

Are you ready for that? 

No? 

Well I'm not totally ready for that either, but there are things we can do to be ready.  It's prudent to download  your posts periodically so you don't risk losing ALL the work you've ever done here.  Click along with the bouncing ball:  My Home, My Blog, Export Blog Entries.  When done you'll have a zipped XML file that contains the essentials of ALL your blog posts.  Don't count on pictures and formatting transferrring cleanly, but you'll have the content and if you know what to do with it, you can drop it into a Wordpress site, or worst case hand it to some techie who will know how to make use of it.

 

Other things can fail too.  Your phone, your PC, your website.  Do you regularly back up/sync so you're not going to suffer an info tech disaster if there's a failure.  Have your researched what you'd want for a replacement?

What if your brokerage undergoes a radical change?  Years ago not long after we left our first brokerage the brokers sold their internationally branded office to a local office.  Agents had 3 days to decide to make the switch, or find a new home.  New signs, new logos, new marketing, updating everything that had RE/MAX on it.  So do you have another brokerage in mind if your current home no longer fits your needs?

 

What if your niche is no longer viable?  Not all that long ago in our market foreclosures and short sales were in high demand.  Some agents made a specialty out of them, pretty much excluding any other kind of business.  But what happened when the economy bounced back and the distressed market shriveled to almost nothing? Is your specialty sustainable through good times and bad?

 

Can you survive your next closing falling through at the last minute?  This speaks to your financial reserves.  If there's anything we should learn in this business is that the check isn't ours until it's in the bank.  Unpredicatable things happen and the deal becomes NO DEAL all too easily.

 

And of course you've got the disruptors out there, and depending on where you are on the belief spectrum we're either going to be fine or we'll all be out of a job by next week. 

 

 

Are you ready for what's next?

 

 

 

Until next Tuesday, just Ask An Ambassador if you need help!

Bill of Liz and Bill aka BLiz 

 

 

 

Posted by

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Rainmaker
1,401,064
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Excellent advice. Backing up everything, thinking of alternate routes in the event something we are doing now is no longer available,... those are important things to do.

May 22, 2019 03:14 AM #23
Rainmaker
3,183,938
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Always have a Plan B....for everything.

May 22, 2019 03:36 AM #24
Rainer
408,923
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

These things can and will happen to us.  I have lived through these things and fortunately I had  financial independence to get me through the tough times.  I was fortunate but others in our office were not prepared.  A plan B is always in our best interest.

May 22, 2019 04:22 AM #25
Rainer
500,638
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Great awareness! Thanks for sharing!

Your phone, your PC, your website can fail too.  Do you regularly back up/sync so you're not going to suffer an info tech disaster if there's a failure.  Have your researched what you'd want for a replacement?

May 22, 2019 04:30 AM #26
Rainmaker
1,514,865
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Bill, a social media platform shutting down is something I think about a lot and because of it have diversified. If it weren't for my husband being in IT I don't think I'd have as many plan B's as I do in regard to technology though. Extra phone and laptop always on hand. I hope everyone takes your advice and exports their blogs. One just never knows when a site could be here today and gone tomorrow.

May 22, 2019 05:37 AM #27
Rainmaker
756,462
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

Well you know I have my Main Site...so that would not affect me in that regard. But I do need to look at the content and putting that someplace so I have it! 

Any other real estate disaster...No...It will hit me hard!

May 22, 2019 05:44 AM #28
Anonymous
Tom Phelan

For many Realtors a disaster would be if a competitor came to town and offered to List properties for 1%. And if this competitor had a Buyer come to him that was unrepresented an offer could be made with the Buyer agreeing to pay 1%.

However, lowering the commissions isn't always the answer especially when the Seller doesn't lower the asking price accordingly.

May 22, 2019 05:46 AM #29
Rainmaker
487,348
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Hi Liz and Bill: You have a winner here--this post covers it all and makes us all consider what we need to do to prevent the worst from happening: That we will have nothing in the end--either monetary or psychologically! You deserve this feature so much! The thoughts you have written down here, all of those that affect us as real estate professionals, is needed at the moment like nothing else! We can look at the circumstances we are in right now as a total disaster waiting to destroy our profession or we can see it as an opportunity to thrive elsewhere or create anew that which we think we have lost. Thanks for this timely and supportive post--time for a "Pay it Forward" moment! 

May 22, 2019 05:55 AM #30
Rainmaker
449,977
Brian Rugg
Rugg Realty LLC Sun City Texas 512-966-3200 - Georgetown, TX
Sun City TX Real Estate - Georgetown, TX Real Est

Hello  

You guys are just full of happy thoughts this morning!  Fact is, you are right to be concerned and have a back up plan on many different levels.  I have been predicting for 15 years the so called Disruptors were the biggest threat we face and frankly don't know why it has taken them so long .

best of luck to all going forward

May 22, 2019 06:37 AM #31
Rainmaker
231,081
Monica Hill
RE/Max Associates - Wilmington, DE
the REALTOR to help you discover Delaware

This is one of those posts that I like and don't like at the same time because it reminds me of the potential pain that's out there. But... you do have to be prepared so this was a great reminder! Thanks!

May 22, 2019 11:46 AM #33
Rainer
157,900
Monique Ting
INET Realty Honolulu, HI - Honolulu, HI
Your agent under the sun

Thank you for the reminder. We are so used to having all of modern life' amenities that we take them for granted. Just last week ,tree trimmers on my street cut down my internet line and I was out of internet for a couple of days. Not wanting to go to the office at night I  spent a few hours at the local Starbucks which luckily was open late...

May 22, 2019 11:48 AM #34
Rainer
6,157
Clay Greathouse
Tombstone Real Estate - Tombstone, AZ
Off-Grid, Alternative,Rural, Solar,Cochise Arizona

  Being rural has its advantages, for one the Disrupters "as I find they are called" will be a long time before they look at podunc Tombstone AZ.  With a lower density of folks, there is less of a Panic effect in a disaster.  Being Off-Grid I always have a back up for the internet as it is a common ocurance.  There is also the draw backs, like trying to make a living selling a bunch of $30,000 places!  A saying amongs survivalists, 2 is 1 and 1 is non.

May 22, 2019 03:26 PM #35
Rainmaker
2,475,876
Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Thanks for the advice. I did back up a few years ago and just did another backup. A great reminder and thanks again.

May 22, 2019 07:21 PM #36
Rainmaker
2,422,639
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This reminds me of the famous "rainy day fund" principal and it is no myth

May 23, 2019 06:42 AM #38
Rainmaker
966,485
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great post as always.  A broad brushstroke for any agent to consider.  Thanks for sharing how to save our list of posts.  I'm sure your file would be HUGE!

May 23, 2019 06:20 PM #39
Rainmaker
108,222
Marie-Denise Kratsios
Daniel Gale Sotheby's International Realty - Huntington, NY
Where ever you are, that's where I'll be!

As they say, it's not if something will happen, it's when it will happen that we need to be prepared for.  Thank you for your great suggestions.  They are eye-opening, and my eyes are now wide open.  

May 23, 2019 08:59 PM #40
Rainmaker
153,240
John Henry
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

Thanks for a great reality check on what could go wrong and how to prepare for it.  Important stuff here Bill!!  Definitely backup is absolutely necessary.  Saving our blogs here is a must.  Just think of the time and effort all this writing involves!!

May 24, 2019 05:03 AM #41
Rainmaker
3,761,817
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning @Liz and Bill Spear ,

You are so right "stuff" happens all around us in business and personal life that can affect the quality of our business and daily living. Always having plan "B" is a must. After the last 8 months of unexpected  health issues for my Geno I can safely say I've learned to roll with the what is thrown our way and hanging in there. Your tip on saving posts is so timely. I agree with all the effort I've expending on marketing to a community I don't want to see it lost.

May 25, 2019 06:23 AM #42
Rainmaker
60,735
Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Agent

Oh yeah!!! Bring it on...;)

May 27, 2019 08:12 PM #43
Ambassador
1,609,754
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

The current real estate model is not sustainable and change will be radical. Captialism has an advantage in invovation but if you understasnd Schumpeter's Gale then you know it also destroys something as it innovates. Anybody using Kodak film anymore?

May 28, 2019 01:26 PM #44
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