Can You Do the Limbo?

By
Real Estate Broker/Owner with Real Living Signature Properties

Another day of conflicting market forecasts.  Bernanke says things are starting to look up!  At the same time, the general economy is faltering.  Gas is at an all-time high, but pending home sales are up.  Then we see the 14% drop in home prices last quarter ... it's amazing we're not all running to our doctors asking for Prozac!

Seriously, how do we survive such storms?  Nobody seems to know what the economy is doing.  Those who do claim to be in the know are probably wrong, whichever stance they take.  One news article I read yesterday even refers to the chair of NAR as "the market pollyanna" - always looking on the bright side.  This morning's article focused on the general gloom among buyers in the market right now.  So we're not only depressed, we're schizophrenic!

The only way to survive in this (or any other) market is to be flexible.  It's easy to ride to the top in a strong market, but we have to be prepared to LEAD the market, even at the bottom.  You don't want to be in the last car on the roller coaster!

How flexible are you?  Does your business plan (you do have one of these, don't you?) allow you to be flexible?  More than just allowing it, you must depend on it.  Nobody has a crystal ball that is clear enough to see the future perfectly.

The agents who cannot adapt to the changing market will leave the industry.  This is not a bad thing.  Some will reconsider starting a new career in real estate - again, not a bad thing.  Yet for those who can adjust and adapt, real estate remains one of the lowest investment, high potential return businesses anyone can start!  But before deciding to get your license, ask yourself if you have the mental/emotional stamina to survive a down market.  Can you do the limbo?

The same question applies to those already in the business.  Can you do the limbo?  Can you adapt to changing consumers, changing technology AND a constantly changing market?  If so, congratulations -- you'll probably make it!  If not, why not?

Learn to dance - this business is a dance.  Do the limbo!

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