Putting Panic On Pause (A November AR Challenge)

By
Real Estate Agent with Big Block Realty 858.232.8722 CA BRE# 01261476

Fear is caused by either the threat of immediate physical danger or it's the absence of facts, so we fill in the narrative with worst case scenarios. Fear is also caused by the absence of GRATITUDE in your life.

People say this market is challenging. May I remind you that they were saying that about the Q2-2020-Q1-2022 markets too?! And by the way, "they" always say that, no matter the market, so enough of that painfully tired and droll narrative.

What I'm most grateful for is my perspective I honed from my experience. My ability to appreciate what I do have in spite of what the market is doing beyond my control. I'm grateful I was challenged by my own 2003 relocation and starting my business over, that I conquered The Great Recession by re-training and changing my business model, pushing through past election chaos, thriving in the a deadly world changing Pandemic and now by navigating this current recession. I have the ability to put panic on pause for myself and therefore my clients.



Why would I be grateful? Because it will always be something because the pendulum must swing both ways; so being prepared for it not crippled by it is what I'm grateful for. These adversities have shown me what I'm made of and caused me to get better. They give me perspective to lean on: "I've been through worse." and "I did it before so I can certainly do it again." I have the ability to put panic on pause for myself and therefore my clients.

Mental fear is the absence of good information, communication and leadership.
I like to remind my clients and the nay-sayers: Houses were bought and sold each year of my career. So whether it's Zillow's Market Share, iBuyers (which are failing often in this market), Recessions, Inflation, Pandemics, Tech Crashes, Interest Rates, Stock Market Chaos, or Market Booms; houses were bought and sold each of those years and events. If I (we) did it before I (we) can do it again, I (we) have the ability to put panic on pause for myself (ourselves) and therefore my (our) clients.

Fear swells in the minds of the unprepared, that moment they realize, I should have been better prepared, saved more, spent less, ate better, exercised more, studied more, etc. Adversity doesn't develop your character, it reveals it.

Any of us that have had careers longer than 15 years have seen some significant and unprecedented markets in our industry. From initial market boom of 1998-2006, to The Great Recession and on through The Pandemic, and we're still here in spite of them. We've been through some of the worst markets in history and some of the most robust markets in the last 25 years. So we have the ability to put panic on pause for ourselves and our clients, because we did it before and we can do it again. Houses were bought and sold each year.

The last three years have been the most robust three years since the 1998-2006 era for me and many of my associates in real estate. But when my 2020 buyers were complaining about low inventory and high competition, I was bringing them perspective and confidence in my ability to help them; reminding them of the same scenario in 1998 and that by 2000 the market was exploding (at least in The Bay Area). The interest rates were not 3% however, they were 7%-8% range (just like they are in Q4 2022 and when I bought my first house in 1989, the 10%-12% range was what was available to me. Houses were bought and sold each year in all rates, levels of competition and inventory fluctuation. We have the ability to put panic on pause for ourselves and our clients with perspective.

"We got this!"

I'm putting panic on pause for them in 2022's changing market, because after all, we've been here before.  My actions and my interactions with my clients offer an experienced perspective and hope that cuts through the social media and click bait crap that attacks their spirit daily. I'm grateful for the experience that allows me to remain calm and know we have the ability to put panic on pause for ourselves and therefore our clients...yes you do!

 

 

Photo Cover by Johannes Plenio: https://www.pexels.com/photo/silhouette-photography-of-boat-on-water-during-sunset-1118874/
Photo 1 by Ian Turnell: https://www.pexels.com/photo/assorted-fruits-stall-709567/

Photo 2 by Ella Olsson: https://www.pexels.com/photo/flatlay-photography-of-fruits-1334131/

Posted by


Thomas J. Nelson
REALTOR®, CRS, RCS-D, CDPE, e-Pro, Certified Military Home Specialist, Luxury Home Specialist, Author, Keynote Speaker and  Podcast Host 

Serving Coastal San Diego from Carlsbad to Coronado, Downtown, Balboa Park Area,
La Jolla/UCSD & Mission Bay Park Areas
I Offer Rebates to Veterans
& Active Duty

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, medical advice or financial advice.  For legal advice see an attorney.   For tax advice, health or financial advice see a tax attorney, certified public accountant, or other qualified professional.

Comments (21)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Thomas - and with this POP (Panic on Pause) you have put a lot of panache into this challenge with a refreshing perspective.   

Nov 11, 2022 09:01 AM
Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

After 35 years in the business and markets going up and down - just like the stock market I simply do  not over react or at all really, to POP!  Why waste energy and time on what may go 'wrong' and focus on all the good! Stay centered and calm.  Move along folks.....no pop!  That is my 2 cents.

Nov 11, 2022 09:16 AM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Oh, we are so often on the same page and this is again, one of those times, Thomas! I tell agents who are trying to 'settle' an issue with a difficult agent or buyer/seller all of the time - they feed off of YOU; they mimic how you respond to situations - good or bad. Oftentimes, they go beyond mimicking you - going to the extreme. 

This is no different when we are discussing the current market. We simply must put panic on pause - and focus on the positive!

Great entry, Thomas - thank you!

Nov 11, 2022 09:43 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thomas, I for one, am thankful it ISN'T frenzied like it was earlier this year, and have many transactions right now, because it is more stable.

Nov 11, 2022 09:50 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

The ability to eliminate panic, and to just deal with facts and those things we can control goes a long way towards a productive and happier life.

Nov 11, 2022 12:00 PM
MaryKay Shumway
The Kellstrom Ray Agency, Inc. (Est. 1948) - Sister Bay, WI
Door County Wisconsin's Real Estate Expert

This was a truly great blog--we were just reminscing in the office with the "newbies" that business has never been "list a property and wait for 10 Offers over asking price no contingencies" EVER before.  Going back to the "old" normal is going to be just fine.  

Nov 11, 2022 01:23 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Love this Thomas!!!! When your buyers, sellers and fellow agents see that you've "put the panic on pause" that calmness spreads to them. They feel they are in good hands. Panic is like fuel to the fire...don't feed it!

Nov 11, 2022 05:47 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

We’ll have those days where we could use a break from the madness and the mayhem in our minds

Nov 11, 2022 10:55 PM
Barbara Michaluk
Weichert Realtors | Phone Direct 240-506-2434 | 301-681-0550 office - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

I agree with other agents who have been around for awhile and recognize there's no need to Panic. The market changes over time and we can adjust to align with what's going on now. There's always positives and negatives to deal with every market.

Nov 12, 2022 05:24 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Being able to put panic on pause is definitely a gift.  Any market can be tough or easy, it's all about how we handle it.

Nov 12, 2022 06:49 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

I am a bit on the newer side of the business at 6.5 years in...but far from a newbie. I previously spent nearly 17 years on Wall Street...so I am well accustomed to the ups and downs- the main difference is that I was either salaried or if I was consulting- I was still paid a minimum amount. Business has slowed massively in my submarket, but I don't think it will remain that we for much longer. In the meanwhile, I am taking the slowdown as an opportunity to build my internal infrastructure for clients and to take time for myself for a change. The activity will come back, it always does. 

Nov 12, 2022 08:20 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Selling the Main Line & Chester County

I like the perspective, and it is very true. We do not have to listen to "them" as we have our own experience.

Nov 13, 2022 09:29 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Adam Feinberg that's great my friend, wonderful observations and attitude. I do the same, a slow down in the market always means stepping up marketing and systems projects in my business too. Great minds!  💡

Nov 14, 2022 06:22 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Nick Vandekar, 610-203-4543 well said!

"We do not have to listen to "them" as we have our own experience."

Nov 14, 2022 06:24 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Good morning, Nick. This is an excellent post and one that serves to keep us attentive to our client's needs and what is going on around us as well.

Nov 14, 2022 08:33 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Thomas:

I really like your perspective and in particular putting "panic on pause."  Works for business and in real life!

Jeff

Nov 14, 2022 01:17 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Good morning Ed Silva I actually do not go by Nick anymore, since "the incident",
I'm known as Thomas 😎😉😁

Nov 15, 2022 06:14 AM
Ed Silva

I'm sorry  I forgot the witness protection

Nov 15, 2022 07:49 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Thank you Jeff Dowler, CRS I appreciate your feedback and thank you for popping by my post!

Nov 15, 2022 06:15 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

I Always enjoy reading your perspective.    What a timely post Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets .    It's ironic that buyers were more than willing to pay WAY over asking price earlier this year.     I expect some buyers may kick themselves later for not being pro-active in this time of less competition and greater negotiating power.      Every market shift has opportunities for those willing to calmly sift through the situation at hand.

Nov 30, 2022 11:59 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Thank you @M.C. Dwyer  I appreciate your kind words and have lots of fond memories of weekends in Felton, Santa Cruz and Boulder Creek :)

Dec 01, 2022 10:13 AM