The Real Estate Market is Shifting
Hello, my old friend.... Throwback Thursday means many different things to many different people. It seems as if during my whole life, people have tried to do things differently to get the same results. Whether that means winning, making changes, going through transitions, or coping with reality, there is always a better way to read, understand, and gain better insights into situations. The real estate market is shifting. There are so many training classes and mandatory classes offered for real estate agents now. Business practices and forms are always changing.
Do you want to know where I found the best advice?
While sitting in a room shelved with books, "The 7 Habits of Highly Effective People," by Stephen R. Covey caught my eye. I picked it up and began to read, slowly turning the pages, as if it was for the very first time. During the past few years, everyone... buyers, sellers, investors, real estate agents, lenders, and Title Companies have experienced the market shift. In part one: "Paradigms and Principles," the paragraph that begins with: The Power of a Paradigm Shift. I began to shift my thinking about doing business in accordance with changes implemented as of August 1, 2024. The market we are in today, inflation, high interest rates, and low inventory, isn't new. It's just different. Agents, buyers, and sellers are now adapting to changes in how we do business.
I paused to think about major events in the United States during the time when "The 7 Habits of Highly Effective People," was published in 1989. People grabbled with the economy and tough times.
- There was a war going on in Vietnam.
- For returning Veterans, it was not easy to get a job.
- There was gas rationing at the pump.
- Interest rates were double digits.
- Watergate was in the current news.
- The Washington Post was on a mission to uncover the truth.
- Body bag counts were featured daily.
- People faced stagnation.
- By 1979 interest rates peaked at 12.9%
- From 1980 to 1981 interest rates rose to 18.63%
Challenges were out of control. Steven Covey wrote and published a book. Millions of people read it then. I re-discovered the chapters were just as powerful today as they were back then. If you haven't read it in a long time, I highly recommend.
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