Real Estate Survival Skills

By
Real Estate Agent with Keller Williams




Real Estate Survival Skills

BY Dan Grieb

You have to be willing to take what the market is willing to give you. When the tide goes in, you swim in with the tide. If the tide is going out, you have to swim out with the tide.  If you swim against the tide you drown.

No matter where you are in your business; whether you are looking to survive this market or you are looking to take your business to the next level, do not be afraid. We can either say things are different thus "harder" or we can embrace those changes and see opportunities.

To get back on top or to survive this market here is what it is going to take. You must learn and master the Survival Skills.

  • Prospecting - if you have never prospected this is the time to do so. There has never been more expired listing looking for an aggressive agent to help them get their home sold. FSBO's have virtually no chance of selling on their own so in the mean time they are simply waiting for the right agent again
  • Working with Buyers - In the market that was if you were a listing agent it is a prerequisite to survive this market to also work buyers. You should always be looking for triple A prequalified buyers. In this market you have to be able to convert the leads from your signs into money, again this comes back to have a system for conversion and scripts when speaking to prospects.  
  • Understand Short Sales - As a Listing Agent or a Buyer's Agent you must understand the way this transactions are handled. If you refuse to understand this process in some MLS's you are cutting yourself out of thirty to fifty percent of the available inventory and buyers.
  • Working REO's. - Depending on the market again this is must to understand. It is important that you understand how to get these listings and more importantly what it takes to keep them. With the property preparations, systems and team in place this is a very profitable and duplicable business system.
  • Get into Action! - There is a lot of fear in this market Agents / Brokers / Owners are fearful. Some are so scared that they are paralyzed; they are just waiting for a change to occur. Remember NO CHANGE / NO CHANGE.

Comments (6)

Robert Huntsinger
Empire Realty - Upland, CA
Empire Realty Upland, CA - Full Service at a Discount

Dan,

Your right!

As with any business you must read where the market or environment is and make adjustments to keep moving on.

Take care!

RJH

Jul 13, 2008 03:49 PM
Homes For Rent, Rentals, House Rentals
RentNice.com - Atlanta, GA

Good information. Thanks for sharing.

Search our homes for rent on rentnice.com.

-Susan

Jul 13, 2008 03:50 PM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Great post - thanks

Jul 13, 2008 04:01 PM
Elizabeth Ward Small
REALTOR & CEO The 3B Method Seminars - Burlington, NC

I love your points! I love the way you related to the TIDE! I would like to see more agents that want to jump in the water! So many see all the waves and just turn away...Keep up the motivation! I am listening and so are others! THAT matters!

 

Jul 13, 2008 04:13 PM
Jacinta da Silva
Atlanta Communities - Marietta, GA

To add to that, I think keep working.  There is saying that goes something like.  If you are going through help keep working.  You know what I mean...I can't remember the quote.

Jul 13, 2008 04:13 PM
Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Dan, great advice!  Thanks for the information!  Have a great week!

Jul 13, 2008 05:51 PM