Which way to turn if you're a Realtor?

By
Managing Real Estate Broker with Keller Williams Group One Inc BS145692MGR

Have you thought of leaving the industry? OR, moving to another part of the Country where property is selling better? Or, are you just feeling like you want to stare at the wall until the light goes on or you hear that business is looking up?

Many of the previous teachings and methods of conducting business in real estate hasn't been working too well since 2005.  I have been in real estate since 1978 and have seen the 17% mortgage rates of the "80's" and tough market conditions along the way etc... but I have to say this is the worst I have experienced.

Other blogs state that consumer loyalty, honesty, etc. don't exsist today and for the large part it does appear that way. Our society has conditioned the public to look for bigger bargains and the easy road to almost everything. Now that the mind-set is here we need to find a way to work around it or with it I guess.

I appreciate AR outlet for reading many topics that may help. What did we do before the internet?

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Rainer
16,882
Barry Bridges
Barry Bridges Weichert Realtors Bridges & Co. - Smith Mountain Lake, VA
Lake professional

I think to a degree you are right.  BUT just this week I had two instances that showed all is not lost. Two different clients I have been working with have found properties where they stopped to look and were approached by an agent. In  cases they turned down the offer of representation and stated they were working with me. I wrote one contract yesterday and will write the other tomorrow. All is not lost there are still people who appreciate what we do.

Aug 12, 2008 10:02 AM #1
Rainmaker
211,135
Kara Casamassina
International Property Management Group, LLC - Aiken, SC
Boomers and beyond

to answer your first question.    Yes.   

Aug 12, 2008 10:08 AM #3
Rainer
1,485
Jamie Vota
Sulek & Dutton Real Estate - Saint Clairsville, OH

Are you reading my mind? In markets like todays, when we obviously have too much time on our hands to ask ourselves these questions, I have to only believe that things will turn around and meanwhile we must prepare ourselves to be ready! We must educate ourselves, the public and our clients. The internet is an amazing tool but it will not, in my opinion, replace the human interaction that is required for such an emotional transaction as the sale or purchase of a home.

Bring on the old days when we were all too busy listing and selling that we didn't have time to ask ourselves these questions- as valid as they are!

 

Aug 12, 2008 10:11 AM #4
Rainer
38,269
Patricia Harris
Celtic Realty - Dunedin, FL

In what other part of the country are things better?

Aug 12, 2008 10:17 AM #5
Rainer
17,826
Richmond Virginia
Richmond, VA

I think a lot of what you're saying is correct.  These are different times.  Not just in real estate but in our society in general.  When was the last time any of us had great customer service anywhere?  Lack of it hardens folks.  They expect to be mistreated and in return they are suspicious, cold, and feel the world is out to get them.

All the more reason to be a standout agent.  We have to be the half-glass full person to survive.  The real estate cycle is a different matter...but up or down we have to be the cream that rises.  Thanks!

Aug 12, 2008 10:33 AM #6
Anonymous
Southeast Realtor

Theresa.. I too started in real estate back in the early 80's when home loan interest rates were 17% and higher. I have never experienced the market being as bad as it is right now.   The sad part is that real estate and living expenses are mounting and my last 7 deals have fallen through. I just had another one fall through today. Rural housing ran out of funds for the direct loans.  Our MLS shows 300 sales for the month of July and we have 1500 agents. That says it all.  I will be looking for another job if something doesn't give very soon.

Aug 12, 2008 10:34 AM #7
Rainer
85,519
Rich Mielke
REMAX Results, Frederick MD - Frederick, MD
REALTOR, Frederick Maryland Real Estate

Before the internet, we had the coffee room, the watercooler and happy hour for networking.

Aug 12, 2008 10:40 AM #8
Rainer
16,184
Rita Sinclair
Alain Pinel Realtors - Hillsborough, CA
Your Scottish Realtor

Don't forget the MLS book, I just can't imagine going back to that.

Aug 12, 2008 11:26 AM #9
Rainer
105,859
Travis Newton
Salem and Bend Oregon FHA, VA & USDA 503.931.4490 - Salem, OR
FHA, USDA, VA, LOAN EXPERT - Salem OR Homes For Heroes SALEM OREGON

Here are some stats from the MOrtgage Industry in Oregon

July 2007 - 15000 Loan officers

May 2008 -7000 Loan officers

Aug 2008- 4300 Loan officers

And 40% of those 4300 are out of state Loan officers who have their license in Oregon as well.

 

Here's the kicker. Only 1 in 7 Loan officers (of that 4300) do more than 1.5 laons per month...that's scary.

 

I do 7-10 loans a month...I can't imagine living off of 1.5 loans a month.

 

So, I cansee how some realtors may be getting out of the business..just like Most of the loan officers in my area have.

Aug 12, 2008 11:27 AM #10
Ambassador
2,704,894
Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Theresa- I think it is what you make of it. We have flourished in the worst market ever. I too, have been an agent for many years and was selling real estate with Jimmy Carter's interest rates. I wrote a post that was featured last week that was about this very subject. If you are running a business you must always be looking for the next open door in your business. You must move with the markets. Look where there is money made or about to be made and make your move to that sector, for us that was not just to remain in the luxury market which is not effected as much and then short sales. We are so busy that we are expanding our hiring. In every location, every market there is an opportunity for you to flourish in your back yard in real estate.

Aug 12, 2008 12:22 PM #11
Rainmaker
513,011
Lisa Wetzel
RE/MAX Realty Affiliates - Carson City, NV
CDPE, SFR carsonvalleyland.com

Theresa - I agree!  It's a different market and we need to sell differently for this market!  Thankd for bringing this forward.  You are a keeper, Professional, Hard Working, Dependable!  It's always a pleasure to deal with a great agent!

Jul 27, 2009 02:28 PM #13
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Rainer
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Theresa Redman

Certified Residential Specialist
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