How to survive this market.

By
Services for Real Estate Pros with Grifoni Investments

This is the best and worst market in real estate ever. Isn't it? Prices and low, so it is great for buyers, but who can get a loan these days? So, what do real estate professionals do to survive? I got in pre-foreclosure and foreclosure properties early on and closed several short sale. I work for investors who have lots of cash and help them find deals. But what do other agents do? I know some have temporarely given up and went to work for Costco, WalMart, Ikea and struggle to pay their bills. Has anyone gotten into a new business? Do you have any story to share?

Comments (5)

Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

Aw shucks. I thought you had the magic potion on how to survive this market!

For me it's just hard work and staying in touch with my SOI.

Sep 04, 2008 10:26 PM
Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

Havent had any interviews with wal mart yet. We flip a few when it makes sense and list everything I can get my hands on.

Sep 04, 2008 11:19 PM
Charles McDonald®
Charlottesville Solutions - Charlottesville, VA
REALTOR®, Principal Broker®, Owner

The thing is that I actually like this market. It is making me work harder and be more creative...

your friend in Charlottesville!

Sep 04, 2008 11:58 PM
Manolis "Manny" Sfinarolakis
Keller Williams Realty - West Hartford, CT

I am just getting into the market at this time.  I didn't quit my day job and am planning to work part time...but I can foresee a huge shift in sentiment shortly.  When the pain in the market gets too great, that's the exact time the market turns.

We haven't gotten there yet, but I think in the first half of 09 we will see people rushing to take advantage of the 7,500 tax credit.

Kind Regards,

Manolis

Sep 05, 2008 12:25 AM
Mayra Espinosa Realtor San Mateo Pacifica Homes
Mayra Espinosa Broker- Realtor | Call 650-996-8961 - Pacifica, CA
San Mateo County Real Estate | Buy | Sell | Invest

Great job Tiziano! the magic potion is to work harder.

  • Learn about Short Sale
  • Help people in your office to negotiate short sale with banks they usually pay 1%
  • do some broker price opinion (BPO's)
  • get a part-time job
  • work from home to save gas
  • make more phone calls to your sphere of influences
  • door knocking
  • Another market is become a rental expert or property manager

 I hope that will help

Sep 26, 2008 07:22 PM