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To quit or not to quit! That is the question Realtors are asking themselves...

By
Real Estate Agent with Preview Properties

When I log onto the NWMLS to view homes for sale, it would appear that many of the homes on the market are owned by agents! It is a crazy time in our market, and a lot of crazy bad press and negative agents as well!

It is tough to keep positive in slooooow markets. When business slows, we should be spending more on marketing and, instead, we cut back.... Marketing dollars are hard to come by.... and we all have bills to pay...

We are losing a TON of our competition! While that is a great for our business (less competition= more for those of us who are left!) ... It sucks for those who are bailing out of real estate.

I toured a home the other day that is owned by and agent and is on the makret as a short sale! Sucks to be in that situation. Now everyone knows your business!

Instead of giving in to the negative press and buyers and seller's fears, we need to DO OUR BEST:

  • Show up early to the office.
  • Stay late at the office
  • Drop in on past clients
  • Work on sending business to others
  • Build your referral directory
  • Do one on one meetings with your best clients

 

Those who survivie this storm will be the HUGE winners when things "go back to normal"....

 

 

Comments(10)

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Jason Romrell
Business Attorney and Success Advisor - Los Angeles, CA

Great blog...thanks for sharing!

Sep 12, 2008 10:12 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Right you are.  I have spent the last year working diligently expanding my Internet coverage.  When the market breaks, meaning when mortgage companies have some money to lend, I'll be ready.

 

 

Sep 12, 2008 10:13 AM
Retired Notworking
Tallahassee, FL

My broker/coach suggested I take 20 people to lunch every month, even if it's the same 20 people :) Sounds like fun even if we'll probably go to McDonald's.

Sep 12, 2008 10:15 AM
Angelia Garcia
Pure Realtors - Dallas, TX

Right you are. I have also seen properties for sale that say are Realtor owned and are a short sale.  Why not just rent the home? Who knows why, only that homeowner.  I am looking to buy now for when the market improves.

Sep 12, 2008 10:16 AM
Veronica DeCarolis
Weidel Realtors - Flemington, NJ

Thanks for writing. Happy Selling! Veronica

Sep 12, 2008 10:18 AM
Real estate with a purpose
Our Father's Houses Realty - Easley, SC

I am excited about when the market turns around.  Some of our local heavy hitters are job hunting.  I'm sure we'll be well poised to grab their market share.

Sep 12, 2008 10:21 AM
Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate

I've re-vamped my entire operation.  The way we do business in 2008 is radically different from the way we used to do it.  In this market it is critical to stay alert, informed and open minded.  If you snooze, you lose.  The attrition rate among agents is phenomenal. 

Sep 12, 2008 10:32 AM
Laurie Mindnich
Centennial, CO

Jim, this market is certainly challenging on all levels. While I don't like seeing people leave, it has to occur (that cyclical thing). Oh- and Colleen? Take them to breakfast at McDonalds instead- 2 sausage/egg mcmuffins for three dollars. :)

Sep 12, 2008 10:35 AM
Mott Marvin Kornicki
Waterway Realtors® • Notary Public & Apostille - Sunny Isles, FL
Miami Notary & Apostille 786-229-7999

I thought that the "owner-agent" was a Florida thing exclusively. Apparently, owner/agents are a popular seller. Here we have a ton of short sales being represented by seller-agents; I think lenders are not too keen on a party to the transaction- especially a seller in the short sale walk away with any proceeds - even if it is the form of a commission.

The market will eventually improve- many firms and brokerages are just packing it in.

Sep 12, 2008 11:17 AM
Edward moloney
Edward Moloney Loan Officer GMH Mortgage Services - Holliston, MA
Loan Officer Providing 5 STAR SERVICE

This was a great blog. You seem to be in similar mind space as me. Yes we are seeing a huge drop out as well.

Sep 13, 2008 09:11 AM