Are you "Staying Alive" in this market?

By
Real Estate Broker/Owner with Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 GREC# 169695
https://activerain.com/droplet/4sVH

Animations - alien124

Some days I believe myself when I say "self, we'll get through this period... we've weathered it before?"

Then some days I don't believe myself as I watch my savings dwindle the closings crawl like snails to the table, deal with the "negotiated" commission cuts and have watched numerous deals fall apart for a variety of reasons.

So what is it that I am doing to stay alive in this market? 

Praying first and foremost... I'm not kidding.  Now I am not praying for clients and money.  I learned the lesson my childhood Sunday School teacher taught me about Solomon... I'm praying for wisdom & patience.

Education- As things come up in this market that are new... or new to me at least, I try to stay on top of the learning curve.  I immediately took a contracts class in 2008 when GAR made some new kind of major changes to our contract.  I've also taken REO and Short Sale classes because this is coming up more and more and it's bound to be useful to me.

Sales Meeting-Okay, maybe I should have been holding them all along, but in 2005 and 2006 to be honest with you not only did I not have the time, I honestly did not have an appropriate space.  In January of 2007 we moved into a new office and have a lovely new conference room that makes sales meetings "do-able".  And I give my agents "tests".  Now obviously no grades... I let them give them selves a pass/fail.  And about the 3rd time I asked them to list the number of our listings they had not seen... the number was 0 for all of them.  The tail of tracking showed some of them had previewed on the way to the 10 A.M. meeting... but hey they've seen it now.

 New kinds of Advertising-  I've revamped my print ads, trying hard to remember my former life as a graphic artist for a newspaper.  I've concentrated on keeping my web site updated... daily.  I've also ventured out to sources like craigs list and lakehouse.com that 5 years ago I hadn't heard of if they even existed.

Basics-Mail outs.  I did several different, local to neighborhood trends in the market, local to neighborhood "just listed", welcome your new "just sold" neighbors.  And as always I just ordered 2009 refrigerator card/calendars.  Funny I start getting requests for those this time of year.

Is there something I'm missing that I should be doing?  What are you doing in your market to "stay alive" with market conditions at less than optimal?

www.lake-sinclair.com

NOBODY COVERS THE LAKE LIKE LANE

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Rainer
215,888
Frank & Jodi Orlando
Frank & Jodi Orlando Get Us A Home Realty Atlanta Homes Sale - Cumming, GA

We have expanded our market base, perhaps you would consider a broader base to work from....

Oct 08, 2008 02:09 AM #2
Rainer
29,726
Charity Lane
O'Brien Realty - Prince Frederick, MD

Cute post. I vote for being heavy on the internet advertising. It's easy to track, can get immediate results, and usually relatively free or cheap. I am working with a buyer now that found me from a free craiglist ad. She is pre-qualified from my favorite lender this week and we are going out in a few days to finish looking at homes and write an offer on her favorite. Not bad for a few minutes on a free ad!

Just keep positive - nobody wants to work with someone that is all doom and gloom!

Oct 08, 2008 02:10 AM #3
Rainer
66,913
Justin & Katie Keisler
Realty Executives of Hickory - Hickory, NC

Great strategy - Praying for wisdom and patience - that will be what brings us all through this turn in the economy!

Thanks for the reminder to pray like Solomon!

Have a successful day!

Oct 08, 2008 02:28 AM #4
Ambassador
2,855,319
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Dave- yes... if I can be found on the internet... that pays for itself

Frank and Jodi- I have my niche, the lake I work is 15,000 plus acres with 417 miles of shoreline.  I really think I couldn't expand on that and still know my market as well as I do.

Charity- I wear a sparkly "business is great" pin to work.  I am always in my "happy face" mood in front of agents or clients/customers.

Justin and Katie- I do tend to wear my faith on my sleeve, but I think we're supposed to do that.  And when I was a kid and prayed for a bike... I ended up with a job and saving the money and buying my own bike.  It was right about that time I heard the Sunday School lesson about the divided baby and real mom.  That lesson... to pray for the means to the end ... the wisdom.... has stuck with me.

Oct 08, 2008 02:53 AM #5
Ambassador
582,751
Konnie Mac McCarthy
MacNificent Properties, LLC - Cobb Island, MD
Broker/Owner - VA & MD "Time To Get A Move On!"

I am surviving, I am busier than I have been in a long time, you are right Internet is great.....

Oct 08, 2008 04:42 AM #6
Rainmaker
84,698
Terri Visser
Desert Sky Real Estate, LLC - Redmond, OR
CRS - 12 Years Selling Central Oregon Real Estate

I am pretty much with you, although I should probably do more mailings.  I am definitely focusing on the education aspect while there is time.  And I try to find exclusive places to advertise ie:  a display board at my gym, the 9thwhole at a local golf course, display board at a local grocery story. But only with the guarantee that no other agent advertising will be present.

P.s.  Praying for patience can be a dangerous thing.  Mine always seem to get tested when I do that :~)

Oct 08, 2008 11:09 AM #7
Rainmaker
3,978,945
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I am gald to see other are praying also.  I am staying alive, about 20 pounds lighter , but alive!

Oct 08, 2008 11:52 AM #8
Ambassador
2,855,319
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Konnie- glad things are going good for you, keep it up.

Terri- After my daughter made it though her teens I think I could change my name to Job

William- I'm a stress eater so I found that 20 you lost.

Oct 08, 2008 02:41 PM #9
Rainmaker
484,352
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes

Tammy

We refired up our property management division and feel this will serve as a hedge in a downturned economy.

Oct 08, 2008 02:44 PM #10
Ambassador
2,855,319
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Trey- that's not really a road I want to travel.  two colleges local to here, makes for very bad renters.

Oct 08, 2008 02:58 PM #11
Rainer
25,645
Sandy Gleason
North Pointe Realty - Buhl, ID
Realtor for Southern Idaho-Magic Valley

We are working alot of rentals also. I am doing more and more online since I have more time.

Going to every and any event I can find and networking with as many people as I can.

 

Oct 10, 2008 01:15 PM #12
Rainer
25,188
Jim Curry
Long & Foster - Frederick, MD

Great information, Thanks.  I think taking as many "free" classes as possible so we're ready for the Return of the Normal Market .... I'm hoping it will start next week.

Oct 10, 2008 01:27 PM #13
Rainmaker
1,058,012
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

I find that staying in contact with all of my clients assures that I receive referrals.  Once or twice a month I contact all of my former clients by phone or mail.

Oct 10, 2008 05:03 PM #14
Rainmaker
808,819
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

Hi Tammy;

This market is very difficult, I made some adjustments and I am working harder. Thank you for the super post.

Oct 11, 2008 05:39 AM #15
Rainmaker
571,668
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Make sure you are covering both ends of the spectrum:  on one end is the internet and on the other would be things like getting back to doing open houses !  Good selling to you.

Oct 11, 2008 05:41 AM #16
Rainer
35,606
Jane Page Thompson
Aiken Properties - Aiken, SC

Active Rain has been a good place to be getting a wider web presence in this changing market, we are on the up swing!

Oct 11, 2008 06:07 AM #17
Rainmaker
3,246,981
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Hi Tammy

Staying alive in the real estate business today can be very challenging; a good start is going back to basic and  praying may also help.

Good luck and success

Lou Ludwig

Oct 11, 2008 08:13 AM #18
Ambassador
2,855,319
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Sandy- Social networking is also a great idea.  I don't do so much of that.  I'm a home body.

Anthony- I hope you might have picked up some ideas here.  I'm making an effort to work smarter instead of harder.  Not that hard work ever killed anyone, but why chance it.

Bill- Covering all your bases is great advise. 

Jane- yeah I don't know much about google juice, but I'm giving learning about it lots more effort

Lou- Praying is just part of my nature.  I was trying to figure out how long I've been a Sunday school teacher the other day and I think it's 17 years now.  I've worked with 4 year olds to 5th graders.  I've learned a lot about prayer from children.

Oct 11, 2008 08:51 AM #19
Rainer
20,002
Jared Wangsgard
Holladay, UT

We all have more time in this slow market. The question is what are we doing with the time and do we have the mindset to always be engaging in income generating activities.

Oct 16, 2008 10:59 PM #20
Ambassador
2,855,319
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Jared- I am not so sure about more time.  Everything seems to be taking more time to get the same amount of work done.  I have been working on a contract for a short sale for a week trying to satisfy lender.  UGH!

Oct 17, 2008 06:09 AM #21
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