2001 Sarasota Realtor vs. 2004 Sarasota Realtor vs. 2009 Sarasota Realtor

By
Real Estate Agent with DWELL Real Estate

Kelly has a been a Realtor since 2001 so she has sold real estate during a balanced market, a raging boom market and a real estate bust.

2001-2003 Sarasota Realtor

When Kelly started in real estate she was humble, eager to learn and hungry for success. Tired of the corporate world that she came from she wanted to work for herself while at the same time make a comfortable living. She loved the idea of not having to clock into a 9 to 5 job.

Since she had no experience as a Realtor Kelly went to work for a large national broker that offers training. Through training, reading books, a mentor and observing experienced Realtors Kelly learned all of the basics of how to be a successful Realtor. She purchased herself a new but modest four door American made sedan that could comfortably transport buyers, developed her sphere of influence, created and practiced her listing presentation, religiously went on caravan to learn the market, attended every sales meeting, held houses open at least two Sunday's a month, established a farm area and consistently touched them, created a website, called on FSBO's and expired listings and diligently pursued every lead.

Through her training, enthusiasm and hard work something great happened. She sold some houses. Kelly was not getting rich but she was doing something that she enjoyed and making a comfortable living. From 2001 to 2003 Kelly primarily stuck with the basics, continued to learn and remained humble.

2004 - 2005 Sarasota Realtor

The real estate market started to change in 2003. It was getting easier for Kelly to sell real estate. Her production went up and started to make more money. Kelly knew the market was getting better but she thought her experience and skills were the primary reason for the increase in sales.

In 2004 Kelly's production got even better. She got rid of that modest four door American made sedan and replaced it with a shiny brand new German made SUV. Her family vacations went from long weekends in a modest hotel to a 2 week vacation snow skiing in Vail, Colorado. Her Saturday night dinners went from Applebees to Flemings Steak House. Massages and facials became a regular event. Lunches went from eating at her desk to dining with friends at restaurants with white table cloths. She bought two investment properties. Some of her friends envied her so they got into real estate. Life was great.

Kelly had been in the business for a few years now and was seeing some great success. Perhaps she was a real estate expert. Kelly didn't touch her sphere of influence as often. "They know who I am", she thought to herself. She no longer felt the need to practice her listing presentations. "I know what I am doing", thought Kelly. Caravan? That is for beginners. Sales meetings? Who has time to listen to that drivel? Open houses? FSBO's? Expireds? Are you kidding? She was too good and successful for that stuff. Kelly wouldn't call every lead back. Just the best ones. After all, she was making a lot of money selling real estate.

2009 Sarasota Realtor

Times have changed for Kelly. The real estate market has been correcting for the last four years. She traded in her German made SUV for a more practical sedan. She has not been snow skiing since 2005. Her family vacations are made up of mostly long weekends within driving distance of her home. Dinners at Flemings Steak House are for anniversaries and birthdays. Saturday night dinners out are mostly at chain restaurants. Massages and facials are mostly a thing of the past. She still has lunch with her friends but they are more rare and affordable. Most of the time Kelly just eats left overs at her desk for lunch. She is upside down on the two investment homes that she bought five years ago. Her friends that became Realtors when times were good have given up.

Kelly's business has changed too. She is still producing but the transactions are harder to put together and more infrequent. Skill and experience are crucial in 2009. Kelly is touching her sphere more regularly than she was four years ago. "Those people are the lifeblood of my business", she thinks to herself. She has been going to the sales meetings and on caravan to stay on top of the market. "Market knowledge is important", she says.  Practicing listing presentations? Those keep her sharp. Open houses? She does them religiously. FSBO's? Expireds? She chases after them. Kelly is thankful for every lead she gets and diligently pursues them.

Kelly might not be rolling in the dough like she was in 2004/2005. But she is still selling, wiser and will be more prepared for the next boom time in real estate.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Frank D'Angelo 02/02/2009 01:14 PM
  2. D B 02/02/2009 02:11 PM
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Tags:
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Rainer
119,762
Sean Carroll
The Get Off Your A$$ Academy - Manhattan, NY
Real Estate Speaker and "Expert" Coach

excellent, excellent post. Too many Realtors raised their lifestyle to match their production, thinking that level would naturally continue. The more we sock away in savings, the more we can get back to basics, and be able to withstand the market corrections like this, and come out the other side a healthy business

Feb 03, 2009 01:21 AM #67
Rainer
20,075
Lillie Painia, ABR, NHC, TAHS
Lillie L. Painia, Tri-R Realty Group - Missouri City, TX

Mark, thanks for making us stop and think about the basics!

Feb 03, 2009 01:34 AM #68
Rainmaker
255,615
Kristi DeFazio
RE/MAX Advantage - Colorado Springs, CO
Colorado Springs Rea lEstate 719-459-5468

Mark- Nice post. I would love to see how Kelly is doing in 2012! I bet she will be rockin!

Feb 03, 2009 03:29 AM #69
Anonymous
Anonymous

Excellent blog! So true. It makes some of us remember that when times are slow, we have to work even harder to make soemthing happen.

Here's to the next boom!! 

Feb 03, 2009 05:32 AM #70
Rainmaker
109,355
Kim Darling
Keller Williams Westland Realty BRE# 01864461 - Fresno, CA
CRS,GRI, "Your Home Team" Fresno/Clovis Homes

 Sorry to repost this, but I was having trouble with AR and couldn't log in, left this comment last night, but it wasn't linked to me.  Hope I didn't break any rules by posting it from my Account, really it's me.

Great Post!!! Funny to read about myself.  I started in '01 and have pretty much gone through the same cycle as Kelly.  It's been back to basics for me and I can really tell it's going to pay off soon.  I am making it a point everyday to make connections with people and prospect.  I am feeling rejuvenated and excited about Real Estate again.  It's a good time to be in this business and it's up to us to get the information out to the public about the opportunities out there.  Thanks, for the post, it made me smile!!!!

 

02/02/2009 08:50 PM by Kim Darling

Feb 03, 2009 05:33 AM #71
Rainer
2,242
Amanda Harstine
Century 21 Integrity Real Estate Group - Syracuse, IN

Great points. I started real estate sales in 2000. it has been a gravy train ride to the top, but we are defintely back to basics which can be a hard transition, but defintely doable!

Feb 03, 2009 05:58 AM #72
Rainmaker
507,448
Jerry Murphy, CRS, SRES
Long Realty West Valley - Anthem, AZ
Anthem, Phoenix, and Scottsdale AZ Real Estate

H Marc.  I came into the market right at the peak and have followed it down.  Although I've learned some very tough lessons I've stuck it our where a lot of other Realtors have fallen out.  In hindsight, I'm kind of glad that I did not get to enjoy the boom market.  When I started I knew no one in the area, save my parents.  So I really had to work hard to generate business.  I still do.  Even though the deals are not as plentiful as I would like I know that when the market turns up again all this hard work and the work ethic I have developed is going to pay off in spades.  Sometimes it's best to experience tough times first.  It humbles you, gives you perspective, and makes you appreciate the good times that much more.  Good post. Best of luck.

Feb 03, 2009 06:57 AM #73
Rainmaker
153,944
Kathy Opatka
RE/MAX CROSSROADS - Ocean City, MD
Serving Ocean City, MD, & The Delaware Beaches

Marc,

There are lots of Kellys out there and lots of us who have been in the business FOREVER!.... No matter, it's still the basics that make the money!

Thanks,

Kathy Opatka Re/Max OCEAN CITY,MARYLAND

Feb 03, 2009 07:22 AM #74
Rainer
111,953
Kris Kombrink ~ The Kombrink Team
RE/MAX Excels - Chicago's Western Suburbs - Geneva, IL

Great post, Marc, sounds like a lot of Realtors I know.  It's easy, when you become succesful, to close your mind to new ideas and just chug along.  You need to always be learning and always be chasing...

Feb 03, 2009 08:17 AM #75
Rainmaker
503,046
Lora "Leah" Stern 914-772-4528
Coldwell Banker, 170 N Main Street, New City NY 10956 - New City, NY
Real Estate Salesperson

I never knew any of the previous markets that you speak of.  I started in this challenging market that justs seems to get more challenging with time.  Business has never just come to me - I've had to work hard to make it happen but luckily,I also haven't had a chance to forget the basics.  It's a continual learning curbe and kudos to Activerain for helping on that end!

Feb 03, 2009 08:58 AM #76
Rainmaker
54,790
Stefany Blount
MRG.NYC - New York, NY
Please, call me Stef.

Great post!  A lot of good advice building on the past.

Thank you!

Stef

Feb 03, 2009 10:59 AM #77
Rainmaker
653,363
Christine O'Shea
Christine E O'Shea Broker-Associate - Naples, FL

So true, our stats just came out and there are a lot of Kelly's out there.

Feb 03, 2009 12:36 PM #78
Rainmaker
50,400
Dustin McClure
Mossy Oak Properties Outdoor Realty - Mooresville, NC

Thanks for the post!

Feb 03, 2009 12:57 PM #79
Rainer
36,094
Jennifer Mosley
OnlineHomes4you - Cumberland, NC
OnlineHomes4you

Great Post I enjoyed reading and loved the cartoon :)

Feb 03, 2009 01:00 PM #80
Rainmaker
135,700
Paul Francis
Francis Group Real Estate - Las Vegas, NV
Las Vegas Real Estate Agent - Summerlin Homes

Nice story... now sum it all up with everybody making money during the boom and apply it to what it means to the economy today and a lot is explained...

Working hard is the way out of it... not spending your way out of it. Wish the people in D.C. would catch on...

Nice simple story with a big meaning to it...

Feb 03, 2009 01:59 PM #81
Rainmaker
148,042
Hawaii homes
Century 21 iProperties Hawaii - Honolulu, HI

What goes down will go up!

Feb 03, 2009 02:19 PM #83
Rainmaker
325,871
Esko Kiuru
Bethesda, MD

Marc,

This real estate and mortgage mess is a great lesson to everybody in the business. It really is forcing us to learn the basics how to operate successfully.

Feb 03, 2009 04:52 PM #84
Rainmaker
145,306
TheMillsTeam YourSebringRealtors
Advantage Realty #1 - Sebring, FL
863-212-5441

I started when the market took a nose dive. I don't know any better than chasing business and cherishing every lead, cold, warm or hot. I'm glad I had the opportunity to learn the biz the way I did and I understand that knowing the basics is vital. However, I think it's not just about knowing how to navigate a downmarket, it's also about being financially smart during the boom: pay cash for your German SUV so you don't have payments when the market turns. Make updates to your home so you don't have to worry about a leaking roof when commission checks aren't coming in. I can't for the life of me understand how so many agents made a fortune but have nothing to show for now.

Feb 03, 2009 10:01 PM #85
Rainmaker
826,134
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Marc,

Kelly has lots of Kompany!!! LOL, Thanks,   Fran

Feb 04, 2009 04:54 AM #86
Rainmaker
750,417
Robert Hammerstein
Keller Williams Valley Realty - Hillsdale, NJ
Bergen County NJ Real Estate

Marc -  Lots and Lots of Kompany..:-) Excellent post! There are many of us Kelly's out there. Thanks for posting this.

Feb 11, 2009 12:56 PM #87
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Marc Rasmussen

Sarasota Real Estate
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