Real Estate...It is What It is...Or is It?
Most folks in the real estate business have realized over the past 3 years that our business isn't what it used to be--the rules have changed and so have our individual business strategies. Those who are 'in-the-know' realize that in this everchanging real estate climate, we must no longer just 'keep up with the Joneses' but, rather stay at least a step ahead.
In recent weeks, my listing activity has picked up considerably--not so much in sales but, semi-serious buyers who are interested in getting that '50% off' deal that they've heard so much about. Their agents bemoan the fact that they can't seem to locate those deals for these clients and we eventually get off track to the 'how's your business?' conversation. I'm always surprised by so many agents saying things like, "Well, it's not what it used to be in '05!" or "I've certainly gotten alot of my own home projects accomplished these last two years!"
When I ask them what they're doing to survive, they seem to all have the same mindset, "It is what it is!" They truly feel that there's nothing that they can do about their own business; their company is going down the tubes and they're cleaning out their garage and painting their windows, adding on a screened porch and the like! They're perfectly comfortable in the 'It is what it is' mindset.
I truly don't mean to imply that I don't respect these agents at all; some of them are favorite agents with whom I've worked in the past and they just don't have any earthly idea how to get their businesses going again. They're not in 'research mode!' Of course, many of them aren't using the internet as most ActiveRain members are but, what is so surprising to me is that they've basically put their businesses on standby for a few years.
During their time on standby, lending has changed, the way we do business in general has even changed; many of us have become masters at short sales (or so we say!) and it seems that we're in a perpetual virtual classroom. How could one possibly catch up in this dynamic, ever-evolving business and learning environment?
Recently spending a few days at the hospital with my hubby, I've not been able to spend the time taking webinars or reading NEARLY as many AR posts (which is where I often hear about some of our industry changes) and I ALREADY feel a little out-of-the-loop! I cannot imagine playing catch-up after the changes during the last three years.
I often wonder if other non-real estate business owners just allow their businesses to be on 'stand-by' for a few years. I can't possibly imagine that a business owner would do just that.
Yes, in real estate...It is what it is...but, there's something very important that seems to have been forgotten: The only constant is change in our business.
Are you rolling with punches or lagging behind, waiting for a return to normalcy? If you're doing the latter, you may soon be lagging so far behind that you'll never catch up!