Plan C - have you made it yet?

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Real Estate Agent with Coastal Properties Group International

I've seen the media reports go from a housing upturn from 2008 to 2009. Ivy Zelman, award winning housing analyst, who corrected predicted the current housing slump, says prices may keep dropping through 2010 or 2011!

With less sales, and getting even less, and dropping prices, how have you modified your business plan? Have you been subsidizing lower income by taking from your reserves, savings, IRA or putting expenses on your credit card, expecting a turnaround soon?  What if it doesn't turn around until 2010 or 2011? By then you'll be past Plan A and Plan B - what is your Plan C?

 

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area.

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Sharon Simms
CIPS CRS CLHMS CRB RSPS
Coastal Properties Group
CHRISTIE'S International Real Estate
238 Beach Drive NE
St Petersburg, FL 33701
www.ssimms.com    www.coastalpgi.com   www.christiesrealestate.com
(727) 898-2582    Sharon@SimmsTeam.com

 

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Rainmaker
500,912
Christine Bohn
RE/MAX Professionals - Gainesville, FL
Realtor, Gainesville FL
Sharon:  I don't think I have a plan C, but you sure got me thinking.   I am still in the "swimming as fast as I can mode".  My brain tells me that I need 2x or 3x the number of listings I have "normally" had...that makes me swim faster.   My wishful thinking is that a slow market will run the "hobbiests" out of the real estate business so that long term professional Realtors serve the market with the best service.  Wishful thinking maybe?  NAR predicts the slow market will significantly reduce the membership, so we will see?  I look forward to reading other posts here. 
Oct 26, 2007 06:46 PM #1
Rainmaker
76,897
Randy "Lazarus" McAtee
Lazarus Realty - Fresno, CA
Owner/Broker, Lazarus Realty, Fresno California

Plan D.

Live in one of the many vacant houses on the market - or maybe even contact the owner and have them pay me to live in it because its less likely to get vandalized if I'm living it.

Go to the open houses where the Realtors are serving food to get my meals.

Solicit title officers promising them my business (if/when I get it) and remind them I could use some theater and car wash tickets in the mean time.

 

Oct 26, 2007 06:48 PM #2
Rainmaker
605,914
Sharon Simms
Coastal Properties Group International - Saint Petersburg, FL
St. Pete FL - CRS CIPS CLHMS RSPS

Christine - Glad you're thinking. Wishing for 2 or 3 times more listings may not be the answer - with every listing you have marketing expenses and you have communication responsibilities. Do you want those if the listing isn't priced to sell or if the sellers aren't appreciative of your professionalism? Some "hobby-ists" are leaving the business, others are devoting less and less time to the business. The problem with many organizations is that their budget is based on the number of members rather than the quality of members ....

 

Randy - it appears to me that many agents are already using Plan D. Several years ago I knew an agent who was known to "camp out" in his vacant listings. Perhaps an alternative would be to hire out as a Home Manager for a company like Show Homes.

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area. 

Oct 26, 2007 07:00 PM #3
Rainer
130,493
Billnulls Blog Florida Realty Professional
Charles Rutenberg Realty - Clearwater, FL
AHWD
Sharon - an excellent point that perhaps not too many are thinking about -
Oct 26, 2007 11:44 PM #4
Rainmaker
605,914
Sharon Simms
Coastal Properties Group International - Saint Petersburg, FL
St. Pete FL - CRS CIPS CLHMS RSPS
Barbara Jo - unfortunately, hiding our heads in the sand won't make the situation go away.
Oct 27, 2007 04:24 PM #5
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Rainmaker
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Sharon Simms

St. Pete FL - CRS CIPS CLHMS RSPS
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