The Realities of Today's Less-than-Vibrant Real Estate Market

Education & Training with Sell with Soul

I've been thinking (and writing) a lot lately about the realities of today's real estate market. While I'd love to be all Rah-Rah and Positive and Enthusiastic and Optimistic, I just don't think such emotions are necessarily warranted in many parts of the country. I'm lucky to work in a market (Denver) where real estate IS moving - there ARE buyers; there ARE sellers and there IS money to be made by the real estate community. In fact, I've even played in a few bidding war games the last several months for retail properties (that is, not underpriced REO's).

But that doesn't mean I'm not worried or stressed, and so is everyone else I know whose livelihood depends on real estate closings. And I can't even imagine what it must be like to work in markets like Detroit, Tampa or Phoenix. Or, for that matter, to be a brand new, green bean rookie agent.

Fact is, it's tough out there. Not impossible, but tough.

Don't get me wrong, I think this will pass and that there will be a tremendous backlog of business unleashed upon the agents who are still around. The Good Old Days will very likely return to some degree, hopefully sooner than later. But the challenge is to still BE around six months, a year, two years from now when those days are here again.

So, in my own self-interest, I've been examining some of my pet teachings to see if they still apply "as written" in this less-than-vibrant economy. I'm willing to make some changes to my business model in response to changing market conditions. But what changes exactly?

That'll be the theme of this week's blogs! Stay tuned and Happy Monday!





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Comments 56 New Comment

Marc Rasmussen
Sarasota Real Estate
DWELL Real Estate

I know how you feel Jennifer. It is tough to be positive when things are bad. Perserverence is the name of the game today.

December 08, 2008 09:04 PM
Monica Walters
Weichert, Realtors

Thanks for sharing, and more importantly thanks for being REAL! Looking forward to your next post!

December 08, 2008 10:15 PM
TIM MONCRIEF #1 KW Grp '07-'12; AUSTIN-nwmc
Four Points Specialist, #AustinRealEstate
Keller Williams Realty/Bartlett Real Estate Group

Read Shift  by Gary Keller.  You will see that there is a direct correlation of the amount of potential commissions on the market and the number of agents at any given the top of the market and at the bottom of the market.  That is why it is actually easier to gain more market share at the bottom of the market.  i.e. This is your time to shine to dominate the market when all turns your fellow competitors are dropping like flies.

December 08, 2008 11:31 PM
Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant
Real Skillz-Clear Marketing for Your Real Estate Vision

Jennifer- I too, like TLW, hope the good old days in that same way don't return.  Too much falsehood, too many bloated transactions, I saw them come right thru my door and to the closing table.  I shook my head, sometimes I turned the business away, in the end, I wondered if I really did enough.

Now we are all learning.  What I take away is that it is good that everyone is waking up.  It hurts but it's a big step in the right direction.  I choose to be positive, but that is what propels me to work smarter.  The alternative stinks.

December 09, 2008 07:57 AM
Patricia Beck
Colorado Springs Realty
RE/MAX Properties, Inc., GRI, CDPE

I think it will continue to be difficult for agents who depend on this business for their sole income but it is possible to make it through this tough time.  Looking forward to your posts...

December 09, 2008 08:03 AM

Jennifer Allan-Hagedorn

Author of Sell with Soul
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