The real estate market is presently in the most difficult and scary times that it has experienced in many, many years. Most of the hobbyists have already departed real estate and since most of the local boards begin their fiscal year in October, without doubt a new batch of licensees will not renew. I know that many of the agents who have been in real estate for years full time are out looking for ways in which to support their families, and you can hardly blame them.
For many in a market like this it can be very discouraging, as they watch deal after deal not get approved by the lenders, and that’s lenders on both sides due to the many short sales needing approval and the buyers lender changing the terms at the last moment. It is during these slow times that managers need to encourage, coach and motivate their people to stay focused. It is also a great time for agents to go out and continue their education by earning their designations. Better to do it now than when the market changes and you get busy again.
By getting trained and earning those designations it will keep you committed and encouraged during these slow times, and don’t forget you will be ahead of the curve when the market breaks. I had lunch with an agent last week from another company and he shared with me that business was down and he was slower than usual and that the deals he used to turn away, he now works. He has the attitude of, every little bit helps and even though his income was down he was on track to earn $300,000 this year. How many of us would like to earn 300K in a bad year? The pro’s never get too far off course because through training and like a skilled navigator they always know where they should be, so it is much easier for them to stay on course.
Today more than ever regardless of your past track records of success not only do you need to be a skilled navigator, you need to have a skilled navigator as your manager or broker who can coach you to do the right things and check to make sure you have not wondered too far off course and end up on the reef.
For many in a market like this it can be very discouraging, as they watch deal after deal not get approved by the lenders, and that’s lenders on both sides due to the many short sales needing approval and the buyers lender changing the terms at the last moment. It is during these slow times that managers need to encourage, coach and motivate their people to stay focused. It is also a great time for agents to go out and continue their education by earning their designations. Better to do it now than when the market changes and you get busy again.
By getting trained and earning those designations it will keep you committed and encouraged during these slow times, and don’t forget you will be ahead of the curve when the market breaks. I had lunch with an agent last week from another company and he shared with me that business was down and he was slower than usual and that the deals he used to turn away, he now works. He has the attitude of, every little bit helps and even though his income was down he was on track to earn $300,000 this year. How many of us would like to earn 300K in a bad year? The pro’s never get too far off course because through training and like a skilled navigator they always know where they should be, so it is much easier for them to stay on course.
Today more than ever regardless of your past track records of success not only do you need to be a skilled navigator, you need to have a skilled navigator as your manager or broker who can coach you to do the right things and check to make sure you have not wondered too far off course and end up on the reef.
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