Hi folks. Recently, I’ve read quite a few posts on ActiveRain from folks trying to decide whether or not to stay in the business. The posts don’t surprise me as I have been reading those types of posts on AR since I joined back in 2006. What surprises me are the comments from people who mention they are “hanging on waiting for things to get back to normal“. You know I hate to be the bearer of bad news but things will NEVER be “back to normal”.
Staying in the business may be the right decision. But if you are staying in to “hang on until the market changes” then you may be just hanging on for a very long time. People are going to be upside down on their mortgages for many, many years. Short Sales and REOs ARE the real estate market and will be for a long time. This current market IS normal.
So my advice is to NOT hang in there but to adapt. Learn new skills and learn how to make money in this current market. This is now the “normal” market. If you can do that then you will not “hang in there” you will not only survive but you will thrive and you will help a lot of people along the way.
So….the first thing you need to do is some market research. Log onto your MLS and start looking at data. You may actually be surprised at how many properties are closing in your area. Then once you find out how many properties are closing, and in what price range, find out who’s selling them and who’s buying them. Then all you have to do is figure how to get these Buyers and Sellers to use your services. It’s simple. It’s just not easy. It requires actual work. But it sure beats “hanging in there”!!! What say you?
***If you need some help just click on that little link down there and join the TTRealtyNetwork. It’s a work in progress but there is already a lot of free info over there that will help you in your business.
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