As I watch the companies and individuals through this down cycle of any market, such as we are seeing recently in the real estate market, I see two types of folks...
1. Those espousing inaccurate but hopeful information while typically drowning in the same-old routines, and
2. Those that understand the cycle will take some time to complete and have embraced change, sometimes at great personal pain.
I like to collect insightful quotes (although I have to keep them in a file because I am not wired to remember and recite them very well). One quote that came to mind during all of this is from the book "God Emperor of Dune" by Frank Herbert...
"Although much sought after, the truth can be dangerous to the
seeker. Myths and reassuring lies are much easier to find and
believe. If you find a truth, even a temporary one, it can demand
that you make painful changes."
I see companies that have realized they must close their doors. I see other companies that have made major changes as they work to remain in business.
And yet I also see businesses that have the same bad customer service and same bad routine even as they lay off staff and deny their existence is at stake... or realize they are at risk but put 100% of the blame on the market and accept no responsibility for survival on themselves.
Which is your company?
I see real estate agents doing the same. Some are seeking employment in other industries. Others are sucking it up and "getting busy." Same goes for the mortgage folks, appraisors, title insurers, home inspectors and others.
Which are you? What did you change? Or is change in yourself not something you see as necessary?
Don't get me wrong, I'm all about a postive attitude. Big Time!! But it absolutely has to be accurate as well. To be positive but inaccurate hurts the credibility of the speaker and their industry.
The professionals that understand the cycles know there is money to be made in any market and will steer their clients correctly (but only if they are seen as a trusted adviser).
And it really can be a great time to buy property. We just bought a house and it was a great deal for us. We just did our homework and took our time to find the property that met our criteria. This deal would not have been as favorable for us 24 months ago. So there are advantages in this market IF you understand the market cycles. We actually decided to buy once the market slowed, not before.
Change is not bad even though by nature most of us resist it aggressively. But change is how we survive and have through the centuries. Today is no different.
Do you have to change? Of course not. Survival is not mandatory.
While painful, this change can be for the common good. The rampant runup of home prices simply was not sustainable. It's important to remember that real estate is cyclical.
Glenn, very insightful. I and Cogent are definitely we. Difficult times require difficult choices and usually that is precipitated by necessary change. Things have happened so fast, that it is obvious at leats to me the ones that have not taken the steps that are necessary to embrace those changes. Eductaing oneself is one of the key ingredients to addressing those changes. Kind of like water in a bowl. It conforms to the bowl and the onbjects that are added. So throw a pebble, the water moves, but stays with the bowl.
Good post
Bo
Excellent post, and very thoughtfully presented. thanks! You're right -- change is scary, but in change lies opportunity.
Vickie Nagy, Realtor, Specializing in San Ramon, Danville & the Tri-Valley! (Empire Realty Associates) Vickie, it is indeed easy for so many to forget the cycles when times are good... just as Summer comes and we can grow crops, so to will Winter arrive! Thanks for posting! G
Bo Hussung/ Title services in all 50 states (Cogent Closing Associates) Hi Bo! Great point about how fast things have happened. I suspect many are still in shock, thus denial along with it despite the realities! Thanks!! G
Li Read at Sea to Sky Premier Properties Hello Li! Thank you for your kind remarks... and yes, in change lies opportunity. We think that is exactly why this is such an exciting time for us! G
I like your message. It is a good reminder to all of us.
My business model changed about a year ago to ------ LAST MAN STANDING ...... it seems to be a reality now. I ask that question all the time. How can customer service be so bad in today's economy??? And it always is!
Excellent post!!
Thanks, Glen. We should all challenge ourselves to be transparent and real. Only then can we build our business and ourselves into the type of person we all want to be. Have a great day!
Paul
Zachry Feuer (Ashby Realty Group) Hi Zachery! Many Thanks! G
Lewis Poretz - Open Mortgage - FHA Expert Hello Lewis, yes it is amazing the disconnect by so many between doing good business and customer service. They don't get that their service IS their business. Thanks! G
Paul McFadden (Exact Financial Group) Paul, I love that you used the word "transparent." Great word to describe many great companies I see! Thanks!! G
I really liked your blog.
As a brand new real estate agent, I am really having to work hard, harder than I have ever worked before in any job, to survive and make it in this market. It is not an easy market but I think that if all agents would accept that the market has changed and is continuing to change, and then act accordingly, we would not see so many agents leaving, or so many people in the world feeling "sorry" for us. I know I personally have gotten many pity looks when people find out that I am trying to break into real estate.
But I know I will survive, I will learn a lot, and ultimately I think I will be a better person for my clients because of it.
Candice Reinke (Old Towne Realty) Candice, those that start in tough times and make it will have so much better habits than those that started in high times when they did not have to work as hard. Best of luck!!! G