One thing I have noticed in my office and in my market area recently is the number of Realtors that are living a high stress life and those that are not only stress-free but truly at peace whether or not they are experiencing a good financial year or not. The following is my humble opinion of how have more of a stress-free Real Estate career.
Being honest and up front with clients can pay all parties back ten-fold. Now that the real estate market has changed there is less "Tell them what they want to hear" going on from Realtors but some of this still takes place and I have recently witnessed it. For some reason some Realtors have a fear of telling clients and mostly sellers true and accurate facts. Some Realtors want so much to "Get the listing" or "Close the deal" that they will sometimes tell clients "What they want to hear". This never works in any market. Honesty and integrity win out in any market.
"If you say you are going to do something, please do it". The best way to build clientele is to be a person of integrity. By this I mean if we say we are going to do something whether it has to do with marketing, communication, etc. "Just do it". This seems a "No Brainier" but you would be surprised how many complaints I receive from buyers and sellers that feel they were really let down by a Realtor. Be a person of integrity and watch your world change.
"Please call me" is the cry of every seller. The number 1 complaint sellers have had against Realtors for the 27+ years I have been in real estate is that we don't call them enough. Realtors seem to either not take this seriously or fearful of calling with current market conditions. "What do I say to them?" is common. Calling sellers weekly just to let them know we care will pay more dividends than you can ever imagine. We will create more trust and sales adjustments will be easier to ask for. I make a lot of calls every day and I have never sent out a postcard or newsletter. I receive more referrals than nearly anyone in my marketplace.
Stop predicting markets. How many times have people asked you for your opinion of what is going to happen with home prices? I don't have enough toes and fingers to count the times I have been asked. I simply tell people that "There are too many factors to predict markets and every market has cycles". I actually heard a Realtor tell 5 men in business suits in 2005 that the current market of 2005 was going to last for 10 years. This Realtor was selling this group of investors a lot of development land. One of these investors has recently threatened a law suit against this Realtor that made the statement. It is suicidal for any Realtor to wear the hat of an economist when asked about the future of real estate markets.
We have to know when to walk away. I have seen numerous Realtors spend so much time on a "High maintenance seller or buyer" to the point they are working for free weeks before closing takes place. The best gauge of knowing when to walk away is to go with your "gut feeling". High maintenance clients don't only cost you money but your health as well. Sometimes referring a client to an associate is beneficial to all parties. This is tougher to do in a slow real estate market but the smart Realtor knows when they need to walk away from a transaction and refer it to someone in the office.
No real estate market lasts forever. There is no guarantee the market we have today is going to be the same market we have 6 months, a year or two years from now and nothing lasts forever. The old "Saving for a rainy" day is something we all heard as children but is one of the truest things I have ever heard. I can't tell you how many young Realtors are in trouble in our area because they went out and purchased hummers, 3,000 square foot homes, boats, motorcycles, etc. and got into incredible debt in their 20's. Some have filed bankruptcies and others are hanging on by a thin thread. On the other hand, I know some Realtors that could go 2-3 years without selling another home and would still be solvent. No market lasts forever and we need to be prepared for every market to change including the one of 2005 and the one we are in today. Investing our money wisely instead of creating huge debt will see us through tough times.
Keep doing the right things and good things will come. I can't tell you how many Realtors have come and gone in my market place but the numbers are astonishing. The ones that just "Keep doing the right things" day in and day out and keep everything in proper focus are doing just fine in this market. There is no website, marketing plans or technology that can take the place of good sound basic business fundamentals and common sense. These basic fundamentals worked 50 years ago and still work today.
Opportunities exist in every market. The nineties through 2005 benefited sellers and the current market is benefiting buyers. There is no such thing as a "Real Estate Bubble". Bubbles are for bubble baths. Every market has cycles and different cycles benefit different people. The media wants to convince you and I that things are bad. They are not bad. Buyers are in heaven and smart sellers gained a lot of equity in their homes through 2005. Those that purchased in 2006 & 2007 simply have to accept price adjustments. It is up to us to promote the benefits of every market to those it benefits.
Real estate is the best career hands down
Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes