One thing that is a constant in our lives is change. The real estate business has changed dramatically at least four times in the past 28 years I have been in business. For many, change is a scary thing. It takes us out of our comfort zone and many have a very hard time dealing with it. Change is part of our personal lives and part of our business world and always will be.
Here are some things to think about when it comes to transitioning into all the changes of this lifetime.
Let go of the old What has worked in the past does not work today. A good example of this is that what worked just 2 years ago in the real estate market is not working today in many parts of the country. Can you think of anything in your personal life or business life that has not changed in some way over the past decade? Just because something worked 10 years ago does not mean it will work today.
Use your imagination and think of what can be. Those Realtors that started implementing ideas to take advantage of the Short Sale and Foreclosure market are doing quite well in this current market. In our area, those that sell commercial real estate and farm land are also having a banner year.
Anticipate changes before they happen. In our area, many Realtors, mortgage lenders, title company personnel, builders and developers failed because they did not anticipate the market. All the signs were there but many simply ignored the signs and have paid dearly for ignoring those signs.
Many will not change but say they embrace change. Yes, I know many people that will tell you they embrace change but if you look at their lives they don't practice what they are saying. We may say that we embrace change and are open to it but what do our results say?
Realize that nothing lasts forever and either does this current real estate market. The old saying "This too shall pass" is oh so very true. In my market Short Sales and Foreclosures will be a reality for at least the next 2-3 years. I positioned myself to take advantage of the current real estate market but I know it will change in 2-3 years and I am already planning for that change and have a plan to transition into the next market I am anticipating.
I cannot imagine a world without change. It gives us opportunity to grow and expand our minds and offers us opportunities that may never have existed in the past. I have a strong belief that "Opportunities exist in every market". I cannot look back on any phase of my real estate career where that has not been the case.
I can embrace change and know that it is real or close my mind to all the possibilities that exist.
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Posted By: George Tallabas - Boise Idaho Real Estate Agent - Associate Broker
with RE/MAX Advantage, Canyon Counties #1 Brokerage in sales and listings
specializing in Boise Idaho Real Estate and Southwest Idaho Real Estate.
THere is no doubt been a great deal of change. The old paradigms are no long applicable and new paradigms are taking there place.
We have to be more fluid in our lives and our thinking and especially our outlook as we evolve. I have referred to this as a re-birthing of the industry. Not necessarily better, but by necessity different. Live is a process of evolutionary changes and so are most industries and in fact most aspects of life.
But here again, they are not necessarily better. With the new skill sets we have and are learning, for those of that are not newer in the industry, it is not always easy. We build our systems and we build our processes and for a while they work. Then it states again. But we learned ( moistly because of constant market changes ) to be more chameleon like. Changing to the color of the day,lol
What we have as a constant is our Code Of Ethics ( yes it is evolving as well but more of an accommodation than change) but not really changed, it is perhaps modified to account for the changes in the field. But we have that and we have our Preamble, Under all is the Land. So while our thing and our actions has to change, we can remain secure knowing that our Ethics must be a constant.
An excellent post. One that inspires a comment like mine,:-)
William - Well said and thank you for sharing your thoughts. Have a wonderful evening.
George, your blog on the inevitability of change and the necessity to be flexible and adapt really speaks to me. In particular, your encouraging all of us to anticipate change is great advice.
William, your reminder of the constancy of our professional Code of Ethics is both comforting and very a propos.
Thank you!
Roseann - I'm glad you liked the post and the anticipation of market changes is so vital. There were so many signs in 2006 that our market was changing and far too many ignored the change and are paying dealry for it. Have a great evening.
Anticipating the market and changing the way we do business is so key to our success. I talk to so many Realtors here in my area who STILL are not anticipating the market and think in a couple of months it will be back to the way it was two years ago. And, sadly, they will probably not survive the current market. Thanks for the post, George, and the reminder of how important it is for us to be flexible and change with the market.
Barb - You are so right. I STILL have Realtors in my own office that think the market is going back to what it was prior to the correction and are just living in La La land. They are suffering financially and just won't do the things they need to do to flourish in this market. Thanks for stopping by and have a great evening.
Change is God's way of keeping our senses sharp!
One sure thing is: If we don't keep up with change, progress will pass us by.
George this is so true! I work with a builder that is very smart about the RE market. In the boom years for residential RE, he started getting into commercial RE because he knew that nothing lasts forever. Then when the market changed, he wasn't left with 50 homes to sell. Looking ahead is the only way to stay on top! Thanks for your insight!
Change is not a bad thing, it is not a good thing. It is reality! For those of us who embrace it we will be around a long time.
George- well written and poignant. One can either be reactive or proactive. Those who choose to be reactive expend far more energy and yield lesser results than their proactive counterparts.
Nicely done George! Good luck and Sell Well!
Thanks for great advice. If we do not change with the times we may be left behind.
Hey George...How right you are...and to us, change is a part of what makes this business what it is and continues to keep challenging us to learn and to grow...how boring it would be if each season, transaction, etc. were all the same....and the Rain can help you to learn about the changes, how to adapt and grow...Thank You !
George, I know some Realtors who were good Realtors, not great but good. They jumped on the short sale, forclosure train and are now top agents in their area. So yes, we have to change and grow and adapt to the current market. You have done it and others and are fine. Working differently but still producing. My best...
George, you always have to have an open mind. We all need to adapter to over come challenges of today. Those who do will raise to the top.
Morning George,
Thanks for taking the time to write this thought provoking post. Reflection may be a better reference. Change is a given, if we aren't open to it we won't survive. That is the basic fact of life.
Great post George!.....a glass half full position and definitely inspiring.....if I may be so bold to add one point however....Do let's of research about your area and keep up with the trends in where the shifts in the market going....then as you put it, "embrace the change"
Thank you...have a happy day!
We definitely need to change and adapt, but also remain true to our overall "plan" for our business. For example, I don't want to list short sale/foreclosure properties (too much misery surrounding them - it would make me too sad) so I won't. I may miss out on some money making opportunities, but that's okay. What is and has been changing is how I advertise, market, prospect, present myself...just about every area of my business has undergone some changes over the past few years.
What an inspirational post, George. Change is reality, and to ignore it or pretend it does not happen is foolish. The manner in which you respond to it, as you so aptly point out, is the secret to coping with it successfully.
Jeff
Great perspective and really the only one to have! Well said!
Thank you all for your wonderful comments whether you agree or not. I just want everyone to open their minds and use every fiber in them to be creative and agressive. All my best.
The ability to anticipate change is key to surviving this industry. Many just refuse to think much about what used to come so easily for them and sadly, they are being left by the wayside
"Realize that nothing lasts forever and either does this current real estate market."
Couldn't agree more... Thank you.
Hi George - Good advice as those who do not go with the flow will surely be left in the dust. The internet is a good example of that. Some agents have embraced the internet and others have not. We both know how important it is :)
Change can be fun and exciting, a continual challenge that pushes us to be better at what we do every day. . .I'd rather be ahead of the curve than chasing it!
George,
I'm counting on you---'THIS TOO SHALL PASS"
It can't be soon enough.
Terrific post! Thanks for those good thoughts!
Li
Li Read, RE/MAX Salt Spring, B.C., Canada
liread33@gmail.com
Every time I have embraced change, it has moved me foward. It is just too easy to get stuck in routines -- I love change and it always takes me on a new adventure.
Great post on change. It would be interesting to document all the factors that could possibly affect the Real Estate profession (such as evolving technology, mortgage rates and practices, consumer behavior, legislation, baby boomers, etc). I would bet it would be a very long list. The secret would be how do we anticipate the change to not only be prepared for it but actually influence/drive the change.
George, this is such a great post! You are so right! Pretty please, can you give it to us Optimists too?
Thank you very much!
George - Great advise. I got into this business after 26 years as an information technology manager. I thought the real estate industry was due for changes. Even I was surprised at how much, and the impact it would have.
Great post and so many good points. Thank you for sharing, this will be another post I print and hang on my bulletin board.
Thanks everyone for your wonderful comments. Sorry I could not respond to everyone. My daughter gave birth to her first child and my first grandchild! She is gorgeous!
CONGRATULATIONS GEORGE! I AM SO HAPPY FOR YOU!
MAY GOD BLESS YOUR NEW BABY GIRL, GRANDPA!
You will have to do a separate post with photos of Miss Alexis Page. That way your AR family can see your biological family! LOL
Amazing that such a small bundle can cause so many adults to just melt into a puddle.
Congratulations again, my friend. I know you are a proud Grampa!
Hi George....as always Great post...I jumped and changed my listing presentation to show Sellers the advantage of my success selling homes quickly with Multiple offers with my listings selling for more than the list price. I recognized change, Buyers are comparative shoppers and want a deal, so when inventory jumped up to an all time high, you need an edge with Sellers, and pricing is very important here along with effective online marketing like Blogging here in AR, which then puts you in a great position with search terms with Google.
Thanks for sharing George.
Hi George,
Every market offers opportunities. We just need to be able embrace change to take advantage of them.
Thank you Mirela, Fred & Susan....thanks for being patient with me. I have been too involved with my new gorgeous grandaugher!
George, great post and William's comments were OH so appropriate. I recently joined AR just for that reason. I've been in Real Estate just over 15 years and have caught myself getting stuck in a rut. With the HUGE change in our market this year, it has really made me think about what and WHY??? I am doing this.
I really hope that I can grow myself as I learn this whole "blogging thing" :-)
Connie - Good morning and thank you for sharing your thoughts. Good luck to you.
Great post! You are right. We need to improvise to overcome. Everything changes.
Jennifer - Thank you and so very true!
We all fear change in some way or another, but it does give us an opportunity to grow. Embracing it is the only way to do so, and even if you don't embrace it, it will still happen! Great post!
Hi George,
Very good point. It's probably a bit of an exaggeration but I tell my clients that, in this business, the only constant is change! They usually laugh and agree. :)
P.S. CONGRATS on becoming a grandfather! All my friends who have become grandparents tell me that's the best part of life.
Suzanne - So very true...thank you
Not yet Licensed - Thank you very much! I am still on cloud 9!
My dad hammered that idea home my whole life...the only constant is change...and your post illuminated that idea for me in my professional life. Thanks for getting my mind working in the right direction.
George this is one of the best posts I have read this week, wow. Change is wonderful because it causes us to learn something new and better ourselves. You are right, there are always opportunities out there...they just have to be discovered! Congrats on the featured and excellent post!
It is the one thing that you can bet 100% on. Change will happen
Jon - Your Dad was right on!
Patricia - Thank you my friend.
Casey - Very true...thanks
GREAT POST,
Today is my first day in the world of blogging. In my first blogg I state one of my beliefs is " You don't know till you try". Today I tried something totaly new! Blogging.
I'm tickeled to have joined the world of blogging and can see there are far more benifits then I anticipated.
I'm from Spokane Washington and all my realitves live in Sandpoint Idaho. So the background pictures you have made my day along with your blogg.
Thanks, keep them Coming!
Seana Sorensen
270-302-5173
Owensboro Kentucky.
By the way I'm never to busy for your referrals.
Seana - Thank you and "Welcome to the world of blogging"
Hi George,
This is awesome! No wonder we're friends! Very good writing and thought invested in this one and just look at all the reponses you've gotten.
Very good for a New Year!
Tamara
Tamara - hank you my friend. I am truly blessed to have followers!