When the Market Gets Better

by Ed Pattermann on April 14, 2011

Ever hear a REALTOR® say that?

When the market gets better …

What they typically mean is when they don’t have short sales anymore, when it’s not so hard to get a loan, when there are more cash buyers, when properties easily appraise, when foreclosures decrease, when people buy land again, when buyers walk in the office again, and when the buyers really come back to the market.

The REALTOR® means when some combination of these things go back to the way they used to be, then their business will come back.

A couple of thoughts on that:

  • First of all, look around you. There ARE properties being bought and sold every day in your market. Are you part of that?
  • Second, it is ill advised to wait for something else to occur, something outside of your control, for your business to improve.

In the the words of the renowned TV celebrity psychologist Dr. Phil:

“If you need a miracle, be a miracle.”

I will often say that the best thing a REALTOR® can do today is to forget everything they know about how the business used to be and learn the new real estate business.

“In times of rapid change, experience is your worst enemy.” – John Paul Getty

We all know the real estate business has changed. And although we were always used to cyclical real estate markets, it may be that we are experiencing a complete shift in our business that may never be reversed.

So my advice – assume that the way the real estate business is today is the new norm.

And then do what it takes to excel at it.

That applies to what is selling, how it is sold, where buyers are, and what buyers are looking for in their REALTOR®.

“The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.” – Alvin Toffler

For those waiting for the market to get better, I suggest now is the time to unlearn, and then relearn, the business of real estate.

{ 1 comment… read it below or add one }

Duane Fouts April 15, 2011 at 6:33 am

Wonderful comments Ed.

I believe that the only constant is change, and with change comes the need to adapt.

I love the commercial that is out now, I believe from Dodge, with the tag line “Never Neutral!”

Which implies to me that we never stand still. We are either moving forwards or backwards. Since I have a choice, I am going to chose to move forward, unlearn and then relearn. This process is constant and never ending in my world.

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