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Home » Real Estate Coaching & Market News

Fellow Realtors(c)…Get Out While Your Still Can..Yes, Quit Real Estate.

Submitted by Tim Harris on February 25, 2008 – 5:55 amOne Comment | Popularity: 1% [?]

Every day we are in contact with tens of thousands of agents from across the country. Through our Free Daily Coaching Call, our blog and of course the agents who are enrolled in a Harris Real Estate University Class or Coaching Program.

Seth Godin Was Right:  There is one thing has become crystal clear to Julie and myself. Most agents simply won’t make it in real estate and should quit before its too late. I am serious. Save the $1000-$2000 you were about to spend to re-new your license. Don’t ruin your credit, lose your house and in some cases destroy your family over the idea that you have to ‘be in real estate’. If you are going or are broke…quit. There is absolutely nothing wrong with that.

Its a fact that a majority of agents simply won’t or in some cases can’t adapt to this market. These agents should quit and….quit now.

Get a job, do something else. Believe it or not there are more things to life than being a real estate agent. Heck, you might find something
you like doing for a living more than selling real estate.

I realize that this may be the first time you have come across anyone telling you this. Its perfectly OK and normal
to change your career path. Don’t feel bad about this. At least you tried. If you have a huge feeling of relief that someone
has finally told you the truth, my pleasure.

The rest of this post if for the Agents who have decided to stay in the real estate industry.

For these agents I am now going to share with you a secret…
This Is Not A Buyers Market…The Is Not A Sellers Market…This IS An Agents Market. YES, This is finally and Agents Market…YOUR Market.
There has never been and probably never will be a better time for YOU to succeed in real estate. Think I am nuts? Read on.

  1. The number of agents is dropping dramatically. It’s a safe guess that the number of dues paying Realtors (c) will be reduced by
    at least 50% over the next 24 months. That means fewer agents chasing what is going to be more transactions.
  2. Become the ‘Calm in the storm’. Lets face it. People are scared. Homeowners, agents, brokers…heck, it seems that nearly everyone
    is drowning in fear. You can be the calm in the storm. You need to become the expert on your specific housing market. Do whatever it
    takes to broadcast to your market your newly found expert status. Be the go to agent in your market.
  3. Tell the world you are the go-to expert…starting with a thin slice of it. We have a coaching client who established his ‘Geographic Farm’ during a previous housing recession. He started his farm when the area home values were falling and other agents were quiting the business. The area he started to farm was previously dominated by other agents. They didn’t adapt to the new market conditions, failed and he was there to grab market share. This happened
    in the early 80’s and to this day he is the number one agent in that ‘Geographic Farm’.
  4. Students of HREU know not to make this fatal and common mistake. Not calling their centers of influence and past clients. According to
    The National Association Of Realtors 91% of all Realtors never contact the buyer or the seller of a home after the closing. I am not talking
    about a ‘closing gift’. Actually calling your past clients, your centers of influence and telling them what is really going on in your local housing
    market. If you don’t know what to say or how to say it…learn the skills.
  5. Learn The Skills Necessary For This Market. Listen, I wont take cheap shots. But, the idea of ‘getting back to the basics’  (the mantra of many of the old
    school real estate gurus) when the very basics themselves have changed is a guaranteed recipe for failure. You know that virtually everything about this
    market has changed. Its simply makes sense that you too must change your skill set. Learn the new skills, the new techniques that are required for this market.
  6. Change your mindset. Focus on helping others. The old school way of thinking of real estate as a ‘transactions based business’ is dead. You know this. In the previous real estate bubble market the goal was more-more-more. Buyers, sellers and agents were attracted to the real estate business because owning a home seemed to many like a winning lottery ticket. This fire turned into an intense blaze as lender standards became predicated on almost nothing. It seemed like everyone was a ‘real estate investor’.

Now, everything has changed. Owning a home is becoming a privilege again and no longer seen as a right. Focus your intention on helping people. Start everyday with the mindset that you are here to serve others. That’s a HUGE leap from the previous mindset that was largely fear and ego based. This business is about serving others not how many units you did or didn’t do. 

Remember, this is truly an agents market. There has never been a time when buyers and sellers have needed the services of a skilled real estate agent. Its now your job to obtain those skills, live the mindset of this market.

Popularity: 1% [?]

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One Comment »

  • I found your site on google blog search and read a few of your other posts. Keep up the good work. Just added your RSS feed to my feed reader. Look forward to reading more from you.

    - Randy Nichols.

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