Realtor Coaching. Real Estate training. What You Need To know Now.
There’s No Quick Fix In Sight. Long Hot Summer Ahead.
Benjamin Franklin once defined insanity as the person who repeats a behavior and expects to get a different result. If that’s the case, our industry, the entire real estate community is clinically insane.
When the money was rolling in, our industry didn’t have to do anything but cash checks. Now, all of us are seeing brokerages and agents abandoning the business in droves.
When the money was rolling in, everyone wanted to be real estate brokers. Heck, in California it seemed like every one had a license. When the market took a nose dive, it seems like everyone running like the wind in the other direction.
When the money was rolling in, Brokers and agents ran nonsense ads, had crappy websites, cold called, held open houses and made a killing. And now the market has changed - yep - insanity, it seems like all our fellow agents and brokers are doing the same things that didn’t work last week, last month, and all of last year thinking something is going to change.
Pay attention here because this is super important!
What we are witnessing today is a cycle in the real estate industry. The stages of the cycle are:
The Up Market
The Down Market
The Peak Market
The Bottom Market
From 1995 until today was the largest up market in history. The market peaked in 2005-2006 and then like a nuclear submarine under attack dove for the bottom.
Today, things are bad. But they are about to get worse. Here’s why.
Only the earliest of the bad credit loans have started to come due. The rest of the bad credit loans are scheduled to roll in for the rest of 2008 and 2009.
The government is now predicting that we may see the bottom of the depreciation curve in 2010…or maybe 2011.
Only then will the market truly hit bottom.
Its important that you understand that even after the market hits bottom it will most likely stay flat for years.
That’s when the investors will come back into the market like scavengers picking over a carcass. It isn’t going to be pretty…
Listen, if you don’t know how to do short sales yet…if you aren’t learning how to work with REOs…I have a question for you.
How will you stay in the business?
Its very realistic to believe that over 50% of the homes for sale in your market will be in pre-foreclosure (short sale) or already REO.
Its not difficult to learn how to work in this market and make a killing. But, you have to take action.
First step is to download our free 7 Part Agent Short Sale Secrets Crash Course.
Realtor coaching, real estate coaching, coaching for real estate agents, Realtor coaching classes, Tim and Julie Harris, Harris Real Estate University, Harris Realtor Coaching, Tim and Julie Realtor coaching.
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