By Dr. Cliff Baird
RISMEDIA, Nov. 24, 2008-As headlines and broadcasts portend to the gloom of our economy it is becoming an emotional struggle for many of us to continue to keep personal hope alive. No matter how we attempt to diminish the chaos it is alive and well in the psyche of the consuming public. It would not only be foolish of us to disregard these facts, it would be disastrous to do so. But, in the end, what does this all mean to you in your unique real estate marketplace?
Here are some of the facts that should dominate your thoughts. Why? Because thoughts are things! We are always moving in the direction of our thoughts. They tend take on a life form of their own and manage not only our emotions but ultimately our behavior.
Fact 1: Consumer confidence is hibernating but not dying!
“…with the remaining portion of the work force that is employed, this is a golden opportunity to buy. There are many favorable conditions in the making. Plentiful housing inventory on the market; mortgage rates are at a historic low; weak median home prices, and don’t forget the first-time buyer tax credit.”
Wannasiri Chompoopet, NAR Manager of Housing Statistics
Fact 2: Real estate values may have fallen dramatically but business has not collapsed!
In the most recent “Existing Home Sales” research report published by NAR and available on their website the following statistics are a much needed dose of positive reality.
A 6.2% increase in sales in September compared to previous month and a 3.8% increase compared to last year were reported. Also, the West region reported an 18.4^ increase over the previous month and an amazing 39.8& increase compared to the same month last year.
Fact 3: The market has definitely changed. But the market is what the market is and it is wonderful for buyers!
On Oct 24th Walter Molony a NAR research author wrote “Existing-home sales increased last month as buyers responded to improved housing affordability conditions, according to the National Association of Realtors®.
As you consider your future in real estate you have only two choices. You can focus on the international gloom and call it quits or you can choose to see it from a more personal perspective which is your marketplace.
In your market there will still be great agents doing a lot of business. They will not allow the headlines to distract them because they know that homes will still be bought and sold. There is plenty of current inventory on the market to meet the need of buyers looking to capitalize on value. Consumers are aware that the market will stabilize and equities will rebound. This is their opportunity. Therefore, this remains your opportunity!
Instead of dwelling on those things you cannot change you need to pay attention to the things you can change. For example, if you are obsessing about forecasting a positive future for our economy here is list of activities that will forecast your future.
How many total contacts did you make this week?
How many appointments did you make this week?
How many new listings did you get this week?
How many sales did you have this week?
How many referrals did you get this week?
How many total hours of prospecting did you do this week?
How many FSBO’S did you call this week?
How many JUST LISTED/JUST SOLD did you do this week?
Did you hold an Open House this week?
Did you write “Thank You” Notes to people this week?
Did you listen to skill or motivational CD’s this week?
Did you review sales skill-building techniques this week?
Did you attend your office sales meeting this week?
Did you tour the new listings this week?
Have you set your goals and plans for next week?
You probably cannot do a significant thing about the chaos in the world but you can certainly do these simple things to prevent the chaos in your world. Talk to your broker/manager and get yourself on an activity accountabily program.
Cliff Baird, MBA, PhD, has spent over 25 years coaching agents and managers to focus on business systems that lead to abundant success. He is the developer of The RealSTAR Online Recruiting System, which helps managers handle the recruiting process.