I apologize if I have offended you. We are here on this forum to learn. I hope you can learn from our criticism.
I've been a real estate broker for 20 years and have worked in many kinds of markets (up, down, buyers, sellers). I own a company with two offices and 65 Realtors. I'm actually a little excited about this market. Here's why: for the past five years it's been too easy for agents, and too easy for Broker's to open up and run successful companies. Now, we'll see who the true professionals are. With the market so "hot" over the past few years, consumers were not really being serviced well or correctly by many agents. I think this coming "shake down" will be good in the long run for the industry and for the Realtors and companies that are experienced, educated and dedicated to this exciting profession. I can honestly tell you that in 20 years, through all types of markets, I have always excelled...you just have to work harder and be better than anyone else. When the market turns around again, you'll be ready.
Also, as a broker and business owner, I've positioned my company well going into this market. We're lean, very technologically savvy and have a positive outlook.
My income is down considerably over this time last year. How do I stay up? I help feed homeless people, teach a Bible study and coach other (new-be's) Realtors. How do I stay up...by helping others worse off than me.
What usually works for me and my office is to grab a 6 pack of Shiners, head to the conference room table and lay out so many lines that even Courtney Love would say "d*mn"! lmao
Obviously I am being humorous, but the reason for that is my way of saying to keep a "positive attitude"! I totally believe beyond ALL other solutions... the absolute hardest thing to success is your own ability to keep a positive attitude and keep moving forward. I use humor alot and I think that's what makes it so much easier to laugh off bad times and keep an eye on the fact that I KNOW it will always get better! - Helping others less fortunate is usually GREAT medicine! Prayer and Faith is also key!
I haven't been a Realtor for several years like some here, so I'm sure you'd get better and more in depth advise on tightening your bottom line, so I'll just end my answer w/ my attempt to quote one of the BEST basketball player to ever live!
"If I can accept the good things in life, then I most surely can also learn to accept the bad" - Michael Jordan
Changes are great because those that can't change will quit and those who do will be successful in the end
My revenue is not off 80%, I am off a little from last year, minor adjustment already done and I am back on track and will have a banner '08
Wealth and market share are re-distributed in off markets
Donâ€™t be afraid to ask for help. Call 5 of the top producers in your company and ask them how they are doing their business. If youâ€™re in a national franchise then call someone from a different market area. "Practice makes permanent! Perfect Practice makes perfect!" Go get 'em tiger! See you at the top! And remember, if you see a turtle sitting on a fence postâ€”chances are he had help getting there!!