Question Details

Richard M. J…, Real Estate Pro in Sherman Oaks, CA

Realtors: How do you stay positive, when your income is down 80%? Please give ideas...

Asked by Richard M. Johnston, Sherman Oaks, CA Thu Oct 25, 2007

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Since I chose to pick on you today, may I suggest taking a community college psychology class. Sometimes, people have tunnel vision and understand how other people think. As Mansur says, "Focus on genuinely helping people with their problems. Put their needs above your own." From your other question asking if agents have gotten leads from posting here, you sound very selfish or greedy. Stress can highlight negative qualities that are not obvious when things are going well. You are in a downward spiral and you need to change your thinking to get out of it.

I apologize if I have offended you. We are here on this forum to learn. I hope you can learn from our criticism.

4 votes Thank Flag Link Thu Oct 25, 2007
Ruthless, Other/Just Looking in 60558
I'm actually having my best year of my 5 years as an agent. There as sooooooo many expired listings to go after, so many FSBOs, so many people who want to sell. It's a lot better than 2004 when there were NO listings to speak of. I'd rather a market like this. People need a good agent when it's tough to sell your house.
3 votes Thank Flag Link Thu Oct 25, 2007
Hi Richard,
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 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.
3 votes Thank Flag Link Thu Oct 25, 2007

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 helping others worse off than me.
3 votes Thank Flag Link Thu Oct 25, 2007

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
Web Reference:
1 vote Thank Flag Link Thu Oct 25, 2007
Greetings from Charlotte North Carolna, where we're appreciating 8%! However, the news isn't all good as I put myself in a situation where I came out of a hot sellers market in DC/Baltimore/Annapolis MD and moved to a steady buyers market. My average sales price dropped from $500k to $135k. The key to surviving that is cut expenses, increase income where possible (I moved to a company where I could receive 100% commissions), and grow your business as people will be leaving the business for the next "big" thing.

Changes are great because those that can't change will quit and those who do will be successful in the end
1 vote Thank Flag Link Thu Oct 25, 2007 production level and income is up over last year. September 2007 was actually my best single month EVER. The market here in Sacramento is full of micro-markets...some are doing well and some are not. I keep an upbeat attitude, stay on top of all the stats, tour lots of homes, etc.
Web Reference:
1 vote Thank Flag Link Thu Oct 25, 2007
Erin Stumpf, Real Estate Pro in Sacramento, CA
This time in the market place is when you should market and brand yourself while everyone else is in a slump. A positive attitude goes a long way. Send note cards out to your previous customers, buyers and sellers and ask for a referral. Actually my sales are better this year than last year.
1 vote Thank Flag Link Thu Oct 25, 2007
I stopped watching MSNBC and other media sources and just started selling houses.
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
0 votes Thank Flag Link Thu Oct 25, 2007
I agree stay positive! This is just a different market and you have to work differently. If you are running yourself like a business you will stay in business. Every business has its ups and downs.
0 votes Thank Flag Link Thu Oct 25, 2007
I completely agree with the earlier answer. Seek out the top producers in your office and dont just watch what they are doing, DO WHAT THEY ARE DOING...A positive mindset is also key. If you are focused on what a terrible market it is, it will be a terrible market. My attitude is that this is a great market with a lot of opportunity. I am gaining a lot more market share with agents dropping out left and right. This has helped me sell 9 homes this month! Yes, it is tough but the buyers and sellers are out there, you have to go find them. Track your time during the day every half hour. Write down what you did each half hour. Your results may surprise you. You should be spending 3-4 hours daily on income generating activities. Another way of looking at it is double your time on income generating activities versus what you were doing when your income was up 80%. Stay positive and dont let all the nay sayers drag you down. What you are focused on will become your reality! Good luck!
Web Reference:
0 votes Thank Flag Link Thu Oct 25, 2007
Richard, I'm having a much better year than last. I've been at this for 28+ years and the old axiom when the market gets tough the tough get going is never more true! Massive Action on your part is the key for changing your current income duldrums. This is an excellent time to expand your market as many are deciding this market is TOO tough!! Good! Let them go. As a friend told me the other day, "Mike, it's time to send the Xmas help home!" But you need to be in "lead generation" mode. If you're doing 3 hours of solid lead generation a day and still getting nowhere then perhaps it's time to hone your skills. The list of those you can seek business from our long and varied. I don't know which company you are with but I'm sure you've heard of all the real estate guru's out there who are thriving AND adjusting to this marketplace. You just can't keep the fact you are a Realtor a "secret"!! In our marketplace we've had a huge surge in Expired Listings. We still have FSBO's also who wish to save their shrinking equity. You need to sharpen your dialogues which will get you in front of these folks who need an honest, realistic Realtor who shows up, tells them the truth and is NOT attached to the results!!
Don’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 you’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 post—chances are he had help getting there!!
0 votes Thank Flag Link Thu Oct 25, 2007
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