One of my favorite cousins and clients is a handsome young Secret Service agent. An important part of his defensive driving training was learning to do a 180 degree turn in every imaginable vehicle, from a Hummer to a stretch limousine. And I've been thinking that this is a good skill for real estate professionals to acquire.
Back in the 1980's when I got into real estate, it was a strong buyers' market. And yet my manager was stressing ways to get lots of listings. And during that first year, I pretty much ignored her advice, and stressed finding lots of buyers - a strategy that made my rookie year amazing.
This was both good and bad. I honed my buyers market skills, and while I had listings (four were big ones), it was the buyer end of the business that I really loved and focused on. And while the listings all sold, I made a lot more money selling other houses to the buyers I met from marketing these properties.
Then, the market shifted. In the late 80's we began to see multiple offers, and working with buyers got to be a challenge. And all of those agents who spent the buyers' market farming and establishing themselves as listing agents made out like bandits. Until, that is, things changed again.
My second strong buyers' market began as buyer brokerage took off in this area. Once again, I was in Realtor Heaven, at least for a few years. Then during the period between 1998 at 2005, the listing agents were in the driver's seat.
So, now the market is slowing down. I'm starting to have fun again. But in the back of my mind, I'm thinking that I want to do some serious farming of one neighborhood and one condo building where I've done a lot of work. The agents who had been farming there are all scurrying around hunting up buyers!
Like my handsome cousin, Adam, I think I need to be able to swing a Hummer to a 180 degree turn.
Howdy Patricia
It's a good skill for anyone in any business.
I learned it when I was in the service.
Thank you for a very fine post to read.
Have a good one