The Other Side of Doom And Gloom

by Jeff Turner on June 26, 2007

thumbs downConsumer confidence is down. Home sales are declining. Inventories of unsold homes are at record highs. Realtors are depressed and so are their earnings.

This makes no sense to me.

Here’s why. The forecasts that I have seen for home sales say that roughly 5.9 million homes will be sold this year. It’s down from 6.4 million homes last year. So the real estate world is going to hell in a hand basket because only 5.9 million homes will be sold? I don’t think so.

The strategic challenges for you are these:

  1. To develop an effective marketing plan to make sure you get your share of listings.
  2. To educate your sellers to bring their expectations in line with the current reality of the market (that applies to pricing and time on market).
  3. And to strengthen and broaden your marketing approaches to selling listings – especially everything having to do with the Internet.

As a Realtor® it is critically important that you understand that you must live and thrive in two worlds, the age 45 and under world and the world of people over age 45. The under 45 world is where the Internet dominates. By ignoring that world (not having a strong, impactful Internet marketing presence) you are cutting yourself off from a huge share of your market. Your listings will remain unsold for a longer period of time. Your sellers will become dissatisfied with your performance. Your income will suffer. So will your morale. It becomes a downward spiral.

The highest achievers in every industry market harder and more creatively in lean times. Adversity is the birth place of the next wave of success. Real Estate is no exception.

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