Posted on 09/18/2006 9:10:42 AM PDT by Hydroshock
ping
Bingo.
Looks like the strategic deployment of more "affordable housing" might be needed to chase people out of their neighborhoods.
like the Dot.Com thing, some hit good, some hit big, but most lost out
Works for me. I'm still doing OK, granted, I'll concede that things are tougher, but as the exodus continues, I will have a larger pool of business.
:-)
Around the metro area here in Minnesota, there are more real estate agents than houses for sale, and it's been that way for some time.
I'm expecting some to drop out of the business, at least temporarily. Lots of housewives have their real estate licence, but don't really manage to sell any houses, or maybe one a year or so. I think they're going bye-bye for now.
The ones that stay are the ones who are generally best at it in the first place. They are good enough at their jobs to weather the storm.
>>Real estate always comes back from any slowdown or recession and goes on to achieve higher levels
Bingo.<
Yep. The stock market does the same. Well, sort of. The "credit inflated" stock market runnup of 1929 reached its "pre-crash" level in the late 1950's. We will see, after it finds bottom, how long it takes this "credit inflated" housing market runnup to reach it's "pre-crash" (or "soft landing", nyuck, nyuck) levels.
It'll be fun! Things are happening so fast, it's like living in a movie!
"The ones that stay are the ones who are generally best at it in the first place. They are good enough at their jobs to weather the storm.
"
Yup. Agents who work hard at the job do just fine. It's the wannabes who are going to lose out in this buyer's market.
When my wife and I were looking for a house here in Saint Paul, we saw one driving around that looked interesting. I pulled my cell phone and called the broker who had his name on the sign. Answering machine. I left my number and the address of the house.
He never called back. The house was still for sale a month later. I never did figure that one out.
We ended up buying a house we visited at an open house. The realtor there, a young woman, took us seriously when we said we wanted to make an offer on a house that week. The next day, she took us to a bunch of houses, even though she was the listing agent on the house where the open house was. We liked that first house best, so we bought it, and she was great about the whole process.
She worked her butt off to sell us a house. Several other agents ignored us when we told them we were buying a house that week and would be paying for it with cash from the sale of our house in California. They just couldn't be bothered to show us other houses.
Amazing. They deserve to go out of business.
Actually, I think you're being sarcastic, but from what I see you can't live on 67k in NYC. Not in Manhattan, anyway. Maybe in the ghetto.
I do mortgages, and it's the same way. I talk to countless people who I can help with a loan quite easily that say their previous "mortgage guy" never calls them back. I guess that leaves more for me!
me ? sarcastic ? - did she quit a 135k a year job because she was only making 67.5k....?
did she find new work ?
for how much ?
was her new employment same industry ?
incomplete anectodal crappola to back up a premise stinks.
sarcastic ? me ?
Anecdotes never usually prove a point, despite certain posters claims otherwise.
That's beyong stupid.
When I was running my business, I told my employees that if someone showed up cash-in-hand, they were to drop everything (except another customer with cash in hand) and get on that prospect--and if the money in question exceeded a certain (relatively low) amount, they were to get me out of my office immediately. (One important rule of small business that a lot of small business owners ignore: customers with a substantial amount of money deserve--and should rightfully expect--to do business directly with the owner. It shows respect, and it ensures that potential problems are identified and worked around quickly.)
I never lost a hot prospect for lack of action. Lost a few because a competitor was able to come up with something that met the prospect's needs more cheaply, more rapidly, or both--but not because my team let moss grow under our feet. And later on, I got some of those prospects back in the door when they needed more than their previously contractor could deliver--and they remembered how we'd worked to earn their business the first time out.
You NEVER blow off a customer with money to spend. Carrying a lot of money around is hard work. You try to relieve that customer of the burden of carrying all that money and give him a quality product that meets his needs as fast as you can.
I just cannot fathom what was going on in your case.
Poor time management, mainly. The "I'll call them later" concept. Then they forget...
But we have another S&L type of crisis coming over all the crazy loans made over the last 5 years.
This went up like the false stock market did and could go back equally hard.
There is IMO going to at least be one hell of a recession when the housing/loan collapses sink in.
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