I’ve been in this business for 20 years.
I’m a hopeless optimist.
During these very unsettling times, I’m using both of these truths to motivate me everyday.
What’s Old is New, Part 1
In 1992, four years after I started my real estate career, the U.S. economy took a dive. Housing prices dropped, which made both buyers and sellers a nervous bunch. Sound familiar?
No doubt, the current economic crisis is worse. And in 1992 the problem wasn’t centered around bank failures. But the anxieties of my clients was the same.
“Should I wait to sell?” a nervous owner would ask. “If I hold out a little longer, I hear that prices will drop even lower,” a skittish buyer would say.
And it’s our job adjust our sales strategy and our message to changing times.
The problem with housing booms is that we get so caught up in the prices of our homes—how much is it worth now? How much have I profited?—that we lose sight of the quality of life matters associated with home ownership.
During tough economic times, I emphasize the aspects of a home that you can’t put a price on: the confidence that comes from knowing that your kids are attending high quality neighborhood schools, the security that you have when you trust in your police, fire, and sanitation departments, and numerous other matters that give us peace-of-mind.
What's Old is New, Part 2
On September 11, 2001, the United States became a target of terrorism that we had never experienced before.
I think that time causes us to forget what the entire nation went through after wards, so allow me to remind you of what happened.
Fear filled the conversations we had with our friends and family. “This is the start of World War III,” is something that I recall hearing.
At the time I really felt like I needed to look for new work. “Who is ever going to consider buying or selling a home when we don’t know what tomorrow will look like? “ I asked myself.
It wasn’t an irrational fear. The phone stopped ringing, and buying and selling homes dropped to the bottom of my clients to-do lists.
If you recall, the news reported that all skyscrapers were potential targets—even ones in Downtown LA, 4,000 miles from Manhattan's skyline.
The news demonstrated the vulnerabilities of our nation’s athletic complexes with schematics displaying where possible terrorist attacks could occur.
U.S. airports were put into the equivalent of Microsoft Windows safe-mode. And airlines feared going bankrupt as a result of the overnight plummet in ticket sales.
If we compare that to the current situation, we’re in a far better place.
There's no denying that we’re going through what is arguably an economic crisis of unprecedented magnitude, and it's spreading across the globe. And watching the news can make our current situation seem like the worst we’ve ever experienced.
But if we take a step back, breathe deeply, and allow our experience to guide us, we can see that the sky isn’t falling.
It's during these difficult times, when I count on my positive attitude.
If you recall, after 911, I said that I thought my real estate days were numbered.
The phones did start ringing again, business resumed, and in fact, I made an immense amount of money during the months following the World Trade Center attacks.
Business was by no means handed to me, it rarely ever is. I worked harder, countered my clients’ fears with comparables and long term real estate trends, and I became a better business woman as a result.
There is a silver lining when you reach the end of the tunnel. There is a pot of gold at the end of the rainbow. You’ll have to work harder and longer to get there, but allow experience and optimism to be your guide.
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