Wednesday, August 1, 2007

The Real Estate Dilemma: Feast or Famine

Feast or famine is the name of the game for anyone involved with the real estate business. Whether or not you are a loan officer, real estate agent, investor, appraiser, title officer, well, you get the picture. Here are some things I’ve learned over my 5 years in the real estate business.

During the droughts you have to believe you will have another transaction. Or you won’t.

During the good times you have to believe you will have a drought. Or you will be unprepared.

Save your money!!! Save your money but reward yourself. This business can be extremely draining both physically and emotionally. It can’t be all nose to the grindstone.

Never mail your bills till the check is in hand. Just trust me on this. For you loan guys, it can be until 3 days after the check is in hand.

Don’t forget the family. Or you won’t have one when you remember. Same goes with friends.

Remember why you chose this business. Yes, it has great income. But I’m not sure it’s worth it based solely on the money.
And isn’t it a funny thing? The market is supposedly down nationwide. Yet here in Olathe, Kansas our Keller Williams office has had a fantastic summer. For me? My business is up. Not astronomically. But up. Now if you think I’m bragging you need to know that when others are saying their business is great and yours isn’t, well, that’s just about the worst feeling on earth. I’ve been there, too.
Your thoughts on this are more than welcome.