OK, maybe Nietzsche is a little bit heavy for breakfast, but the theme of many blog posts I have read lately from my colleagues around the country is that this industry, which was never a walk in the park, is a real test of endurance, strength, and fortitude on both a physical and mental level.
When I was on the college rowing team we had a race with Princeton University, which was a far higher calibre of program. They were Ivy League, which is the top of the heap in crew. We were a club. The race was at Carnegie Lake in Princeton, New Jersey, and we got pasted. This was not unexpected. What I recall even more vividly than the whooping we got was the message on the bright orange T-shirt every Princeton oarsman wore that day:
That Which Hurts Me Only Makes Me Stronger
Our T-shirts said things like "Villanova Basketball" and "Nike." Our coach was furious with us after my boat's race, not because we lost, but because we didn't row well. And instead of going straight back to campus, we stayed on that nice lake and had a rare, post race practice session. It hurt. Our boat made the finals of the Dad Vail Regatta (small program championships) later that spring, where we missed a bronze medal by a few feet. In doing so, we beat several other crews whom we lost to earlier in the season. Not bad for a club program.
Hopefully, that is a lesson that will carry over.
We work long hours, fight more buyer resistance, seller grief, and lender red tape than probably anytime in modern history. Transactions are mine fields, not the rocky, negotiable paths they once were. We are travelling that field of peril while multi tasking with new regulations, new technologies, and unpredictable news which can scuttle the already fragile mindsets of those whose cooperation we desperately need. Some clients are unreasonably obstinate; other are paralyzed with fear; getting both buyer, seller, lender and two lawyers to cooperate in a transaction is like conducting a symphony on a high wire these days, yet we have to keep our cool.
The industry was already one rife with rejection, competition, and the odd unscrupulous agent. Now we have, thanks to layers of meltdowns, burst bubbles, collapse of massive institutions, recessions and a shell-shocked public to deal with an unknown frontier to conquer. And you thought getting a real estate license was a good idea.
Anyone who can survive and thrive in this environment will prosper incredibly when stability (and, I'll whisper: prosperity) returns. They also have my respect.
If you are a consumer, consider these things when choosing your advocate.
If you are a licensee, take heart.
This too shall pass, and we'll be the better for it.
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Very nice, JP. These times are definitely a test for us all. The tough WILL be able to perservere and prevail!
J Philip - excellent post! Exactly what I needed today. Thank you for sharing your wisdom!
Hello J-Philip:
As always a great post and thought provoking as well. I have suggested.
Phil,
Anyone who can survive and thrive in this environment will prosper incredibly when stability (and, I'll whisper: prosperity) returns. They also have my respect.
That phrase nails it! Totally my expectations for any agent that can push through. The experience will be invaluable and pay dividends forever.
Thanks for the motivation this morning! I've only been in this market, so I'm looking forward to pushing through with every ounce of my energy and making it to the days when this will just be a memory.
I am strong, I am strong, I am strong. I sometimes sleep a lot during slow times so I can store it when I am swamped.
"This too shall pass", we keep wondering when? For those who keep working hard to survive now, prosperity awaits at the turn of the economy. Set your sight and watch for that curve in the road.
J Philip - great explaination of this real estate market. I especially liked your "mine field" term - and will use that for future conversations. It seems every transaction has a mine field somewhere! For those of us that have been thru a few different markets, we CAN and WILL make it through!
Philip we've really got to love this business we're in and want to survive it. But and love and desire are nothing without the commitment that goes along with maintain the love relationship and the desire to make it work. Those who achieve success in this business take the commitment seriously much like the oath one takes at the alter. Borrowing a little spin from Johnnie Cochran "if you can't commit, you must quit. Very eloquently stated Philip.
Without a stiff challenge where would we be Phil?
J. Philip, Having survived a couple previous "slumps", I have found that cream always rises to the top. Certainly, it helps to remember that "this to shall pass"....and, not a day to soon! Thanks for the encouraging words!
Best post I've read so far today Philip! I'm already making my "I survived the housing meltdown" t-shirts.
JP - first, that is a quote that I really hate. That which doesn't kill me can also leave me broken and/or a vegetable. But I will accept the pain -gain theory. Yes, if we can ride this out we will be stronger and better for it.
Well I must say I am becoming a little motion sick from the ups and downs this market is riding. But hey, I started in 1992 when, in my neck of the woods, sales were almost nil and am still here and still working. When you have a passion for something it just makes sense to hang in and ride the waves. :0)
Mike, It is a pretty heavy quote. That which does not kill me can also make me a quivering, sobbing mess. But I'm glad you see the bigger point.
Craig-Make those t-shirts orange and black! I'm a large.
Deborah- I was in college for the last downturn but I won't rub it in.
Kevin- Well this is one stiff challenge I'll tell you that. it was already challenging! This is like nothing I've ever seen.
Charita- wise words. Commitment is a prerequisite in this environment for sure.
Joan- if the metaphor works, use it!
Wayne- I'm with you on that thought. The waiting is the hardest part like the song says.
Eileen- Good mantra.
Kristen- I cut my teeth in the 90's in a buyer's market - it prepared me in some ways, but this is so unprecedented.
Liz, we'll be talking about these years in our rocking chairs.
Brian- thanks. Here's to a better September for us proud indies.
Bob- glad to make a contribution. But thank the guys on the Princeton crew !
Aaron- it is a war of attrition for sure.
Martha- passion and commitment go a long way in these conditions. I recall 1992 being a rough year for me also. I was out of school by then and taking my lumps in another industry.
I agree that if you can learn to adapt in an environment like this and prosper than you will be well positioned to take advantage of a market when transactions run more smoothly. Its all about having that long term perspective and eye on today and on the future.
"Transactions are mine fields, not the rocky, negotiable paths they once were." Boy, it sure seems that way to me. Excellent post, and I appreciate the words of encouragement.
Phil: Thanks for the inspirational message - alas, I was so swamped that I didn't get to read AR until this evening ... it's been one of those days .... and your post ... well let's say that it just came at the right time! AND I want one of Craig's T-shirts!
Heck, I feel stronger after reading your post! Great inspiration!
Wow, you said this so well! Thanks for sharing what so many of us are feeling and trying to work thru every day. We WILL make it thru - & I do think places like Active Rain where we can learn, share, commiserate, vent etc can help us hang in there.
This too shall pass and we will all be stronger, smarter and better for it!
So true, reflecting on all of the lessons this market is teaching us.
I'm thinking a lot about this right now, and I'm commenting so that you know that you have added to the debate team competition going on in my head. Right now we're in the regional round. There seem to be two sides: those who say "work, and work, and then work some more. It can't be good unless it hurts". But the other side asks "are we doing the right work? Why spend more time doing the wrong work"? I'll bet your crew coach had you working hard at the right things, or you wouldn't have achieved your success. That's what we need to do.
Some of my best learned lessons, probably all, actually, were learned through adversity. I'd like to say I'm one of the smart people who learn from the mistakes of others, but alas, that is not the case. I am doing quite well this year, but it's because of an incredible amount of work and the best customer service I can muster while still getting some sleep each day.
Great post, very encouraging. Like many others, I needed that today. Thanks.
Affirmations!
Timely post Phil. A young agent told me today, he had no idea how I could do this real estate thing as long as I have. He had a challenging week.
These things go in cycles. And I gave him some this too shall pass advice. Excellent post
Anyone who can survive and thrive in this environment will prosper incredibly when stability (and, I'll whisper: prosperity) returns. They also have my respect.
I agree 100%. ActiveRain is one way for agents to survive and even thrive.
Absolutely! I am glad to see the positive posts about working hard and moving forward. Being a successful Realtor is about being strong and determined and not letting market forces drag you down. Getting our job done is harder than ever before and only the best (I hope) will succeed. You won't hear me whining, I am having my best year ever!
I think it is easy to become paralyzed by our clients. We invest too much of ourselves in every deal that when they "are unreasonably obstinate" we fail to move on to capture the next sale.
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darn and it was brilliant...
JPF.....
The pressure on a piece of coal.....produces diamonds....it is the coal that wins in the end while the "pressures" come and go.........
Thank you
Thank you for sharing the personal story. Agree with #2!!
Reminds me of the of the butterfly ... it's the struggle and fight for days trying to get out of its cocoon that makes its wings strong enough to fly.