Myrtle Beach Real Estate by Mirela

If that was your original post from last year, you read the future!  That is exactly where we are today, below market value.

Can you also tell us what the next phase will be?  And when we can expect it?  Pull out your crystal ball...we need encouragement now, TODAY!"

My deepest thanks to Elkhart-Evelyn Johnston for her rousing comment to my blog Listing Agents in La-La Land! 

Although I don't claim to have a crystal ball, my inner guidance has served me well throughout my life.  Here is what my intuition tells me about the future of Real Estate:

It's going to get worse before it gets better.

I, unfortunately, have no time frame in mind. 

There are so many factors at work here and so many different ways this can all go, that it's impossible to predict the exact trajectory of events.  It is very possible that we will live to see unprecedented changes, things we can not even conjure up in our imagination right now. 

The practice of Real Estate as we know it, has already been morphing before our very eyes, with a lot more dramatic shifts about to unfold in the not so distant future. 

Although I can not offer a clear vision of it, I can, however, offer some advice for agents who want to stay in this business and plan on doing so successfully:

•1.     Education.  Our reality is changing so rapidly that education is not an option anymore, it is a necessity.  To that end, Active Rain is instrumental.  I also recommend daily reading of the Wall Street Journal, where one can obtain the same facts the big boys rely on, instead of the watered down version the rest of the media conveys.   The various courses offered by NAR are to be taken seriously, for the benefits far outweigh the cost.

•2.     Support our core organizations:  NAR and AR.  Making a concerted effort to support these two organizations with both time and money will strengthen our position as a whole.  Contribute to R-PAC by donating more than the perfunctory amount and get involved within your local boards.  Ensure that they are well managed and strong.  Be aware of any new bills being introduced at state or federal level that will impact our profession.  Contribute to AR by purchasing Localism spots or advertising on the site.  If we all give a little, it goes a long way; there is strength in numbers.  The one thing I can tell you for certain, is that when you try to help someone else, you somehow end up helping yourself.  Call it the universal law of attraction, or what have you, but it just works that way.

•3.     Build good relationships with your fellow agents.  Help each other, support each other, build each other up!  Even if you are competitors, in essence you are both soldiers in the same army...  Always keep that in mind!  By being supportive in every way possible, you are in fact building up your real estate practice.  Share you knowledge, give credit where credit is due and work hard to build a good network.  If an agent thinks about you with a smile on his face, your listings will get shown more, you will receive more offers and you will be able to put more deals together, because let's face it, how your offer is presented has everything to do with its success, and when it comes to people, money is not the only motivator...

•4.     Pay attention to your physical and emotional health.  In this market it is easy to work innumerable hours.  Control your time and put a cap on the amount spent in the trenches of real estate.  Develop healthy habits of nutrition and exercise, allocate time for sleep and relaxation; nurture your relationships with family and friends.  I recently saw a couple of agents I had not seen in a few years.  They have become very successful in Real Estate, but they've aged about 20 years in 5.  They've gained a lot of weight and just became old.  Don't let Real Estate consume you!  Your business is but a facet of your life; it is not your life!

•5.     Learn to save money.  If you make $4, don't spend $6!  If you make $4, spend $.50.  Yes, 50 cents!  The rest needs to go into: paying your taxes, paying off debt, health insurance (don't leave yourself uncovered), retirement savings (IRA, SEP, etc.), savings for immediate needs and savings for long term needs.  That's quite a chunk, I know, but without being aware of all these areas, you will have a perpetual and vicious cycle of nothing but emergencies...

That's it!  That's my crystal ball and my advice.  Now, if you'll excuse me, I'll go back and read this myself, for I know that it will help me as well.  Just because I know what to do, doesn't mean that I actually do it...  I will frame and post this list in a conspicuous place, so I can follow my own advice!

Stay Strong!  Life's short; live well!

Mirela Monte, Your Myrtle Beach Real Estate Connection                                                       Join the Optimist Group!