I'm new in real estate, and I wanna know what you guys do if the industry is in drought. Let's say almost after a month since your last sale? What do you guys do when the market is down and you have no homes listed with you being sold.

I'm not being pessimistic or anything, in fact I love this industry, I just want to be prepared.

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That's a great question.

I'm a former casualty of the Florida housing market myself.
Here are some of the things that I did.

First, take a look at the changing market and ask yourself...What do people need right now?

1. They need help with foreclosures.
2. They might need new phone numbers because creditors are harassing them.
3. They might need help moving, moving supplies, etc.

For myself, I saw an opportunity to start placing offers on all of the properties in the MLS.
Then I created and patented a product that lets people place 100 offers per day...all at 50% of asking price. You can check it out here if you like. MLSGorilla.com

For yourself, you will need to spend some time thinking about this. The average "Days On Market" house before the housing runup of the early 2000's was over 3 months...not 3 weeks.

Take this time to get educated and network with other individuals that are in it for the long term. You are in a great place to get started.

Matt
I think this is a good question too. I say just target a new place. This industry will never die anyway, just find a place where RE is still "in". If you really love the industry you will not give up with just a simple drought.

But of course, you should know when to stop hehe.
The question is great. Everyone should read this thread.

Thanks for the reply Matt. I will check MLSGorilla.com later too. Gosh, it's so hard to earn money these days!

Matt Gerchow said:
That's a great question.
I'm a former casualty of the Florida housing market myself. Here are some of the things that I did.

First, take a look at the changing market and ask yourself...What do people need right now?

1. They need help with foreclosures.
2. They might need new phone numbers because creditors are harassing them.
3. They might need help moving, moving supplies, etc.

For myself, I saw an opportunity to start placing offers on all of the properties in the MLS.
Then I created and patented a product that lets people place 100 offers per day...all at 50% of asking price. You can check it out here if you like. MLSGorilla.com

For yourself, you will need to spend some time thinking about this. The average "Days On Market" house before the housing runup of the early 2000's was over 3 months...not 3 weeks.

Take this time to get educated and network with other individuals that are in it for the long term. You are in a great place to get started.

Matt
Thanks for the ideas guys, especially to Matt. I just want to be ready when the time that I will have to leave real estate comes. Who knows, we might really run out of lands and houses to sell. :)
Real Estate industry will not die, there may be droughts, but it won't be too long for you to resort into changing carreer. As long as there are people needing homes, we will not go out of business.
I agree, if you really love what you are doing then a pot hole should not stop you, just go on and you will soon pick up your speed. Real Estate industry after all is a very tough industry.


Camille Brown said:
Real Estate industry will not die, there may be droughts, but it won't be too long for you to resort into changing carreer. As long as there are people needing homes, we will not go out of business.
1. They need help with foreclosures.
2. They might need new phone numbers because creditors are harassing them.
3. They might need help moving, moving supplies, etc.

This is actually a good list. I say don't move too far away from real estate. It's never easy to start from scratch so if you can find a career that is related to real estate, then go for it.
I may be too old to restart things... I agree, let's just pick up from where we stopped and continue doing our thing. Real estate business after all is the "real" deal.

Tamlyn Brooke said:
1. They need help with foreclosures.
2. They might need new phone numbers because creditors are harassing them.
3. They might need help moving, moving supplies, etc.

This is actually a good list. I say don't move too far away from real estate. It's never easy to start from scratch so if you can find a career that is related to real estate, then go for it.
What do you do if the land is out of grass? Move to a greener place. :)
I haven't actually thought of this, until now. This is an eye-opener. We need to plan ahead for our future.
It's never easy to shift careers, I mean we all hate change, but if ever I realize that there no hope for real estate agents, then I might just have to do what I do best... stay at home and be a mom.
It's not like we can just stop and wait for the drought to be finished... we need to do something, the industry may lay low but the need to eat, pay the bills and spend will not. So we should really try and look for another income source. I am see myself selling other things like clothes.

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