A Floyd Wickman blog by Mike Pallin, Floyd Wickman Team, LLC One of the most common questions people ask real estate agents is, “How’s the market?” When you get that question, how do you answer?
A speaker I heard many years ago advised us to always answer that question with, “Unbelievable!” He said, because that covers it both ways. With the appropriate voice inflection and facial expression, “Unbelievable!” always projects a positive, optimistic attitude, no matter what the market is doing.
I think that word describes today’s market conditions better than ever before. It is unbelievable out there.
It’s either, “I can’t believe the listing inventory is so low.” Or else it’s, “I can’t believe I have all these listings that aren’t selling.” And in some markets, it’s both at the same time.
Today, “unbelievable” means it’s unpredictable. It’s unprecedented. It’s never-before-seen. It’s confounding, confusing and consternating. It’s head-scratching. We are in uncharted waters. As Dorothy said, “Toto, I don’t think we’re in Kansas anymore.”
When things are different from anything we’ve ever known or seen before, it’s so easy to buy into paralysis, panic and pandemonium. Isn’t it?
Let’s settle down for a minute and recall Floyd’s advice, “Nothing lasts, not the good times or the bad times.” Or these weird times.
Since the very first Floyd Wickman Program, we have confirmed one truth over and over – Your own personal economy doesn’t have to be determined by THE economy. In good markets, bad markets, high interest rates, low interest rates, economic uncertainty, runaway inflation, recession, boom or bust, there is an alternative to giving up and settling for less.
Let’s put it in Floydian terms. When the going gets tough, the weak get going, and the tough get back to the basics. The basics always work. They always have, and they still do today.
So, if you’re sitting there with your head in your hands, take Floyd’s advice and get back to these 10 basics.
- Talk to people.
- Ask for referrals.
- Write thank you notes.
- Knock on FSBO doors.
- Get voice-to-voice with expired listings.
- Hold open house.
- Canvas just listed and just sold neighborhoods.
- Use the SPECIFIC PERSON approach to generate listing leads.
- Convert lookers (who can’t buy until they sell what they own) into listers.
- Convert buyer inquiries into CITO’s. (A CITO is a face-to-face appointment to be qualified, select and look.)
In other words, don’t just sit there, DO something! You’ve been ‘Wickmanized.’ You know how to do all of these. Most people in a slump don’t need more knowing, they just need more doing. Not doing breeds unhealthy attitudes.
So please take this reminder to heart. If you are looking around at market conditions you’ve never experienced before, and wondering how things have gotten so weird, stop wondering and go out and do the basics. Have a little faith that doing the basics will put you back in control and get you where you want to go.
I promise you this. If the basics ever stop working, we will let you know.