Getting Past the Dip.


Though the condition of the real estate market in America has made it possible for entrepeneurial people who want to turn things around to establish and grow a successful business, it’s also a tough bone to chew. That’s because there’s so many other hungry realtors and contractors and investors out there. And, if you watched the 80s movie Alive you know what people do when they get hungry enough (eat each other to survive).

Back to the bone. Because the market is so saturated, there appears to be so little bone left for any one of us. That’s why people get frustrated. That’s why people dry up. That’s when rash decisions — like quitting — are made. During one of my most recent string of cold calls to local brokers and realtors, I spoke with a man who said he was getting out. He said REOs in Dallas were owned by three noted brokers, and if you weren’t them you would not get anything.

What a loser way of thinking.

Admittedly, I don’t know the Dallas market well enough to venture a guess as to whom he might be referring. But, despite this, I would like to know the people who are selling the most, the people who are repairing the most and the people who are investing in the most.

I’ll bet once I got to know them I’d learn that they are not born winners. They had to suffer through what is called “The Dip” just like any one of us. The long, grueling period of time after the initial startup where the industry itself had positioned obstacles to hurdle. The dry periods. The months of no-sells. The months of not getting payments. The points where they too wondered, “Why am I doing this? Because I don’t know how to do anything else? Because I lack vision? Because I’m stupid?”

Then, they broke through. And they became the best. And you and I aren’t there yet.

Statistically, more people quit than stick. And, that’s really a good thing. Good for me. Knowing that lots of people are going to drop off gives me the incentive to keep going. Not in a cold-hearted way, but in a hopeful, open-hearted way. Knowing that lots of people in my same line of work will quit even gives me the boldness to share some of my secrets. You might say, “That’s suicide. Once you share your secrets, with as saturated as the market is, you’re asking to get stepped on and swallowed whole.” I say, I’m going to share some of my secrets because I know many of the people with whom I share will not be in the business this time next year. Not that they will be utter failures. They will probably make a wise choice to quit and do something they are better at.

The question to ask yourself, because sometimes it feels so justified to quit and so ridiculous to stay, is, “Is this idea to quit being made on impulse? Or, did I build a quitting strategy into my initial plans? The best quitters are the ones who thought about it ahead of time. They asked themselves upfront, “What will have to take place to make me pull out?”

Another fact is that those three people who are the best now will not always be the best. They will trade places with you and two other people (me included). And then we’ll rule the industry for a while.

Come on. Don’t let the saturation get to you. We live in America and every market is saturated. Can you imagine trying to sell a pain reliever in this country? Go to your nearest supermarket and count your options. Or, how about bottled water?

Saturation should encourage us more than discourage us. Those of us who are more enlightened will look into the sea of market specialists and say, “In time, many of you will not even be here to compete with, and those of you who are do not want this as much as me.”

So, keep pushing past the Dip. Someday you’ll be a real estate superstar.

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