How Much Money Will You Make In this Recession?
October 18, 2008
Have you noticed the funeral dirge being played out on the RE.net lately. Redfin layoffs, Zillow layoffs, and tons of real estate agents lamenting about the market.
I have a question. What do Redfin and Zillow layoffs have to do with real estate agents not making any money? As far as I have been able to ascertain, and maybe I am wrong, but those who unfortunately met their demise at Redfin and Zillow were employees. They lost a J-O-B!
Maybe that’s what’s wrong with the real estate industry. Too many agents treat their chosen vocational pursuit as a job instead of as a business. If business is down you either do something to make it better or close up shop. An employee does not have that luxury. They are dependent upon the decisions of others to ensure their continued bank deposits.
Yesterday I wondered aloud if real estate agents even cared about making any money. I really don’t think earning a living and creating business and generating a substantial profit is the goal of most Realtors.
A real estate agent, controls their own destiny. The true professional should know how to make money in any type of market. While we saw the tremendous volatility in the stock market last week I simultaneously saw more E-trade baby, Charles Schwab and Scottrade commercials than I think I have ever seen. Why do you think that is?
Could it be that good , bad or indifferent, they are still making money. Whether you were dumping your declining portfolio or being opportunistic, you still had people trading. People were still buying and selling and one top indicator of that was trade volume. Who do you think got paid by all those trades? If you don’t know, then maybe you should not be in business and you should lay yourself off.
Here’s the rub…the type of market is irrelevant to those who facilitate the buying and selling in the market. They get paid either way.
When I hear real estate agents whining because of this and because of that I realize that they are trapped in the mentality of an employee and have no real sense of what being in business means.
Want proof? Why is it that more millionaires are made in so-called down markets than in what is considered an up market? Right now is the best opportunity to become a millionaire in real estate than we have seen in years. You just have to know how to capitalize on this market and pick the carcasses clean.
Does that bother you? Does that make you uncomfortable? Then go get a job, you’re not cut out for real world business opportunity. It’s true. If making a substantial profit in today’s economy bothers you then we all know who you’re voting for and you don’t get to wear the Joe The Plumber T-Shirt.
I recently ran across a neat video by a guy named Frank Kern. Kern is a well known Internet marketer. What makes this video so compelling is the simple, almost DUH way that Kern talks about the opportunities in today’s economy. The title of the video is How Much Money Will You Make In this Recession? Why You Have More Opportunity Now Than EVER Before!
He so simply expresses the truth of the matter. It’s all about marketing. Pure and simple. If you want customers, if you need additional income, then you need to be marketing. Employees don’t market. Employees don’t spend any money on marketing. Business owners invest in marketing.
If you’re not investing in your business, if you’re not investing in a proven and significant marketing campaign, then go ahead and give yourself a pink slip and call it a day.
You are your own employee and you will not make it in through to the other side…that is the other side that YOU are seeking. The true wealth seeking opportunist knows that they don’t need to get to the “other side”.
They know how to profit in any market.
How do you spot an employee masquerading as a business owner?
Hmmm…the next time you are on a blog or social network and they you read a post or comment about how tough the market is, or how they don’t want to spend any money on marketing or if they are accumulating post after post or comment after comment from others who feel likewise…then you are wading in pink slip land.
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