“In so many areas of life, you need to be a long-term optimist, but a short-term realist.” (Chesley Sullenberger) Sully was the pilot who safely ditched Flt 1549 in the Hudson River. In his new book he says that all of life is a preparation for how we react to emergency situations. A spirit of optimism helped him when he was faced with reality. It was more than luck. From the Blog http://jackswinningwords.blogspot.com
Capt. Sullenberger was lauded as the “Hero of the Hudson” for his quick thinking and calm actions on the fateful day when he was forced to land his crippled plane in the Hudson River. In the countless interviews that followed he has been consistent in making the claim that a lifetime of planning and thinking about what he would do in an emergency like that prepared him to be able to calmly execute the maneuvers that resulted in everyone getting out of the plane alive. That day, a lifetime of optimism about his ability to do the right things, made the difference within the short-term reality that played out.
In real estate we all need to be optimists, especially in the gloom and doom that has surrounded the market for the last few years; yet we also need to be realists when it comes to setting prices for homes that we list. The trick is not to let yourself tip over the edge of realism into pessimism. There is a fine line between the two, one all to often crossed without much warning. One must find a way to discuss a depressed market with becoming depressing about it. That’s not always easy, especially with sellers who may have bought at the height of the market.
Long-term we all know that the market will return to a more balanced state (I hesitate to use the term “normal”, since that is hard to define). Short-term we have to deal realistically with the foreclosures and short-sales that dominate the current market. Long-term we can state with a great degree of assurance that real estate values will appreciate over time. Short-term, we still have value declines in progress that may this year add another 8-10% to the losses that owners have felt already. Long-term, as Realtors we know that this can be a very satisfying and rewarding profession to be in. Short-term most of us have to find some way to supplement severely depressed earnings from real estate.
Capt. Sullenberger was lauded as the “Hero of the Hudson” for his quick thinking and calm actions on the fateful day when he was forced to land his crippled plane in the Hudson River. In the countless interviews that followed he has been consistent in making the claim that a lifetime of planning and thinking about what he would do in an emergency like that prepared him to be able to calmly execute the maneuvers that resulted in everyone getting out of the plane alive. That day, a lifetime of optimism about his ability to do the right things, made the difference within the short-term reality that played out.
In real estate we all need to be optimists, especially in the gloom and doom that has surrounded the market for the last few years; yet we also need to be realists when it comes to setting prices for homes that we list. The trick is not to let yourself tip over the edge of realism into pessimism. There is a fine line between the two, one all to often crossed without much warning. One must find a way to discuss a depressed market with becoming depressing about it. That’s not always easy, especially with sellers who may have bought at the height of the market.
Long-term we all know that the market will return to a more balanced state (I hesitate to use the term “normal”, since that is hard to define). Short-term we have to deal realistically with the foreclosures and short-sales that dominate the current market. Long-term we can state with a great degree of assurance that real estate values will appreciate over time. Short-term, we still have value declines in progress that may this year add another 8-10% to the losses that owners have felt already. Long-term, as Realtors we know that this can be a very satisfying and rewarding profession to be in. Short-term most of us have to find some way to supplement severely depressed earnings from real estate.
So, what’s the take-away from all of this? You must remain optimistic about the future, about the profession and about the market; while at the same time conducting your business and your life in a realistic way to deal with the current conditions. To paraphrase and badly mangle an old saying, “It ain’t heavy, it’s my profession.” Wow, now there’s an optimistically realistic statement.
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