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Monday, April 26, 2010

You can't be beat if you don't quit...

Today's saying from Jack's Winning Words, my favorite source for thought provoking quotes is from Babe Ruth, who said “It’s hard to beat a person who never gives up.” I'd say it's also hard to beat down a person who never gives up and life certainly triers to beat us all down from time to time.

In my real estate business, when I'm talking to potential listing candidates; I stress that they have to be a partner in the marketing process and that they must have a commitment to the 3-P's - Price, Patience and Persistence. The price point is fairly obvious - the place needs to be priced to the market or it just will not sell. And prices need to be reviewed and adjusted as needed to match an every changing market.

The patience that is required is often well beyond the seller's initial expectations. I'm selling in a market that is averaging over 200 days on market - averaging.That means that a significant portion of the market is above that average. I generally set the expectation that it will take 12-18 months to sell in this market, if the house is above the $250,000 price level. If it is above $400,000 it will be 18-30 months in our area. It's been that way for about 2 years now, with little sign of letting up, yet. Lack of patience is one of the leading causes of agent change in our business. If you have a good agent - one who is doing all of the right things to market the house - then be patient and let them work for you. That work and your patience will eventually pay off.

The persistence component is maintaining that day-to-day routine of getting the house ready to show, everyday and at all hours. That is especially hard in homes with small children and sometimes those with pets. There is a real discipline required to do what is required before leaving for work everyday or to be ready for the 1/2 hour fire drill to get the place ready when the showing appointment call comes in. That requires persistence - a commitment not to give up.

So, maybe sometimes you feel like that inflatable punching bag with the weight at the bottom (one of my grand children's favorite toys when they visit). Maybe you feel like everyone and everything just wants to take a swing and knock you down. But you know what - it always pops back up and at the end of the day it's still standing. It was never beat because it never quit popping back up, ready to go at it again.

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