Ozaukee & Washington County Real Estate

I've learned a thing or two from some colleagues and myself over the past several years on how and how not to react to different situations in the real estate business.

Got an offer that's not quite what you were hoping it would be? Appreciate that you got an offer. There's a buyer out there that wants to buy your seller's house. Work together to come to agreeable terms. Getting angry at the buyer or the agent who wrote the offer only sets everyone off on the wrong foot from the get go. That's just counter-productive.

Lost a buyer due to a misunderstanding about who was going to be working with said buyer? Assuming you haven't spent too much time with the buyer yet, work out some sort of referral fee or perhaps just let it go. Sometimes it's better to just walk away rather than create awkwardness and confusion for the buyer.

Have a buyer who's making some less than desirable demands of your seller? Keep cool about it. Cursing out the buyer's agent is less than stellar and just unprofessional.

Think your level of production puts you above those around you? Having the ability to stay grounded and offering help and advice to those around you is a much better thing to be rememberd for.

Behave and react with grace. It's a pretty nice way to set yourself apart from those around you.

I don't think you can exist in this world today and not have at least somewhat of an idea of what social media is even if you don't use it in your everyday life. And I don't think you can be in the real estate business -- or any business for that matter -- and not have it as part of your overall marketing plan.

Today I was reminded yet again just how powerful it is and what a benefit it can be.

In the past 24 hours, I've had a great business plan template emailed to me from a fellow CRS (Certified Residential Specialist) member via LinkedIn. She posted a message and offer to share her plan via the CRS LinkedIn group I joined months ago. She gave me some much needed motivation to sit down and really think about my goals for the coming year and to get it down on paper. Time to hold myself accountable for my real estate business.

I also received some direction from a fellow ActiveRainer on direct marketing and ideas for a simple, yet effective monthly postcard program. You can't interact with this individual and not feel enthused.

Over the past couple of years, I've connected with lenders, real estate agents from my market area but also market areas around the country, home inspectors, past co-workers, and childhood acquaintances and friends. They are now all aware of what I do for a living, and hopefully we can exchange some referrals down the road.

But in recent weeks, I've also seen the not-so-good side of social media. I've seen some inappropriate posts left on Facebook by some professionals whose services I've referred out and local businesses I've patronized.

You hear it all the time -- be careful what you put out there. Watch the language and the tone. Think about how what you write could be misinterpreted by the reader. Think about how it could taint your reputation.

Sometimes I wonder if any of us really understand how far the internet stretches -- how many people now know about us. Once it's out there -- it's out there.

Use social media as part of your business plan. Benefit from it. Learn from it. But perhaps keep the angry commentary, the colorful language, and the sarcasm as a part of private conversation instead.

I went to bed last night not feeling so good about being a part of this industry. Earlier in the day I had encountered two agents who had made some comments that were less than kind.

They tried using intimidation and sarcasm, and one even played the "I've been in the business 30 years" card to try and get their point across.

I don't know that I've seen a transaction that hasn't been laced with emotion. Sometimes they're emotions of happiness and excitement, but sometimes they are of anger, resentment, and spite.

I'm just as guilty as the next person of letting my emotions get the better part of me sometimes, and those moments serve as reminders that my job is to work with the buyer, seller, and agent to get a deal to the closing table. It is my job to do all I can to ensure both parties are comfortable and happy with the agreed-upon terms.

So when I encounter agents who choose not to return phone calls or reply to emails or opt to keep my client and me un-informed of his client's response to a request, I am simply ashamed of this industry.

When I encounter agents who try to bully their way into showing a new listing at a time that is simply not going to work for the sellers, I cringe at the realization that I work in the same industry as they do.

I am by no means a "top producer" in my company or my geographical area. But when I look at this sort of behavior from two individuals who are very successful in the business, I ask myself if that is what it takes to "make it" in real estate. Do we need to be demeaning, rude, and disrespectful to be a "top producer?"

When I woke up this morning, I was still thinking about yesterday's events. And I felt very sad and discouraged.

A couple of hours later, I met with a potential buyer at my office. At the end of our meeting, he asked how long I was in the business. I told him eight years, and he asked, "Why are you always smiling?" Without thinking, I said, "Because I love what I do." I told him that it's been challenging the past few years, but you have to stay positive and keep going. He said that as long as I keep smiling, I'll make it.

I pray with every ounce of my being that he is right.

We're just three weeks from the beginning of yet another year. So guess what I've been doing lately? Reflecting. I am embarrassed to say what my real estate production has been in 2010, but it has prompted me to sit back and ask myself, "What happened?"

Here's what I've learned.

1. I am not a tour guide. If a buyer has a house to sell but doesn't either have the house on the market or ready to put the house on the market today, we won't start looking at houses. If the buyer does not have or refuses to get a letter of pre-approval, we won't start looking at houses.

If a buyer is new to the area and wants to see the different neighborhoods and attractions but is not interested in purchasing a home for "6-12 months," they will have to enlist themselves to drive around and get familiar.

2. It is not my wish to have the title "Queen of Overpriced Listings." Part of the services I offer is to provide sellers with a market analysis -- a summary of comparable homes currently on the market and that have recently sold. I offer tools and advice to help them price their home to sell, not sit with a sign having my name rider dangling from it for the next several months or even couple of years. I know it's their right to list their house at the price they want to list it at. But it's also my right to walk away.

3. If a seller says, "Well, we don't have to sell," I am going to listen to that little voice inside my head that says, "Turn around and run!" This kind of goes along with #2 above. With the mindset of "I don't have to sell," comes the mentality that it's not necessary to listen to and really hear the feedback from buyers or to acknowledge that the lack of showings is likely an indication the market simply cannot handle the house at the current price. If a seller really doesn't have to sell, then I really don't have to list the house.

4. I need to walk away from those individuals who complain about not having any business sooner rather than later. "Making it" in any business takes dedication, hard work, a positive attitude, and enthusiasm. And in a tough economy, multiply the needed dedication, hard work, positive attitude and enthusiasm by a hundred. If you don't follow up or do open houses or go to sales meetings or stay in touch with past buyers and sellers or send out regular mailings or make phone calls, you won't have any business. It is that simple.

I will not wait until the new year to start making changes. I'm making those changes now. And things are already heading in a better direction.

Yes, 2010 was a tough year, but it also provided many learning opportunities. And for that I am grateful.

In 53 days most of us will be gathering with family and friends and counting down to the beginning of a new year, new opportunities, new beginnings. A fresh start. Some might even believe that when we flip that calendar to January 1, 2011 all the challenges of this real esate market will magically fade away.

If only...

Once again I was reminded this morning that sometimes there is only so much we can do for our buyers and sellers, and the rest is up to them.

We can show sellers what comparable homes in their neighborhood are currently listed at and what they've recently sold for. We can show them how area short sales and foreclosures are impacting their market value. We can show them all the data we have available to us that predicts prices will continue to fall some more and that prices will not begin to turn around for some time yet. We can show them all of this, but we can't force them to adjust the price of their home to better position them among the competition.

We can pass along to our buyers the magazine articles and newspaper articles and blogs and charts and graphs from the most reputable sources that tell us interest rates will begin to slowly creep back up. And we can show them how this will affect their monthly payment and the cost of their home over 30 years. But we can't force them to get off the fence and write an offer on the house they love.

Ultimately, it is in our sellers' and buyers' hands. The choices they make are theirs. They decide what the house will be priced at. They decide whether or not they're going to wait until the spring to list. They decide if and when they're going to write an offer.

And what can I as their Realtor® do? Keep plugging along. Keep providing guidance. Keep providing facts. Keep hopeful. Keep positive. Keep the faith.

That's the choice I'm making.

I had lunch the other day with a colleague of mine. We work for the same company but in different offices.

I sold one of his listings last year, and that was the first deal I had with him. I had heard of him before, but that was the first time I met him. He is simply one of the kindest people I've met.

At our lunch on Tuesday, we talked about the challenges the world of real estate is presenting. He offered some simple, yet effective ideas on how to work with a seller to properly price their home to get it sold, how to break the news that the market cannot handle the price we're currently at, and how not to let their frustrations "get to you." It wasn't a "pity party" by any means -- just a chance to share some ideas and offer some encouragement.

Those of us who are "in the business" are certainly not the only ones feeling anxious. Sellers and buyers, too, are in the midst of uncertain times, aware of falling prices, and facing job uncertainty. And I think it's important that we all understand we're in this together. Whether we want to admit it  or not, we are scared.

But I also think we all know when we've done all we can to try and make things work. As in any relationship, if both sides don't really want the same thing, it is probably best to cut the ties and move on.

And it is best to know and trust better times are ahead -- for all of us.