With CNN in the background I hear an "expert" explain that Wall Street is based on "fear and greed. And fear is a much more powerful driver for investors."
What does this have to do with real estate?
Its about confidence.
Mommy Congress and Daddy Bush have asked Granddad Paulson to give the markets a "loan". Seems we all overspent a little too much over the past few years and need some help to get by."Rock a bye Baby, it will be OK".
Its also an election year. I ran scared when I heard one candidate say in an interview he has "a little something for everybody". But this bailout package eclipses any "giving" our candidates could ever promise.
So it is a confidence issue. Confidence game as in con job. We all know granddads loans are really gifts in the real world. With low interest and no due date.
However Government money comes from two places. Taxes or they just PRINT MORE.
So my point is to not think that our parents in DC are going to help. As I implied in a recent post. Prospecting and selling will take care of you and yours.
The reporters are all whining this is the biggest meltdown ever. On the same broadcast I heard at least a couple misrepresentations of the AIG bailout. Puleeze. Aren't you tired of people explaining this thing after just learning the meaning of LIBOR a few days ago?
They will overhype. However, they also over hyped the run up. Good for goose I guess. But, it is time to take matters into your own hands.
Online we can cause geometric attitudinal change. This blog alone is syndicated all over the place. What are you doing online? Are you making good things happen in your market? Isn't it time?
Financing ran the last market. What about now?It is is still about financing. The agents who know financing will not only survive they will position themselves to dominate their markets as this thing turns the right way. Pre-1980 agents had to do all kinds of creative deals. Pull out those old sales training manuals.
Assumptions, carry backs, wrap arounds. Get comfortable with these ideas as it may be your way to transact as banks freeze your deals. Oh by the way, when you are the only one who knows how to get a house financed, the "will you cut your commission?" question quite insulting.
The only ones that will create real confidence in the real estate market is YOU.