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I guess that is not the case here. When we had 4 month of inventory we were selling low end REO like hot cakes. I did not bother with high end. With inventory as low as 2-3 weeks, it is still active.
The estate sale near SFO is slowing down. No Russian or Chinese coming with cash, every seller is forced to lower price. It appears a few mil reduction is still not affordable....
San Jose, CA
Sandy Padula & Norm Pa...
Its not about working harder but working smarter but given that the planning should have done before market dies down.
With the high average age in the industry, another alternative for many is to retire or just work part time.
There are seasonal or cyclic changes that occur in the market and require no change from one's SOP. However, what can occur, and appears as a "market die down' is actually the result of activity moving to another segment or category. Recent example is distressed sales.
I analyze where the business has gone then get back in the game. I keep data on the 12% share segments and make certain that is where my activity is focused.
Sandy and Norm Padula nailed this one!
Probably regroup, since loosing a deal is very stressful unless I knew that it is coming and I know exactly what should be done to do it successfully next time.
Both, more marketing and perhaps a different direction.
I do some of both. It is time to look outside the box and also stay with the tried and true marekting that has always worked.
I just keep doing my thing and get caught up on other stuff.
We market the same all year long.
"Dies Down"--boy, what a relative term that is! So in our market "Dies down" could mean 3 offers on a home instead of 10! Single digit appreciation would be "Dies down". I think ANY pro who does lead generation daily wont' face this decision. They may have to shift their marketing efforst to a different seller and/or buyer--but if anything if the numbers aren't coming in then accelerate. Massive Action is the critical key.
My answer echoes Andrzej Niemyjski's. Work smarter and assume there will be downturns. Plan ahead with several scenarios for responding when the market changes.
I go to Disney World. NOT! We work smarter, realign our strategies and review what has worked and what has not.