My New Outside Blog: Creating Success During the Great Correction

Creating Success During the Great Correction

Great tips from The Housing Guru.

I like his list he posted for us. Good old fashioned techniques that still work.

And the recession is so not over.

Just because Wall Street and the Big Banks are raking in big bucks sure does not translate to the working "man" on the street. He's falling further and further behind.


Creating Success During the Great Correction 


dollar billAlthough the recession has been declared officially over, most realize that the commonly used criteria for determining the end of this recession are severely flawed, and have little impact upon the attitudes of consumers and potential homebuyers.  While the recession may have ended, we’ve now entered The Great Correction, a process that began 4 years ago.  With millions of unemployed, millions more facing foreclosure, and with little prospect of a quick turn-around, what can those in real estate related businesses do to avoid adding to the malaise?  And more importantly, what can we do to create success?


Yesterday I posted a BLOG in which I asked for help in identifying how successful real estate professionals had changed their business plan or strategies to adapt to the new housing market and the attitudes and concerns of today’s home buyers and sellers.  (If you haven’t already commented on that post, please consider doing so, for I plan to compile the responses in a future post that, I hope, can benefit others.)  


While many have already made significant alterations to their businesses, in some areas, little has changed.  I do believe, however, that we in the early stages of The Great Correction and that significant changes are yet to come.  We’ve already seen tightening in the mortgage market, competition from banks dumping foreclosures, high levels of inventory, confused buyers and sellers who haven’t yet grasped the realities of the new market, problems with the appraisal system and a robo-signing crisis that has yet to be resolved.  Identifying potential future changes and creating mechanisms for adaptation and innovation will be important aspects of successful businesses in the future. 


To me, however, it seems certain that those who achieve the greatest success will be those providing the greatest service, which includes:  

Answering the phone                                                                            stick people celebrating

Returning calls promptly

Following up on requests from clients

Being punctual for appointments and calling when you can’t

Being courteous and polite

Presenting a professional appearance and manner

Keeping abreast of the latest market conditions


This is just a beginning list of ways to increase our chances for success as we deal with a housing market in turmoil and the slowest recovery from recession since the Great Depression.


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Comment balloon 2 commentsJon Quist • January 24 2011 03:15AM


Good Morning Jon, excellent post, thanks for putting it up again!

Posted by Dan Edward Phillips, Realtor and Broker/Owner (Dan Edward Phillips) about 9 years ago

I’m lucky because my other half is a home inspector, a photographer, and a marketing & business consultant. One thing that I learned from him is to create a business plan and then work that business plan persistently and consistently. Nothing works in this world except, uh, work.

Posted by Jim Frimmer, Realtor & CDPE, Mission Valley specialist (HomeSmart Realty West) about 9 years ago

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