Coaching

Reality checking real estate market conditions – feelings, perceptions and facts

My perception of reality isn’t always factually accurate.

Mostly I’m a positive guy.  But every other day or so, I think and feel like opportunities are scarce and market conditions outside my control make success elusive.  Do you ever have thoughts like that?

When I think thoughts like that, my perceptions limit me.  When I feel like business is slow and scarce, my spirit saddens, I roll  uptight tense and I struggle.  As a result my attractiveness dims and my effectiveness dulls.  People and opportunity don’t seek out and choose the dim, dull and struggling.  Opportunity gravitates toward the positive, not the sad and negative.

To succeed, it’s important that I understand the difference between what I perceive and feel, and factual-reality.  So, I have this daily Reality-Check thing that I do.  It keeps my head on straight.

Here’s how I Reality-Check myself and my real estate market.

I consciously suspend my perceptions about my market.  I don’t consider how I’m feeling or what others are saying.  I flip my logical thinking switch to ON, suspend my beliefs and go directly to the MLS to see what’s really happening in my market.

Here’s what I do:

I search listing activity for the last 30 days.  How many new listing came on the market per day?

I search pending/contracts written activity for the last 30 days.  How many listings went under contract per day?

Running these simple searches give me the facts about actual activity in my market place.  With the facts in hand I’m not poisoned or paralyzed by the negative opinions, speculation, conjecture or feelings of other people.  What I discover is that no matter how well or poor I perceive my market to be, there are always available opportunities and possibilities.  Always.

Whether I’m feeling flush or frustrated, every day sellers decide to sell and new listing come on the market.   Every day buyers are buying.  This daily Reality-Check sets me straight.  People buy and sell everyday.  The only question is, who will they choose?

Understanding the facts gives me hope and inspiration.  Business is there, if I want it.  It doesn’t matter what other’s report, believe or perceive.  It only matters what’s really happening in my market, and what I’m willing to do to attract, discover and earn what I want.

I run my reports every morning.  When my feet hit the street, I know what’s real and what is possible.  I know the only thing holding me back is me.  If I take action, I can sieze opportunity and change my future.

That’s how I Reality-Check.  How do you Reality-Check yourself?

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Cheers and thanks for reading.

33 Comments

33 Comments

  1. sfvrealestate

    April 11, 2011 at 9:11 am

    How do I reality check? Vodka.

    • Ken Brand

      April 11, 2011 at 9:40 am

      If you’re going down that road, Belvedere would be my recommendation, or Crown with ice-cubes and a splash of H2O. Cheers:-)

  2. Mark Brian

    April 11, 2011 at 9:40 am

    For my dose of reality, I pretty much do the same things. I look at the MLS and even try to blog every week about what I see: what sold, what was the best deal, what the average DOM was for the homes that closed, new listings, expireds, etc etc.

    • Ken Brand

      April 11, 2011 at 9:58 am

      That’s the way to roll Mark. People like agents who know what’s really happening. Thanks for sharing. Cheers.

  3. Jason Farris

    April 11, 2011 at 7:21 pm

    absolutely loved this and could not have come at a better time as I was emailing my clients about market conditions and reducing the price of their home.

  4. BawldGuy

    April 11, 2011 at 8:01 pm

    As a RE investment broker/advisor I have competition from literally all over the world. It not only keeps me tied to daily reality, it’s a fine check. An example is the #2 source of buyers for investments in areas I really like. From another continent. It tells me they perceive the same thing I do, which is, weirdly sometimes, comforting.

    Our perceptions can screw us up or positively ignite us. Matching our perception to the world’s reality sure makes our daily travels more palatable.

    • ken brand

      April 11, 2011 at 8:14 pm

      Thanks for sharing Jeff. That’s exactly right, when they use fear, counter with facts. And in all cases, proceed with extreme correct actions. Cheers man.

  5. MH for Movoto

    April 12, 2011 at 3:48 pm

    Great advice for anyone, in any market. Simple and eternally true – opportunity gravitates toward those who are optimistic enough to give it the time of day. Right?

  6. Diane Tate

    April 13, 2011 at 2:02 pm

    I needed a reality check today for sure. It is always about me, my attitude and what I am willing to do–the willing to do is critical. Thanks. DI

  7. Ruthmarie Hicks

    May 14, 2011 at 3:32 pm

    You also have to be realistic about your chances of gettng business in this environment and how much it will cost. I was getting business. The big problem was that it was costing me MORE to get the business than I was earning. That's a problem. The question was why? I found the answer eventually – and realized that I had to move my focus to another municipality. After some research – the agent that had closed the most transactions in our city for last year – had only closed 2 more sales than I had in the same city. He had closed 9 sales – I closed 7 sales. But I did more in gross sales volume. How? I happened to have a few buyers who went to neighboring towns. The desirability of areas can change quickly. If the highest number of transactions for an entire city for any one agent is 9 – you have a problem with sales volume or/and market saturation. Know what CAN be done realistically . Don't just rack up the numbers and say "I could have had all 30 of these sales!" Becuase that doesn't work either. Think about what you COULD or SHOULD have gotten and go from there.

    • ken brand

      May 15, 2011 at 8:24 am

      Good points Ruth, it's super important to know what you're putting in and what you're taking out as well is where the real opportunities are. Thanks for sharing and all the best of success in your redirected efforts. Cheers.

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