Laid Off (Again)

Sorry to hear about your job loss, Todd, but you may wish to consider carefully what you choose to do just because of the timing. When real estate is in a nose dive with problems on both the consumer and financing end of things, are you sure this is the right time to give this market a go? Just wondering.

You might consider part timing things temporarily until things start upward again. This would enable you to 'learn the ropes' and get your ducks in a row ready for the big run. In the meantime you could do some part time internet work or get a part time job to help support the family.

Sometimes success or failure has more to do with timing than skill, knowledge, backing, or determination.

Some ideas for you: Join the local Chamber of Commerce and participate in their activities, especially their get acquainted events.

Join Toastmasters and sharpen your communication skills while networking with businessmen and women.

Re-consider the first time home buyer market. They're often the most difficult to get financing for, especially when the market is tight as it is now. They have no track record for one thing, are often setup by sharpies because they don't know the ropes, and more often than not have unrealistic ideas of what it takes, financially, to buy a home. They'll get you in the middle and then announce that they can't do it because they don't have enough funds saved yet...and you end up wasting time and spinning your wheels in quicksand.

Good luck whatever comes or goes.

Sandi Bowman

Thanks Sandi,

I've been a Realtor for just over 2 years part time, closed 5 deals so far. I've stayed full time in printing for that exact reason - the market has been incredibly rough. A friend of mine started "Own Your Own Home, Inc" over 5 years ago and had been making big big bucks until the last year and a half or so. Things are starting to pick up a bit - homes are actually becoming affordable for first time buyers.

Anyway, I hired on with him some time ago because there is no big financial commitment with him like there would be with Remax, Century 21, etc... (hundreds of dollars to join plus $50 - $100/month or more).

I think that even in this market there is plenty of money to be made, and having a niche - especially one that caters to a down market is a big advantage. The problem is getting connected to the potential buyers.

In the meantime, you are probably right about part-time work as a supplement. I just don't want to get back in the same rut I've been in for several years now, content to "get by" on whatever I'm making and susceptible to layoffs at any time (this is 6 or 7 - and my third just from this company!).

I'll be combing the archives for ideas. Maybe I can find another business to work part time that will allow me to meet people, make contacts and feed the Real Estate biz as well.

[GordonJ]

Originally Posted by Todd

Thanks Sandi,

. A friend of mine started "Own Your Own Home, Inc" over 5 years ago and had been making big big bucks until the last year and a half or so. Things are starting to pick up a bit - homes are actually becoming affordable for first time buyers.


I think that even in this market there is plenty of money to be made, and having a niche - especially one that caters to a down market is a big advantage.

The problem

is

getting connected to the potential buyers.


I'll be combing the archives for ideas. Maybe I can find another business to work part time that will allow me to meet people, make contacts and feed the Real Estate biz as well.

Todd,

PLEASE prove me wrong. I'm begging you. Prove me wrong when I say...

YOU ARE DOOMED TO FAIL in your real estate venture.

I don't want you to fail. I'd like you to succeed, hope that you do and I'll eat crow if and when you do. HOWEVER,

Read what you just wrote.

YOU now have the time to work your butt off full time in Real Estate and yet you will be searching the archives for "ideas"?!!??

Take Sandi's advice, go tomorrow to a temp agency, see if you can use your graphic skills for 20 hours a week or so and then make a decision about real estate. You will never make anything dabbling in it. NOT if you don't have a steady income. 5 Sales in 24 months comes to not quite one sale every 4 to 5 months, that's dabbling.

FOCUS.

NOW is the time to do that. You want a business that feeds the real estate business...try...

THE REAL ESTATE BUSINESS. If you truly intend to make real estate your new career, get serious about it or let us know in two years or so about the next layoff.

I'm not being brutal here folks, I think Todd is not alone when it comes to needing a good swift kick in the seat of his pants.

I truly hope you prove me wrong Todd...but I'll wager that you won't.

Gordon Jay Alexander

[MMacGillivray]

Hi, Todd - I'm certainly with the "Backup Plan" of having some part-time income; there's nothing wrong at all in hedging your bets and keeping a cash flow coming in.

Meantime, to attract the first time buyers, inexpensively and effectively, you're going to have to be really creative ....

• Where do the first time buyers hang out?
• Where do the first time buyers with savings hang out?
• What kinds of properties do the first time buyers look for?
• What's the benefit of them using your service?

Is there one type of first-time buyer who is an easy target for you? eg someone with a shared hobby/interest? For instance, someone with an interest in web graphics - who might also be a prospect for a house?

... Best wishes - I hope that it all works out ok for you. However, don't be too proud to take a job to support you through the learning curve(s) - and don't be afraid of standing out from the crowd when you do get your real estate career under way. Find a way of being memorable.

Margaret

Hi, Todd,

Why not do what a lot of new licensees do...get on your walking shoes and hit the pavement. Instead of seeking listings (I wouldn't turn one down, however, if I were you), why not leave a brochure asking if they know anyone who might be looking to become a first time home buyer.

If there's a predominantly rental homes area, this might be a good starting point to knock, introduce yourself, and ask if they'd like to be a first time home buyer. If not, do they know of someone who is or will be in the market? No harm in asking, right?

If you're serious, don't be afraid to try whatever works...or might work even if it hasn't been tried yet. Think about what a prospective new home buyer might want to know, where they might like to go to dream or find info, who they'd contact etc. Then you make the same contacts, go the same places where they go, and just schmooz and share some tips.

You might work up a mini-presentation directed to first time home buyers giving them helpful tips for planning and purchasing. Then contact likely spots for them such as hardware and land brokers, even contractors and sub-contractors, and offer your presentation and pick up leads for you and the other party. The local library, tourist bureau, community center are all possibilities. Dig in and go for it!

The Toastmasters is still a good idea, Todd. Many of the new families and managers in training will be looking to buy their first home...and there's usually quite a few of them in Toastmasters and other community organizations. You'll find a lot of them there. Even the old-timers have relatives just starting out. Open your eyes and look at opportunity then jump on it!

Good luck.

Sandi Bowman

[Dien Rice]

Originally Posted by Todd

In the meantime, you are probably right about part-time work as a supplement. I just don't want to get back in the same rut I've been in for several years now, content to "get by" on whatever I'm making and susceptible to layoffs at any time (this is 6 or 7 - and my third just from this company!).

I'll be combing the archives for ideas. Maybe I can find another business to work part time that will allow me to meet people, make contacts and feed the Real Estate biz as well.

Hi Todd,

Maybe a good idea is to get a job which would help you with the skills you need for selling real estate. That could be a job in ... sales!

If possible, you may be able to get a sales job where you get a base salary + commission. The base salary gives you something guaranteed to live on, while a commission structure is good for motivating you to work hard. The sales skills you'll pick up will probably help you with your plans to sell real estate.

If you do go for a job in sales, try to sell a product or service that you like and believe in. It will make it a lot easier, and you'll probably be more successful too.

Best wishes

Dien