In my last blog, I mentioned that I refuse to work with agents (on a consulting basis) if their only explanation for their struggles is to blame the Other Guy. If someone isn't willing to first look in the mirror to find the solutions to their dilemma, I know I'll be of no use to them!
But let's talk about blame for a moment... rational blame versus irrational blame.
I think it's pointless to "blame" our clients for our troubles. Oh, we real estate agents are experts in doing this - after all - the phrase "Buyers are Liars" is deeply ingrained in our industry, as obnoxious as it is (don't get me started). We ridicule our sellers for wanting Top Dollar for their home in Less-than-Top condition, or for "needing" a certain sales price to be able to sell. Well, guess what? The ability to resolve these transaction-specific issues IS our job and the reason we're paid the way we are. If we can't empathize, thus effectively communicate with our clients, then that's our fault, not theirs.
That's a topic for a different day.
Today I want to talk about the other thing we blame for our struggles - The Market. And y'know what? I'll buy that. I do think it's perfectly reasonable to blame the market and/or the economy for a failing (or frustrated) real estate career. Hey, if buyers aren't buying, there's NOTHING we can do about that - we certainly can't manufacture buyers if none exist!
So, what if YOUR market sucks? And some certainly do. I've been contacted by agents in most of the 
infamously sucky markets, including Las Vegas, Florida, Michigan and Phoenix, wanting to know if I can help them. Well, frankly, I'm not sure I can, at least not in the time-frame they need in order to survive.
Here's what I ask these struggling agents:
JA asks: "In your market...
...is there business to be had, if you could figure out how to get it?" (One agent I spoke with said that the very top producers are selling no more than a dozen homes per year. If this is true, I'd say that no, there is NOT much business to be had at this time).
....are there buyers?" (Of course, this is related to the first question, but a bit more specific. In some markets or specific market areas, there simply may not be a buyer on the planet right now. Again, there's nothing that can be done about that.)
... are houses selling?" (Many agents ask me for help getting listings, but when I ask this question and the answer is "no, not really," I have to wonder why one would want listings!)
If you work in an unviable market, then you need to make some tough decisions; decisions that may conflict mightily with your gut. Here are your options as I see them:
1. Focus on the future - stop fretting about the NOW and strive to increase the number of raving fans in your Sphere of Influence. When good times return (and they will), you'll be one of the few still standing. Of course, this requires that you have an alternative source of income or that you drastically curtail your lifestyle.
2. Back off... slow down... take a deep breath. ARE you doing what you know needs to be done to generate business or are you so scared and frustrated that you're spending most of your time bon-bonning on the couch (or behind the keyboard)? Don't declare the market dead if you haven't given it a good effort. Even if your good efforts fail, at least you'll know you tried. Re-evaluate your business plan and review (or create a list of) your activity goals. Are you holding up your end of the bargain? If you can honestly say that you aren't, give it a few more uber-focused months and see if things turn around.
3. Quit. Yeah, quit. There's no shame in throwing in the towel and moving onto something else that pays the bills and allows you to sleep peacefully at night. I know lots of agents, great ones even, who have chosen this path and they're actually proud of themselves for making this very tough decision.
But... if your market is okay (and many are), stop blaming the Other Guy for your troubles and let's get you back in the saddle!!!
JUST RELEASED!
You are right. The agent needs to figure out what they need to change in order to be successful. We have turned around from 90-10 seller client closings transactions to 10-90. While listing leads are slim except for REO in our area, there are tons of clients looking for these REO properties.
I agree! It is dfinately a "tougher market". Although there are agents in my office who are seeking other forms of employment and yet there are some who are having their best years yet.
In reference to my previous post
WHY I KNOW I CHOSE THE RIGHT PROFESSION!!
You have to re-invent yourself sometimes. As most of us usually do with out even realizing it, but if you fight it things will get even tougher!
I hope that we can all find our place in this "new world" we live in.
I am with you Jennifer. I am a Realtor in the Denver Market and I am not having trouble finding business. You have to adapt and overcome and there is business to be had no matter what the market is doing. I am not going to wallow in a bad economy.
Jennifer, I little Tough-Love for the morning's first blog review, but you have some great points to ponder.
Steve
Jennifer excuses are just that excuses. I don't make excuses, anyway why should I look anywhere else but in the mirror. Besides right now I am the busiest I have been all year. It is as in any business or field survival of the fittest.
Amen sister
Great and timely post Jennifer! People absolutely MUST understand this is business and they are businessmen and businesswomen and thus must make business decisions. G
The market will drive your production lower,but i'm still having an awesome year. It all comes down to your activities.
Great post, Jennifer. We are an industry of whiners. I don't think it's only our industry. We need to stop blaming others on our situation (lack of sales) and look in the mirror. In the past 2 weeks, I put 8 of my listings under contract. This is when others in the area are doing NO business at all. There are still buyers and sellers out there.
This market has been very tough, but I've become more focused most days, and it has paid off with a very good year. There are still lots of struggling agents complaining about the market, but they are waiting for something to happen instead of making something happen.
Jennifer, Good Morning! Right on target as usual. But I would stress, only blame the market if you are doing all of the basics, picking up that phone instead of complaining that it is not ringing for example... contact your SOI, Do open houses, (as much as they are hated, they do generate people to add to your SOI)
it is a back to basics market!
Our current market takes grit and the willingness to step outside of what might have been your comfort zone in the past. I've learned a lot in this market and my production level is actually just a little above last year. I'm already working on deals for the first quarter of 2009 and I'm paying a lot more attention to my expenses to keep everything in line.
Jennifer, I think it IS okay to blame lower production on the market. There is only so much we can do to increase sales in this economy. Branching out into REO & property management works for us.
No one is to blame for your failures except yourself. Not the market, not the clients, IT'S YOU! Go out there and get some! I did and had the best year ever so far in my real estate career. Stop listening to the media and go out to prove them wrong! There is a lot of business out there, but it is not necessarily going to find you, you need to get off your duff and prospect!
Jennifer,
That's the best analysis of our current marketing challenges that I've seen anywhere. Great job!
We all need some motivation from time to time. My manager is always working to keep us working... right now he's doing the 12 days of christmas at the office. Everyday there is a snack and business tip to help you stay motivated, so that we will get ready for 2009.
Jennifer, you hit this one out of the park ... again. Fantastic post!
I think one of the most discouraging things about my market is watching a successful agent do reasonably well - 8 sales, 5 actives, 1 rental (which is up there for the area) but be unable to pay the bills. To get there she had to deal with so many buyers and sellers that she needed a full time assistant. The assistant plus the marketing and general expenses overwhelmed her profits. The assistant (who is wonderful) probably made more than she did on the take-home level. I have a feeling she doesn't even have health insurance.
The amount of money that agents in my area have to POUR into marketing just to get their names out over the noise is astounding and because of the market, its getting worse. So I do question the overall viability of this market for a ROOKIE. There are people who have been around for 20 years doing well. But these are few and far between. You aren't dealing with 80/20 or even 90/10. It's more like 99.9/0.1. Time seems to be the biggest element. It takes about 5 years to make any kind of a living.
The agent I sighted as an example is the most like me in terms of customer service. Which is why I use it as an example of about the BEST i could do. Most other "producers" throw a ton of stuff up against the wall and hope it "sticks." They eventually sell people's properties by disappearing after the listing - and resurfacing from time to time to beat down the price. You might make money this way - but it isn't much on the service side.
My focus IS the future. I'm looking for a job that pays reasonably so I can continue to saturate the market place. I'll take what I can get and when I start to regularly have to hand it off to another agent, it will probably be time for me to go back the real estate full time.
Great points, definitely worth considering!
I see many agents blaming the market. Call me bad, I just let them talk about how the market has been so bad to them. Then while they go home and eat their bon-bons, I return to the office and put my nose to the grindstone looking for business.
There is no question the economy, the market and the agent all play a part in production--it's how they come together that will determine survival in this career or moving on to another. I agree, there's no shame in change, the futile action is to continue doing what no longer works.
Ha! I completely agree. Sometimes the market is to blame for failing agents, but I honestly think that is a very rare case. What really frustrates me is when it isn't to blame, yet it still seems to take the blame. In this market, it's easier for people to justify a lack of work ethic and/or the inability to adapt to the current market climate. I think for those people it is definitely time to throw in the towel. Thanks for the post!
-Brendan Winans
There is a lot of truth in that post. Every agent needs to read, ponder and make sure those 2009 goals are clear!
Right on target Jennifer! I have survived, and usually thrived, through quite a few bad markets in the past 35 years. I even started out in one where homes had sat vacant for over 2 years. But I had 4 little girls who needed to eat so I did what I had to, even though I sometimes lived in fear. of approaching strangers.
It really is a matter of getting in front of or in touch with people. People buy, sell and rent. Computers do not. Many people have Do NOT Call numbers. If you see your friends, your neighbors, your former buyers and sellers, you can accomplish more. You can ask if it is OK to call them if "..." or ask if they would like to receive your enewsletter, etc. So then you may get their current phone numbers and email!
And nice people always like to help others, so if you let them what you need, they can often help. Recently l saw someone I had helped buy a home years ago at the grocery store. In chatting I mentioned I had just listed a small house in a nearby area and really needed to find a buyer for quickly since the owners were moving. Bingo! A lead (their son!) turned into a contract and the home now has a new family. So there are 3 happy families as well. I love solving real estate problems!
I love having things to blame for my production slowing down. Market conditions, bottom feeding buyers, brain dead sellers who left their minds back in the 60s, the price of tequila going up, the stock market, my dogs throwing up on the carpet, you name it and I have used it as an excuse in my 30 years of doing this.
However, at some point reality sets in and I see a change in attitude is needed. And change is tough for a guy still writing with a pencil. Production falls when I stop making those extra phone calls, when I stop seeing where the business is and going after it, when I stop following up, when I stop loading the tubes, when I start listening to people tell me we just have to weather the storm, which is fine if you just won the PowerBall, and when I get lazy because things are not as easy as they were. I have never seen quitting as an option for me, which is a post into itself, but it is an option for agents to consider if the wall is just too high to climb. This business can be as severe as Hillary Clintons wardrobe. It is not for everyone. The option left for me personally is to review the circumstances surrounding me and get my sorry butt back to work and deal with them.
As always, a good post.
I always say; playing the "blame game" is dangerous". Something you hear over and over in any industry is that the most successful people are the ones that can be flexible and adapt easily to any market conditions. Learn new ways to find cllients and to represent the ones you have. Learn about short sales and foreclosures, even if you previously swore you would stay away from them. They are a fact of life right now.
Wow this post really struck a nerve, Jennifer! I know agents who are getting part time jobs to keep the money flowing in. I think many will drop their license this month as January 1 our dues are due, and so are many companies' renewal fees + E&O.
I keep seeing where people are cutting this, eliminating that and so on. Thats absolutely right and appropriate but those tactics are purely defensive. To win at anything there needs to be a well planned offense too! We closely evaluate where each dollar and minute goes as a defensive measure but conversly we continually refine our offensive tactics. What will we do more of? Who will we contact we haven't thought of before and how? Is our signage as effective as it can be? What about business cards? Do we utilize them as effectively as we can? Sometimes very simple things can make a big difference! There's always room for a change in offensive tactics. Thats the only way you'll really make any progress!
Great words of advise Jennifer. My wife and I have been concentrating on numbers 1 and 2 and have dabbled in other income producing activities to stay away from number 3. Thanks for the pick me up.
I always love your blogs, Jennifer, and this one is no exception. I feel bad for agents in "sucky" markets that may have to face facts and quit. I thank my lucky stars every day that I can keep working as a Realtor. I had a really good 2nd year and am working hard now to make sure my 3rd year is as good as or even better than my 2nd. Happy Holidays!
Jennifer, Thanks for the great post. You're right, there are some things we can't change. In fact, never has the serenity prayer held such impact for me and my business. "God grant me the serenity to accept the things I cannot change, the courage to change the things I can and the wisdome to know the difference."
Competitors shouldn't let themselves off the hook by using the market as an excuse for low production. As a competitor (athletics and business) a competitor needs to rise to the level of the fight and overcome. Most agents do not fall into the cateogory of competitor. They do not need to dominate their business / niche and as a result they will feel the effects of the economy more then a competitor will because a competitor will always control an unfair share of the marketplace.
Remember that Competitors march to a different drum then the rest of the agent population. They are Type A on Steroids... Obsticles... Maybe they climb over, under or around... Or they blow them up... Either way they will figure out way beyond the current challenge in the marketplace.
Adapt or die, is the way the world works Jennifer and you have pointed this out in many ways.
Hi Jennifer! As a Phoenix area agent I must say that I think this market is GREAT! As you pointed out in your blog, exiting the profession is an option and I'm quite thankful that some of the agents who were not interested in learning the business have decided to do just that. With fewer agents on the scene I have less competition for my portion of the market share and less of the hassles involved with participating in a transaction with an agent who is part time and does not do his or her job. Now is the time to put in the most effort and I'm looking at this as just another opportunity.
Jennifer -
Great post! Agents have to get introspective in today's market, and really analyze what is holding them back. Often times, frustration comes to the fore, and it stops you. That's natural - we are human, after all.
The thing to key on is what we DO have control over. We can't re-engineer the MARKET itself, but we CAN change how we REACT to it.
And if the reaction is - there is no business here, I have to do something else - so be it, but don't take that decision lightly, or make it too quickly.
Those with poise, and control over their own reactions to today's market situation will be the survivors when the market comes back, and you know it will - Yes?
Happy Holidays, Jennifer - drop in anytime!
DEAN & DEAN'S TEAM CHICAGO
Great Post -- If a Realtors production numbers are not off on a year like this they need to consider themselves very fortunate -- The market is ruff right now -- But this is the time that we need to be preparing for the turn -- ie get your website and blogs in order -- and be working on the business that is out there -- Again great post -- JE
Jennifer: I am hearing the same complaints from many home stagers from across the country and in my market. Despite that, November and December 2008 have been my best months ever. I am actively marketing my company, contacting my past and current clients, stopping by new construction sites, etc. It's working and I am gearing up for an even more successful 2009. I'm definitely a glass is half full kind of person. There are opportunities out there, you just have to work harder and be a little more creative to find them.
Thank you for the thought provoking post.
a good look in the mirror. Some times that is all you need.
You can win a card game with not just a hand of face cards. Enough twos and threes in that hand and you can keep the wolf from your door. Coupled with spending less and making a game of being cost cautious in your purchases. Good post.. hip hip hooray for Jennifer that rallies the troops yet one more time.
You are right on girl. I am with you one hundred percent.
You're very right, Jennifer. I try to stay away from the negative realtors as well OR we could easily all think that the world is coming to an end soon. I have somehow managed to survive this year, in fact, it's my best year so far! In our market, it's a great time to be a buyer, with the high inventories, motivated sellers, and low interest rates- I am focusing on buyers!
Fantastic post, Jennifer! I couldn't agree more. I think that many of the agents who expected that business would just fall in their laps are slowly but surely moving on to new careers. Those of us who are dedicated to the profession are always looking for new ways to restructure our business. At the start of the year, I was working with so many sellers who were not going to break even on the sale of their home and it was tough. I started becoming much more selective with my listings and started taking on more buyer clients -- first-time home buyers, investors and relocations. It's been a lot of work, but I'm having a pretty good year!
People always need homes. When it's slower we must work smarter + take only sellable listings and capture buyers. Great time to beef up and add to your warm market with the goal being to get linked to the 1 or 2 people each person knows who move in a 12 month period.
I'm finding that short sales and first time buyers are a great place to focus right now, and there are plenty of both to go after.
Your very right! Thank you for the great post! Hope you have a great day!
Jennifer, the answer to your first three questions are yes, yes, yes.
And you are correct in saying that it is OK to blame the market for things being slower, but it is not OK for those of us who plan on being around for a long time to use market conditions as a reason to not try to get a larger share of the market and just cry about it. Slower times are perfect to get out and do the prospecting that we some times don't have the time to do when times are good. Just because the market is slow it does not me that we have to be slow.
Jennifer, Please don't hold back let us know how it really is. Thanks for the post I think so therefore I am.
Great post - and some insightful followup comments as well! I think that just as we have all heard that real estate purchases are often based largely on emotion, so too goes the real estate agent. If we allow ourselves to get bogged down in the gloom and doom, or feel a sense of desperation about when we will next see a commission check, then we are already on the wrong track. I try to constantly remind myself that one of the things I love about this business is that it is always changing, never boring and continually challenges me to grow and change too. With a mindset that learning new strategies to deal with a changing market is a wonderful opportunity for us as agents, we can keep a positive focus. And being forced to evaluate our business as a business, making the necessary tweaks to our business plan (and actually having a business plan!) are pretty darn valuable too.
Jennifer, I think the first thing folks need to do is go to their MLS and pull up the stats. Take a look at how many properties are actually selling. You may be pleasantly surprised. If it's a decent number then the game plan is to see what needs to be done to make sure some of those closings are yours. If it's a very low number then you need to pull up surrounding areas to see where the business is at and then move your focus. It really is simple math. We MUST know the numbers before we can make any decisions
I just researched North Olmsted, OH sales for the past 30 days, and we had 18 closings. One condo, and 17 single-family homes. Granted, 5 of them were bank-owned...but the fact remains that the buyers are out there!
And I will find them! Or thanks to Active Rain, my SOI, and my phenomenal marketing...they'll find me!! : )
This is a great post, Jennifer. I still think it all comes down to attitude. And not just in the world of real estate, but in life. If you want something, then you have to truly believe you will have it. And then work for it. Really work for it. Eventually your time and effort will pay off. I can't help but think of an agent we had in our office who complained and complained that she couldn't get her business off the ground. It was our sales director's fault, it was the market condition's fault, it was the fault of the other new agent who got a listing -- always someone else was to blame. But rarely, if ever, did she come to the weekly sales meetings. She stopped in the office for an hour or so every other week just to show her face but really did nothing except complain about every aspect of her life. And she did one open house every few months. Wouldn't spend a penny on any sort of mailings, either. Hmmmm...I wonder why she couldn't get her business off the ground.
Every house on the market could be sold today if the price was right.
Great post! I also thinks it helps to be with a company that gives you the opportunity to make residual income. That comes in handy in times like this! Maybe your market is not great, but somewhere, someone is selling real estate! IF they are part of your team, you will benefit from their sales. That can sometimes make a huge difference in your real estate career.
I gave some thoughts to your question before answering. A long thought. Is it the market, or is it personal goals and production. How many deals/ transactions do you/ I need in order to break-even, survive or thrive in this current market? Is it 1, 10 or 100?
When a business is growing, it must only be better than the last year no matter what the market says. There are many activities that do not cost alot and can still make us produce the numbers we want. We just have to seek them.
Do not fall into the strap and buy into the Market is Bad mentality. Therefore it's okay that I suck too. I dont buy that and never will.
Well the answer to your topic is "temporarily yes we can blame the market". The keyword being "temporarily" as with any business or for that matter anything in life things change and people become confused, lost, unprepared and a bunch of other adjectives. What we do with those things defines us in our professions, our endeavors. If we are committed to what ever we do, if we are true professionals, then we seek out how to deal with the changes that are placed before us. My mantra through my professional life is and has been three words "Innovate or Die" if we hold to this and we are professionals, we WILL seek solutions, we CAN create Buyers and Sellers, I've done it, try, sitting on several millions dollars worth of personal New Home Construction Inventory when mortgage interest rates were knocking on 20%, " Innovate or Die" got me through. The market we are in can be a gold mine for those who really want to be true professionals, who really want to make a difference for their clients and I'm not necessarily talking about Short Sales or Forecloures. Actually this market is BETTER for our clients than the market we just went through, it was better for US, it was easy and the money flowed. Sellers in certain circumstances have BETTER opportunities today than they did over the past 5-7 years, Buyers have much better opportunities today than they did when they were convinced to be a part of a Feeding Frenzy in a manipulated Marketplace, this market is so much better for Consumers, it just isn't as easy for US however it provides as much opportunity for those who want to be called Professional Real Estate people.
Well the answer to your topic is "temporarily yes we can blame the market". The keyword being "temporarily" as with any business or for that matter anything in life things change and people become confused, lost, unprepared and a bunch of other adjectives. What we do with those things defines us in our professions, our endeavors. If we are committed to what ever we do, if we are true professionals, then we seek out how to deal with the changes that are placed before us. My mantra through my professional life is and has been three words "Innovate or Die" if we hold to this and we are professionals, we WILL seek solutions, we CAN create Buyers and Sellers, I've done it, try, sitting on several millions dollars worth of personal New Home Construction Inventory when mortgage interest rates were knocking on 20%, " Innovate or Die" got me through. The market we are in can be a gold mine for those who really want to be true professionals, who really want to make a difference for their clients and I'm not necessarily talking about Short Sales or Forecloures. Actually this market is BETTER for our clients than the market we just went through, it was better for US, it was easy and the money flowed. Sellers in certain circumstances have BETTER opportunities today than they did over the past 5-7 years, Buyers have much better opportunities today than they did when they were convinced to be a part of a Feeding Frenzy in a manipulated Marketplace, this market is so much better for Consumers, it just isn't as easy for US however it provides as much opportunity for those who want to be called Professional Real Estate people.
In our area, the market is definitely tough, with scarce buyers and way too many sellers who can't afford to sell at the current market value. but we are still surviving and keeping busy. Hopefully 2009 will be busier and more buyers will be willing and able to buy but we are going to stick it out for the long run!
Sometimes getting out of the business is the best decision for some agents
Good post! In times like these people need to re-evaluate their business model and change for the better. Either we change with the times or the times will force us to change. Either way, there are many other ways to earn an income and times like these cause creativity to flourish or flounder and only the individual knows which one that will be...
I didn't realize I was not logged in when I wrote that...LOL
Gene
Evening Jennifer, Terrific post and tells it like it is. Even some excellent agents will be moving on.
Let 'em quit. There is a direct correlation between the amount of available commissions in the market as there are agents at any given time (Shift, Gary Keller)
I can actually blame the current market for one of my best years ever and for just being named #1 in my office, the largest office in our County!
You always write great stuff that makes us all think Jennifer. Blaming clients or the market is definitely not the answer. Agents have to be willing to work hard if they want to stay in real estate.
Great post Jennifer and great comments by all the agents following up. I'm with the majority here in thinking that the market is not in control of our destiny WE ARE! I'm going to sell a few more houses before the year is up just to prove that point (and by the way, buyers aren't liars, they're our friends, especially now).
Jennifer
What a Great post and everyone has covered it all... A lot of Agents want the Buyers dropped in thier lap with a check in had. We have been blessed and when someone ask "Are you busy. How's the Real Estate Market"? We are staying busy and the market is good, rates down and properties being reduced now's the time to buy. Looking forward to reading more of your post's.
I agree with the one comment, come the first of the year, when dues are up....you're going to hear a giant sucking sound as thousands and thousands of Realtors drop out. We had 300 sales last month in our area, with an MLS membership of 2600. There's simply no way these people, who do nothing, are going to fork over their NAR dues...no way, not in this economy.
The cleansing is upon us and I think by spring the population of Realtors nationwide is going to be significantly lower than it is today....which personally, is a good thing for those who actually are still striving and actually doing business.
Another good post as always -- thanks for your consistently good posts. All the best for the holiday season.
No it's not alright to totally blame the market and everything under the sun. We need to be accountable for ourselves first and foremost. If the market has slowed down, that means we've got to pick up the pace and work a little harder, that's all. Great post!
"When the going gets tough, the tough go shopping". Oops, that's from another era, the 80's, when the economy was better. This market is tough, but I try to focus on the people I meet and talk to each day with the expectation that what I sow today is what I'll reap tomorrow.
I had a technological almost-catastrophe yesterday, so I've been terribly remiss in acknowledging all the fantastic comments here! Not much I can add to them, except to thank all of y'all for such thoughtful posts. In fact, many of you inspired ME to listen to my own flippin' advice because y'know what? I've been doing a little market-blaming myself for my inertia, even though the market here in Denver isn't bad at all.
Thanks to all my AR friends!!!!!!!
Hi Jennifer,
This is a great quote, "Focus on the future - stop fretting about the NOW and strive to increase the number of raving fans in your Sphere of Influence. When good times return (and they will), you'll be one of the few still standing."
I think a lot of agents underestimate the importance of building a database and not just "getting a deal." A deal will put food on the table today, a database will feed you for the rest of your career.
Jennifer. Nice post! We could but what good does it do? The people that will survive and thrive are the ones who get up every day and go to work. They treat it as their favorite job and profession and act accordingly. Those that don't probably need to consider doing something else that excites them again.
Enjoyed the post - Identifying problems without offering solutions is just griping and whining. It isn't the market. It is you. Re-invent yourself today, find a niche, and hit the ground running. I had a very interesting conversation with a colleague and fellow broker in St. Louis. He had an agent who was paid a salary and was assigned the job of birddogging new business. For over 12 months, the guy came to work and when asked about new business he simply said "Don't Know... The Market is Bad." Well, my fellow broker had enough. He is a small independent operation and recently figured out that he makes more money with less agents. He suggested that the guy take 3 weeks to develop a plan or proposal to generate sales or at least sales lead. Guy comes back in "Not much you can do in this bad market" but here is my 3 items list. What? Not much to do? There is a ton to be done. Guy lost his job - or rather went back to commission only "eat what you kill" sales. Moral of Story: Instead of griping, try to develop solutions and maybe the bad market will be just a little less bad for ya.
JA, it is always good to learn from the competitor (s) instead of blaming them to improve ones skill, gain focus and move foward ! I cannot imagine any local market being that bad... as Jim Cramer says "There is always a bull market somewhere" . I think agents need to adapt and adjust to create a niche of what can help one be successful and focus on that. Futher, I think things will turn around sooner than later. This is a great time to ramp up on the marketing when others are pulling back !
In my area, in the past few years there were just too many agents for the number of transactions. We do about 1000 deals a year, and have over 200 agents in the MLS. Not everyone can survive on those odds.