Posted by Dawn Griffin
20 Lessons Learned in 20 Years of Real Estate
In April 2018 I posted a blog titled 14 Lessons Learned from 14 years in Real Estate (read here). Fast forward six years and I just celebrated my 20th year as a Realtor. I am still very proud of that blog and the professional I was at the time, but goodness, have I learned so much more in the last six years.
Updated Version: 20 Lesson Learned from 20 Years in Real Estate
Lesson 20
Your value as a Realtor is not measured in time or houses shown or the number of photos on your listing. The value comes from your experience, your network, your ability to communicate/negotiate and problem solve.
Lesson 19
Listening is a Superpower. People will tell you they want a condo because they don’t want to take care of a yard. Then 35 condos and 4 months later, they buy a house with a pool. How do you save yourself and your clients all that time and effort? Ask better questions, ask more direct questions, ask more clarifying questions. Then actively listen to those answers.
Lesson 18
You must adapt. Often. The Market is never the same from one year to the next. 2004 was a boom. 2008 was a bust. 2009-2012 was a slow fall to the bottom. 2012-2015 was a slow climb back to a balanced market. 2017 we started seeing multiple offers. By 2019 they were common. March 2020 the market shut down for three weeks. Sales plummeted and everyone worried about recession. By May 2020 we were back to multiple offers. 2021/2022 we saw double digit year over year appreciation. The last half of 2023 we saw interest rates go from 3% to 6% in the span of 3 months. Another first. And in 2023-2024 we have a legitimate housing shortage. There is no normal market. Stay agile. Stay adaptable. Always be learning.
LESSON 17
People want what other people want. Pricing right is crucial especially in a seller’s market. When every other house in the neighborhood sold in the first weekend and your house is on for 11 days, inevitably people think there’s something wrong with your house. They wonder why someone else didn’t buy it. They reason that there must be something wrong with it and they decided to pass. Because everyone already decided it wasn’t worth it.
LESSON 16
Not everyone needs your help. That’s OK. Work your tush off for those that do.
LESSON 15
Reputation is EVERYTHING. Integrity is your shield.
It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.
There is no other way to run a business long term. I’m excited to see where the next five years (and beyond) takes me. I’m sure I’ll be learning something new, with your help! Thanks for our continued partnership.
