Osceola ReVIEW - December 2008 - (Page 12) COMMERCIAL REAL ESTATE PERSPECTIVE By Mike Levine, 2008 President, Central Florida Commercial Association of REALTORS® (CFCAR) SILVER LININGS Adversity that doesn’t kill us makes us stronger. This economic downturn, the Broken Real Estate Bubble and the collapse of the Capital Markets gives us an opportunity to take a Bird’s Eye View of our businesses. Dig out your operating statements from 2003, 2004 and 2005. Take an objective look at them. Go through your contact manager and revisit the relationships that you have with your customers and service providers. Turn the pages of the General Ledger and ask yourself, “What would my results have been if I didn’t write this particular check?” How did you spend your time? What activities were rewarding, either personally or financially. Which activities would you not repeat if you had the time back? Study the productivity of the Money, Time and Relationship resources. You will definitely find a Silver Lining in this thoughtful analysis. The Money What happened to that big pile of money that flowed through your bank account in 2005? Sales Associates, take a look at where your business came from. Does your business revolve around the office or are you truly an Independent Contractor? Brokers and Office Managers, did you bring the business to your Sales Associates or did they bring it to you? Paychecks are coveted commodities today. Who really generates the business that feeds the Realtor family? Let’s face it, real estate commissions and broker fees are the biggest numbers on our operating statements. The Time First, acknowledge that there is business going on today. Then realize that when the sun comes up it immediately begins burning off the hours and minutes of your work day. What happened in your target market overnight? Where are the opportunities coming from today? What activities will yield the best return on your time investment? You have to make this market work for you. Listing Agents must get in front of Asset managers. Buyer’s Agents must find the hottest Bank Owned property that meets that discriminating buyer’s needs. Brokers and Managers must reorganize the revenue and expense equation and find that “Nugget of Profitability”. Tough Times require Bold Actions. The Relationships Rome wasn’t built in a day. Neither is a great career. The key to maintaining great relationships is honesty. What do you bring to the table? Are you the “Rainmaker”? Or, do you need 12 lead generation services? Have you spent the last few years building a reliable revenue stream; a revenue stream that continues in a down market? Or, were you the beneficiary of the hottest real estate market in history? Rainmakers are in the driver’s seat today. Service providers must build relationships with Rainmakers in order to secure the opportunity to take some of the work load off of the Rainmaker’s list of things to do. Rainmakers are busy. There is a lot of work associated with servicing Short Sales and Bank Owned properties. Find your place on the ladder of opportunity. Rainmakers; put the most qualified service providers to work. There is an abundant supply of highly qualified people out there who are looking for a way to make their mortgage payments. Service Providers, sharpen your skills, work hard and deliver the real estate services that Rainmakers need in order to satisfy the Banks and Asset Managers. This is the formula for a match Made in Heaven. Conclusion “Every Action creates an Equal and Opposite Reaction” Career development results in business success. Bad loans result in foreclosures. Today is the first day of the rest of your life. Build your future on a solid foundation. Pay attention to the cash flowing through your business. Make the best possible use of your time. Take good care of the people who take good care of you. The best time to do anything is right now. ■ Osceola ReVIEW December 2008
Table of Contents Feed for the Digital Edition of Osceola ReVIEW - December 2008 Osceola ReVIEW - December 2008 President's Perspective Knowledge Services News Membership News Association Staff Award Corner Association Executive Perspective Monthly Planner New Affiliate Offices New Real Estate Offices Welcome New Members Osceola ReVIEW - December 2008 Osceola ReVIEW - December 2008 - Osceola ReVIEW - December 2008 (Page Cover1) Osceola ReVIEW - December 2008 - President's Perspective (Page 2) Osceola ReVIEW - December 2008 - Knowledge Services News (Page 3) Osceola ReVIEW - December 2008 - Membership News (Page 4) Osceola ReVIEW - December 2008 - Membership News (Page 5) Osceola ReVIEW - December 2008 - Association Staff (Page 6) Osceola ReVIEW - December 2008 - Award Corner (Page 7) Osceola ReVIEW - December 2008 - Award Corner (Page 8) Osceola ReVIEW - December 2008 - Award Corner (Page 9) Osceola ReVIEW - December 2008 - Association Executive Perspective (Page 10) Osceola ReVIEW - December 2008 - Association Executive Perspective (Page 11) Osceola ReVIEW - December 2008 - Association Executive Perspective (Page 12) Osceola ReVIEW - December 2008 - Association Executive Perspective (Page 13) Osceola ReVIEW - December 2008 - Monthly Planner (Page 14) Osceola ReVIEW - December 2008 - Monthly Planner (Page 15) Osceola ReVIEW - December 2008 - Welcome New Members (Page 16)
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