{"id":2301,"date":"2007-12-02T20:05:35","date_gmt":"2007-12-03T03:05:35","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2301"},"modified":"2007-12-02T20:05:35","modified_gmt":"2007-12-03T03:05:35","slug":"turning-2s-into-10s-learning-in-interesting-times","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2301\/turning-2s-into-10s-learning-in-interesting-times\/","title":{"rendered":"Turning 2’s Into 10’s — Learning In Interesting Times"},"content":{"rendered":"

It’s been an interesting year, in the sense of the old Chinese proverb about interesting times. Interesting in this context meaning hard times. Mortgage brokers are scrambling, trying to give great service while simultaneously discerning between serious borrowers and serious time wasters. Real estate agents, many of them in he business since 2000 or later, never having experienced even a normal market, are being harshly introduced to reality. I’ve recently learned some of the agents with whom I’ve become friendly during the great times, have taken 8-5 jobs. Many of them are wondering how long they can hang. <\/p>\n

Turns out real estate, lending, blogging, marketing, and all the other jobs, require expertise and hard work. Go figure. <\/p>\n

Another surprising development has been how experience has also quickly risen to the top as a quality attribute the last couple years. (Think my tongue almost penetrated<\/em> my cheek on that one.)<\/p>\n

Because there is not nearly as much business going on these days, the small things are creating big problems. I don’t mean by themselves though. It’s because, in my opinion, people are reacting poorly under pressure. A small problem, a 2 on the 1-10 scale, will arise. They respond though, as if it’s a 10<\/em>. They do this because even a small threat to their acutely reduced income, scares them silly. Over time, their credibility suffers, as nobody around them takes them seriously. No matter how it’s framed, a problem worthy of only a 2 rating, doesn’t become a 10 just because it’s treated that way. People aren’t stupid — they notice — sometimes. In an alternate scenario, others become infected by this overreaction virus. Now all around are behaving as if the 2 is in reality a 10. I’ve seen easily solvable problems become deal killers — they died from the dreaded, ‘2 into 10’ fever.<\/p>\n

It can get ugly when that happens. Egos get involved, emotions take over, and before anyone realizes it, the elevator has crashed thunderingly into the basement. <\/p>\n

My first really tough market when everything went to hell in a hand basket, began in the last quarter of ’79. Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s been an interesting year, in the sense of the old Chinese proverb about interesting times. Interesting in this context meaning hard times. Mortgage brokers are scrambling, trying to give great service while simultaneously discerning between serious borrowers and serious time wasters. Real estate agents, many of them in he business since 2000 or later, […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,5,10],"tags":[],"class_list":{"0":"post-2301","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-real-estate","8":"category-realty-reality","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":11202,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11202\/agents-of-change\/","url_meta":{"origin":2301,"position":0},"title":"Agents of Change","author":"Glenn Kelman","date":"February 8, 2010","format":false,"excerpt":"Don Stewart posed an interesting question this morning about whether real estate is changing top-down from the broker or bottoms-up from the agent. In a post about how Redfin sees the real estate industry changing, Don suggested we had focused too much on the laws, the brokers, the MLS data\u2026","rel":"","context":"In "Dual Agency"","block_context":{"text":"Dual Agency","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dual-agency\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2811,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2811\/real-estate-is-entertainment-%e2%80%93-are-you-entertaining\/","url_meta":{"origin":2301,"position":1},"title":"Real Estate is Entertainment \u2013 Are You Entertaining?","author":"Dave Phillips","date":"March 20, 2008","format":false,"excerpt":"Last week I heard my pal Walt Baczkowski, CEO of the Metropolitan Consolidated Association of REALTORS\u00ae, make the statement, \u201creal estate has become entertainment.\u201d\u00a0 The statement struck me like one of those V8 smacks to the head.\u00a0 The more I thought about it, the more the statement became true.\u00a0 Just\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":789,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/789\/maybe-we-need-more-salaried-agents\/","url_meta":{"origin":2301,"position":2},"title":"Maybe We Need More Salaried Agents","author":"Doug Quance","date":"December 21, 2006","format":false,"excerpt":"I've been running some stats on advertising, Google rankings and agent performance over the last couple of days. One of the top agents in Atlanta has not had a selling-side transaction all year. Very unusual for this agent. Another top agent - who ranks very high in Google and has\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5709,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5709\/rethinking-real-estate-web-20\/","url_meta":{"origin":2301,"position":3},"title":"Rethinking Real Estate Web 2.0","author":"Thomas Hall","date":"November 20, 2008","format":false,"excerpt":"What do consumers want? I believe this question has been asked ten times to Sunday as it relates to real estate. I recently read Marc Davison's recent blog post at 1000Watt Blog summarizing the results of that exact question, What do Consumers Want?.\u00a0 The report, commissioned by Keller Williams, was\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2718,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2718\/when-the-dog-bites-the-hand-that-feeds-it\/","url_meta":{"origin":2301,"position":4},"title":"When The Dog Bites The Hand That Feeds It","author":"Doug Quance","date":"March 7, 2008","format":false,"excerpt":"The Race To The Bottom Is Getting Really Crowded Some twenty-odd years ago I worked in the petrochemical engineering industry as an electrical designer - but we quit building oil refineries, so thousands of engineers, designers and draftsmen like myself were put out of work. Hey - that's the breaks.\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18567,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18567\/overnight-news-in-the-easiest-real-estate-market-ever-zillow-discovers-that-real-estate-brokerage-is-hard-work-and-decides-to-take-a-breather\/","url_meta":{"origin":2301,"position":5},"title":"Overnight News: In the easiest real estate market ever, Zillow discovers that real estate brokerage is hard work and decides to take a\u00a0breather.","author":"Greg Swann","date":"October 19, 2021","format":false,"excerpt":"Here's an interesting question: Given that we know that the iBuyers gouge buyer's agents, could it be that they also gouge all their other vendors? This could explain why Zillow has discovered that it is unfit for the house-flipping business: It can't get rehab contractors, and, for bizarre reasons unknown,\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2301"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2301\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}