The current state of the real estate market is taking everything we once believed about owning a home and turning it upside down. The market is getting so bad that people are willing to take drastic measures just to ensure they can afford the roof over their head.

One sad truth about this market is that many people are actually hoping for a foreclosure. They stop paying their mortgage and just sit back and wait on the bank to foreclose. In the meantime they save up the money they would have put towards the mortgage for an apartment. Many people find this is a great solution because they can't afford their home and moving to an apartment would just make more financial sense. Also home prices have fallen so much that selling would cause them to lose more money then foreclosing. That is a sad truth we face these days.

Looking at this market from a buyer's point of view is also out of whack with what you may think. In the past, homes were sold for the best price. Sellers wanted as much as they could get out of their home. Today, most of the homes on the market are bank owned. The banks do not really care about how much money they get, but rather how fast they can get money. What this has crated is a cash market. Banks do not want to wait on loans and payments. People who have cash can steal a home right out from underneath another buyer who is buying with a loan.

These new lessons in real estate make for a tricky market. Nobody really knows how to act. Everything we once thought about real estate has been turned upside down. It makes this a market that is very tricky to work in. It can be a challenge, but understanding the new way people are thinking and how the market is working these days can make it much easier for real estate agents to make money and see great profits.

Yeah, the market is sure not the best these days, but you are probably selling nice, normal homes. How much harder do you think things would get if you were trying to sell some of the strangest houses on the market. These are not your average family homes. There are floating homes, homes that are built like a castle and homes with all sorts of interesting features, from ice cream parlors to bowling alleys.

Most of the strange homes on the market were once the idea of the original owner. They were eccentric ideas that catered to the owner's preferences and desires. For some reason, though, the owner decided that the home no longer met their needs and put it on the market. Now some lucky or unlucky agent, depending on how you look at it, has the job of trying to sell this odd property to someone else.

Selling a unique piece of real estate is certainly a challenge in any market, but in this market it is almost impossible. Most custom built homes sell for much higher prices than your average home. In a market where everyone is trying to get the lowest price possible and home buyers are sticking with only practical styles of homes, selling a home that boosts an elevator, an amphitheater or a secret tunnel entrance is not easy.

So, when you are having a really bad day and feel like you haven't sold a thing for weeks, just think about those poor agents who are struggling to sell impossible property in a hard market. That will probably make you feel a little better about your situation.


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The current real estate market has everyone wondering if an end is near. It can be tough to make your business progress and grow in a market that is just not performing. You don't have to just take the losses, though. A good agent can flourish in a slow market if they are willing to just put in some extra effort.

Here are some great tips that you can use to make your business a success in a market that seems to be failing:

 Understand that you will have to work a bit harder because easy transactions are far and few between. People may not be coming to you as they used to, so be willing to go out there and drum up your own business.
 Put your best foot forward at all times. Buyers and sellers are going to be very picky. You will have to show them you have the skills and the ability to help them.
 Take this time to make improvements. If you have been wanting to upgrade things in your office or do some rearranging within your business then now is a great time to handle those things. Improving your business will pay off down the road and with some extra time on your hands you can now do those things on your to do list.
 Reconnect with past clients. Send out cards, make calls, get connected with people that you have not spoken to in a while. Work on your database. Clean out inactive contacts and work on updating contact information.
 Look to markets that you may not be familiar with. You should look into markets like expireds and FSBO. It is a great time to expand your knowledge and try something new.

All good agents are going to be working hard. They will be trying to make their business benefit from the slow period. If you want to be part of the group of top agents that will come out of this market slow down, then you have to keep working and not let this market get you down.

There will come a time when a seller wants to discuss cutting your commission. This is never a pleasant topic and one that most agents would rather never deal with. However, in a tough market it will be more likely to come up and you have to know how to deal with it.

Start by being prepared before speaking with a seller or even starting a deal. You need to make sure that you inform sellers about the current market and about pricing. You want to make sure they understand how the market is and what they should expect trying to sell in the current market.

Make sure you know your company’s policy about commission cuts. If you are not sure then find out. You don’t want to end up with a huge problem if you don’t follow protocol and policies set by your company.

Lastly, you have to believe that you are worth every bit of your commission. You need to make the seller see that you deserve every penny of that money. When you believe in yourself and the seller believes in you then commission cuts are not as likely to ever be brought up.

Part of being a top agent is knowing what is happening in the market. One day you may be focused on sellers and the next day you may need to switch to focus on buyers. You just never know where the market will lead you. You have to stay on your toes and keep up with the trends if you want to be on top.

In the current market there has been a lot of focus on REO and short sales. Maybe you have been focusing your efforts in this market. There has been a temporary drop in volume in REOs and this has proven to be hurting many agents who have not adjusted their sales methods to accommodate this change.

Another thing to watch for is the coming wave in REO and foreclosure. This is anticipated to be a nice wave, but what you may not know is that it is likely to be much bigger than what we just saw. You should be working towards moving efforts that direction so you can capitalize on it.

You also should be aware that with the current trends in real estate, some markets may never fully recover. Homeowners have been hit hard by the economic conditions and that has led to a rapid change in many markets across the country. These changes may mean some markets may never regain their value.

These are just a few things that are happening and that may happen in the near future. You have to stay sharp and know what is going on if you want to reach top agent status. Keep up with trends and do your research so you are not wasting time focusing in on markets or segments that are not profitable.