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Real Estate Success in a Downturned Market

Today's real estate professionals face challenges that the industry hasn't seen in years, perhaps in the entire history of selling real estate. New housing starts are down as builders struggle with their own issues of rising costs, and a lack of interested or capable buyers. Homeowners, flush with cash from the sale of overpriced homes a few years back, bought houses that they really couldn't afford using variable rate mortgages. These mortgages, of course, were issued when interest rates were low. As the rates began to rise, mortgage payments became untenable and these expensive homes were put on the market. As the law of supply and demand dictates, the glut of homes on the market drove prices down drastically, forcing homeowners to sell at less than what they paid, and in some cases, less than what they owed.

Compounding all of this of course is the meltdown of the sub-prime mortgage market. Greedy lenders, in their pursuit of massive financial gain, granted loans to people who really didn't qualify for them. As these people began to default on their loans, the lending institutions were in turn forced to default on their own obligations. The result - today's economic morass that is being called the worst global calamity since the Great Depression, if not in the entire history of mankind.

In short, it's not a good time to be selling real estate. So what's a real estate professional to do? How do you go about finding success in a downturned market? The short answer is easy - sell something else.

Increasingly, people who make their living selling real estate are seeking alternative careers. In some cases, they seek to supplement their declining incomes as they wait for the market to come back. Others, perhaps the more pragmatic, are moving on altogether. Real estate training notwithstanding, these people realize that they are in fact sales professionals, and that there has to be a better way. Earning an income in real estate is no longer a realistic profession.

As these professionals evaluate career alternatives, many are looking at internet based direct marketing opportunities for a number of reasons. Apart from the huge potential that the internet represents, a home-based direct marketing business can be started while still continuing with current employment. So someone who realizes that change is necessary but isn't quite ready to make the leap can simply ease into it. However, once these individuals see the success that awaits them in their new endeavor, many simply give up real estate and become full time internet network marketers.

Changing any career is not easy. But if you are trying to eke out a living today in real estate, now might be the time to consider it.

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Janet Giacoma is a business coach and marketer who assists serious entrepreneurs in building a profitable online business with multiple income streams. To contact Janet visit: www.TheAbundantAlliance.com and www.TheAbundantAllianceBlog.com

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