Well as you are reading this I will be (or will have just finished) dragging my weary body across the finish line after a 26.2 mile run along the coast highway in the Big Sur International Marathon. Having run a marathon before I can tell you I am going to feel like one old dog for a couple of days. But you know, old dogs are pretty smart and they live to play another day.
Making it through the turmoil of our economy and the real estate market qualifies us all as marathoners and surviving it will have us all as “old dogs.” But what does it take to make it to “old dog” status? Well…
• An Old Dog works harder. The dog is focused and organized so as to get the most of the day. Prioritize the highest return. Network – deals come from people.
• An Old Dog is an expert. An expert studies the nuts and bolts of the real estate deal but is also an expert in sale and marketing. Experts gain a reputation as an expert and this attracts business to them.
• An Old Dog takes risks. Old dogs step out of their comfort zones to be creative. People remember creative!
• An Old Dog likes a challenge. An old dog thinks “no” means “not now, but as soon as you convince me, I will say yes.”
• An Old Dog never, never, never gives up. Good markets are easy, bad markets are hard. Part of never giving up is holding on to your passion for what you do.
Take the risk and the challenge. Become an expert (or at least work with one like CDC Commercial.) Work harder than everyone else. You’ll find that the rewards are worth the effort as you drag your weary body across the finish line.
Well, that finish line may be a moving target in this ever-changing economy and market but the race is certainly on. The recovery may at times seem like a mirage in the desert of foreclosures, unemployment, lowering rents and values, and lack of financing. Real estate has always been and always will be cyclical. Recent numbers – namely gains – offer us a much-needed reminder that this downturn, too, shall pass.
• This time last year unemployment was at 10.2% versus 8.8% currently (Nationally – but remains at 10.1% in San Diego).
• Since the February 2010 employment trough roughly 1.7 million jobs have been added.
• Manufacturing capacity (use of facilities) is at 74.3% up from 69.7% last year.
• The S & P 500 has doubled from its March 2009 low.
The improvements we’re seeing might not be dramatic or even permanent just yet, but any step in the right direction is an important one toward restoring confidence among consumers and industry experts (Old Dogs.)
In the near term 2011 will be better than 2010, but only slightly. In years beyond, as new phases of the real estate cycle approach, we’ll see healthier trends establish themselves. As I look ahead, business is going to be leaner (more work done by fewer people) and we’ll be wiser (information access and experience.) It will take dedication and sometimes sacrifices but us “Old Dogs” will achieve our goals in real estate.
So how many Old Dogs does it take to screw in a 100 watt incandescent light bulb? After January 2011 – zero! That’s because starting January of 2012 the 100-watt incandescent light is not being sold anymore. In its place will now be compact florescent bulbs (CFL.) These CFL’s produce 4 times the light, last 10 times longer according to Energy Star; saving us “$6 million in annual energy costs and prevent 9 billion pounds of greenhouse gas emission – equal to about 800,000 cars.” But two notes – don’t throw them in the trash (take to Home Depot or Wal-Mart for safe disposal) and if you still have an Easy Bake Oven keep a couple of old incandescent around because the CFL’s won’t create enough heat to bake your cookies.
Even if you don’t have an Easy-Bake oven anymore you are still young at heart if you live in San Diego, according to a national survey released last month. RealAge.com released a list of the Top 10 Metropolitan Areas where healthy lifestyles make people two years physically younger than their chronological order, and San Diego was seventh on the list. I heard this week that the first person to live to the age of 200 has been born and is walking amongst us…Now that will be one Old Dog! I hope you Old Dogs enjoy this months story…
Old Dogs
A wealthy old Gentleman decides to go on a hunting safari in Africa, taking his faithful, elderly dog named Killer, along for the company.
One day the old dog starts chasing rabbits and before long, discovers that he’s lost. Wandering about, he notices a leopard heading rapidly in his direction with the intention of having lunch.
The old dog thinks, “Oh, oh! I’m in deep doo-doo now!” Noticing some bones on the ground close by, he immediately settles down to chew on the bones with his back to the approaching cat. Just as the leopard is about to leap, the old dog exclaims loudly, “Boy, that was one delicious leopard! I wonder if there are any more around here?”
Hearing this, the young leopard halts his attack in mid-strike, a look of terror comes over him and he slinks away into the trees. “Whew!”, says the leopard, “That was close! That old dog nearly had me!”
Meanwhile, a monkey who had been watching the whole scene from a nearby tree figures he can put this knowledge to good use and trade it for protection from the leopard. So, off he goes, but the old dog sees him heading after the leopard with great speed, and figures that something must be up.
The monkey soon catches up with the leopard, spills the beans and strikes a deal for himself with the leopard.
The young leopard is furious at being made a fool of and says, “Here, monkey, hop on my back and see what’s going to happen to that conniving canine!
Now, the old dog sees the leopard coming with the monkey on his back and thinks, “What am I going to do now?”, but instead of running, the dog sits down with his back to his attackers, pretending he hasn’t seen them yet, and just when they get close enough to hear, the old dog says… “Where’s that damn monkey? I sent him off an hour ago to bring me another leopard!
Moral of this story…
Don’t mess with the old dogs…age and skill will always overcome youth and treachery! BS and brilliance only come with age and experience.
