Stop Acting Like a Savant it's a Strong Market

I started my morning reading a post on LinkedIn by an agent and all of his stellar results for his clients. How his clients bought a property at $250,000 and it's now worth $450,000, etc, etc. He had quite a list.

I'm not saying that the agent isn't a good agent, but everyone looks good when it's a bull market.

I've been in real estate for 20 years and consider myself just getting started. There are many people I admire like Dick Schlott, Alex Perriello, Ed Krafchow and others that have been through the market cycles quite a few times. You certainly celebrate on the way up, but preparing for the backside of the curve is what matters now.

Brad Inman details the recent misfires and talks about the same preparation in his recent article.

Better, brawls & Zillow: Brad Inman says it’s just the start

Anger is one reaction to shattered expectations, but you can’t pick a fight with an unforgiving market, Inman Publisher Brad Inman writes.

InmanBrad Inman

I got caught not being prepared enough in 2008. It cost me my entire business, my house, materially it cost me everything.

The market won't last forever, so take the advice of someone that has been through at least a few cycles and start preparing now.