Many are looking back and reflecting on the year that has just passed, and that is understandable…

My biggest complaint for last year is that I am really tired of listening to the doom and gloom of the media and of most people in the real estate business.. Yes, 07′ was different to 06′ and way different to 04′-05′. It drives me crazy to hear people complain about things they can not change instead of adapting and taking advantage of new opportunities.

Real estate, as a profession, has one of the highest turn over rates of any business. People go out, get a license and think that someone will automatically begin to mail them commission checks. The fact is, to be successful it takes a lot of hard work, knowledge of our contract(s), people skills, determination and a willingness to help others and to represent their interest instead of looking for a quick buck. Long term relationships “pay” much better than short term opportunities. Just like investing in real estate.. The “flippers” went out and made some money for a while but most are now getting their tails kicked. On the other hand, people that invest their time and money in real estate for the long haul can and will continue to prosper. Think about it.. How much did you pay for that house in 2000? In 1995? In 1990?

I recall 04′ and 05′ when builders and some agents decided not to cooperate with other agents or to offer very small fees on the selling side. Not quite as many agents complained because we could “all” make a living in that over heated market. Fast forward a short time and you see builders and others paying up to 10% commissions (or more) for those buyers! The reason for those fees is competition.. A good real estate agent will make all of this competition work for their client! By doing so, the referrals come, the re-peat sales come and before you know it, a “down” market ranks up there (financially) with the “good” years. I know from experience that, in good markets and bad, there will always be people that buy and sell real estate.

I do feel bad for some of the people that have been hurt because of the correction but, there is a small percentage of these people vs. most Americans that don’t (or didn’t) use their home as an ATM.

I look forward to 08′ knowing that there will be challenges AND opportunities in the market.

I also look forward to helping YOU with YOUR real estate needs.

Happy New Year! Let’s make it a great 08′!

About Nick Bastian

Nick Bastian is a 24 year veteran of the real estate industry and enjoys his career very much. Nick is always available to "talk shop" with anyone that may have real estate related questions. "Just Call Nick" at 602-803-NICK (6425) - he's glad to help.
Nick can also be found over on the Phoenix Real Estate Guy blog and on Twitter or out and about in the community making friends and having some fun.

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