November 10, 2008
No Pain No Gain
My legs hurt. My back hurts. My biceps hurt. Pretty much every part of me hurts this morning. After an approximate month-long hiatus, I picked back up on my exercise routine this weekend. As is always the case with me, I didn't ease back in, but instead tackled my first workout like I hadn't skipped the last month's worth.
So I'm paying for it now in the form of sore muscles and a tense back. In all honesty, I kind of like that sore feeling, because it reminds me that I'm back to doing something that is good for my body and will bring me long-term positive results. Why can't our markets do the same right now?
Our markets are the ones sitting on the couch with a big bag of chips and a cold brew. They're not doing anything. And because they're not doing anything, everyone is getting complacent. Nobody is in a hurry to get anything done, because they're too busy waiting to see what their competitor or worse, the government, is going to do first.
Our industry once thrived on a shared goal to transact business and make money. Likened to a tennis match, buyers and sellers were constantly volleying back and forth to get each what they needed to fund the deal. Today I'm lucky if I get a return phone call the same WEEK it was placed. Decisions are made "when we get around to it" rather than treated as a matter of priority.
Doing nothing achieves nothing. What is everybody waiting for? We can either fall victim to our own apathy or work together to get these markets moving again. Yes, it is going to be painful. Most everything that's worth anything is. Like those muscle groups getting worked out for the first time in a long time, working through the pain will generate extremely positive results.
Yes, we have a credit problem. Yes, we have a real estate problem. Yes, we have an economic problem. I acknowledge all that. I want to know why nobody is doing anything about it! Read my colleague Matt Reilly's blog from last week: His proposed 'fixes' will probably work, but I haven't read anything about it on CNN or MSNBC yet.
So what can we do? Work hard. Get off the sidelines and start transacting business again. Sellers: Your property isn't worth what it used to be. That's the market - deal with it. Buyers: You know the market, and your pricing reflects it. There is no perfect investment out there - they all have a degree of risk. If you can't handle it, get out of the market. Quit acting like you're a buyer if you're not. Brokers: Dedicate your time to the deals that can close and quit wasting your time on the deals that can't.
Yeah, I know...it all sounds so simple. I thought the same thing when I ran five miles on Saturday for the first time in a month. It was painful, but I made it. As John Mellancamp sang, it hurts so good. No pain, no gain. Get out there and make a difference...I'll be right there, running beside you.
Make it a great day.
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