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2009 is probably going to be a rough year for me and my family.

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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 07:50 AM
Original message
2009 is probably going to be a rough year for me and my family.
We've lost quite a bit in the last year and one of our mainstays in income comes up for renewal this year, a commercial warehouse I lease out to a plumbing wholesale distributor. The housing market and construction grinded to a stop and their business is way off. I'm not sure it will be renewed. This is not to even mention I'm a Realtor. I'm too old for a high paying job because of agism in the workplace and the fact I've spent most my life generating my own income. Despite the prospects, for the first time in a long time, I feel optimistic about the future beyond the immediate due to Obama's victory. It will be just trying to survive the immediate. It's such a strange feeling. For now, I'll just savor the events of this week. We're on the way nationally though it will take a year. I hope DU will keep me sane as usual.

Well enough of my thoughts. Enjoy the history of this moment.
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JohnnyLib2 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 07:53 AM
Response to Original message
1. Hunker down and take care---

(I heard basically the same from my realtor brother. Scary times.)
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 07:55 AM
Response to Original message
2. Do not buy into ageism.
If you have skills that you can demonstrate, you can get a job. Employers today actually prefer older workers because they are far less prone to turnover than are younger ones. The key is being able to prove that you have skills - if you have none, no, you won't get a job. But then again, few people that lack skills will in this economy.

My mother said the exact same thing to me. I told her exactly this. Fortunately, she listened to me, and found a job with an $8/hour raise within a week of sending out a resume.

Honestly, I think there might have been a time and place for ageism, perhaps when jobs were more physically demanding than they are today. But as it stands now, it is more or less a self-defeating prophecy.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:13 AM
Response to Reply #2
6. Where we are stable workers, many don't want to risk us on the benefits side.
Another thing that I run into is that I have been in my own businesses most of my working life. You would think that would be an asset but most aren't looking for that evidently. We shall see.
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:29 AM
Response to Reply #6
7. It's an asset and a liability, frankly.
On the pro side, you clearly understand all aspects of what it takes to run the show.

On the con side, 1) if you're looking for a job, you may or may not be competent in doing so (clearly, there were prevailing issues in your case, but it will still be minimally considered), 2) you've enjoyed independence for quite some time - how are you going to adjust to being a subordinate?, and 3) it's tougher to prove your skills because you haven't had a boss to vouch for your abilities.

By far, #2 is going to be the most difficult hurdle to overcome. There are so many insecure and weak managers out there, they would fear that you'd do so well that you'd take their job eventually. I would probably advise you to apply for jobs where you report directly to the owner or highest possible manager - people that are so clearly set in their jobs that they wouldn't fear you. This fear is really a driving factor for more managers than you would think - be sure to compensate for that heavily in your interviews.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:48 AM
Response to Reply #7
9. I have one ace in the hole in that I worked for the school system
for a few years. But yes, I get the feeling many think I will buck the system they have set up. The standard reply I've gotten in the past when I've decided to try the job market for awhile was that I was "overqualified" or they would ask the question why would I want to come work for them if I had my own business before. Sometimes, I'd just like to say because I like eat.
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RebelOne Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:55 AM
Response to Reply #2
11. Right. I just turned 70 and I am still working full time.
The company I work for just laid off two people in my department. There were three of us. The other two were younger than me. So it all depends on how well you do your job and not how old you are.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 09:24 AM
Response to Reply #11
16. It also depends on if you are on the inside or are applying from the outside
in many cases.
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Ocracoker16 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:04 AM
Response to Original message
3. I am glad that even with your situation you could enjoy this moment
I would definitely hang on to the excitement of Obama's inauguration. Let yourself take in every aspect of this historic event. There are going to be many DUers in similar situations and I am sure that you will not feel alone in your strugggles. Keep posting.
:patriot:
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 09:55 AM
Response to Reply #3
18. Thanks, I'll do my best.
Are you from Ocracoke?
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remember2000forever Donating Member (594 posts) Send PM | Profile | Ignore Wed Jan-21-09 08:05 AM
Response to Original message
4. I'm A Realtor Also....
When I ask A Buyer what they are looking for, a lot of them say "I want to steal something".
I get so angry when I hear this. Don't they know that we are representing some Sellers also?

I also understand that everyone wants to get a "Good Deal" in this market but the ridiculous low-ball offers on short-sales are not worth the paper the contracts are written on.

As Realtors we are working 10 times harder for 10 times less. I feel your pain. The public never understands the huge amount of money we have to shell out to stay in the business. Some Realtors have actually told me that they feel "abused". Until this market turns around I think that I will go back to Subbing School.

Good Luck to you and your family. It's going to be a bumpy 2009.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:10 AM
Response to Reply #4
5. Best of luck to you as well.
Yes, the public doesn't understand our profession at all. First, its the only profession I can think of where the client thinks they know as much as us. Then they think we make too much. I hope the Obama team will listen to some proposal by the homebuilders that have been floating around. I also hope lower interest rates will stimulate activity.
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:31 AM
Response to Reply #4
8. To be fair...
Did you not profit wildly in the overinflated market? Or did you get into the business too late to take advantage?
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 08:50 AM
Response to Reply #8
10. Actually, in recent years, Realtor margins have declined
because some players got in and started doing in for far less rates driving down the compensation you could ask for to keep going.
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remember2000forever Donating Member (594 posts) Send PM | Profile | Ignore Wed Jan-21-09 08:59 AM
Response to Reply #10
12. Right On...This is a "Fun" blog by a Realtor From Kentucky.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 09:02 AM
Response to Reply #12
13. Thanks. I needed that.
So true.
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remember2000forever Donating Member (594 posts) Send PM | Profile | Ignore Wed Jan-21-09 09:10 AM
Response to Reply #13
14. The Public Needs To Know The Reality
of our profession. Glad you liked it!
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 09:17 AM
Response to Reply #14
15. I especially like this part and the other things that follow it
So, lets put this in perspective, How would you like a job where you:
Walk in one day, and they say "Guess what - today we're redoing things here at Widgets, Inc. We're adopting a similar program to what real estate agents use."
"You now have to interview for your old job every 2-3 weeks - and compete against 3 or 4 other guys that are wanting the same job as you - and they may be willing to do it at a much cheaper rate."
"And instead of us paying you a salary - you have to pay us $1200 per month for the priviledge of working here."
"A 40 hour work week? Thats history. You get to work the normal work week during the day time hours the same as everybody else - but you now get the added bonus of working on evenings and weekends when everyone else is off, since thats the only times when they are available to view your inventory."
"That health insurance we provided for you? Provide your own."
"That matching retirement plan? Hah."
"And we're going to pay you on commission - and IF you actually get to the point of getting paid, which is a big maybe, we're taking up to 40% of your check right off the top to stick back in our pockets."

Yep, this is public service announcement indeed. They need to know.
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 09:54 AM
Response to Reply #10
17. Thank you for sharing that - I had been misinformed. (nt)
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remember2000forever Donating Member (594 posts) Send PM | Profile | Ignore Wed Jan-21-09 10:01 AM
Response to Reply #17
19. No Problem With Us. Most of our customers are mis-informed.
Publications by the National Association Of Realtors usually only include "Ra-Ra" "Go High End" tips for the really successful producers. Your mis-conception is highly understandable.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 12:47 PM
Response to Reply #17
26. No problem. I understand. How would you know?
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snooper2 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 10:04 AM
Response to Reply #4
20. I just helped two of my friends buy a house without using a realtor
I bought my first house from a co-worker without using a realtor in 2005

6% - no thanks...

I have a buddy who is retired and contracts part time with Chicago Title...All you need is a good title company. Realtors are a dying breed I'm afraid.






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remember2000forever Donating Member (594 posts) Send PM | Profile | Ignore Wed Jan-21-09 10:22 AM
Response to Reply #20
21. And Yet ANOTHER Mis-Conception......
Buyer's don't pay our commissions. Seller's do. And in this current market some of us reduce our commissions if we are the Listing Agent and have a Non-Represented Buyer. That would be 3%, Sir, paid by the Seller.
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snooper2 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 10:26 AM
Response to Reply #21
22. So, if there is a buyer and a seller
and they both are using a realtor-

Does not both realtors get 3%? I understand if I am buying and "non-represented" the seller pays...


Regardless- just going through the title company directly I've found to be the best way. I do understand that realtors can help sell your house if you need to get out quickly.
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 12:40 PM
Response to Reply #22
24. So, what if the buyer is not qualified? What if the seller
fails to disclose a structural problem? What if the seller wasn't aware of the structural problem? What if the house was worth less than the seller thought? What if it was worth more? What if the buyer didn't know of an impending zoning change? What if the seller didn't either? What if there was a buyer from out of town that could only see houses a short time or only when the seller was at work? What if the buyer isn't a buyer at all but a thief casing a house to rob?

If you want to stay safe and legal, hire a realtor. Most for sale by owner homes I know don't even know its a legal requirement to provide a buyer with a property disclosure statement. Also, buyers don't pay for a buyers agent to represent them, it comes out of the commission received at closing by the sellers agent. Most buyers don't know there is law of agency with the listing agent and the seller and they might disclose information to the seller the buyer doesn't want the seller to know. The exact reverse for the seller dealing with a buyers agent. Find me an agent in today's market charging 6% to list a property and I'll show you an agent without many listings.
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question everything Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 12:46 PM
Response to Reply #4
25. Not only in real estate
We were going to a mall before Christmas to buy something, just to give the retailer some business.

Shoppers do not realize that if retailers slash their prices by 70%, in order to stay in business they have to cut their work force and they put a pressure on their suppliers to do the same.

No, I am not in retail but I would like to see the whole picture.
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bigtree Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 10:39 AM
Response to Original message
23. you've come to a fine point in your own political journey
Edited on Wed Jan-21-09 10:39 AM by bigtree
. . . haven't you?
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