Lessons Learned From 2011

Here we are at the end of the year. It’s always a good time to sit back and reflect on the past year. I also like to make a quick list of the lessons I have learned over the last year in Real Estate. Here are a few of the most notable.

1. I learned that the days are long, but the years are short. I spent a fair amount of time wishing days away in 2011. Then I look back and it seems that the years have just flown by. I am trying not to make that same mistake in 2012.

2. I learned at 43 to listen more and speak less. This one lesson has served me better than anything else.

3. I learned that there is no harm in asking. Just when you think there is no way a buyer or seller will move one more penny…they do. So I tell my clients, ”What is the harm in asking since all they can say is ’no’?”

4. I learned that you could have the best data in the world and most convincing argument, and at the end of the day the real estate transaction boils down to one thing. What is a seller willing to sell for and what is a buyer willing to pay?

5. I learned that just when you think you have encountered the most difficult buyer or seller, you are wrong. There is one more difficult just around the corner.

6. I learned that every once in a while, you are given a gift. Like a buyer that calls you up, looks at one property, makes an offer and closes with no conflicts or difficulty. Cherish these transactions.

7. I learned that there is no amount of convincing or sense that you can impart to Banks and Investors. Even when the data is all in your favor, Banks/Investors do not have to sell properties at fair market value because they are flush with cash and have lots of options.

8. I learned to take Sundays off (yes, even in the real estate business) so I can have some type of family life. I recommend this to all of my real estate brethren. I can honestly tell you that by taking Sundays off, my business did not decrease one penny. In fact, it got better.

9. I learned to smile more and laugh more in what is a pressure cooker of a business. If you don’t, you’ll soon find yourself on ulcer medication.

10. I learned that you have to give something to get something.

Happy New Year

Dan Polimino

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com