IT WILL NEVER BE THE SAME SO STOP HOPING IT WILL! / Peter Lorimer - The Real Estate Entrepreneur Podcast

Greetings and welcome to the Real Estate Entrepreneur Podcast, I am your host Peter Lorimer, former hit record producer, now host of the show Stay Here on Netflix and owner LA’s most creative boutique real estate firm, PLG Estates.

How do we go back to work aggressively, in service, and safely?

It has been a devastating time, and I think many of us have chosen to view this as a reset.

Much like in 2008-09.

In 2008-09, I'd been in real estate for a few years. I was just getting my grip. And then the crash came. And when it happened, we all had the same feeling that we did a couple of months ago.

And here's what happened a little over a decade ago: it was about the pivot. When an event occurs, we can rebel against it or we can adapt. If we adapt and evolve, we flourish.

Read this before you go further: safety first. For everyone.

There are knowns and unknowns, but those that pivot will prevail.

Interest rates are the lowest they've been in history. And most of the buyers that are out are the serious ones. And, we don't know what's going to happen in a few months.

I always imagine the home is mine when working with a seller, and in many cases right now, I'd say "put it on the market".

Get back to work, pivot, stay safe, and tune in to this week's episode of the Real Estate Entrepreneur.

 

Golden Nuggets from this episode:

[03:11]” When an event occurs or evolution happens, maybe it could be argued that this is evolution, right? The evolution of commerce in the world has been forever changed. So we can rile against it and say: -"no, no, no, no. I'm just going to wait until it goes back to how it was". Or, we can adapt.”

[05:13] ”I still have clients, even though I own the brokerage, I'd like to have boots on the ground. I'd like to be in the trenches with my agents."

[07:21] "There are probably 50% of the buyers that were out in January and February. I imagine that will last until August when I think 75% of the buyers will be back out."

[09:57] “We're not doing open houses. The buyers that are out are legit."

[12:12] "I am worried about it coming back because flu season is just a few short months away. So if your sellers want to try and time the market, it is a big fat unknown from October on is a big fat unknown."

 

Thanks for being here,

PL