"We're in the money...."

Lately I've been humming a few of those depression era songs. They are so bright and positive - perfect for gloomy times. I am, by nature, a positive person. I remind myself that these tough economic times will pass, just as they did in the mid 1990s in Connecticut. The early 90s was a time of bank failures, insurance in crisis and the end of the cold war. It is said that when the Berlin wall came down, it came down on Connecticut. With peace, came a big reduction in government military spending, and as a consequence, job lay-offs. At the time, I would comment that the state of Connecticut was being shaken, and its people were falling off and landing in the Carolinas. It seemed that everyone wanted to relocate. Our recession lasted until 1996, but I continued to sell real estate throughout the period, because people need housing, whether the economy is good or bad.

Housing prices in Greater New Haven are down 10% or so from their highs, but rents are not followng suite. How much are your "potential" clients spending for rent? Have you considered a seminar for renters? Low mortgage rates + great prices = a great time for renters to consider buying. I find, however, that many people have awful credit. You may want to host a seminar on credit in conjunction with a banker or credit union officer. It is a topic of value for the public and can create a pool of potential buyers for you, now or down the road. Mortgage money is available for people who have their financial house in order.

The theme for the day is to stay positive. This market will turn around with time. Practice visualization - it is a great mental exercise. Write down a few sentences that describe your thriving business, with a steady stream of referrals from colleagues and previous clients. The idea is to describe yourself as you wish to be, but keep it in the present, as though you have already achieved it. The mind is literal. If it believes it is successful, your business will be too. Never present a negative side to your clients. You can be professional and state the facts as they exist, but then present the opportunities. When clients say they would rather wait this market out, state that it is almost impossible to time the market, whether in real estate or finance. If they need housing now, you can help them find something within their budget. As April 15th (tax day) nears, point out that they may want or need a deduction for the following year. Fear works against us. I recently heard the term fear described as "false expectations appearing real". Gives you something to think about, doesn't it?

Use this time to think positive and move your business forward in preparation for the next economic upturn.