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SLUMPS
We've all had them. And if you have yet to experience a slump, trust me, you will. When real estate agents talk about slumps, they are almost always speaking of production slumps. That's because it is much easier to monitor the level of a slump by units, contracts, closings or income. But, there is another type of slump and it may be more damaging than a decrease in production. The second slump we suffer from is an emotional slump.
It's important to recognize what causes a slump. Having sold real estate for fifteen years I have experienced both types of slumps. Some would say, "How can you call it a slump when you're selling over one hundred homes per year?" Simple; it's all relative to what you are used to. You see, production slumps are not always income in nature. Now, they will almost always eventually impact your income in a negative way, but it may not be for weeks or months. In this section I would like to offer a brief overview of the different slumps we experience, how we got there and, most important, how do we get out.
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