In 1993 the commercial real estate market was in a severe depression. Sam Zell, a major real estate investor and the future owner of the Chicago Tribune, coined the phrase “Stay Alive til 95”. His basic message was that “this too shall pass” and that, if you could hang on, the market would recover and success was possible in the future.
Today we face a similar situation in residential real estate. It now seems as if the whole industry is upside down and that the future is bleak. But that isn’t true. Todays market is the result of emotional reactions to a variety of events in 2006 and 2007. It is important for all of us to remember 1995 when the commercial market came roaring back. It is important to know that also in 2007 “this too shall pass”! We may continue to see challenges as we move into 2008 but hang tough and “Hold the Line til 2009”. Use this time to solidify your market position and you will be the go to agent in the future.