There are many successful brokers and sales associates who, in their entire real estate careers have never seen a down market."? For their sake I will define "down market;" it is a time when properties are worth less than they were in the recent past."? Some down markets get so severe that properties are worth less than their present owners paid for them."? This is not a problem unless the owners must sell in the time of the down market."? It isn't your problem unless they call you to help them sell."? Such listing appointments are not nearly as much fun for the salesperson as the opposite type of listing presentation ' you know, when the sellers are making lots of profit."? At some point in the listing presentation the owner will ask the salesperson this heart-stopping question:

"Why should I pay you to sell my property if you can't make me a profit on the sale'

This question is especially difficult to handle if you were the salesperson who sold the property to this owner in the first place, often by implying that he/she would make lots of money when it was re-sold."? The whole world knows you don't control the world-wide financial markets, but you still feel guiltier than if you had backed your car over the owner's new puppy."? At this point in the listing process it is important for you to know and acknowledge a few vital truths:

1. Purchasing real estate is a speculative activity."? The nature of speculation is that there is a chance for gain or for loss."? The owners bought in an "up" period in the market and want to sell in a down period."? This is a textbook method for losing money on investments, not making it.

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2. If the purchasers had bought stocks instead of real estate (another speculative activity) and for some reason chose to sell the stock when it had declined in value, the brokerage house from whom they purchased the stock would not reimburse their loss and would, in most cases, charge a fee on the sale of the stock."?
3. Most clients of stock brokerage firms would not even entertain the ideas that their friendly stock broker would waive his fee because the client was not making a profit or was losing his investment.
4. If the owners wait to sell until there is another up market they will make money on the sale of their property."? If they insist on selling in a down market they will likely not make their desired profit.

So there is only one answer to the question above: "Mr. Seller, the fee you pay me to sell property for you is my INCOME; income I use to support myself and my household."? The money you expected to make on the sale of this property is not your source of employment income, but would have been PROFIT earned from a speculative investment."? I'm sorry your investment is not making you the profit you envisioned when you bought it, but that is the nature of speculation; when you make speculative investments you accept the risk of loss as well as the expectation of profit."

Representing a seller who will not be making a profit on the sale of property is one of the most difficult, gut-wrenching jobs in real estate sales."? It's especially difficult when ALL of your sellers are in the same boat without the proverbial paddle."? They are not going to love you."? They may cry when they sign the contract and/or at closing."? You must be strong in your conviction that you are doing the best that you can to represent them AT THIS TIME."?

If you cannot make this mental leap you will not survive until times get better, when there is another up market and when they will again be happy to see you and will take you to dinner after closing."? The new up market will come, and with it will come new opportunity for you if you can adjust your attitude (and spending patterns) until that great day."? The old timers among you may remember the down market of the 1980s when not only was there severe decline in property values but also high interest rates."? We survived that market and you can survive this one.