One of the most unfortunate consequences of "easy money" is that it makes otherwise healthy, and intelligent people lazy...just plain lazy. I'll be upfront with my position on easy money. It's a myth, a trick...an exercise in smoke and mirrors that produces financial hallucinations. It doesn't exist...and never has.
The myth of hitting the easy money jackpot or reaching the easy money Nirvana persists for a number of reasons. Most notably, our intense desire to wish it to be so. Deep within the human spirit there exists this relentless drive to make things easier.
I think it started when Adam was driven out of garden of paradise and had to toil and sweat to make a living. Ever since then, it seems that mankind has been trying to figure out a way to reduce sweat and toil by any means possible. We're constantly inventing gadgets to make our lives easier and faster...and usually succeed in simply giving ourselves more to learn how to do!
Easy money could more aptly described as "Lucky money", Lazy Money and even sometimes Stolen, Dirty Money. Money that just seems to materialize without much effort on the part of the receiver. Money that arrives by virtue of the eternal lotto system of good fortune. Money that has us continuing to stand in line; putting life on hold while we hope that fate will smile our way and dump easy money into our laps.
Many practitioners jumped into real estate because of the lure of Easy Money. Stories of real estate fortunes captured the ears, eyes and minds of millions of Americans. The final result was 1.4 Million real estate agents nationally. Local Boards exploded in membership and dues receipts. Companies that promised to help you create the magic spell by buying the latest gadget or product to help agents capture the Easy Money Market experienced exponential growth. Home owners also jumped on the Easy Money bandwagon and raked in oodles of money. Most turned around and bought homes they could scarcely afford because money could be made effortlessly.
I remember talking with someone who was literally salivating at how cheap this Easy Money was. Rubbing his fingers and literally smacking his lips in anticipation of future profits. But that's the thing about Easy Money. It's a Mirage...a desert mirage. Glistening in the distance, the promise of fulfillment waits...beckons. Upon arriving at the mirage, one finds that all that is left is sand...just plain, old ugly sand.
The truth is that what looks like Easy Money was never an easy catch. Yes, we all love to talk about the overnight success...exclaiming "When did he get that?'" or Where did she come from?" The question which is rarely asked and even more rarely answered is HOW. How does Lady Luck smile on an individual. The hard truth is she rarely does! Every "over night success' story can tell you that from their perspective, it was one LONG, LONG Night. Hard work, tears, failures, start overs, discouragement and sometimes penny pinching extraordinaire. If you listen and delve deep enough, you'll learn the truth. There was nothing easy about the process. Often, it wasn't quick either.
As a child, I scrubbed floors, learned to cook, do laundry, sew, and run a little kiosk business. My parents showed us, by example, what it took to earn money. And then, they allowed us to give it a try. These are lessons I treasure to this day. They always reminded us that "Hard Work never killed anyone." There were days, I was sure they were lying. Today, I am grateful. Perseverance and Hard Work will deliver what Easy Money never can. A sense of accomplishment.
Today, the Easy Money real estate days are long over. No longer is it possible to simply stick a sign in the yard and load up a listing on the MLS and expect 2-3 offers to magically appear. Home owners who persist with the delusion that they can over price their homes and skimp on cleaning and sprucing up are discovering that buyer's hard earned cash will not be parted with easily. And...the most annoying thing about easy money is that it seems to develop wings. Like a lottery winner loosing all his earnings...most of the easy money aficionados are not in good financial shape today. Easy come...Easy Go.
The good news is that Hard Work is still paying Big Dividends! Real Estate agents who are willing to work hard, to update their skills and to continue to learn and grow will prosper. Gone are the days when it will be possible to rest on past laurels. Hard Work is no respecter of persons. It pays dividends to who ever is willing to earn them. In our increasingly transparent world, the illusion of Easy Money is doing a Fast Fade...into lights out. That's not necessarily a bad thing.
Copyright 2007 Audu Real Estate All Rights Reserved
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Lola Audu, is the Designated Broker & Owner of Audu Real Estate. Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area. You can contact us via e-mail @ info@auduhomes.com or by phone at 616-791-0511. Thanks for visiting our blog. Here are links to some of our most popular posts for you to enjoy!
The ABC's of Selling Short Sales in West Michigan
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The One Week Shortsale Miracle!
The Convenience Factor...Would you Buy Your Next Home at the Grocery Store?
Six Hidden Issues Which Can STOP You From Moving from Here...to There

Lola,
This is a totlly wonderful post! I can not tell you how much I enjoyed reading it and say yep to my self the whole time! Thank you.
I love that you stress hard work and that there is so much more then money. I also like the educational part and can not agree with you more!
I will be keeping this post in mind for some time.
Lola, Your customers will surely appreciate your knowledge. I'm sure your company will not be one of those bitting the dust!
Hope you get lots of folks at the blogging seminar!
Hi Lola,
My sentiments exactly.You hit the nail...right on the head. Good article.
David Kelso
Yep. To maintain the same level of income now takes twice as much hard work.
Work harder and work smarter. That's all it takes today.
Lola,
I have an interesting take on this. I started in Real Estate during the slowing down period and went full time in the midst of the mortgage problems this year. I'm not worried though. I work hard for my clients and they love me for it. I have gained a bit of a following and the referrals are keeping me busy. I totally concur with your post. Hard work will be rewarded. Thanks.
Hi Rosario, You're right! That's why the lottery continues to impoverish multitudes more than it enriches.
Hi Gary, Thanks for your comment. It was easy to operate under the delusion that this was an easy job several years ago. I suspect that those who will survive and thrive are those who determined to cultivate the discipline of hard work while it was a little easier to do so.
AMEN LOLA!!! I could NOT have said it any better!! I have a writing on my wall that reads.... "You do not get to the top by reaching for what's on top..... you get to the top by taking care of what's on the bottom!!" I interviewed a young lady over the phone who wants to place her license with us.... the first question i asked was WHY? Is it Because you think you're going to make money fast?? People sure have the incorrect understanding!
Well written and a deserved gold star.... as usual! Keep saying it!
Lola, I LOVE this post!!! I started work when I was 12 and have NEVER been between jobs. I have kicked and clawed my way to success and now that I have some success I kick and claw to maintain it. If I didn't work every day I truly don't know what I would do. What I do know ....is how to work. You could plant me anywhere in the country and I will find a way to make money. And it will be money earned.
Well done Lola.
Sage words that needed to be said. This is so on target, Lola. But so many feel they are entitled, or simply expect they will be handed what they want without the effort. Unfortunately so much of that philosophy seems to have been learned at home, just as the right attitude about work and making money is learned. Thanks for sharing your thoughts - a wonderful post to read.
Jeff
Lola, I'm with you. When other agents say, gee Marie you are so lucky.
I respond, yes I am, and I've noticed that the harder I work the luckier I get!
And that's why the good ones keep getting client's. Hard work and effort are what's needed in this market...or the one before where it was "easy" money. In any case, in the best interests of the client works for me....everything else follows.
Desiree, Thanks for your comment and kind compliment. The message about putting in the time is a hard one for some people to hear. There is no such thing as an overnight success. What we're looking at when we think we see an overnight success is a very small part of a much larger story.
Brian, I love that saying....LOL...It's so true. :)
AMEN Missy! So enjoyed our time together yesterday & I'm so glad that the flowers are holding up beautifully. I still can't believe I forgot MY camera in the car!! :)
Lola,
EASY MONEY!!! I hear that so much, and it is so far from the truth. Our industry is very difficult and competitive. This is a great post as usual.
Lisa, Thanks for your comment. Passing on a good work ethic to our children is a wonderful gift.
You're right about your observation Bob & Carolin!
So true... What a great article, I enjoyed reading it. Keep up the hard work.
Jay
www.RealEstateSticker.com
I would say making a lot of money in Real Estate will again happen in the future, as it always cycles, but it will be quite a while before it happens for many!
Deb
Lola, steady work and smart work doesn't need to be hard work, but it pays off. I eschew EASY MONEY. I believe that if it is worth having it is worth working for. But again, it doesn't need to be HARD.
It is all about attitude. With the proper work ethic good productive work is a joy. I believe that you (Lola) get joy out of your good productive work. And it is obvious that you are a productive worker.
Bill Roberts
Lola, Wonderful post and so true...the lucky thing is...if you truly enjoy what you are doing the "hard work" gives you a feeling of great reward.
WOW>>>>> I really like your post... I believe that if you want something you have to work really hard for it... and in the end it will pay off..... If it comes EASY it will leave EASY.....I know that if you work and put your heart into it you'll be REWARDED .
Thanks for setting us straight.....
I so appreciate your perspective! Any money that's 'easy' isn't worth having.
Tough business makes for tough agents, and I'm glad to be one of them
Hi Jennifer, thanks for your comment. Unfortunately, there can be some unfortunate consequences of ignoring this truth.
Diane, Wow! Great story, thanks for sharing it. I'm struck by how this young lady from one of the best universities in the world understood what was necessary to succeed. We would all do well to learn from her example.
Thanks for stopping by to read and comment, Ray.
Hi Jay, Thanks for your comment.
Debra, Thanks for stopping by. There is still a lot of money to be made in real estate...it's just going to be made in ways that are perhaps very different than what our industry has become accustomed to. Those who are willing to work hard and adapt appropriately will have no shortage of work to do.
Hi Bill, Thanks for your comment. What I am seeking to convey in this post, is that considerable effort will need to be expended to respond to the rapid changes that are affecting our industry. Although, it will not be primarily "physical" labor, it will require an investment of time, energy and resources to acquire the skills which will be needed to compete effectively in the future. You're right...I do enjoy what I do...but it sure ain't easy. :)
Absolutely Therese! Thanks for your comment.
Yes, Renee....in a way, this message is definitely in opposition to what is "preached" by the certain facets of the popular media. I think this is detrimental particularly to young people.
Gita...Thanks :)
Dana...Not only will you make it...you're set to thrive. You Go Girl!! :)