It is no secret to anyone that the economy is going through a major market correction. Any real estate agent who denies that they are affected by the market downturn is in denial. It was unfortunate and unavoidable that the market went south during the time I was documenting my Potosi listing. There were very few buyers looking at properties. I have never experienced a similar market decline in all of my 11 years of being a real estate agent.
Many agents were running around extremely scared during this time, but I was coping with it in a positive way. It's never smart to act on impulse in this market. It was clear I had my work cut out for me with Potosi, and it was time to figure out a game plan. I'm sure you have all heard the saying "Location, Location, Location" but I determined in my situation, it was about "Food, Food, Food." Everyone loves to eat; especially real estate agents! I decided to cater a broker's open through LA Spice, a top catering company.
The outcome was the difference between night and day. No one showed up to the first open, but when I added food to the equation and the full-page color ad, tons of agents came through. This taught me that it's critical to think outside the box when selling homes in this economy. Even though I didn't get any offers in the episode, the amount of foot traffic surpassed my expectations and I still generated buzz around the real estate community for Potosi—and in business it's all about the buzz!!!