Do you ever look in a real estate display window when you are on holiday? Yep, me too!
In the sales world, the feeling is described as being in “the ether” and presents a big opportunity for someone like perhaps a timeshare sales professional to talk to you about a great product they are selling for a limited time only, likely the offer will be over by the end of the day!
The feeling of wanting to buy something in a holiday destination sometimes wears off, the sales industry calls the situation “Buyers Remorse” and it is an issue that the BC government addressed many years ago by writing in a “right of rescission” to real estate disclosures, giving you a mandatory “cooling off period” on new real estate sales.
Of course the desire to even look at the real estate office window is enough impetus to add some serious value to a real estate market.
One of the reasons we still have a slightly sluggish real estate market is partly because tourism has been struggling this year. I have not seen the actual numbers so I am only relaying the information from conversations I have had with some tourism operators, but weather, global demand and exchange rates have all played a role in slowing our tourism market somewhat.
Peter Yesawich, a very well renowned tourism and resort consultant has been talking in the past few years about the complexity of tourism in todays market. The fact travelers are booking later and later because of the advances in technology and the availability of last minute discounts. He also talks about the fact that majority of travelers are using TripAdvisor as a source for credible information prior to travel and YouTube will likely overtake in a few years. All of this means forest fires and wet springs become an inhibitor at the last minute and some of those situations have been exactly what our tourism industry has been dealing with this year. The net result is we still have less buyers in town than we used to.
With that being said, success is 90% mental and the other 10% is in your head. I remember a story several years ago of a Malaysian female executive at an annual meeting of the worlds most successful executives in a global corporation. In this male dominated meeting she politely listened to all of the men complaining about how tough it was in such a recession to keep their businesses growing and then at the conclusion of the meeting, they presented the lone female executive with an award for being the Top Producer that year.
In the corridor after the meeting, many of the male attendees were walking up and congratulating her on her success. One particular gentleman felt he had to ask the most obvious question.. “How, in such a deep recession, where you able to do so much business?”. Her very humble reply was “I am so sorry, I have never been to one of these meetings before and so I have been listening and learning a lot this weekend, but there is one thing confusing me... What is a recession?”