Ideas and Opinions from Donald Trump and TrumpU Faculty.
The 3 D's of Real Estate
The real estate market is such these days that one thing has become apparent: If someone is selling in this market it’s usually because of the 3 D’s:
- Death,
- Divorce
- Debt
When the value of property is low, it is common sense not to sell it. You hold onto it until the realty market changes. Therefore it’s common sense to notice that those who are selling are encountering one of the 3 D’s just mentioned. Otherwise, their actions would be nonsensical.
It doesn’t take a sixth sense to figure out what is going on. Maybe it’s clearer to me because I’m experienced in real estate and I’ve seen these market cycles before, and when one of the 3 D’s surfaces in someone’s life, there’s usually a fallout of some sort to be expected.
The consequences of departures, divisions and deficits can be dealt with successfully if one is prepared for them, and if one is not, then one has to learn to deal with them. One way to view life is to see it as a learning process. If we remain students who are teachable and open to what is out there--which will include the good and the bad--we’ve got a much better chance of success.
Lawyers are highly educated and yet they practice law. I always found that term interesting. They know it’s a practice, just as doctors have a medical practice. That means no one knows everything, although they can be very accomplished and do tremendous things. They can see things because of their knowledge and experience that might not be so obvious to the untrained eye or mind.
Let’s keep our minds on our learning curve and we’ll all be the better for it.
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15 Comments
Here's something that you may not know about musicians that kind of ties in with the doctors and lawyers practicing. Musicians are always practicing, even when they are on stage in front of an audience. It's called a "practice performance", and they are paying attention to the audience's reactions to the music and learning from those reactions. That's how they know what to play and how to play it, or what the audience wants to hear.
excuse me I m senegalese and my english is not better but I try
What I think is very important is to learn from your mistakes. You make a mistake. Ok. We all do mistakes. But, analyze what went wrong and then you move on & try to remember that the next time. Then you have done what you can. Unfortunantely mistakes have consequences. But those are out of our control.
By the way, about learning. I was talking to my co-worker the other day and he said that he feels when he just has a job, he feels like he's not going anywhere because noone is telling him what to do and so on. So therefore he was now taking a filosophy course in a school. I just thought, what a great way to go nowhere fast. I mean, you can't just sit on your ass in school thinking "I'm learning, I'm on the right path!" and expect success to come your way. In the end it's up to you.
Have a nice day!
I look forward to a grittier version that gives me particulars I may have overlooked.
Death is not shameful. Divorce is a better alternative to murder. Debt is not understanding that what you earn must be more than what you spend, but Deception is shameful, should be considered offensive like murder, worse than being in debt, yet more people use it to pretend they are rich, smart, and deserve inflated compensation even when their business is losing millions of dollars like the CEO's of car businesses and the CEO's who get golden parachutes along with a government bailout for something they were already paid to do, but didn't.
Don't worry though, they're still going to get to keep their golf memberships.
you are absolutely right! I have lots of owners that are selling because they are getting divorced or somebody in the family has just recently passed away. Only a few are affected by the financial crisis or lost money in the stock market. But most of the owners even took their house off the market because they are not forced to sell and rather wait until the time changes again.
Regards from Mallorca, Spain.
Marcel Remus
I would add one more group to your list, although instead of starting with D they start with I. Would you agree that Catastrophic Injury and Illness also create the need to sell in a poor market?