Greator Detroits major real estate slowdowns in the past 30 years:
First - 1980-1984'. interest rates peaked at 18.75% Nov 1981
Second- Persian Golf war 1990. Rates climb into double digits.
Third- 2004' to present. Unemployment at record levels.
During good economic times traditional marketing concepts work. "The basic real estate marketing concept for the last 200 years has been an ad in the paper and a sign on the lawn. Then hope and pray the right individual buyer responds...."
Most of todays real estate agents have not experienced bad times and continue to employ traditional marketing methods. Why does traditional concepts fail in bad markets?
