Realtor Emeritus sounds off on making it through tough times
Realtor Magazine has featured another Realtor® Emeritus, L. Harrell Pendleton, who gives his two-cents on surviving the business during tough economic times.
Pendleton, who worked in real estate for five decades, says that when times got tough, his office provided loans to buyers who couldn’t qualify for the mortgages they needed. “This was common in the 1970s,” he told the magazine. “Without us, a lot of people with small-town jobs would not have had the opportunity to own a house.”
For those struggling in the real estate business today, Pendleton said “it’s important to do as many different kinds of things as you can with your business.” Besides selling, Pendleton said he did development and construction, appraisals and helped out with auctions.
He says he often bought homes at low prices and held on to them until he could sell them to the right person.
“People are afraid of their own judgments, and they shouldn’t be,” Pendleton told the magazine.
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