The Un-Easy Real Truth about ‘Easy Money’

One of the most unfortunate consequences of ‘easy money’ is that it makes otherwise healthy, and intelligent people lazy…just plain lazy. I’ll be upfront with my position on easy money. It’s a myth, a trick…an exercise in smoke and mirrors that produces financial hallucinations. It doesn’t exist…and never has.

The joker

The joker

 The myth of hitting the easy money jackpot or reaching the easy money Nirvana persists for a number of reasons. Most notably, our intense desire to wish it to be so. Deep within the human spirit there exists this relentless drive to make things easier.

I think it started when Adam was driven out of garden of paradise and had to toil and sweat to make a living. Ever since then, it seems that mankind has been trying to figure out a way to reduce sweat and toil by any means possible. We’re constantly inventing gadgets to make our lives easier and faster…and usually succeed in simply giving ourselves more to learn how to do!

Easy money could more aptly described as “Lucky money”, Lazy Money and even sometimes Stolen, Dirty Money. Money that just seems to materialize without much effort on the part of the receiver. Money that arrives by virtue of the eternal lotto system of good fortune. Money that has us continuing to stand in line; putting life on hold while we hope that fate will smile our way and dump easy money into our laps.

Many practitioners jumped into real estate because of the lure of Easy Money. Stories of real estate fortunes captured the ears, eyes and minds of millions of Americans. The final result was 1.4 Million real estate agents nationally. Local Boards exploded in membership and dues receipts.

Companies that promised to help you create the magic spell by buying the latest gadget or product to help agents capture the Easy Money Market experienced exponential growth. Home owners also jumped on the Easy Money bandwagon and raked in oodles of money. Most turned around and bought homes they could scarcely afford because money could be made effortlessly.

I remember talking with someone who was literally salivating at how cheap this Easy Money was. Rubbing his fingers and literally smacking his lips in anticipation of future profits. But that’s the thing about Easy Money. It’s a Mirage…a desert mirage. Glistening in the distance, the promise of fulfillment waits…beckons. Upon arriving at the mirage, one finds that all that is left is sand…just plain, old ugly sand.

The truth is that what looks like Easy Money was never an easy catch. Yes, we all love to talk about the overnight success…exclaiming “When did he get that?'” or Where did she come from?” The question which is rarely asked and even more rarely answered is HOW. How does Lady Luck smile on an individual. The hard truth is she rarely does! Every “over night success’ story can tell you that from their perspective, it was one LONG, LONG Night. Hard work, tears, failures, start overs, discouragement and sometimes penny pinching extraordinaire. If you listen and delve deep enough, you’ll learn the truth. There was nothing easy about the process. Often, it wasn’t quick either.

As a child, I scrubbed floors, learned to cook, do laundry, sew, and run a little kiosk business. My parents showed us, by example, what it took to earn money. And then, they allowed us to give it a try. These are lessons I treasure to this day. They always reminded us that “Hard Work never killed anyone.” There were days, I was sure they were lying. Today, I am grateful. Perseverance and Hard Work will deliver what Easy Money never can. A sense of accomplishment.

Today, the Easy Money real estate days are long over. No longer is it possible to simply stick a sign in the yard and load up a listing on the MLS and expect 2-3 offers to magically appear. Home owners who persist with the delusion that they can over price their homes and skimp on cleaning and sprucing up are discovering that buyer’s hard earned cash will not be parted with easily. And…the most annoying thing about easy money is that it seems to develop wings. Like a lottery winner loosing all his earnings…most of the easy money aficionados are not in good financial shape today. Easy come…Easy Go.

The good news is that Hard Work is still paying Big Dividends! Real Estate agents who are willing to work hard, to update their skills and to continue to learn and grow will prosper. Gone are the days when it will be possible to rest on past laurels. Hard Work is no respecter of persons. It pays dividends to who ever is willing to earn them. In our increasingly transparent world, the illusion of Easy Money is doing a Fast Fade…into lights out. That’s not necessarily a bad thing.

Copyright 2007 Audu Real Estate  All Rights Reserved

One thought on “The Un-Easy Real Truth about ‘Easy Money’

  1. I been selling real estate for 32 years. I never seen such a mess that the credit expansion created. It brought people from all walks of life into real estate, like it was a fountain of wealth and alternitives to their jobs. I found lawyers, Doctors, housewives and all walks of life becoming “builders”. They would not start on a small project but amazing big homes. They put in money and borrowed heavily. Way over their head! It was like the 1849 gold rush. You know, it seem to have ended the same way.

    Yes, and now we are back to basics. The worker Bee’s are there sticking it out getting things back to where it was before the home equity loan and crazyness.
    Agents shall and will make deals, the old fashion way, hard work.

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