Adapting to a new normal
I have experienced a couple of economic recessions in my lifetime.
The first happened in 1997, when the Asian financial crisis hit the region. Then in Singapore and 7 years old, I obviously can’t remember much of it except that my dad lost his job as a wood grader in Indonesia and so from seeing him every other weekend, I saw more of him at home. My mother had to pull her weight to bring income for the family. She started home tuition classes. I remember going with her around our neighborhood, sticking up paper signs on walls advertising her services.
The second, happened in 2008. That I remember a little more clearly, as I was already 18. I remember the collapse of Lehman Brothers during the period that I was sitting for my GCE A Levels examination (British equivalent of SATs). Housing prices slashed; investment properties went on fire sale. Still, the repercussions weren’t personally felt, as my immediate concern was getting into college. My family and I were already living frugally; our lifestyle did not change.
In the midst of this global pandemic that is Covid-19, will I now experience my third recession in full responsibility, unsheltered by youth? Is this truly the coming of a recession “long overdue”? Now at 29 and a full-fledged adult, I have no safety net to rely on except my own wits and resources.
As a person who is self-employed, my fate as a real estate agent is tied to my networks. I have to move – literally and figuratively – to bring income.
And for a moment last Thursday, I was afraid. Fight, or flight?
I’m not one to perish. Fight. I have always chosen fight.
I checked the MLS for open houses in the area, spoke to my Seller about a price reduction and scheduled an open house for my listing in East Boston. I’d plunge right into the competition to get my Seller’s property sold.
My husband however, jolted me to my senses. He insisted that I shouldn’t organize gatherings at a time where people need to be social distancing. He asked me to consider what an open house in a 3-family building would mean for the two other owners who did not sign up to be exposed to crowds. He made me think about the “what ifs”. Could I bear it if my open house turned into a hot spot for contagion? Could I live with myself if an elderly person came… and died as a result?
I couldn’t. Thank God for spouses.
It has always been said that real estate is more than houses- it’s about lives. That was my moment for me; my assimilation that I am not merely a conduit for home sales. My actions affect lives.
For such a humble profession, it was certainly a weight to bear.
It made me realize that I have to strike a fine balance between serving the interests of myself, my family, community, that of my clients’ and – in a fragile time like this – also consider repercussions to the networks of all of us combined.
And it doesn’t mean that I have to be holed up at home “doing nothing”. I actually came up with a solution for achieving this balance, which is least to say, hardly mind-blowing or creative:
Longer duration for open houses. Dilute the crowd.
Staggered viewings for 2 or more attendees.
Private showings for Buyers.
Make everyone wash hands before and after viewings.
Wipe down door knobs and common surface areas before leaving.
If this is going to be the new normal for the months to come – a true recession – I hope I’ll ride through it beholden to my values and not of the dollars and cents.
Ending this post with my favorite finds
Words by Kitty O’Meara, reposted from Cara Delevingne’s Instagram
This 2003 “SAR-Vivor Rap” that broadcasted everyday during the SARS outbreak in Singapore.
It had everyone singing to the tune of “SARS is the virus that I just want to minus” at one point. Still a delightful, nonsensical, practical and embarrassing piece of RAP that is incredibly uplifting. Well, SARS or Covid-19, virus is virus. This is still relevant.
I LOVE IT, and hope you do too. :)
Disclaimer: Phua Chu Kang is a TV character, played by an iconic Singaporean actor, Gurmit Singh. Phua Chu Kang is NOT reflective of the regular Singaporean!