There’s always something to howl about.

Category: Real Estate (page 47 of 266)

“If government doesn’t steer capital into housing, the capital doesn’t disappear; it could fund other job-creating businesses.”

The Washington Post:

Advertised as a way to stabilize the housing market, government-backed mortgage securitization ended up distorting and destabilizing it. The resulting misallocation of resources – evident not only in today’s massive bailout of Fannie and Freddie but also in the vast quantities of land, water and energy wasted on suburban sprawl from Las Vegas to Fort Lauderdale – is a true American tragedy. Today’s housing crisis is an opportunity to make sure nothing like it ever happens again.

Damn straight. This is the Post, so the solution proposed is still WelfareLite, but any movement away from Rotarian Socialism is a move in the right direction.

Real Estate Listings on Google Maps – she is no more.

Just a passing announcement that Google today officially ended Real Estate listings on Google Maps and Place Pages for individual property listings as well. For those playing the home game, here is the relevant information.

So what does this mean? Not much in my opinion. The reason Google dropped these ventures is that they simply were not generating traffic to the map searches. So, the corresponding ripple effect now that they are ceasing to exist will be equally small.

My take is that if a tree falls in the forest and it is a really small tree (traffic wise at least), then there won’t be a very loud noise. 😉

Thoughts?

I’ve made it to the top of Google

In case your wondering the easiest way to make it “fresh” to the top of Google.  Simply move your real estate business across the country, start a new website, and bingo!   I’ve made it to the top in three weeks.  How is that you might be wondering, right?  Easy!  I’m on the top of page 30 for the term, “Boynton Beach Real Estate”.  So I’ve decided to write a blog post about on it. 

Back in Wisconsin I was in the number 2 spot on page 1 of G for a few terms.  Now that I’ve started over because I moved a real estate business, I’ve got no search engine rank whatsoever.  So, in order to climb up the search engine ranks, I am in need of some fellow Bloodhounder help.  I am offered basically anything at this point for a helpful link for maybe a year or so until I can establish myself from down in the tranches and work my way but up the  ranks which will allow me to capture leads and close deals.  For anyone who will give me a sympathy link, I would be happy to return the favor. 

In 6 months, I will be reporting on how many people helped me out and what page I jumped to from page 30. 

Thank you in advance for your help.

Reporting live from the number 1 spot on page 30, I’m Robert Worthington.

Sharks – Pilot Fish – Dinosaurs – And Wishful Thinking

Don’t ya love it when a new way to call something old catches on? Smallish independent real estate brokerages are now often referred to as ‘indies’. Due to lower operating expenses, more agents working at home, and a perceived technology gap the size of the Grand Canyon, they’ll be an important factor in the death of the so-called BigBox (BB) mega-brokerages. In essence, by being meaner, leaner, and effectively leveraging their edge in all things hi-tech — the dinosaurs die the death of a thousand cuts.

And Al Gore invented the internet.

Been hearin’ this for so long I was shocked earlier this month when the phone at the 250 agent Keller Williams office was answered when I called. 🙂 I consider the lead recruiter of that office, a longtime friend, a legit superstar. Also, I’ve known their new Designated Broker since the late 90s or so. When I spoke with ‘Jane’ the recruiter, she laughed at the thought of indies sending her company to the boneyard.

In fact, in her firm’s experience, they’re the ones who’ve not only ended several indie firms’ existence, but absorbed them into the cavernous BigBox operation — often swallowing them whole. Indie owners don’t like hearing that, but it’s a fact about which I no longer become amazed, as it happens too often these days.

Much of the discussion on this topic is skewed by, what are in my opinion, false premises, wishful thinking, and putting the emphasis on the wrong syl-LA-ble much of the time. GM didn’t go off the rails cuz they’re too big, or that other, smaller, more tech-savvy carmakers beat them. They simply didn’t make cars as well as most of their competition.

The false premises used for arguing the imminent demise of the BBs is their ponderous nature, hiring practices, low tech approach, basic inefficiency, and out of control operating expenses. Paradoxically, those are merely the result of the real reason some BBs won’t be with us soon, if they don’t change their ways.

It’s the business model, not the size.

Those who insist on hiring newbies by the gross, while paying so-called Read more

Real estate is a crazy buffet

As the only member of the blogroll who regularly attends conferences like NAR and Inman Connect — or perhaps as the only one who is willing to admit it — it is my special privilege to glean some nugget from these events that I think will be of interest to the BHB readership.

As I was pondering the take away from this year’s Inman Connect in NYC — was it something the excellent David Carr said, or was it watching the 5 Realogy CEO’s get up on stage to talk for half an hour while saying precisely nothing?  — it turns out I got scooped by Bill Geist from CBS Sunday Morning.

Geist, unlike myself, got tickets to the Top 100 dinner…

Taking the Plunge as a Real Estate Broker/Owner

I have been talking for years with Mark Madsen about opening my own real estate brokerage here in the Las Vegas Valley.  I finally stopped talking and took action!  On January 1st, 2011 I officially opened my own Las Vegas Real Estate Brokerage, Shelter Realty Inc.

Prior to making the decision to start my own real estate brokerage, I weighed the pros and cons and spoke with several broker/owners to hear firsthand of their experiences.  I also calculated what I paid my broker for the last two years and what I expected to spend this year if business continued to grow and it was eye opening!  It became evident that the only decision I had was to open my own real estate and property management brokerage.

After making the decision to move forward, I wrote out a business plan and tried to account for everything that needed to be done prior to opening.  Little did I know that it is almost impossible to account for everything!

So, if you’re thinking about taking the plunge like I did, here are top 5 issues that I didn’t account for when I opened my own real estate brokerage.

  1. General Liability and E/O Insurance (More expensive than I estimated)
  2. Business license requirements (As a property manager, you are required to be licensed in all cities in which you manage a property, not just the city in which your office is located, like I had thought)
  3. Client/Landlord Response (It took much longer than anticipated to get back signed addendums from landlords authorizing the transfer to the new company)
  4. NAID Number (I forgot to apply for an NAID Number.  Can’t sell a HUD home without one!)
  5. Peer Support (Others around you aren’t always excited to see you succeed)

Even though it’s only been a few weeks, I feel re-energized about real estate as if I was a newly licensed agent again and I am looking forward to sharing my experiences as a new broker/owner with others.

Is THIS The Year You Grow A Pair And Finally Walk Your Talk?

If that title harshed your mellow in any way, you’re the target audience. Does it sound unfair? Make you feel like you’re being picked on? Poor baby. Compared to much of what’s published on these pages, I’m a relative Mr. Rogers. But the dark cloud messin’ up the mostly silver lining that was my 2010, was the talk/walk ratio with which I constantly was forced to deal. Isn’t shame possible any longer? Does nobody know how to blush? Has there been some sorta immunity from embarrassment pill on which I missed out?

I speak from painful experience. Many of the early years in the business my talk/walk ratio was maybe 8:2 or so. Talkin’ big time while walkin’ in clown shoes is something with which I’m no stranger. I know, cuz I’ve watched me do it.

Hey! I has an idear.

Do most of your talkin’ to yourself. Do most of your walkin’ makin’ things happen — quietly. Most of my mentors were lifetime members of Brutal Mentors Я Us. There were countless times I was ‘gang mentored’ in the truest modern sense of the phrase. They weren’t interested in why things couldn’t or didn’t get done. If you can’t walk your talk, maybe Von’s is hiring they’d say. Actually, they said a lotta stuff a whole lot different than that, but those gems won’t be repeated here. 🙂

Ever get tired of hearing your own empty words?

We all have more or less talent than the next agent. Same with experience and knowledge. Experience doesn’t happen a day at a time. It happens a transaction at a time. Every time you sit down and prospect. Each time you follow up. Every belly-to-belly with a potential client. Etc., etc. Knowledge increases cuz we seek it out, not cuz it gives a damn about us.

Whether or not you have more or less talent than the guy a desk over is literally not worth talkin’ about. Who’s working harder? Who’s learnin’ how to work smarter? Who’s grindin’ it out day after day after day? If the title pissed you off, you haven’t done that yet Read more

The Ten Commandments of Buyer Side Representation

Merry Christmas.  Happy Hanukkah.  Happy Kwanzaa… Festivus… all that stuff.  Lovely… now let’s get down to business.  I’m buying a house.  Along the journey, I’ve paid close attention to how the average Real Estate Agent operates.  I’m sharing these thoughts with my fellow Bloodhounds at the risk of offending some – or perhaps all – of you.  But it all comes from the right place and I hope you enjoy…

Commandment #10:  Have a freaking take.

Are you the type of Real Estate Agent who likes to open doors for clients and then stand silently with a pleased expression as they walk through the home?  If so, I suggest you consider a new profession.  Look, I want to know what YOU think about a home too… that’s one of the reasons I hired you.  I might agree with you, I might not.  But when you have a take, you engage in critical dialogue with your clients.  In my case, I’d trust you more if you tell me what you don’t like about something.  It would make me feel like you’re looking out for me.

Commandment #9:  Don’t tell me you’re a Top Producer.

Because if you are, I probably know that already and all it sounds like is bragging (which most of the time… it is).  Just let your work do the talking for you.  Oh, and here’s just a bit of a peeve… if you’re in the “Million Dollar Club” is that really something worth crowing about anymore?  What is that… 3, 4, maybe 5 houses a year? 

Commandment #8:  Avoid this question:  “So what do you want to do?”

This commandment is closely associated with #10 above.  One agent I was working with loved to interrupt me with that magical question and eventually I told her what I wanted to do:  fire her.  Instead of asking what your client wants to do (which, by the way, they could easily figure out without your counsel)… you ought to continue tossing ideas/suggestions at them.  And if you REALLY want to impress your clients, give them the upside and downside with every suggestion you make.  Then listen.  Simple.

Commandment #7:  Read more

Why Don’t Most New Or Struggling Real Estate Agents Want To Be Mentored?

From time to time many of the contributors here have written about the concept of mentoring from one viewpoint or another. You may be a mentor, or have been well mentored, or both. Maybe neither. In fact, probably neither. My experience has been somewhat anomalous in that I was blessed, early on, with an abundance of first-rate, exceptionally successful mentors, who literally didn’t give a damn about my feelings. Tough? One of ’em was a Marine, a survivor of the Battle of Guadalcanal. When he talked, you listened, then said, “Yes sir, thank you sir, may I please have another?” The guy was funny, but brutal. And boy, was he ‘colorful’. Many years later, after Jim had passed away, Dad told me that Jim bet him he could make me cry.

This year has been an eyeopener for me as it relates to mentoring. You’d think agents, especially the younger ones, would be eager to learn which way’s north on the map from someone who’s been there, done that, been knocked down, yet survived to thrive. As each year as gone by, fewer and fewer agents last longer than a week or so under a bona fide mentor. Most say they want to learn, but when push comes to shove, talk must be converted to walk, and they trip on their own BS. In the last month or so I’ve asked several experienced agents who, as policy, give of their time to mentor, if they’ve seen the same trend. Yes — it was unanimous.

Every single one of my mentors, and there were many, extracted a sacred promise from me to pay it forward. I’ll not live to be old enough to get free and clear of that obligation, though I try.

In the last decade or so, I’ve had several agents ask me to mentor them, as in, “Will you please mentor me?” Three of ’em walked their talk to the end. All three currently thrive. Just a guess, but in the last three years or so, there’ve been at least 15-20 come to me, initiating contact, wanting to be mentored. Read more

Knowing The Difference Between The Sizzle And The Steak

Let’s begin by agreeing on the proposition saying those who try to live on sizzle, not steak, end up losing weight, till, in the end, they’re dead. Sizzle in many contexts can be fun, sexy, interesting, even impressive, but never substantive. In sports, sizzle is often lookin’ spectacular while seldom winning. The strikeout pitcher who barely wins more than he loses. The .300 hitter, 40 homer, 100+ RBI guy who hits below the Mendoza line with men in scoring position, with most of his homers and RBI coming when his team is eight runs ahead or hopelessly behind.

Sizzle ain’t results.

As a baseball purist and a lifetime member of the OldSchool in real estate, I appreciate sizzle, but get pretty damn agitated at those given more or less equal standing with big time producers, based upon a buncha glitter and multi-colored smoke.

As Exhibit A I offer Nolan Ryan

He’s a first ballot Hall of Famer. He threw the ball harder than Zeus threw lightning bolts. He struck out every third person on the planet earth. He threw eleventeen no-hitters. Then there were the stoopid number of 1-hitters. That’s what we purists call sizzle. I’ve done extensive research, and no-hitters still count as only one win. Strikeouts? Apparently they’re the same as all other outs. The winning team in any given game must get the other guys out 27 times in a nine inning game. The rules say an out’s an out. Go figure.

27 years in the major leagues, and he barely wins more games than he loses — 52.6%. He was the Dale Carnegie of pitchers, as he never met a hitter he didn’t walk. Try almost 5.25 every nine innings. If as a hitter you faced him more than five times, he walked you at least once.

His claim to fame from where I stand, is that his freak of nature body, combined with his superb work ethic and his luck with health and injuries, allowed him to pile up pretty much every stat but the one that mattered: Far more wins than losses.

Compare Ryan to Sandy Koufax. The Read more

The first one is free

Hi John,
I am a realtor in El Paso TX.   i need a slogan that is new to our area for an inside cover of a local journal.  got any ideas? It will accompany my photo and the Coldwell banker logo.   I read that you are a contributor to Real estate slogan and marketing.   Please advise.  thank you, <name redacted>

Hi <name redacted>,

How about: “Your home lasso in El Paso”?

your Welcome,

John