BloodhoundBlog

There’s always something to howl about.

Archives (page 111 of 372)

How To Be More Honest: Accounting For Morons.

The worst thing that ever  happened to me was November of 2003.  I made, as a Realtor $57,000 in closings (without a team) in one month.  In early December, I added another $19,000 to that pile of money.  Because of my phone banging good times, I didn’t have expenses or marketing that created it, my willingness to endure rejection, and a booming economy created that opportunity.

I remember that number, those numbers because I added them and re added them.  It made me a big dude.  I was happy and proud about a $76,000 run in about 20 days.  Proved that banging the phones works, validated me as a person.   I was king of the world, at 27.  Hot wife, money in the bank, Acura RL in the driveway.  What’s not to dig?  (Heh).

Yesterday’s Awards Don’t Pay Tomorrow’s Bills

Well, the fact that you read your own press.  See, I took most of December off.  “I earned this break.”  I said as we went to Oregon.   Bought a new house on a stated deal, pissing $40k on a down payment (Because you know, I now make $60,000 a month, you know?).   Didn’t work in January because I had myself convinced that I was earning $60,000 a month.  I was that good, I could turn it on.  Get it?  I rounded up to a number I only did once, and didn’t worry because that’s who I was. (In my head).

Payments came due, and my money was gone, mostly on BS and needless luxuries, and maintenance for the rentals we’d bought.   But I didn’t worry, because … wait for it… I made $60,000 a month.

It was true.  I made nearly $60,000 a month…ONCE.  The rest of the year was just over 5 figures per month, with two months that were less than $3,000.  But my ego declared that I was a heavy hitter, banging the phones and making $60,000 a month.  It wasn’t till late February, only 1 closing on the year that I began to worry.   I had 3 crap listings, no buyers, and my customer service had become rake like.

But, a little Read more

The news media may insist that the real estate market has turned the corner, but my attitude toward work is simple: “Just say yes!”

This from my Arizona Republic real estate column (permanent link):

We represented the buyers for a million-dollar house, our first, that closed this week. A week from now, we will be listing a million-dollar home, also a first for us. We are carrying two listings at $450,000 right now, with another to come, and we will be listing another home at $800,000 shortly.

But also this week, I sold a property for $65,000. Just a few weeks ago, one of my listings sold for $27,000.

Am I schizophrenic? I hope not. But I am scared to death to say no to anyone right now.

Salespeople like to say yes. It’s not in our nature to turn people down. We like to make people happy if we can.

But I have no idea when this recession is going to end, so I don’t want to pass on any opportunity that might present itself.

Here’s the funny part: We’re living with a foxhole mentality, but 2009 is going to be our second-best year since we came into the real estate business. We’re not rich by any means, but we’re making more money than we have in the past three years.

But here’s the unfunny part: Virtually all of our income for 2009 is coming to us in the second half of the year. Our business was all-but-moribund in the first two quarters, and we came much too close to losing our own home.

So I am not proud, bashful or shy. If you have a real estate problem, I’m ready to talk about it. We’re working sixteen hours a day, at least, seven days a week. We haven’t taken time off in three years, and I don’t know when we will take our next vacation.

The job is survival right now, and I know we’re not alone among Realtors in thinking this way.

I’m nobody’s bear, and I would love to believe all the cheerleading I hear in the news about the real estate market. But my strategy for now is to just say yes to every opportunity I get to earn a living.

 
Spread the word: Click here for a printer-ready version of Read more

Flying beyond flyers, here is our first full-color brochure for our first million-dollar listing

A week from today, we will list our first million-dollar residence. (The web site is a placeholder as I write this. We’ll begin to populate it next week.)

But the home is a spectacular specimen, and we wanted to do something more to bring that out. So yesterday we put together our first full-color brochure for a home.

That’s the outside face. Full-size is 17×11″, with a fold in the middle to permit it to fit into our flyer boxes. You’ll have to imagine where the fold will split the image.

And here is the inside face. If you click on either image, you can see the full-size, full-bleed pre-press files. Fair warning: They’re 87 megabytes each.

Here’s the text from the inside front panel:

True luxury, true elegance is not a
vast accumulation of shiny trinkets,
a mass of dazzling distractions.
The artifacts of genuine wealth are
streamlined, refined, stripped down
to the essence. Simple. Unaffected.
The best expression of your limit-
less lifestyle is a home that serves
as the jewelry box for the precious
treasure that is your family…

And that’s why god made Lord & Taylor…

This is going to be a fun one for us, a chance to put every idea we’ve been playing with to the test.

The Nobel Sales Motivation Strategy

I’ve recruited and trained, directly and indirectly, over 300 loan salespeople in my career.   I learned, as a new Branch Manager, that one way to enhance the overall production of the team was to practice the Nobel-Obama strategy.  Here’s what we did:

We’d look for a promising new originator and make him the sales leader.  Oftentimes, we’d pick the second-best performer, in a group of rookies, and feed him preferential leads, shower him with extra training, and “crown” him the tiger of the bunch.  The reasoning behind that strategy was that the second-best performer would rise to the challenge and be that superstar while encouraging the legitimate superstar to challenge the golden boy. 

It helped if the golden boy had a compelling story to tell.  One young man emancipated himself from his parents at age 16, put himself through college, and even slept 2-3 nights in his car while temporarily homeless.  He had been homeless because he was waiting for his initial commission check at his first sales job.  He certainly had a better story to tell than the well-connected young lady who grew up in the tony suburb of Scottsdale so we crowned him the superstar.

What we did was to encourage the sales staff to believe that hard work was the key to success rather than having an “advantaged background”.  We wanted the team to believe that if the golden boy could make six figures, anybody could.  It didn’t always work.  Usually, the polished young lady would defect to a competitior.  Business got tough, the golden boy would struggle or implode, and our competitor profited from our mistake.

Some might consider what the Nobel Committee did today brilliant.  Crowning an international golden boy encourages other heads of states to mimic our President’s behavior.    I imagine Ahmenijad might be inspired to abandon his pursuit of nuclear weapons, the new Cuban leadership might stop killing and imprisoning dissidents, and the Dalai Lama will stop telling lies about Mainland China.  Absent conflict or challenging times, the Nobel strategy might succeed as well as the one I used on sales rookies in the ’90s.

Today, I’ve learned an easier way to attract talent.  I look for eager, accomplished, smart Read more

Mr. FTC-Man: Don’t Gore My Ox!

The FTC issued guidelines this week requiring bloggers to disclose whether they have received free products in exchange for endorsements. It was as if the FTC had read my post earlier this week praising the ScanSnap Scanner and my voluntary disclosure that the fine folks at Fujitsu had not plied me with a free gift, and said, “We like the cut of Chetson’s jib! We’ll create mandatory disclosure policies for the whole country!” Thanks FTC!

Al Lorenz (full disclosure: I don’t know Al, and he has never seen fit to send me a single present) had a good comment a few days ago about the double standard. The FTC rule is enough of a regulatory overreach that it’s got virtually everyone up in arms. Jack Shafer, another stingy bast*rd who has failed to send me any gifts of value, has a terrific article in Slate about the whole thing.

But I do want to defend the FTC in one small way: many people, including some of the same now griping about mandatory disclosure rules on poor-me bloggers, have no problem with the regulation of other kinds of pay for play schemes – see, Payola, 1950s. So there’s some logic to the idea that if radio broadcasters can be regulated on content, so can any kind of broadcasters, including blogger-broadcasters.

A Bloodhound’s Proven System for Sniffing out Hotel Deals

Hi everyone!  I’ve been reading BHB religiously but have been a very naughty contributor.  This is still my favorite blog and it’s an honor to be a part of this community.

I recorded a 6 1/2 minute video detailing a fun little system I’ve been using to save thousands – yes, thousands – on my hotel costs.  I hope you find it worthy.  If not, flame away and I’ll stick to what I know best next time.

The Day Realtors Figured Out A Practical Use For Twitter

So…

If you have a minute, please go follow Twitter.com/229RockGlen.

Over the next few weeks, this clever little property is going to automatically follow a whole bunch twitterers in the Philly area, systematically inviting lots of local folk to take a little tour inside.

Go ahead… follow the house to see what I mean….


picture-117

Big Brother attempts to control Bloggers

The Federal Trade Commission, in the name of protecting America’s consumers, released new guidelines on Monday requiring bloggers and social media users disclose paid endorsements starting December 1, 2009.

The regulations are being described as unnecessary, too vague, totalitarian and a digital double standard since they don’t apply to traditional media at TheAtlanticWire.com.

After December 1, be careful out there when you blog about a listing or even the latest software product that you run across that you want to share.

As usual, there is always an opportunity.   Does someone want to come up with the shortest legal disclosure for use with the 140 character limit on twitter?  Oh yeah, I received no monetary  compensation for this post on my review of the FTC’s new requirements.

Stopping Horse Fraud

In addition to a criminal law practice, I’m building an equine law practice.  This is where the real money might be made, and real good might be accomplished.

Each year, tens of millions of dollars are swindled from horse owners.  Unlike the real estate industry – which has its share of fraud and corruption, and brokers serving as “agents” on both sides of the deal – the equine industry has very little transparency, no mandated disclosure forms, and no independent verification of price or value.

Agents, acting on behalf of the buyer or the seller, will sometimes pad the price, will sometimes simply tell the other side that the buyer is looking for a horse in such-and-such price range (which will signal to the seller to raise the price of the horse), will not disclose important health or soundness issues, and will engage in strawman purchases, where the agent buys the horse and flips it to the true buyer days later.

Because there are no mandated disclosure forms, and because so many deals are done on a handshake, the buyer may never realize she bought a horse for tens of thousands more than the seller sold the horse.  The agent in the middle pockets the difference, in addition to the agent’s stated 10 or 15 percent commission.

If you’ve been around hunters, jumpers, eventing horses, or dressage horses, you know what I’m talking about.

The goal of my practice is not just to clean up a mess after the fraud has been done (which is a very difficult thing to uncover), but to stop the fraud in its tracks.  I’ll be launching EquineSurety in January, 2010.  In the meantime, I’m taking some lessons’ out of Phil Hodgen’s book, building out a website, starting the marketing, creating videos, building out content, and networking in the industry.

Here are the first videos…

Stop Horse Fraud

…a series of which I’m creating, which are simple, clean, and ask provocative questions.  I have a sign-up form on the website to start to collect names of interested horse owners who can later been contacted once the project is launched.

Already, I’ve gotten some good Read more

Want buyers to think you are better than sliced bread?

Were ready for step two of the series on how to effectively use a tablet PC to run your day to day real estate tasks.  I’m including a screencast to actually give you some visualization on how I actually use my tablet PC for working with buyers in the field. Warning: Please turn down volume on screencast prior to starting.
Using a tablet PC when out in the field

The basic premise of what I do with buyers out in the field is extremely simple but very effective for organization, having a go-to information source, and being looked to at a whole new light in your clients eyes.

What I do when working with buyers using my tablet PC:

  • Fire up my MLS and find the homes that I will be showing to my buyer
  • Go to File Print and select the Print labeled “One Note 2007”
  • Once the spec sheet is in One Note I move it into a pre-created notebook for my specific client for organizational reasons
  • You can also print specific tax bills or anything relevant to that specific house you can think of that maybe handy and impressive to show in-front buyers.  The most relevant thing that I have added into my showings is the listing history/price change sheet.  (We all know they ask they questions almost every time no more fumbling, time to be the expert we really are!)
  • Next I go show the house and take notes on each property that we see so I can give relevant feedback to the listing agent.  Taking notes on every house is also a great way to remind buyers about the prior homes.

As you can see what I’m presenting here is really simple and should not intimidate anyone that is afraid of technology.  It’s as simple as Print/Move to a Notebook this is a good start of what we will be building in on future posts.
The real reason I’ve decided to take on this Tablet PC for Real Estate blog journey is to communicate with other people who share similiar interest’s and can share new ways of working with a tablet PC to become more efficient Read more

“The 10 (Real Estate Website) Must-Haves” – Top Producer’s List Isn’t Bad, But…

Just got this in me inbox from Top Producer…It’s interesting, and makes a lot of sense that they’ve branched out from being just a crm over the past few years.

picture-39

I don’t think it’s a bad list, but at a glance I think it’s missing 2 things? :

  • 1. Your Lead Capture proposition should be to offer something of value that’s both pretty darn interesting while being something visitors can’t find on your competitor’s sites. Software can’t do this, of course, so I guess it makes sense that it’s not on TP’s list.
  • 2. And hey! No mention of social media integration?

Is anyone out there developing a CRM / Lead Management system that includes these last two? Is it even possible?

Number 1:Actually seems like a software company could possibly deliver this if said company hired an in house USP thinker-upper-executer? Sorta blend the software with initial/ongoing guidance as a way to attract/retain customers?

Number: Will Twitter/Facebook apps/api’s allow for contacts to be imported and assigned to activity series/follow up plans automatically? Just seems our Twitter/Facebook connections should be part of our pipeline, and should be incubated as such, even if they’re way further down that pipeline than actual folks we’ve met or talked to on the phone…

Thoughts? Is TP missing anything else?

Rainman house foreclosure

Note to Zillow: You have, in my opinion, been scraping traffic and (either accidentally or on purpose- I cannot know) in the process getting tons of irrelevant traffic via SEO. You have also been APPARENTLY been charging your advertisers for those same views. (For those who wonder what I am talking about, go to their home page and scroll to the bottom. They currently are featuring the largest home in the US and something about one of the Real Housewives of New Jersey. Or you can Google “largest house in US Ira Rennert”.

I have long had the thought that some of us bloggers ought to do a similar thing and drive you from the front page and ease my annoyance at your apparent practice. It has been bugging me for months. Clever? Maybe, but not something that I’d want a “partner” doing. (grin) Of course, I don’t “partner” with you, but you get the idea.

The home in the beginning of the movie Rainman is actually located in Cincinnati. The East Walnut Hills home on Burnett Avenue was featured at the beginning of the movie and the owners are now facing foreclosure. It was once valued at $1.5 million.

Let’s learn from the principle. It is one that Brian Brady taught us with Elliot Spitzers hired lover. These types of terms build TONS of irrelevant traffic because they are carried on the current media. It is a tactic that many SEO types use currently as well.

We all see foreclosures all the time in this business. I wish the current owners as well as the bank who will apparently soon own the home a speedy dispatch and sale of the property to a new owner.

To Zillow. Guys I hope you are not “milking” traffic to aid your profitability by billing CPM to unsuspecting advertisers who are losing because they are not getting relevant eyeballs in exchange for their dough. That is THEIR call and not mine. I wish you guys well and would be happy for you to join this conversation and set me straight. As I said above, I cannot judge intent. I Read more

Monday Motivation

It’s been a busy year.  So busy, that I didn’t realize there were only 85 or so days left in 2009.

Take away the holidays, office parties, traveling to real estate conferences and visiting family, and I estimate that we’ve got about 19 working days left.

Whether you believe that the economy is going up, down or heading nowhere fast, the only thing we can control over the next few minutes or months is our attitude.

One of my friends created a great video over the weekend that I wanted to share with the Bloodhound Community.

Here’s to finishing this year out strong….

video produced by:  Dustin Hughes