{"id":12624,"date":"2010-07-09T18:31:03","date_gmt":"2010-07-10T01:31:03","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=12624"},"modified":"2010-07-09T18:31:03","modified_gmt":"2010-07-10T01:31:03","slug":"re-entering-the-real-world-of-real-estate-brokerage","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12624\/re-entering-the-real-world-of-real-estate-brokerage\/","title":{"rendered":"Re-Entering the Real World of Real Estate Brokerage"},"content":{"rendered":"

As many of you know, I stopped doin’ business in my local market, San Diego, at the end of 2003. Since then I’ve done two transactions here, both as listing agent — both gettin’ the sellers Outa Dodge, so to speak. I haven’t bothered to market here cuz, well cuz I thought the prices were gonna keep falling, which they did, big time. Since I avoid short sales and REO’s like the plague, that pretty much ensured I’d not be doin’ any San Diego business. How dumb is it to buy income property in San Diego even now? You can see an example — where I present my answer to those whose only reason for holding on to the crappola they call income property there, is “I gotta be able to drive by my investment properties”<\/a>. For the record, that example uses the lowest priced duplex in the neighborhood, and I used high projected<\/em> rents. <\/p>\n

My response to local real estate investors when they’ve called or emailed objecting to my stance, is to ask them, “Well now, how’s that whole ‘drivin’ by’ thing been workin’ our for ya lately?”<\/em> The ongoing market correction, and there’s more to come IMHO<\/em>, has reduced well located duplexes that sold in late 2005 in the neighborhood of $550-600,000 to hoping to find a buyer while now asking $300-400,000. <\/p>\n

And their numbers still<\/em> suck like a turbo-charged Dyson.<\/strong> <\/p>\n

In spite of these empirical facts of life, I’m makin’ my official return to the San Diego investment market next week. Office is set up, except for the internet connection which will go hot by Wednesday. Yet it didn’t feel real ’till I picked up my new cards and letterhead this afternoon. Haven’t had either for many years. There’s literally been no need. Everything I’ve done since 2004 has been out of California, and everything sans referrals since July of 2006 has come from my 2.0 efforts. <\/p>\n

It’s a good thing, cuz I had no other choice, unless it was to return to selling local homes to owner users, something I’ve happily abstained from doing since Carter’s Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As many of you know, I stopped doin’ business in my local market, San Diego, at the end of 2003. Since then I’ve done two transactions here, both as listing agent — both gettin’ the sellers Outa Dodge, so to speak. I haven’t bothered to market here cuz, well cuz I thought the prices were […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,10,28],"tags":[],"class_list":{"0":"post-12624","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","7":"category-realty-reality","8":"category-retirement","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":13515,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13515\/swallow-hard-make-it-happen-or-get-out\/","url_meta":{"origin":12624,"position":0},"title":"Swallow Hard — Make It Happen — Or Get Out","author":"Jeff Brown","date":"November 5, 2010","format":false,"excerpt":"For the most part, it's human nature to have a love\/hate relationship with the results that have our name attached to them. I've failed far more often than I've succeeded. It's not even close. Name a category in which I've endured the ignominy of defeat, and my hand is more\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12038,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12038\/so-simple-even-a-realtor-can-do-it-fishing-in-wells\/","url_meta":{"origin":12624,"position":1},"title":"So Simple Even a Realtor Can Do It? – Fishing In Wells","author":"Jeff Brown","date":"May 26, 2010","format":false,"excerpt":"\"So simple even a Realtor can do it.\" Our old friend Russell Shaw wrote a post recently in which he made use of that quote. It comes from the well known Gary Keller book, Millionaire Real Estate Agent. Though I've not read it, that quote alone got it on my\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12653,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12653\/an-effective-alternative-to-the-team-model\/","url_meta":{"origin":12624,"position":2},"title":"An Effective Alternative To the Team Model","author":"Jeff Brown","date":"July 16, 2010","format":false,"excerpt":"I love the team concept as it's executed corrected by some in the business. However, most of them, IMHO, and through first hand observation, produce pre-tax income less for most team leaders than most think. Going even further, I'd say those workin' by themselves or partnered, using only assistants, not\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14033,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14033\/thoughts-worth-pondering\/","url_meta":{"origin":12624,"position":3},"title":"Thoughts Worth Pondering?","author":"Jeff Brown","date":"January 29, 2011","format":false,"excerpt":"It's pretty much become the mantra in real estate, that agents, most of 'em anyway, never stop searching for the Holy Grail -- which is of course the MagicButton (MB). Just keep pressin' it and business overwhelms them. They're idiots of course. I can say that with a straight face\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11666,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11666\/i-bet-many-of-the-cool-kids-are-on-the-verge-of-greatness\/","url_meta":{"origin":12624,"position":4},"title":"I Bet Many of the Cool Kids Are On the Verge of Greatness","author":"Jeff Brown","date":"March 29, 2010","format":false,"excerpt":"I've always loved the Cool Kids (CKs). I've never been a cool kid, but the kinda sorta quasi-cool guy who seemed to think differently, while simultaneously remaining under most folks' radar. I've been the poster boy for Malcolm Gladwell's 10,000 hours principle, which says we don't become excellent at something\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12732,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12732\/gettin-listings-sold-playin-hide-the-pea\/","url_meta":{"origin":12624,"position":5},"title":"Gettin’ Listings Sold – Playin’ Hide the Pea","author":"Jeff Brown","date":"July 23, 2010","format":false,"excerpt":"I've never really cared much about the infinite number of sites 'marketing' listings for real estate agents. It's always struck me as oversold at best, and a con at worst. I'll let you gentle readers gimme your experience in the comments section. 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