{"id":2014,"date":"2007-10-09T04:10:45","date_gmt":"2007-10-09T11:10:45","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2014"},"modified":"2007-10-07T13:11:35","modified_gmt":"2007-10-07T20:11:35","slug":"trim-the-fatno-throw-away-the-meat-and-get-a-new-cow","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2014\/trim-the-fatno-throw-away-the-meat-and-get-a-new-cow\/","title":{"rendered":"Trim The Fat…No, Throw Away the Meat and Get a New Cow"},"content":{"rendered":"

Frank Nelson, writing for the Sunday LA Times, outlined the knowledge crisis that affects our industries today<\/a>:<\/p>\n

“About half our members have never seen a down market,” said Colleen Badagliacco, president of the California Assn. of Realtors.<\/em><\/p><\/blockquote>\n

Edward Barrios, an agent with Shorewood Realtors in Manhattan Beach, believes a “gold-rush mentality” accounts for many of the people jumping into the real estate profession in recent years.<\/em><\/p>\n

Some lack the necessary skills to keep pace with and interpret changing market needs, he said, and others are getting licenses just to trade their own homes, or do so for family and friends, saving thousands of dollars in commissions. “Every day,” he said, “I see agents who don’t know what they’re doing.<\/em><\/p><\/blockquote>\n

Agreed. I was astonished at the “gold rush” mentality in the real estate brokerage and mortgage origination business when I moved to San Diego in 2003. The effects of that mentality are being felt today. A local mortgage brokerage opted to cease its origination operations and concentrate solely on their business of buying out structured settlements. Essentially, they wanted to cash-in on the gold rush and hired originators, with little or no experience, and offered them unprofitable but generous compensation plans. Their strategy was to skim some money from the high volume.<\/p>\n

They did themselves, their industry, and moreover, these originators a disservice. We’ve talked to a large number of their originators in the past two weeks; we’ve extended employment offers to two of them. One recent conversation was so ridiculous it was comical:<\/p>\n

Are you closing 5 loans per month?<\/em><\/p>\n

Uh, no. The market’s all jacked up.<\/p>\n

Hmmm…perhaps you need some product education. How proficient are you on the AUS?<\/em><\/p>\n

Say what?<\/p>\n

Nevermind. Are you talking to at least five Realtors each day?<\/em><\/p>\n

I won’t do business with Realtors.<\/p>\n

Okay…how about CPAs, CFPs, insurance agents?<\/em><\/p>\n

They refer business?<\/p>\n

Let’s try something different. What sort of database management system are you using to keep in contact with your old clients?<\/em><\/p>\n

Ah, man…I already refinanced those people up to their limits. They’re all pissed off now.<\/p>\n

We, most likely, don’t have the resources you need Read more<\/a><\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Frank Nelson, writing for the Sunday LA Times, outlined the knowledge crisis that affects our industries today: “About half our members have never seen a down market,” said Colleen Badagliacco, president of the California Assn. of Realtors. Edward Barrios, an agent with Shorewood Realtors in Manhattan Beach, believes a “gold-rush mentality” accounts for many of […]<\/p>\n","protected":false},"author":15,"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":[26,5,30],"tags":[],"class_list":{"0":"post-2014","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","8":"category-supplanting-the-nar","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2520,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2520\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-is-open-16\/","url_meta":{"origin":2014,"position":0},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"January 20, 2008","format":false,"excerpt":"There are 15 entries on the short list this week, out of a long list of 82 posts. Vote for the People's Choice Award here. You can use the voting interface to see each nominated post, so comparison is easy. Ahem: Please don't spam all your friends to come and\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1676,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1676\/in-down-markets-realtors-on-both-sides-of-the-transaction-need-to-step-up-for-their-clients\/","url_meta":{"origin":2014,"position":1},"title":"In Down Markets Realtors on Both Sides of the Transaction Need to Step Up for Their Clients","author":"Cooksquared","date":"July 19, 2007","format":false,"excerpt":"As the real estate market begins its tailspin, home buyers and sellers alike need to figure out how to play the real estate game. The time has passed for simply taking the lowest cost provider of real estate services. Realtors on both sides of the transaction must now prove their\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":253,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/253\/when-realtors-become-as-stupidly-hyperbolic-as-the-bubbleboys-thats-news\/","url_meta":{"origin":2014,"position":2},"title":"When Realtors become as stupidly hyperbolic as the bubbleboys, that’s news…","author":"Greg Swann","date":"August 26, 2006","format":false,"excerpt":"Apparently, about 200 Phoenix-area Realtors got together Thursday night for some group therapy:About 200 agents gathered at the Southeast Valley Association of Realtors in Mesa to hear tips from top achievers on how to sell homes and handle clients in this transitional market.We don't belong to SEVRAR, so we weren't\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2992,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2992\/will-realtors-be-disintermediated-by-on-line-tools-probably-not-but-tech-savvy-realtors-will-supplant-those-who-do-not-adapt\/","url_meta":{"origin":2014,"position":3},"title":"Will Realtors be disintermediated by on-line tools? Probably not, but tech-savvy Realtors will supplant those who do not adapt","author":"Greg Swann","date":"April 20, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Will Realtors be disintermediated by on-line tools? Probably not, but tech-savvy Realtors will supplant those who do not adapt The big news in real estate is the market, of course. My view is that the American economy\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9915,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9915\/docusign-may-be-the-best-friend-realtors-have-ever-had\/","url_meta":{"origin":2014,"position":4},"title":"DocuSign may be the best friend Realtors have ever had","author":"Greg Swann","date":"October 1, 2009","format":false,"excerpt":"Okay, so all the Realtors know that short sales are like a jack-in-the-box: You crank and crank for weeks or months and nothing happens, then everything pops all at once. Happened to me today, with the Sphinx-link bank suddenly lurching to life in order to issue two must-rush-now documents that\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":570,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/570\/starving-realtors-want-to-know-how-do-you-charge-a-premium-price-for-a-commodity-that-is-not-in-short-supply\/","url_meta":{"origin":2014,"position":5},"title":"Starving Realtors want to know: How do you charge a premium price for a commodity that is not in short supply?","author":"Greg Swann","date":"October 25, 2006","format":false,"excerpt":"I love it! Inman Blog cites an amazing open letter from the Minnesota Association of Realtors to its membership. The gist: Real estate brokers are retards but it's not their fault! Wait, that's not right. What it says is, if you're not making money as a Realtor, you should probably\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2014"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}