There’s always something to howl about.

Author: Jeff Brown (page 9 of 15)

Real Estate Investments Broker

A Little Tough Love: We Don’t Get Paid For Tryin’ — We Get Paid For Doin’

Before beginning, and to head off the ‘you’re so mean’ crowd at the pass, I’m talking here of those things in our careers for which we, more or less, hold the reigns. We never totally control everything when it comes to our scorecard (read: results), but we can reasonably agree most (80/20?) of what we wish to accomplish is under our control to a greater or lesser extent.

There was a short period when I was a trier. I empathize with those who say they tried hard in this business. I don’t feel sorry for them, but I empathize. I realize it sounds hard-hearted, but for Heaven’s sake, they don’t even believe themselves. They were the ones not doing what they knew what had to be done to produce results, right? My money says they were there at the precise moments they weren’t doing them.

In other words, around here‘The dog ate my homework’ will fall on deaf ears.

I made a comment on Russell Shaw’s most recent post. I’ve always loved the way Russell pokes good hearted fun at old sayings. In this case it was, ‘work hard, play hard’. I’m with him in saying, whatever that means. I prefer to work hard and play however it pleases me. Isn’t that at least part of the reason I’m working hard in the first place? Duh. Sorry, I digress.

Anyway, he pointed out the difference between ‘having to’ and ‘wanting to’. As usual with Russell, he nailed it. Russell inspires me with his uncanny ability to do surgery painlessly, yet without anesthesia. His post is what brought to mind the whole Try vs Do thing with which we all have struggled at one time or another.

Here’s my comment verbatim.

I truly don’t mean to be harsh here, as there is some real suffering out there amongst the RE community. Still, there are two classes of agents.

Those who DO, and those who Try.

Do you ‘try’ to prospect daily, or do you ‘prospect daily?’

Labeling this line of thinking as ‘positive thinking’ replaces doing with trying.

Those for whom results are the only measuring stick, don’t ‘try’ Read more

So Far Twitter’s Just Not Worth The Effort

First and foremost let it be understood by one and all, I’m assuming all guilt until proven innocent.

So I decided to begin orbiting the planet twitter today. It’s simple. Easy as 1 2 3 the mantra goes. Not so fast cult breath.

Seems I’m from the Stoopid Tribe. First I don’t have IM. Hey, I’m 57 in a couple months, so give me some slack. My efforts to obtain IM are laughable, as nobody seems to want to help. By nobody I mean IM online sites. Google Talk apparently hasn’t been introduced to Steve Jobs yet, so those guys are out. You’d think they’d have at least run into each other once by now.

Take a few deep breaths, and email Lani for help. She sends Mathew and Andythe twitter cavalry. They are both very cool and helpful guys, and along with my new application from Twhirl via Lani, I sent my first twitter. Is that even how you say it?

At this point I’m apathetic.

There’s no online help worth a used Snicker’s Bar. My password is now being denied. I changed it to the original password and they’re still telling me to go jump in the lake. Honest, they told me my new password was way cool.

And it’s not just the password thing. I see a message from someone I don’t know and decide to click on it. A new box comes up, but I can’t figure any way in hell to get back to all the other messages. I tried every icon there was. Go fish.

The first thought entering my addled but appealingly smooth pate, is — All this just to say ‘Buy low, sell high — I’m the real estate investor guy’. Really?

Again, I assume blame for all this. I have no clue whatsoever why it was working and now it isn’t, and until I get belly to belly with somebody who can lend a little hands on assistance, I’m officially putting the whole twitter thing in the rearview mirror.

Thanks again to Lani, Andy, and Mathew for their help. It was working for almost an hour. The Read more

Going Postal — From The ‘You Can’t Make This Up’ File

Here’s a hot button for real estate agents and mortgage brokers. You’ll recognize this immediately. Your’re dealing with a problem, searching for a solution with a service provider or a vendor. The person on the other end of the phone says something which clearly and expertly outlines the solution that isn’t a solution. In fact it’s so not the solution, you begin wondering if you’ve missed something. It’s at that precise moment your mind conjures up a vivid picture of the Captain Obvious who just offered this Solomonic pearl of wisdom bursting into flames.

What possesses people to list all the ways something can’t be done? Not being a graduate of PCU (Politically Correct University), I apologize in advance for the following. My intention is not to hurt feelings, but to understand. No really — stop giggling.

In all my years in the real estate business I’ve only used a handful of escrow officers, title companies, lenders, etc. What they share is the ability to look for ways to get things done, instead of replaying the video, looped to the scene explaining how it absolutely can’t be accomplished. Why do people in service industries do this? More to the point — why are they kept on the job after their bosses figure this out?

Here’s an example. I Pinky-Swear this is true. (Brian Brady will back me up.) In fact you’ll know it’s true as nobody would make up something so clearly stolen from the classic Abbot and Costello routine, Who’s On First.

I’m hoping Brian Brady posts on this, as he was the initial mortgage guy victimized by the appraiser’s laziness and incompetence. Countless times I was amazed Brian didn’t resort to asking the appraiser if he was stoopid. Looking back, it was probably ‘cuz he wasn’t sure the guy would understand the question.

A couple clients contracted to buy multiple investment properties in Texas. We began the loan process which of course necessitated appraisals. Apparently the appraiser made a mistake by checking the box stating the subject property was part of a P.U.D. — Planned Unit Development. Bottom line, this Read more

#1 Myth In Real Estate: Agents Don’t Know Why They’re Failing

BHB is about excellence. Excellence in service, products we need and/or use, various marketing methods, and how we conduct ourselves during what I’ll laughingly refer to as ‘business hours’. I’ve suspected Greg’s goal of reaching the million agents is gonna be a tall order, ‘cuz 80% of the agents out there would have to move up the ‘I get it’ ladder to have a clue. More simply put, they don’t come here, and probably never will. That said, I also believe there is a relatively large grouping of agents who’ve not learned yet what it takes to become a consistently successful high volume producer. They do business, but realize they could, and should be doing much more.

High volume? Look, you don’t have to close 100 escrows, ok? But an agent who wants to, can make six figures, $100-250,000 or more in nearly any market. This morning I discovered Russ also addressed this topic, but in his own way.

Agents just don’t know what they should be doing with their time.

Or so they would have you believe.

Let’s conduct a short experiment. Think of any past endeavor for which you had more than a passing interest in succeeding. Let’s take a simple one with which most of us can identify — losing weight and/or improving our overall health. How’d ya do?

If you were successful, it’s my guess you know why. Duh. Can’t we then infer if you had failed, 99% of folks would also know exactly why? Am I being too subtle here? When I was the ‘Chubby Little Blonde Guy’ (That oughta date it for you.) I knew exactly what road I’d used to arrive at Chubsville. No self discipline when it came to diet and exercise. Go ahead, write down that Black Pearl. I’ll wait for you.

It takes an IQ of at least 150-180 minimum to understand the dynamics of calories in vs. calories out, plus the added factor of consistent exercise, both aerobic, and anaerobic. Get the right math goin’ for 120 days or so, and pretty soon you’re shoppin’ for clothes that aren’t X-rated. I Read more

Do You Have Faith? — Belief? — Or Do You KNOW?

Take it from someone who for years did what he thought would produce, but in reality experienced haphazard results. There’s a huge difference in the quality of results (read: success/failure) when the actions taken to produce said results were proceeded by an easily defined thought — followed by a slamdunk belief in said thought — which generates behaviors, followed closely by expectations of successful results. It really comes down to this: We know what we know, and we tend to act on what we know. Not what we hope. Not what we theorize. What we know. If you say you believe something to be true, and you can honestly substitute the word ‘know’ for believe, you’ll succeed.

Make sense?

I understand for most readers, it’s certainly not a new concept. Most of us have heard various versions of this since somewhere in our childhood. Years ago, I experienced a spontaneous breakthrough of clarity. I was talking one day with someone who knew me too well. She compared the difference between my behavior when I strongly believed something to when she felt I knew something to be true. I demurred with much volume and histrionics until she smiled and gave me a few recent and inarguably concrete examples. I hung my head in shame.

She then asked me one of the most important questions I’ve ever had to answer. What methods of acquiring new business was I using knowing it would produce results?

Substitute the word ‘know’ for ‘believe’ and tell me what you think about your goals for this year, if you have them. Do you believe the methods you’re employing to attain them will work, or do you know? And for the record? This isn’t some Kumbaya, rah-rah, ‘ya gotta believe’ crappola for the soft headed out there who need to feel good for an hour or so.

The Point?

What we think of most of the time is what we become. (Paraphrased — hat tip to King Solomon)

If we’re consistently wondering if what we’re doing will produce the results we’re pursuing, we’re on the doubt train headed to who knows where. It’s Read more

Don’t Listen To The Arrogant Attention Whores — Just Skin Your Cat

As happens with blogging sometimes, certain topics inspire many to register their take. That’s what we do. Whether it’s real estate, loan, or tech oriented, it’s amazing how quickly certain subjects can morph into almost a spiritual debate.

Watching all the back and forth the last month or so has been, uh, enlightening — not.

I’m here to tell you, Bloodhound is all about making agents better at what they do. I adhere to that as my Bloodhound mission statement with whatever I write here, just as I do in my own house. Writing here is such an honor. The first thing readers realize is that most of us understand it’s not about us, but about you. This is a critical distinction when passing on expertise.

For example, as a youth baseball coach, (five all-star teams 🙂 ) I never told a kid he was stupid ‘cuz he hit a line drive other than how I’d taught him. On the contrary, I praised him for gettin’ the job done. There are so many ways to hit a baseball hard. But if you freeze frame the hitter at the point where ball meets bat? They pretty much look identical.

The same goes for real estate agents. Their success depends on one thing: How many prospects were they able to get themselves in front of on a consistent basis? In baseball parlance, how many at-bats do they get every week, month, year?

Wow, you made seven figures?! Yep. How’d you do it? The answer isn’t relevant. The target of the question did it — that’s what’s relevant. He skinned the cat. Now that you’ve discovered that fact, you can sit down with them and find out how. The next agent who impresses you with their income will have done it an entirely different way. Go figure.

We human types are funny. We figure out what works for us, then become evangelical about it. Billy Graham was never more passionate than those on either side of the discussions on SEO methods, what to call a lead (Are you serious?), cold calling/door knocking vs the internet, Read more

Are You Still Waiting For Her To Come Back?

So much of the country hasn’t experienced the 15-40% annual appreciation rates places like San Diego have experienced several times. Regardless of the down times, we’ve learned she always comes back smiling. The market? In the end, she would always love us. She always has. Though at times she could lash out, she always made up for it with lavish gifts of abundant appreciation. That may still be the case in regions like SoCal, but it’s my belief it won’t include the vast majority of residential income property.

There are several reasons allowing investors to conclude this. I wrote about many of those reasons in over at my place, adding a video for fun.

First and foremost, developers paid attention in eighth grade math class. They can make $X building duplexes or fourplexes and the like OR $X+ building condos/townhomes OR $X+++ building single family residences — and all on the same piece of dirt. Go figure, they chose to build where they found the most profit. This has been happening in places like San Diego since the ’80’s.

The only residential income product built since then has been recently. It’s been concentrated on the coast and upper income locations with rents that are incredibly high. These newish projects are not competition, nor do they have any positive affect on the values, rents, or vacancy rates of 35 year old duplexes. Duh.

An example is a new place offering 1 bedroom apartments for twice the rent of competition half a mile away. Twice as much. They also offer their tenants everything but a Friday night date — something I’m sure they’ll correct upon reading this.

The point is that the market? She’s left you. And she ain’t coming back no matter how much you turn on the old charm. When investors have the choice of putting less than 35-50% down just to break even, they’ll do it. The party’s over. Capital flows to the best returns. Duh. So why do folks in places like uh, the west coast for instance, insist things will revert to the status quo they’ve relied upon for so Read more

Does This Describe You?

We’re so often imprisoned by technology which is designed to do just the opposite. I’ve turned down lunch meetings with other pros who make the meeting meaningless because of their irrational need to stay in touch. There’s been a term going around for quite awhile, describing some of the worst of this ‘syndrome’. Crackberry.

Are You Addicted To Your Blackberry? lends credence to what many of us have wondered about — often about ourselves. Are we addicted to technology? Does it adversely affect our relationships with family and friends? No?

Are we in denial?

After reading the post, I double checked my normal business day. Returning an email promptly is cool, but my life isn’t altered if it takes longer than a few minutes, even a few hours. I’ve refused to own a Blackberry, though my future may include an iPhone.

Living our lives under our control — not dictatorial hi-tech tools — should be jealously guarded. Though my refusal to meet professionally with clearly addicted peers has raised a few eyebrows, I literally couldn’t care less.

Nobody’s that damn important. And that includes all of us. Nobody.

HT/The Dirt Lawyer

Please Show Me How You Disintermediate Results and Superior Expertise

Before beginning in earnest, let me take a shot of addressing what surely will be the first comments made concerning disintermediation. Have there been instances of this happening in other industries? Sure — the ‘go to’ is almost always travel agents. I maintain the average person still uses travel agents when arranging anything more involved than visiting Grandma or a business trip. How many of us will arrange a two week tour of Europe on our own? Not me. You?

The point remains — any industry requiring real expertise and which must produce results of real value to their customers/clients, will not — cannot — be replaced by the mere act of clicking. The concept is absurd on its face.

Of course, the jury is out on whether or not I’m in the minority or majority. Opinions are just that. Certainly my opinion isn’t taken from Divine Inspiration. Empirical evidence drives me to my conclusions here. The marketplace has decided, at least so far, the experienced agent producing consistently excellent results by way of superior expertise is the dominate choice of buyers and sellers of real estate.

Click that.

Russ Shaw and I must be the last remains of the species long thought to be extinct — Trirealasaurus Rex. Apparently we just don’t get it, and are on our way out. Everyone’s eatin’ our lunch, or soon will be. Techno-Geeks who could study what Russell does for a year and still not know what he’s forgotten, insist their way, (whatever the hell that is — they argue among themselves) will eliminate him just like the meteor crashing into earth wiped out dinosaurs.

Last time I checked, he’s not feeling very threatened.

Every time I read something telling me how I’m on the verge of extinction, I consciously avoid going into Dad’s default mode, which was to extend his favorite finger in the direction of the offender. 🙂 I’d rather learn what the smartest guys in the room have to teach. They’ve taught me how to apply their Geekinology to my Old School ways. I’ve been walking that talk now for quite awhile, coming up on Read more

ROI For 2.0/Social Media Marketing? So Many Questions So Few Answers

Joe over at Selsius published a piece the other day — Show Me the ROI: Is Web 2.0 a Load of Hooey or Who’s Making Hay? in which he links to some pretty interesting posts on the same subject. So much of this is what has made me crazy since I first turned onto the onramp of the 2.0 freeway.

ROI? What’s return, if it’s not measured in money, yenom, cash, closing statements, origination fees, bank deposits, or fill in the damn blank? This is silly at it’s best, and embarrassing at its worst. I don’t mean anything Joe said, just the idea. In fact I thought Joe’s observation was right on the money — pun intended.

He noted some folks have decided it might be time to ask the question, “How big is yours?”

This goes back (Please Lord, protect me.) to what I’ve always wondered about the whole SEO thing. It fits into this topic as if it was custom tailored. What’s the ROI on 2.0/SMM? What’s the ROI on all those leads yer gettin’ from your website and/or blog? I’ve simply stopped turning to the experts out there, ‘cuz I’m tired of being ignored when I ask them to please let me know what their clients’ conversion rates are.

I finally ran into an upfront, plain talkin’ expert, whose name I will keep to myself.

When I emailed them privately, asking about leads per day for RE clients, and their subsequent conversion rates, the answer was a breath of fresh air, invigorating by its naked truthfulness.

Here’s my email to this expert.

‘Blog/SEO/Lead generation expert’,

I’ve been tryin, in vain, to find out what the batting average is for real estate bloggers who’ve been successful in generating a reliably consistent number of daily/weekly/monthly leads.

I’ve heard of, and keep reading about blogs bringing in 10 a day 20 a day, even 30+ daily. What I’m not hearing is how many closed escrows are resulting from all those leads.

Whenever I ask this question, especially to those who are experts, (in reality, not just in their minds) I become invisible.

You’re one of the Read more

Paradigm Shift? Not Quite Yet

In just the past couple weeks alone I’ve read over a dozen blog posts declaring a paradigm shift in real estate — specifically in what it takes to succeed as an agent. Before I continue, it’s not my intention to offend anyone in any way whatsoever. Seems about 2-3 times a year I manage to step in it big time, causing some sorta perfect $#%storm of wounded egos and/or encroached empires of ideology. This should be filed under, ‘Hey, I’m just sayin” and leave it at that.

Look at the history of the car, beginning at the turn of the 20th century. Going out on a limb, I’d say far less than 1% of the population had seen one, much less owned one. Now look at today’s car. A paradigm shift? Not in my thinking. They still require gas, a driver, a drive train, and brakes. A 1908 Ford got you from point A to point B faster and more comfortably than a horse — and so does the 2008 model. Yet many would say due to the myriad improvements over the last 100 years there’s been some sort of paradigm shift from 1908 to now.

Show me. Where is it? Does the ’08 version fly? Does it drive itself? Does it make its own fuel? No, it gets us from A to B faster and more comfortably than a horse. A paradigm shift was when the car replaced the horse.

Segue to real estate brokerage.

It was Saturday in the middle of a cloudy October in 1969 when I first stepped into a real estate office as a licensed agent. Not much has changed in the ‘paradigm shift’ kinda way.

Before you start your enraged fingers racing over your keyboard, read on.

Sure, there were no computers, no internet, no 2.0, not even 1.0 — hell we were barely 0.0 back then. Still, we did then what we do today. We seek opportunities to get in front of qualified prospects in order to make our living. We took listings, represented buyers, used the MLS, had to deal with contracts, dealt with lenders, Read more

Hyper-Local Blogs — Mr. Purcell? You’re Officially Outed

Last Friday an agent and fellow blogger wrote a post about hyper-local blogs. Spencer Barron decided the subject needed a Devil’s Advocate. His post was a fair one. I commented then called Spencer. His most salient comment was this — “I’m still looking in vain for the agent out their dominating with a hyper-local blog.” (paraphrased wildly) There are already those out there who claim to have one, and are do well with it, very well. I disagree however with their assertion the blog their maintaining is a bona fide hyper-local. I’m a purist on this subject, and not only drink the Kool-Aide but mix it. 🙂

Last October I wrote a piece on hyper-local blogs. I essentially claimed outside of owning a printing press with the original plate for $100 bills, that was one of the best ways to earn money as a real estate agent. I haven’t changed my mind. In fact, Brian Brady introduced me to another local San Diego real estate guy — Sean Purcell. Turns out Sean’s office is just down the street from my satellite office. (I allow them to bill themselves as Starbucks, but they know the real scoop.) 🙂

So we’ve met a few times now. Sean is technologically ahead of anywhere I ever hope to be. I like him, among other reasons ‘cuz he agrees with my thinking on hyper-local blogs.

While at lunch I told him I thought the first agent who set up 4-5 hyper-local blogs in La Mesa, a San Diego suburb, would print money. After some back and forth he totally agreed.

Fast forward to the other day. We’d met for coffee and were revisiting our above mentioned conversation. And that’s when he did it. He said he was gonna launch the La Mesa blogs himself. He said it while looking me right in the eyes. He never even blinked.

After that we went back and forth about how to cordon off the different neighborhoods based upon our local knowledge of the city. It’s not a large city — its population is about 50,000. The blogs won’t cover every single Read more

Unchained: Increasing Your At-Bats — Seeing Your Own Gold

I’ll be speaking at Unchained — sharing what I’ve learned about creating new business through my online efforts. This post is about marketing. BawldGuy Marketing might just be the oxymoronic phrase of the year. 🙂

I’ve never understood the finer points of marketing. It takes a different kinda mind than the one with which I was gifted. (At least Mom said it was a gift.) There is a definite science to it. It’s hard to deny there’s also a certain art to successful marketing. To those who are good at it, I offer my profound respect.

Over the years we learn a bit as we watch the marketing masters. (The next original marketing thought I have will be the first.) I don’t think I’m all that in marketing, ‘cuz clearly that just ain’t the case.

I’m Japan.

They don’t produce many original products — they take a product or idea and put their spin on it. They see their own gold in others’ ideas.

Although I certainly lay no claim to making particular marketing ideas better, (a laughable concept if ever there was one) I do reshape them to fit my company’s agenda. What may not work for me as originally designed, works like gangbusters when tweaked juuuust a little bit. Sometimes I just extract one extraneous factor from a major marketing concept.

Here’s an example taken from my own personal WayBack Machine.

About 20 years ago I began sending out targeted letters to local investors. Original, huh? Anyway, the results were OK, calls were coming in and business was being done. However it wasn’t delivering the results for which I’d hoped. Then one day I remembered a book I’d read, written by a local guy who’d transitioned from a totally unrelated industry into investment real estate. He wasn’t sending letters. He was cold calling — except he added his own twist.

I adopted his new twist, but into my letters, not phone calls. The results were unexpected. What was this brilliant new angle? He simply took pictures of the properties whose owners he was calling. The owner would be politely trying to get Read more

Rock Stars Aside (Please, Lord?) My Take On What Matters

You’re a real estate agent? You wanna be a rock star? Be my guest, as there’s room for everyone and every approach. Frankly, as a graduate (with honors) from The Old School, I’d prefer a somewhat different approach, one that has survived the last several thousand years. I’ll get to that later.

First I’ll use a present day example of a different approach.

The example I’ve chosen is not a rock star but a sports figure. I think talking about real estate agents as rock stars has been, at least temporarily turned into the third rail. 🙂

For those not into football, specifically the NFL, there’s a running back in the league named LaDainian Tomlinson. (Known universally as LT) As luck would have it he plays for the San Diego Chargers. Simply put, he’s the best running back of his generation.

One must go into the archives of the 1960’s NFL highlight films to find a football player scoring a touchdown and reacting as if maybe he’s been there and done that a few times before. No dancing, no ‘look at me’ gyrations, no asking the crowd to cheer more loudly. When LaDanian scores, he finds the nearest referee and respectfully hands him the ball. On the way back to his teammates on the sideline he humbly accepts their heartfelt congratulations, then finds the bench and sits down until called on to do his job once again.

LT let’s his on-field performances speak for him.

Back to the different approach. I wrote a post last night…What Really Matters?… approaching this from a slightly different angle.

It’s known as The Old School.

The Old School teaches so many principles which these days are under attack. I’ll deal with just one here, one of my all time favorites.

RESULTS

Nothing trumps results. Let the glitzy agents do their thing as it won’t matter unless in the end they produce results. Same goes with vendors — those who offer a service or product consistently producing the promised results are still around. They are the ones who love BloodhoundBlog too. 🙂

BloodhoundBlog is all about results. It’s what drives the bus here. In fact Read more

Like a Dog With a Bone — Vindicated By a Super Star — Hyper-Local Blogs Rock

No less than Seth Godin has now come out and said it’s the only way to go. Even went as far as telling agents to quit otherwise. 🙂

Seriously, take a look at what I’m talking about. Yeah, yeah — I know Greg already beat me to it. So what?

Maybe it’d be better if you read (Reread without scoffing?) something from the archives

I feel so vindicated. 🙂 What cracked me up most? He used high school sports as an example to include in your blog, or ongoing conversation. Go figure. Seems like I’ve read that somewhere before.

The folks doing this best? Our own Eric and Teri. Eric is showing agents how, while Teri is an agent doing it in real time.

Life is good.