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Tag: Real Estate (page 1 of 2)

March 8, 2012

Two Years

by

Realtor, Surfer-in-Training

Author website

real estate newbie

Two years. How quickly time goes by. Today is my two year anniversary into the wonderful world of real estate. Initially, I was baffled by what I considered to be the industry’s loose professional standards, success without merit (seemingly so), and what appeared to be utter, blind luck on the part of some ‘top producers’. How have I changed my mind since then.

There aren’t many industries in which if you don’t produce results, you don’t eat. Period. No gimmies, time outs, or breaks. We have all seen too many get a free lunch, a pass through a life of effortless mediocrity – particularly painful to see in the military/government sector, sucking on the taxpayers’ tit. There are too many free passes in today’s America. Yet real estate as an industry is completely cold, uber competitive and unforgiving, a paycheck being the only worthwhile reflection of hard work – and very often, even when you ‘work hard’, the results are minimal if any. Although the low entry requirements (“hey, do you have a pulse and can you blink your way through an entry exam”) will continue to allow a questionable level of buffoons into the industry, the harsh realities of the real estate usually weeds them out: Either you sell or you look for another job. Sure, there are plenty of agents who are complacent being average and are doomed to a career of sub-ordinacy. Sure, some agents have luck, whether it is by family/friend connections, etc. but that does not typically equate to a successful real estate career. Sure, some agents boast of having been in the industry for 30 years, yet this is an industry in which time in service in it of itself does not translate into prosperity – or even expertise.

But to be successful in real estate, well, that takes an individual whose work ethic is only matched by his/her determination and perseverance. The best in real estate, such as Jeff Brown, are among the best in ANY industry. Success in the real estate industry reflects hard work, intelligence, and expertise earned through years of having boots on the Read more

November 17, 2011

Snow you can get outside with!

by

Realtor, Media Mogul

Author website

Greg posted a photo of snow, showing it as a great closing argument for Phoenix.  As usual, he’s right!  We had our first snow of the year at Lake Chelan and I just have to share it!  While Greg has a great point about the snow, take a look at these beautiful scenes.  For many, snow doesn’t mean being indoors at all.  Some of us like the snow!

The first snow means no lawn mowing for months!  People were out all over town enjoying the beauty of the day.  With the right equipment, it is hardly a hassle at all to deal with a little snow.  I have a big driveway, but a snow blower on the front of a tractor clears it quickly.

Arizona is a popular spot this time of year, even for folks from our area.  The snow does make walking more challenging.  This is not Seattle, and we have efficient plows that clear the roads, although they too are more of a challenge than dry pavement.  But, it is beautiful and we could not do our skiing, snowmobiling, snow shoeing or just playing around in all the white without it.  I just had to put up a few pictures for the other side of the story when it comes to snow!  With that, enjoy the warm Phoenix weather!

November 5, 2010

I don’t play Farmville and I don’t disagree with Brian Brady!

by

Realtor, Media Mogul

Author website

But I do question whether prospecting using facebook is the most efficient way to prospect.  I’m sure everything Brian Brady said is correct, he’s just that kind of a guy!  I’m also a one person office and time spent trolling facebook for leads isn’t as quick as calling up expired listings in my area, or working the internet where buyers are looking for homes!

For me, there are just quicker ways of getting calls from interested buyers than slogging through my facebook friends’ friends, tracking down phone numbers and calling them.  If there was some clever tool to just get those folks names and numbers (Greg has probably written one), with some sort of a relationship graphic so I have something to chat with them about, count me in on the calling.  I don’t mind cold calling.  Expired listings are quick to get and easy for me to call.  They can be pretty productive too.

I spent some time playing on Ebay’s classifieds today.  I’ll tell you how that works out when I know, but being where buyers are looking usually works pretty well for me.

So, I’m not disagreeing with Brian, I’m just wondering, like apparently the Zillow CEO is, if facebook is worth the time.  I haven’t found it to be the most productive way to do business prospecting.

“We’ve taken a number of swings at social (networking) that have not paid off. We might have invested less,” said Spencer Rascoff, chief executive of Zillow.com.

His site has some social networking features and some integration with Facebook and Twitter – mostly as a result of following the conventional wisdom that any vertical could benefit from a social emphasis.

What Rascoff discovered, however, was that real estate is one area that truly doesn’t lend itself to social.

“In our category, we have not found it to be a social experience,” he said. “When you’re looking to buy a home, your network is small – it’s you, your spouse, and your real estate agent. You don’t tell your 300 friends, ‘I’m looking at this house.’ And especially in this market, Read more

May 21, 2010

What does it take to be a successful real estate agent?

by

Realtor, Surfer-in-Training

Author website

Being relatively new to the real estate industry (coming from a military background, followed by some time in the NYC finance sector), I came into it wide-eyed, green and full of expectations, realistic or not.  I believed that in real estate, like most facets of life, you could succeed through hard work, perseverance and a healthy dose of common sense.  Now I’m beginning to question if I had any of that right.

Intelligence.  An asset that will guarantee your success regardless of what you do.  But is that applicable in real estate?  I’m not saying I’m the smartest person in the room (even when I’m alone), but I have met some real estate ‘professionals’ who really push this issue to the brink.  And I’m talking about top-producing agents!  Just a few days ago, I overheard a conversation where an agent, who just got a listing for over $2.4M, asked another if he knew what ‘TMK’ meant. Really, I am not making it up.

Hard work.  Sure, most successful agents are hardworking.  But in it of itself, hard work does not guarantee even the slightest bit of measurable success in this industry.  Sure, having systems in place to ensure efficiency should make the work load a bit easier to handle, but I’m finding more and more than even when you do all the things that the experts say you should be doing, success is not necessarily within reach (at times it seems to be the opposite, actually).

Professional appearance.  Well, this one may be more touchy to me since I live in a tropical area where casual attire is the rule of the day. But really, how is it that people look like they just rolled out bed, slapped on whatever dirty clothes were on the floor, slipped some beach flip flops and land multi-million dollar deals?  Sure, I get it, ‘Aloha Friday’, but that could mean a number of things (i.e. nice shorts with a tommy bahama shirt) besides just being plain sloppy.

Knowledge of the market.  I can’t wrap my head around this one as I thought for sure this would be one area Read more

May 2, 2010

Professional Development, Are You Doing Enough?

by

Realtor, Surfer-in-Training

Author website

First, I must say that it is an honor to be able to share my thoughts with such a distinguished audience.  This site and its members has been essential in my professional growth and development.  As such, I found it fitting that my first post should be about professional development.

As real estate professionals, we have a duty to develop our real estate expertise and industry knowledge in order to keep up with the changing markets and best serve our clients.  Yet everyday I am seeing (both online and offline), professionals who are content spouting off ‘advice’ (and I use the term loosely here) on topics about which they apparently are ill-informed.  For example, a few days ago I overheard an agent telling their client about a ‘real estate investment opportunity of a lifetime’ (that’s an actual quote, I couldn’t have made THAT up).  However, in their cashflow worksheet he failed to take into account property taxes, estimated repairs, projected vacancy rates, etc. which when calculated would make this cash cow into quite a money pit.  In addition, although as professionals we are expected to have a certain degree of industry expertise, we are NOT an attorney or a tax adviser so refer any questions outside your scope of expertise to the appropriate party!  I saw a post on a national real estate forum in which an agent answered a potential buyers question:  “I am considering buying a $52K property that I intend to rent out to bring in income, do I qualify for the $8k tax credit”.  The agent’s response was an unequivocal YES, “Yes, you qualify and it’s the perfect time, I am a Realtor in your area so give me a call”.  Does anybody see something wrong with that answer?  I won’t go into detail as to the many ways in which he is wrong, but you get the point.  Don’t pretend to be an expert in something you are not!

I fully realize that this is not applicable to BH members/subscribers, as by nature Bloodhounders are professionals who seek to raise the standard by continuously pursuing self-improvement and knowledge.  Read more

January 26, 2010

Finding versus Discovering

by

Realtor, Renaissance Man

Author website

Take me home

Do you still buy magazines and books? Or are you hell bent on reading everything on the internet? Do you love statistics? Has Google Maps got you salivating for bigger and better satellites? Do you love good graphs better than sex? Is a bigger IDX better? Do you want to be completely plugged in, connected, always on line?

Well it turns out that I guess I’m more dog than human sometimes, especially when it comes to what makes a great web presence, and how best to graft a marketing strategy. I’ve spent some time today, you see, smelling other dogs beeeeehinds, and I think I’ve picked up the scent of something y’all might want to bury for a rainy day.

The scent I’ve picked up is either the Finding or the Discovering scent. I think it may be important to think about these two concepts as you put together your marketing, for your Web presence, and maybe more importantly, your belly to belly presence.

Turns out, you see, that people are still buying magazines. Though through the internet we can get all the information on who’s doing what to whom, how they’re doing it, why it shouldn’t be done, and where we can go to get more information on everything we just digested, people are still buying and reading magazines. Wonder why?

Turns out that people simply like to discover things, not just find them. Magazines, you see, lie around waiting for just the right moment to spring into our consciousness. Sure, you want the 4 bedroom, 2 bath home in Elevado Hills, with view, pool and lots of land, but sitting in front of an agent’s IDX (even the good ones) just isn’t the same as opening “San Diego Magazine” and seeing a home just like the one you imagine living in. Or you’ve been watching the statistics from a great blog site or newsletter from Brian or Scott or Mark or Tom on rates and terms and the market in general, and you’re educated and knowledgeable because of this. Read more

June 9, 2009

Those Who Can Not Remember The Past Are Condemned To Repeat It

by

Associate Broker

Author website

Add This 1934 Cartoon To The “There’s Nothing New Under The Sun” List:

Click for larger image

Click image for larger version

If you think the housing market is bad now – just wait until these economic policies drive interest rates up… and don’t kid yourself – they’re heading up NOW.

George Santayana knew what he was talking about.

It’s a good time to buy real estate – while you can afford it.

May 14, 2009

How we say_What we say_Is important

by

Realtor, Renaissance Man

Author website

This is actually a post about transparency, but as you’ll see, I am not a big fan of the ‘word’ itself. The idea of belaboring a word all of you seem to take for granted came about as I was talking with Scott Schang a few days ago. We were just enjoying each other’s company, doing real work, a lender and real estate guy talking about the industry, our own ideas, sharing and laughing, scribbling notes and taking stock of the ideas that just never seemed to quit coming.

For me transparency is about saying what you want to say, showing what you want to show, sharing what you want to share, and doing it in a manner and method that is most likely to allow the reader or listener to understand. In order for that to happen the writer or creater of thoughts and ideas, facts or fictions, must decide up front HOW they will present the information.

Let me give you some examples.

Greg Swann

“I write well. I’m a tough read here, but I can be much, much more difficult to read. I understand grammar the way other people understand cars or football or cooking, and I can build perfectly valid sentences in English that almost no one can understand, much less diagram. The English language is like Jazz to me, and it ripples and rolls through my head all the time, making connections like lightning strikes that take many paragraphs to explain to other people.

Brian Brady

“I posed this question at Unchained Phoenix ‘09 and you would have thought I asked the REALTORs to walk on coals…at first. A few bright agents listened to my reasoning:”

Geno Petro

“When I awoke from my dehydrated coma and rack focused my blurry vision toward the general direction of the deactivated alarm clock on my night stand, the numbers 7:07 burned my retinas digital red. I jumped up in a virtual panic, threw on a suit and Hermes noose, splashed on a handful of Bulgari, gargled a Red Bull and Diet Coke highball and flew out the door in search of my car. Alas, God was looking Read more

April 14, 2009

Ladies and Gentlemen….Lower Your Prices By Making things Products…

by

Instigator, anthill kicker.

Author website

I’ve been a freelancer, mostly, since November of 2007.  (I closed about 4mm in loans in 2008, mostly 1st quarter).  I’ve built websites, blogs, I’ve set up CRMS, and I’ve created landing pages, and sold a variety of e-books.   I created an ill fated subscription service, (got it up to 30 members, then remembered the things I hate about loan officers) and I’ve built a ton of websites, done a ton of writing, and had an utter blast.  I’ve delivered sometimes, f’d it up sometimes, and learned more faster than I ever have at any period of my life.

One of the things I learned…and that Dan Kennedy would freak out about is that lowering your prices means more profit, more relaxation, and better, happier clients with a chance to succeed.   I used to charge people about $2,000 per blog.   And I’d do a reasonable job with the blogs. I’d spend time training people in what WordPress does, I’d train them in how to post, I’d share my analytics with them, and I’d go through it.  But for $2,000, you gotta have value.  So people would continue to call.  The service I offered wasn’t worth $2,000 to them, they felt like something MORE was needed.  And honestly, they were right.

I had more time sunk into support and followup than the stuff that I was charging for.   So, I thought some more about it.

And decided to lower all of my prices on everything I do.  Because if you’re only charging $700 or $800 it’s a far different situation than $2,000.   People can afford it, and it’s easier to meet that expectation.  They have a level of indifference about the outcome because, honestly, $700 bucks isn’t going to make or break most months for most people.  You can increase value by adding more information (videos etc) and it’s a BONUS and not an ENTITLEMENT.

To do that, though, ya need a defined process.   The blue ocean thing: everyone was using the Thesis framework for blogs, why not make ’em look cool?  I mean really cool? Take away the option from the customer, sell a Read more

October 21, 2008

I Still Haven’t Found What I’m Looking For

by

Realtor, Rabble-Rouser

Author website

I have been thinking alot lately about RE Web 2.0, particularly in light of the recent news regarding Redfin and Zillow’s current layoffs.  Greg also recently posted regarding the current state of the Realty.bots.

“Indeed. We have seen the future of real estate marketing — and it is us.*”

I am not entirely convinced it has to be all us.

I am a process guy.  Prior to delving into the real estate business, I developed sales and marketing strategies for technology firms – many of which targeted supply chain solutions.  When I approach a process, I try to focus on the inherent value a particular set of activities delivers.

Perhaps the double edged sword in the real estate industry is that we are all independent contractors – we approach our businesses in differing ways.  On one hand, we have the ability to run our businesses in a way that capitalizes on our strengths.  Some of us use a consistent process to bring a deal together, some of us don’t.  I suggest that many consumers approach the purchase and sale of real estate apprehensively.  Many simply don’t know what the correct process is for purchasing or selling a property and they look to a professional to provide the knowledge and expertise to consistently deliver a successful closing.  Unfortunately, not all agents are created equal, therefore mileage varies – alot.

I believe that the myth to the core of the business of buying and selling property lies within the MLS.  This process is not all about the data.  While the data is key, it certainly does not provide a consistent process for facilitating a transaction – there is a natural progression to a transaction.

Up to this point, if not the most successful, at the least the most recognized RE Web 2.0 search solutions have focused their solutions surrounding the myth of the real estate transaction – it is all about the data.  Again, the data is important, however, it is only part of the process.

My frustration with the current search solutions is that it does not address the natural progression of the real estate transaction.  While extremely powerful, Read more

October 17, 2008

Greed is Good: How the Rich Get Rich

by

Realtor, Rabble-Rouser

Author website

I think Gordon Gecko was on to something, greed is good. In fact, the combination of greed and fear are even better, or at least they are telltale signs, it seems – for when to enter or exit the market.

Amidst the financial turmoil, Charlie Rose recently interviewed Warren Buffett regarding his thoughts regarding the financial crisis we’re facing as well as to discuss his $3 Billion investment in GE.

A Conversation with Warren Buffet courtesy of Charlie Rose

I happen to like Warren Buffett a great deal. He’s smart yet humble. Sometimes it is difficult to believe that this folksy cornhusker is a billionaire. When Warren pulls the trigger on an investment – and they are generally not small in size – people stand up and take notice. Clearly, you don’t become the wealthiest American by shooting from the hip.

Headlines today indicated that Warren is telling everyone to buy US stocks. Perhaps you’ve heard his quote – I’ll paraphrase:

When people get greedy he gets fearful, when people get fearful, he gets greedy.

I was left with a certain level of confidence despite the current financial and housing crisis – Warren is investing – again, not alittle – but alot. He’s not waiting on the sidelines, he’s investing now. Our stock and housing markets are ripe with opportunity.

Granted we’re all not blessed with billions – but interestingly enough, those who do have the resources should be investing – not in the future – but now. There is and will continue to be turmoil, however, as Warren stated, it is best to be approximately right rather than precisely wrong.

My take and my advice to my investor clients as well as those who are holding out for “the deal of a lifetime”. I think we’re approximately there.

Could prices fall further? Yep, I think they might – but would you rather buy with an approximate risk or some further loss or miss the opportunity all together?

Perhaps this is the most simple example of exactly how the rich get rich. When the majority sit Read more

October 9, 2008

Should Walmart Sell Real Estate?

by

Realtor, Rabble-Rouser

Author website

It appears that Coldwell Banker may be following the Walmart approach to real estate pricing – recommending that sellers cut their home prices 10% across the board – not locally, but nationwide.  I can’t help but find the similarity to the McCain approach to cut government spending – simply freeze spending across the board.

Shouldn’t price cutting be done with a scalpel-ly machete?   Pardon the pun, but in many cases 10% doesn’t cut it.

I had a very difficult discussion today with the developer whom I represent regarding a new and very aggressive pricing strategy for their condominium project slated to deliver just about when the snow flies.

New lending guidelines regarding new construction could potentially crush them – even with units under contract, no potential buyer can close without at least 51% of the units being under contract – we’re not even close.  While Chicago may be a stable market per Fannie Mae guidelines, in light of the recent Wall Street meltdowns, I suspect the we may be in a declining market faster than you can say bailout.

If they don’t get aggressive quickly, we as taxpayers may just be owning 8 stunning, uniquely contemporary condos.  My recommendation was a bit more dramatic – depending upon the units, as much as a 15% price cut.  They didn’t take it well.  They “hoped” to get the prices we had established – they forgot the second half of the word  – “less”.  The good new is – we have time to thoughtfully approach the pricing strategy.

If we aren’t having the tough conversation with our sellers regarding pricing – okay, I’m going to go there – aren’t we like Congress, complicit in extending this housing market nightmare by not doing what we’re paid to do – provide knowledge, expertise and guidance?  While I can’t completely fault the strategy that Coldwell Banker wants to deploy, where did 10% come from exactly?

As far as I’m concerned regarding my own client’s situation, the comps matter significantly less than current lending guidelines do.  If mortgage money for conforming loans is still relatively plentiful to the well-qualified buyer, my client’s units need Read more

October 7, 2008

Does Your Home Equity Have 4 Wheels?

by

Realtor, Rabble-Rouser

Author website

I received a call the other day from a young couple wanting to take a look at my new construction project.  Because the building is starting to look more and more like a building, I recommended that they meet me at the site so we could walk through the units – albeit still a skeleton.  For those who can’t visualize the space while it is taking shape, I knew it could be a crap shoot, but hey – they could at least see it in progress.  The plans were taking life.

I was at the site a few minutes before our scheduled appointment, checking up on the progress, pleased to see that the steel staircase had been installed.  We could use stairs, not ladders.

At roughly 2:00pm, a jet black, late model Range Rover Sport with chrome tipped exhaust screeched to a halt in front of the building.  It was snazzy.  Out hopped my potential clients – young – attractive almost 30-something couple.  Unfortunately, not quite dressed to walk through an active construction site – but we’d manage.

We introduced ourselves.

“I like your car”  I said.

“Yeah – it’s a sweet ride”  the husband said.

I handed them the marketing brochure and rattled off my schpel regarding the developer, the construction method, available finishes, delivery etc.  I asked them about their timing – what was prompting a the search for a new home?

“We want to take advantage of the market” the husband stated.  “I’ve been reading that home prices are way down and developers are really hurting – we want to make a deal.”

Can’t say I haven’t heard that reason before.

“Do you have a home to sell?”  I probed.

“Umm – we’re not sure if we’ll sell.  I think we may keep our current place – at this point, we’re expl….”

“We’re expecting a baby and we need more room” the wife interjected.  “We have a 2 bedroom condo that we purchased when we got married 2 years ago in Lakeview.  We’re not sure what we can get for it – so we don’t know if we should sell our not.”

Ahh – the voice of reason.

“Honestly, that is Read more

October 5, 2008

Please Come Again

by

Realtor, Rabble-Rouser

Author website

According to the clock on my dashboard it was 2:43pm – where had my day gone?  – I couldn’t help but wonder.  I had just wrapped up with my client who proudly unveiled the newly renovated rental units at the building he just purchased on Washington Park – the proposed location of the Olympic Stadium if and when Chicago should land the 2016 Summer Games – best described as an “up and coming” part of Chicago’s south side.  He wanted me to see what he had done and wanted my assurance that he could get the units rented at a much higher rent than was usual for the area.  From what I saw – he would have no problem renting the units – for how much?  that was yet to be seen.

I was hungry and I hadn’t had anything to eat – with the exception of the venti Red Eye I’d picked up earlier that morning during my walk with my dogs – breakfast.  I had to be back on the north side of town for a 4:00pm appointment, so I knew I didn’t have time to eat – and there’s scarcely any place to eat nearby the building – or at least that’s what I thought.

Okay forget about lunch – I’ll just pick up a diet Pepsi I figured – I can stop at the Shell station before I pull on to the Dan Ryan to head back north.  As I began my journey, I turned onto one of the wide boulevards lined with overgrown empty lots and neglected buildings.

I wasn’t paying attention to the street names – I was simply heading towards the freeway when I noticed a stand alone convenience store – a building at a nondescript corner at the fringe – on the “other side” of the up and coming neighborhood – not sure where the real boundary lay, but I had the distinct impression it wasn’t “up and coming” any time soon.

I couldn’t help but notice the store – it was the only business operating in several blocks.   I’m sure most could identify with seeing Read more

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Inventing Real Estate 2.0

Welcome to BloodhoundBlog, the national real estate industry marketing and technology weblog written by, for and about real estate professionals. Better yet, welcome to the wired world of real estate. We are busily inventing Real Estate 2.0 – technology, marketing, service and salesmanship. Like all Bloodhounds, we are smart, frisky and fiercely independent. We've built a spot on the earth – beloved over all – where each one of us can be who we are, no matter who that might be. We are committed to an idea of excellence that will flush the bums, the con-men and the crybabies out of the real estate industry. If you yearn to have your failures excused, your moral lapses absolved or your boo-boos kissed, seek elsewhere. But if you are sick to death of mediocrity – welcome home. Read all about us, subscribe to our feed and steel yourself for the hunt. We work hard, we play hard, we learn everything we can – and we bow to no one.

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