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The Intuitively Backward 80-20 Rule - 03/31/10 11:52 AM
We all know the 80 - 20 rule. "20% of __________ account for 80% of __________." Well here's a backward twist that will expedite the growth and value of your business. Most of us want to get better at what we do. To do this we work on our weaknesses. We get training to gain knowledge that we lack. We practice or roleplay to build skills that we don't have. We make resolutions to do the things we'd prefer not to have to do. All of these are necessary parts of improving ourselves and our businesses, and we need to be (0 comments)
Humbling Exposure Within Active Rain - 03/29/10 11:02 PM
When Patricia Kennedy included one of my blog posts from last week in her Last Week On Active Rain: March 21st-28th post, I felt honored and I appreciated the recognition. I had no idea what was going to happen next. My inbox started filling up early in the morning with notifications from Active Rain. Comments to my post were piling up. In less than 24 hours Nearly 100 of you have commented on my post, and nearly 5,000 of you have read it. Wow! I have progressed throughout the day from feeling honored to feeling humbled. Active Rain is truly ACTIVE! (5 comments)
Before Judging The Next Short Seller... - 03/29/10 12:36 AM
In the midst of one of the busiest real estate weekends I've ever had, I spent some time with a potential short seller. My story is short, too, because the seller deserves privacy and I'm not going into a great amount of detail. I nearly shed a tear when I saw their home. I thought it was staged, but it wasn't. The care and attention to details conveyed by someone who is faced with losing almost everything tangible was moving in itself. On top of that the seller's attitude of cooperation and helpfulness, when there is nothing self-serving to be gained from potentially (5 comments)
Not About Points Doesn't Mean Pointless - 03/28/10 03:40 AM
During this last week I have hit a stride with something that up to now has not been a part of my real estate business; blogging. In the process I've been accumulating points, I've been featured a couple of times (thank you!), and I've exercised my brain to boil down what have been some important principles and practices in my business into concise and meaningful morsels that might make a difference in your business, or someone else's. I've also been reading your posts, commenting on some of them that I've found interesting, helpful, curious, and in a few cases just posted (7 comments)
The Discipline To Listen - 03/27/10 08:18 PM
What I find to be one of the most annoying aspects of working with fellow real estate professionals is hearing arguments to my feedback. What I find to be one of the most difficult aspects of working with fellow real estate professionals is maintaining the discipline to hold back arguments to their feedback. Is the purpose of feedback to start a discussion, or is it to offer or glean insight from a different perspective? If 5 agents tell us the front door at our new listing is a terrible color and makes the whole house look ugly, are we better off trying (6 comments)
Septic Inspections: Buyers Must Attend - 03/27/10 05:36 PM
When buying a home that is served by a septic system, hopefully the septic system is the dirtiest system serving the home. That is as it should be. When it comes time for the septic system to be inspected prior to the sale, buyers often don't want to be around. But it is quite important that they be there and learn everything they can learn about their new dirty system. Since septic systems are pretty well hidden away underground, especially older systems without any risers, they aren't exactly convenient to keep an eye on. And just exactly what condition they are (5 comments)
Does Your Client Want To Kiss You? - 03/26/10 10:26 PM
Client feedback is great. They see things in ways we don't expect, and they express their appreciation for our work in unpredictable ways. Today a client called me and told me that when his lender told him the rate she locked for him yesterday, he just wanted to kiss me! Before we wrote his offer, I explained at some length how the seller's contribution to closing costs would affect his mortgage, including the buy-down of his interest rate. Conceptually, he understood that, and we were successful in negotiating a large seller contribution. But yesterday he was shocked at just how much impact (3 comments)
More Streams Of Business - 03/26/10 08:35 PM
I occasionally take a few minutes to do a year-over-year comparison of my streams of business. Today was my day to do this. When is your day? My approach to growth is to start things that are long-term sustainable, and add new ones as I have available resources AFTER whatever necessary resources are spentd to keep the already running machine, running smoothly and producing business. What I look at first is whether or not I've lost any streams of business. In the last year I have not. There wasn't any type of fruitful advertising that I stopped doing, there weren't any (1 comments)
Help The Competition - 03/26/10 02:19 AM
To some degree our colleagues in our respective local markets are our competitors. But don't lose sight of the fact that they can also be our team. Some of the best streams of business we can build, grow out of teaming with our local competitors, whether they are within our brokerage or competing brokerages. Might we help them compete better against us? Sure. And vice versa. But if we help each other become more competitive with each other, we're also helping each other become more competitive against all of the other competitors we have. That's a pretty attractive proposition, if you ask me. (2 comments)
One Thing To Improve Your Business - 03/25/10 02:36 PM
Today, and today only, you have an opportunity and an obligation to yourself to improve your business. You can't wait until tomorrow, because tomorrow brings a new opportunity and obligation. Today, use it or lose it. Real estate businesses like all businesses grow one piece at a time, gaining momentum and size the more regularly the pieces are put in place and the more lasting each piece will be. If your business hasn't been growing lately, then you probably aren't putting new little pieces in place every day, day after day. Every day before I leave the office or stop working, (3 comments)
Big Tax Credit Blunder - 03/24/10 03:59 PM
By now nearly everyone involved in real estate is well aware of the coming expiration of the buyer tax credits. Did you know that some of us are using it to LOSE clients? Some buyers care more about the numbers than the house, but not most. First and foremost a majority of buyers want to enjoy their new home. The money almost always matters, but seldom at the expense of the feeling factors. As professionals, we MUST understand the goals and circumstances of our clients well enough to know whether they are more committed to taking advantage of the tax credits, (102 comments)
Social Non-Media - 03/21/10 02:13 AM
Social media has had a dramatic effect on the ways that many of us in real estate related work connect with our clients and prospects. Although some of us are way behind the curve or even in denial, most of us are at least dabbling or thinking of dabbling in social media, while some are living in social media. As important as social media is, it also poses a danger. It doesn't replace direct personal interaction. We as professionals span the spectrum from social media denial to social media nerds, and so do our clients and prospects. We have to connect (42 comments)
Showing Up For Work - 03/20/10 12:46 AM
In January, 2009 when real estate activity was depressed and many real estate agents were letting the market dictate their work habits, I routinely spent time in the office, sometimes keeping the office open late just so passers by could see that somebody in real estate was working, after hours no less, even if the market was pretty dead. And so it was one Saturday evening when I was in the office after hours and the phone rang. It was a fellow agent from one of our company's other offices, who had just met a prospect near my office and needed access (5 comments)
Defects And Risks - 03/19/10 01:40 AM
When was the last time a salesperson pointed out some defects and risks with something you were considering buying? It doesn't happen that often. But a good agent, in real estate or any other field, isn't first and foremost a salesperson. An agent is a representative of the client's interests, and a good agent not only understands and practices this principle, but vigorously practices it. Real estate clients often ask "what would you do?" Sometimes the honest answer isn't what they want to hear. Often they are looking for assurance that they are not making a mistake based on their own (2 comments)
Short Sales Not All Bad - 03/06/10 02:13 AM
Some brokerages are no longer willing to participate in short sale transactions, and who can blame them? Most of us have either had bad experiences or heard horror stories from others about short sales turning into nightmares for all involved, especially for buyers and sellers. It's definitely a positive development that there is growing caution with respect to short sales, because there are all sorts of unknowns and risks associated with them that are at a minimum, magnified in comparison to non-short transactions. And differentiation in the marketplace, in this case between brokerages and other professionals who will work with short sales (0 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.