Barry's Blog

Holding to your OWN standards is long term strategy - "Easy Route" toples in a storm

Barry Owen (Keller Williams Realty) — Mon, 09 Nov 2009 17:58:59 -0600

Seth Godin has this uncanny knack of taking ideas out of my head and writing them in the simplest of ways.

For example: When I think in paragraphs about little things that bother me, Seth writes blog posts like THIS:

Take What you can Get

Where he says:

"Like bending a sapling a hundred years before the tree is fully grown and mature, the gigs you take early will almost certainly impact the way your career looks later on. If you want to build a law practice in the music industry, you'll need to take on musicians as clients, even if the early ones can't pay enough. If you want to do work for Fortune 500 companies, you'll need to do work for Fortune 500 companies, sooner better than later.
The definition of "can get" is essential. Maybe it seems like this gig or that gig is the best you can get because that's all you're exposing yourself to. Almost always, the best gig I could get is shorthand for the easiest gig I could get."

Stay true to your personal standards!

Know your WORTH!

COMMAND the respect that you DESERVE!

Move with confidence about YOUR marketplace and don't wander too far from "home".

I know all of this can be difficult especially when you're presented with "Logical Justifications" for violating your own standards,

Things like:

"Will you cut your commission for me on this deal . . . If you don't, I'll buy from someone who will and you'll get NOTHING . . . Wouldn't you rather have some than none?"

Don't do it . . . See Seth's Number 1. above . . .Do you identify yourself as a "discounter"?

Your personal standards and adherence to them is what shapes the future of your career.

or . . .

"Will you list my over-priced and under-maintained home right smack in the heart of your area of expertise - It'll give you GREAT exposure!"

or will it? . . . Do you REALLY want your sign on a dilapidated house for a long period of time where your entire sphere of influence will see it and drive by wondering why you cannot seem to be able to sell it?

or . . .

"Will you work with me to buy a house in that little burb @ 40 miles from here?"

If you don't have a lot going on, you might be inclined to jump at one of these opportunities because SOMETHING is MUCH better than NOTHING, right?

WRONG!

Don't go with "Easy" unless "Easy" aligns with your goals . . .

Otherwise, you're sapling may just grow into quite an ugly and mis-directed tree that'll fall over in a storm.

Follow what has heart and meaning for you and beware the distractors in your world.

I'm just sayin'

Best,

Barry Owen
Principal Real Estate Broker
Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215 - Green Hills

Call me: 615-568-2123
Text me: http://www.mycricket.com/sendtextmessage/ 6155682123
email me: barryowen@kw.com
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Bartering makes a great come-back as Business people learn leverage

Barry Owen (Keller Williams Realty) — Fri, 06 Nov 2009 06:25:43 -0600

NO ONE Succeeds alone!

Every business relies on LEADS to bring new "Listings" (Customers/Clients) and must develop appropriate LEVERAGE in order to sufficiently navigate the intricacies of the business and serve the needs of the clients.

We build LEVERAGE through:

- adoption of sound MODELS (Success Leads Clues - follow a business model that is working for other professionals in your field - MREA)

- Innovative creation of SYSTEMS which enable EFFICIENCY and FLOW so that the mechanical aspects of our business happen automatically in a uniform and consistent manner

- Our relationships with and THROUGH PEOPLE

Many folks understand LEVERAGE in theory, but have great difficulty when it comes to implementation because of those darned LIMITING BELIEFS swimming around in their heads and coming from other people in their environment.

A few of those limiting beliefs might be:

"It's costly and I don't have enough MONEY to sufficiently leverage my business."

"If I have to HIRE someone, I'll have to TRAIN & MANAGE them, I don't have TIME for that!"

"I don't know HOW!"

Done right, Leveraging your business does not have to cost a bunch of money or time and is not all that difficult.

Consider the power of BARTERING . . . Wikipedia defines Bartering as:

"Bartering is a medium in which goods or services are directly exchanged for other goods and/or services without a common unit of exchange (without the use of money).^[1] It can be bilateral or multilateral, and usually exists parallel to monetary systems in most developed countries, though to a very limited extent. Barter usually replaces money as the method of exchange in times of monetary crisis, when the currency is unstable and devalued by hyperinflation. Bartering is still common in the present, usually used within the Internet on sites like Craigslist.^{[2] "}

You scratch my back and I'll scratch yours.

My favorite termite inspector leverages my time by handling the termite inspection without me having to meet him by dealing directly with my Sellers . . . He gets a LOT of business from me because I tell ALL of my REALTOR friends how great he is. He's leveraging my time while I leverage his Lead generation.

My favorite home inspector does the same . . . and is a very reliable resource when I need home maintenance advice and/or referrals for sub-contractors.

My favorite home maintenance company bids any work I might need within 24 hours of my call ALWAYS and has NEVER failed to complete the work on time . . .and he handles the details directly with the client.

My favorite Title Company handles virtually ALL of my contract to close details by maintaining contact with all parties to the transaction and solving issues as they arrise . . . They call me weekly to up-date me.

A tech savvy newly licensed agent can barter with a seasoned veteran . . . "I'll spool you on the current technology and set up your leverage SYSTEMS while you MENTOR me to develop my business"

NONE of this costs extra MONEY or TIME!

Where do YOU need leverage?

What do you have in your "bag of tricks" that you can trade for what you need?

"Get this" bartering/leverage thingie, and you'll find yourself with plenty of time for generating ample leads to fuel an extremely lucrative career.

I'm just sayin'

Best,

You've got a LOT of work to do the next 5 1/2 Months

Barry Owen (Keller Williams Realty) — Thu, 05 Nov 2009 06:22:21 -0600

A little birdie told me a rumor yesterday.

She said that the Senate passed the bill to extend and expand the tax credit for home buyers . . . Now, it'll go back to the House of Representatives and then to the President's desk for signature.

My internet research for validation of the rumor netted nil, so I am still a tad hesitant to sing out victorious yet.

BECAUSE . . . I don't trust politicians :-)

Anything could change in the bill, and there's still a chance it could stall in the house . . .

Let's just hallucinate together for a few minutes and imagine that it's true (Pinch yourself).

Last I saw (Excerpted from the Tennessee Association of REALTORS weekly news digest), the bill under consideration looks something like this:

Credit available for purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction.
Credit remains at $8000 for first-time purchasers. No change to definition of first-time purchaser.
New $6500 tax credit for repeat buyers who purchase between December 1, 2009 and May 1, 2010. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years.
Income limits are expanded to $125,000 on a single return and $225,000 on a joint return. Current law $20,000 phase-out retained.
New anti-fraud limitations are imposed.

We (Professional Real Estate Experts) all have until April 30 to help the general public understand the new rules well enough to perform quickly enough to be able to take advantage of this.

I'm assuming that most of these "repeat Buyers" will need to sell a house before being able to buy another . . . and most markets are typically darned slow (seasonally) between now and April 30.

A possible "silver lining" is that there's an extra 60 days built in for the closing - thus actually adding @ 30 days extra marketing time - thereby leaving 30 days for loan approvals (cutting it tight).

Just for kicks, what kind of new purchases might start happening as a result of this new legislation?

Who will potentially start buying as a result of this?

Who do we need to educate about the benefits of listing their house TODAY so as to be able to sell it soon enough to take advantage of this tax credit?

We research and find those who have owned a home for 5 consecutive years within the past 8 years.

Let's just say they've all got great credit, and they can qualify for a mortgage of @ 1/3 of their income . . .

$125,000 income limit for single return - $10,417/mth x .33 = $3437.50 Mortgage payment ... This takes them in range for a $300,000-$500,000 home purchase.

$225,000 Income limit on a joint return - $18,750/mth x .33 = $$6187.5 Mortgage payment . . .

HOLY COW!

So a couple filing jointly can potentially (in my market assuming 5.5% interest rate) buy up to nearly a MILLION dollar home and be eligible for this $6,500 tax credit.

What segments of your market are stagnant these days?

In ours, it's that middle range and high end from @ $300,000 and up.

Many of the repeat Buyers who are interested in moving are frustrated with the inventory out there because much of it is "old and stale" . . . an influx of new listings might just start a little fire.

so . . .

Don't wait!

NOW is the time to LIST HOUSES because 5 1/2 months is NOT much time considering it includes ALL of the holidays AND the Winter ...

List them - Get them under contract - and find a new home for the Sellers by April 30, 2010.

As we sometimes say here in the South: "THAT dog'll HUNT!"

I'm just sayin'

Best,

Riviving "Real Estate Dead Spots" in your market.

Barry Owen (Keller Williams Realty) — Wed, 04 Nov 2009 06:02:08 -0600

Whether the economy is rolling along swimmingly or bucking like an angry Bull, some areas in your community always seem to "perform" better than others.

Values hold relatively steady and sales continue to happen.

These are the areas in which folks want to work and live especially when times get tough.

What of the other, less fortunate areas of your town?

Some "fickle" pockets were doing quite well in the good times, and screeched to a sudden HALT with the market shift . . . while other "Problem" areas just never seem to gain much traction in any economic environment.

Business people (REALTORS) tend to migrate towards the resilient areas because, after all, we DO have to eat therefore we go to work in the areas where inventory is selling (or get out of the business).

The issue with this as a business strategy is that those "stronger" markets get crowded, and this scenario quickly creates an ever-increasing gap from the increasingly depressed areas.

Why should the average REALTOR CARE about the depressed market areas in the marketplace?

Wouldn't it be easier to put on the blinders and stay on the path of least resistance . . . in a market segment where the work is more enjoyable and ALIVE?

I can think of a few good reasons to pay attention to these depressed pockets:

Great business people effect CHANGE in their communities and CREATE markets in Dead Zones. This is a HIGHLY LEVERAGED strategy for HUGE success. It requires high risk tolerance and patience and HARD WORK, but pays off in the long run with HUGE financial gains and a better place for everyone to live.

The depressed pockets in your market "bring down" the overall market success ... and may ultimately negatively affect the popularity of your city or community for incoming family and business relocation.

I believe that REALTORS and other business people are quintessentially positioned to be powerful influencers when it comes to creating stability in their cities.

We ALL have the capacity to build our communities.

Our community is our collective legacy.

How do we do this?

Instead of putting on the blinders and running AWAY from the problem, how 'bout running TOWARDS it with the sole purpose of discovering wherein lies the real root of the problem?

ACTIVELY and INTENTIONALLY engage yourself in being a part of the solution.

You can do this at any level from working on the streets with people in poverty to joining Boards of Directors of organizations which have the potential for effective positive change.

If you don't know of any organizations doing the "right stuff", start one!

I think if you really want to do this right your first move should be a visit with Principal and Parent Teacher Association Leader (If there is a PTA) of the local Elementary School . . . then the Middle School . . . then the High School . . . and ask them questions about their student body . . . LOTS of questions.

This is where you will learn what is REALLY going on the community. You'll learn more about the socio-economic make-up of the area and what the real root problems are.

Identify the SINGLE issue (opportunity) you discover in those meetings that tugs on your passion strings and commit yourself to CHANGING it in a positive way.

Move in concentric circles out from the school and work your magic.

Create a stir within the larger city to bring awareness to the issue and passionately advocate to the community leaders to join you in your effort.

Find Corporate sponsorship and support.

Make the SCHOOLS the focal point of everything you do - The gathering place . . . The "Safe Place" in the community.

All of this will result in a better market . . . a better city . . . and a REAL legacy.

I'm just sayin'

Best,

How many leads will be enough?

Barry Owen (Keller Williams Realty) — Tue, 03 Nov 2009 06:09:54 -0600

The short answer is that you probably cannot ever have too many leads.

Gary Keller emphasizes this with the "Over-kill ALL the time" approach.

If you're not reaching your goals each month and you have high anxiety that you don't have enough prospects in your pipeline, you are going to need to DO something about it and quit fretting.

We are entering that part of the year when NOW income is especially desireable, right?

I am coaching with several folks who brag of a "full pipeline" of leads for "after the first of the year" and are approaching panic when they think about the next 2 months.

When I wrote about "REALTOR Holiday" a while back, my challenge was for you to continue to lead generate CONSISTENTLY . . . ALWAYS!

If you are anxiety laden, you don't have enough of something . . . leads, prospects, clients . . . What is it?

Here's what I often hear:

"I have PLENTY of leads . . . I just don't have many prospects for the next few months, and I need money NOW!"

Here's how I respond:

"Quit whining! Your problem is that you do not have enough leads!"

So . . .

It's time to step out of your comfortable little zone and start doing some DIFFERENT things to generate MORE leads.

Oh yeah! . . . LOW COST ideas . . .

Knock on doors in your Target Area of Expertise.

Hang out with the "Natives" by hosting a Pot-Luck party for your target area on a random afternoon - Do this BEFORE the "normal" holiday parties commence. This takes very little coordination effort and is a very low cost way to come into contact with your sphere.

Announce your "Holiday Potluck Party" by going door-to-door with a flyer for it . . . Encourage everyone to bring their whole families.

Invite your "Mets" database to the party (through Facebook or email invitation).

Oh! . . . Be sure you've got a few of your "For Sale" signs strategically placed to stimulate random discoveries by the attendees that might lead to conversations about real estate,

Host Open Houses in your Target area during the week when people are coming home from work (4-6 or 5-7) . . . Use reflective pointer signs (It's getting dark EARLY).

Talk to strangers!

Attend every function you hear about in your community.

Don't be bashful . . . Be BOLD!

ASK for appointments!

ASK for Referrals!

OK!

Now quit stewing about things and get out there and DO this. There's no time for procrastination whatsoever . . . I figure you've 2 good weeks to get this ball rolling.

I'm rootin' for ya!

I'm just sayin'

Best,

Is April 1, 2010 on your mind? Methinks it should be . . .

Barry Owen (Keller Williams Realty) — Fri, 30 Oct 2009 07:18:44 -0500

Today is October 30 . . .

The day before Halloween

Wikipedia tells me Halloween "celebrates the end of the "lighter half" of the year and beginning of the "darker half" . . . has some elements of a festival of the dead. . . . Some believe that the border between this world and the Otherworld becomes thin on Halloween, allowing spirits (both harmless and harmful) to pass through. The family's ancestors were honoured and invited home whilst harmful spirits were warded off. It is believed that the need to ward off harmful spirits led to the wearing of costumes and masks. Their purpose was to disguise oneself as a harmful spirit and thus avoid harm.

Halloween is "also a time to take stock of food supplies and slaughter livestock for winter stores. Bonfires played a large part in the festivities. All other fires were doused and each home lit their hearth from the bonfire. The bones of slaughtered livestock were cast into its flames.^[10] Sometimes two bonfires would be built side-by-side, and people and their livestock would walk between them as a cleansing ritual.

Another common practise was divination, which often involved the use of food and drink."

Hmmm . . . I believe Halloween is a pivotal day in the definition of your success in the coming year (2010).

Each Halloween marks the "right" time for you to cast your vision for APRIL 1 - 5 months away . . . and to prepare yourself and your business to maintain your momentum through this "Darker Half" of the year.

Ward off those evil Spirits who would try to distract you . . . Spirits that might invoke:

Seasonal Depression

Loss of focus on key Business habits

Offering you permission to party in lieu of keeping your eye on your goals

Providing limitless opportunities to over-spend, over-eat, and drink excessively.

Have fun, but tame those Spirits beginning NOW.

The last thing I want for you is for you to "wake up" some time in January and realize that you are deeply in debt with few (if any) viable leads for your business . . . in a cold sweat of fear.

So . . .

Go ahead and set yourself a BIG GOAL for the month of April 2010 . . . and then set a goal for March - Then February - Then January - Then December - Then November . . .

And beginning TODAY, set your sights on that April goal and GET MOVING!

That BIG April goal will pull your through your "way-points" of the other months and the "Darker Half" of the year.

I'm just sayin'

Best,

"Offering Buyers the opportunity to Establish the Purchase Price ... "

Barry Owen (Keller Williams Realty) — Thu, 29 Oct 2009 06:19:32 -0500

My news feed from the Nashville Business Journal yesterday had this title:

Terrazzo To Slash Prices, Auction Condos

Terrazzo is a high end Luxury high-rise condominium building in the heart of Nashville and is one of several which are struggling to find buyers willing to pay their prices.

Below are a few excerpts from the article . . .

"Facing sluggish sales of its 117 luxury units, up to 30 units in The Gulch’s $68 million Terrazzo will be sold at auction next month.

Bill Barkley, president of Crosland’s Tennessee division, which developed Terrazzo, said the event “offers Terrazzo the opportunity to sell a significant number of condominium homes and instantly build the growing community at Terrazzo — all in a single day.”

Since sales began this spring, 13 Terrazzo units have sold.

Minimum offering bids will range between 40 percent and 50 percent of list price . . .

' . . . the event is designed “to offer buyers the opportunity to establish the purchase prices for these selected residencies.”

In a market where there is virtually nothing to hang your hat on with respect to "Basis of Value", your choices are:

to hold'm and wait for a better day . . .

Fold'm . . . Throw in the towel and file for bankruptcy or step aside for foreclosure

or get creative to find the price that'll actually get the job done.

This is not an issue that faces only high end condo buildings in Nashville, TN.

We have several market slices in which ALL of the available inventory of available homes are priced above what the Buyers are even willing to entertain . . .

And all the Sellers are sitting on the market at those prices because to them "It's not fair that I paid $400,000 for this house 3 years ago, and the Buyers keep offering $360,000. Don't they understand?"

Hello Sellers!

It's not the Buyers who are failing to understand, it's YOU!

There's no level of fancy incentives or schmancy staging (although Staging helps) or marketing or secret voodoo that will overcome pricing objections in a market that has no established basis of value.

Several months ago, I called such a market a "Zero Basis" market ... meaning that there have not been enough sales to justify ANY price. The only thing we know in such markets is that the Buyer's opinion of value is significantly lower than the average Seller's opinion.

What's the magic number?

This move by Terrazzo is an effort not only to reduce their inventory and add some liquidity to their coffers but also to find the new value basis for future sales.

My rants months ago were a pleading for Sellers to "Get" this concept.

Terrazzo understands that they've gotta set the bar pretty low (40-50% of current pricing) to generate enough attention to get some real action.

They are already getting some REAL action ... I heard about this auction through my REALTOR network a long time before the story went to print.

Whether it's a true auction or not . . .

a "zero basis market" calls for drastic action . . .something that will cause an "auction effect"

It's the sellers who are ready, willing and able to plunge their prices 25-50% who will provide the "buyers the opportunity to establish the Purchase Price".

The risk is high . . . What if you drop the price 25% and nothing happens?

You will have learned something . . .

You can't create Buyer motivation . . .

You can only FIND MOTIVATED BUYERS!

and they are crafty little fellas who know how to hide in an inventory laden market . . .

The Terrazzo is banking on their strategy to bring the Buyers out of the woodwork and woo them into fessing up to their REAL opinions of value.

Like it or not . . . This is what needs to happen right now to move some of this inventory.

I'm just sayin'

Best,

The evolution of the database

Barry Owen (Keller Williams Realty) — Wed, 28 Oct 2009 06:24:35 -0500

Did cave man write all the people he knew on the wall of the cave?

Then stone tablets . . .

Papyrus . . .

Paper . . .

Index cards . . .

Computers with spreadsheets . . .

CMS - Conatact Management Software . . .

Now, Social Networking sites - Facebook, Linkedin, Twitter etc

and now it seems to be melding into a hodgepodge of most of the above - excluding the cave wall, stone tablets, and papyrus.

Efficiencies have been changing over time.

"The Why of having a database" hasn't changed in all of this time - To create a "book of business" for your business. The database is where the value of your business lies.

The database appears to be not much more than an amalgamation of names and contact information, but what it really is is a shorthand version of all of the relationships in your personal and professional worlds.

The challenge throughout time for most business people is the organization of all of these people they know.

The truth is, the database and organization and utility thereof is a way of expanding your personal "Span of Influence" . . . Because it offers you a way to systematically communicate with all those folks who contribute or receive VALUE to/from YOU.

Of all of the iterations of the database, I am intrigued by the simplist form . . . Just moving about your personal sphere of influence on a regular basis results in the "touching" of the people of the database.

In large part, Facebook, Linkedin, Twitter check this box for many folks . . . whereas as recently as 12 months ago, the conventional wisdom of communicating by direct snail mail and direct email was the "way".

Now, we are learning from those Generation Y "kids" who are ultra connected to each other because they have electronic devices of every type graphed onto their bodies at all times and live in a world of incessant communication through texting and gaming . . . Electronic interaction.

The exhasperating part of this change for all of us "Old Farts" is that these young Bucks seem to be literally ROCKIN' with their businesses.

How do they keep in touch with everyone without any apparent organization or system?

The answer (I think) is that they are ALWAYS connected . . . Hmmm . . . I'm not sure I buy that as a long term strategy for success because I am still relatively attached to the concept that we need periods of FOCUS to be most effective.

So . . .

My Database is morphing into a different thing than it was just months ago . . .

It has become an assemblage of all of the people I have connections with in Gmail, Plaxo, Facebook, Linkedin, and Twitter . . . I now see "categorization" of all of these folks as being essential . . . so that I can systematize my communication with the folks who are "most important" to my personal and business relationships.

My Inner Circle of @ 275 folks will still get my intentional 33 touch (Managed with Task Lists on Gmail).

My targetted geographic Sphere will get the 12 Direct by Post . . .

Everyone else is in this swirling cacophony of social networks.

Next week, it'll probably all change again :-)

I'm just sayin'

Best,

Don't allow Halloween to scare your business into hibernation . . .

Barry Owen (Keller Williams Realty) — Tue, 27 Oct 2009 06:22:40 -0500

As we approach the end of the first third of the last third of 2009 officially marked by Halloween, BEWARE!

Many folks begin conjuring up many reasons to take their "eye off the ball" of their business thereby putting it to sleep for a long, winter nap.

This lack of activity is especially easy to justify this year.

After all, it HAS been a very challenging year, and I know everyone is TIRED, TIRED, TIRED.

"Seasonal depression" offers a good solid reason (The best antidote for that is to get out there and stay busy)

Thanksgiving, Christmas, and New Years are all just around the corner, and these all provide myriad distractive opportunities . . .

I call this "REALTOR Holiday" because independent contractors seem to be the WORST at shutting down their businesses in the "off season".

This is lunacy for anyone who intends to make a career out of this business because it stop the train, the momentum . . . and your financial obligations actually INCREASE during these 2 months.

I have children and "get" the real truth that they will be out of school for over 2 weeks in December and January.

I also understand that there will be many parties and details to attend to . . . Carving pumpkins, decorating the house THREE times (Halloween, Thanksgiving, Christmas), Celebrating Thanksgiving and Christmas and all of the travel to visit with friends and family that may ensue during this time.

I ain't no Scrooge . . . I know because I live in the same world that you do.

so . . .

There's ONE thing you are NOT off the hook with . . . LEAD GENERATION!

No matter how busy or distracted you are with the holiday activities, you MUST continue with your goal to have 15 conversations EVERY day (5 days each week) about real estate.

Doesn't matter to me who these people are . . . as long as at the end of the conversation, they are more aware of how YOU can best serve them, their friends, family, and work associates in your business capacity.

The holidays are THE NUMBER ONE opportunity for the year to build your database and initiate communication with every person in it . . . after which, you simply must continue to communicate with these folks in a systematic way throughout 2010.

So . . .

no excuses . . .

While the other bears are sleeping, you'll be raking in the relationships (Because ALL relationships are available to the folks who stay in touch) . . .

and when Spring springs and the others are working feverishly attempting to awaken their businesses and whining and complaining about the mountain of debt they now have after 2-3 months of excessive spending and nominal income, you'll be chugging along completing deals right and left.

Business really IS simpler than most folks make it . . .

Gary Keller put it into a VERY short "list"

Know your BIG WHY!

LEADS, LISTINGS, & LEVERAGE

Lead Generate EVERY day - Set Appointments, get referrals, & Build relationships that lead to business

Build a database.

Feed the database every day

Communicate with the people in that database in a systematic way.

Service all leads that come.

Lead with REVENUE! You'll "win" the financial part by keeping costs low.

and Mo adds:

"BE NICE!"

I'm Just sayin'

Best,

Your time deadline might not be your friend in a negotiation.

Barry Owen (Keller Williams Realty) — Mon, 26 Oct 2009 06:38:24 -0500

When you make an offer on something - ANYTHING, I understand your desire to KNOW an answer ASAP.

After all, you want it or you would not have gone to the trouble to make the offer.

Instant gratification seems to be an often expected result these days.

So we have this little "instrument" we call the "Time Dead-line", and it goes something like this:

"Here's my offer ... RESPOND to this offer no later than 3:00 tomorrow, OR ELSE!"

My first question is:

What's the "OR ELSE"?

Are you going to send Guido over to break my knees if I don't respond in time?

Will you scream and yell at me and call me bad names and question my professionalism?

Will you rant and rave and tell me I'm not following the rules?

Are you gonna "Tell on" me? (To the Manager - or Mommy)

Here's my take on this,

Time deadlines have their place as what I would call "creating inherent Urgency".

They often do what they are supposed to by adding a measure of urgency that might not otherwise be present.

The down side is that some folks don't RESPOND to tight time deadlines . . .

They REACT!

Do you really want to rush through a negotiation fueled by a series of reactions?

What will you really have at the end other than a bundle of nerves on both sides of the negotiation?

Some folks get REALLY ticked off when the offer they get isn't what they're looking for and to add insult to injury, there's this time deadline gun pointed at them . . .

They come out of the corner FIGHTING!

or they refuse to respond at ALL.

Think carefully before you impose your time-line on other people (unless you really DO have an emergency).

In case you haven't figured this out yet, other folks aren't particularly tethered to YOUR schedule.

I've figured out there's this interesting breed of Buyers out there I call "One hit wonders".

They shoot a LOW offer with a 6 hour deadline for response . . . If they don't get what they want, they RUN!

Hmmm . . . Go ahead and send Guido . . . I think I'm going to take the time I need to respond intelligently.

I'm just sayin'

Best,

Delusions of grandeur are the bane of "Motivated" Sellers

Barry Owen (Keller Williams Realty) — Fri, 23 Oct 2009 07:25:34 -0500

There's a Swine flu of sorts hitting "Motivated" Property owners these days.

My suspicion is that this particular strain is as dangerous to the successful completion of a sale as H1N1 is to an immunity deficient child.

When the entire market is over-priced, the ONLY way to win is with price . . . PERIOD!

A bit of research yesterday on Lots available in a section of my market shows @ 150 MONTHS of inventory.

HOLY SHIMOLI!

What's that . . . about 13 YEARS worth of inventory at todays' rate of sales?

So . . . not surprisingly, many of these properties are owned by banks and are listed on the market at "fair Market Value."

When questioned as to how they determined this "Fair Market value", the asset managers have replied that they have "Recent appraisals" that support these prices.

So I go back to my computer to see how this could be.

Ah Yes!

300 properties available - 3 Pendings - 21 closed in the past 12 months . . . The closed ones "support" the value.

This is delusional thinking if I've ever seen it.

Here's what wikipedia says about Delusions of grandeur.

"Megalomania denotes an obsession with having and/or obtaining, grandiosity and extravagance (especially in the form of great fame and popularity, material wealth, social influence or political power, or more than one or even all of the aforesaid). It may be a symptom of manic or paranoid disorders.^{[citation needed]} However it is not considered a distinct mental disorder of itself according to the Diagnostic and Statistical Manual of Mental Disorders.

Delusions of grandeur, commonly seen in psychosis, may be seen as distinct from megalomania: a megalomaniac's overwhelming and excessive preoccupation with his or her own importance, though it may be considered pathological, is not necessarily delusional. A delusion of grandeur, if it is a true delusion, must meet the psychiatric criteria for delusion."

It's a wee stretch, but their motivation to recoup their initial investment is pure denial.

It simply makes no rational sense whatsoever to imagine that in this sea of available properties, theirs will magically rise to the top of the 150 choice heap for Buyers.

Just had the same conversation with a Seller who was very adamant about what he NEEDS for his property,and that he not accept a penny less . . . and what he NEEDS is @ 8% more than the market has demonstrated a willingness to pay.

hmmm . . .

Guess what folks!

(and shame on you banks who don't "get" this - YOU should know better)

If you want it SOLD, you don't get to put on your blinders and/or hermetically seal yourself in your own little hallucinized fantasy world in which you can create your own market just because of what you think you NEED.

You cannot ignore the reality.

You have 2 choices . . . Find the price point that will actually get the attention of the Buyers . . . or hold on to your property and wait for better weather,

A little tough love this morning, eh?

I'm just sayin'

Best,

One score begets another & another & another - a few lessons from watching 5th grade girls soccer

Barry Owen (Keller Williams Realty) — Thu, 22 Oct 2009 06:33:51 -0500

Our daughters (8 & 10) play soccer, and they play well.

Both have lots of talent and speed and work VERY hard on the field - The right ingredients for success.

This Fall we had what we thought was great misfortune - The teams they had played with for 3+ years disbanded.

We have learned that change is good :-)

Both of our "Soccer team orphans" were adopted into teams that had been together for years - coached by the same coach.

The players on these teams were slightly more "evolved" WRT soccer . . . they knew the value of TEAMWORK.

We learned that consistency in building a team has great value.

These teams understand the importance of their assigned positions.

The play has metamorphosized from a pack of girls in a huddle chasing the ball around the field to an even distribution of players on the field PASSING the ball . . . TALKING to each other . . . and SCORING.

We have learned that communication is essential.

These teams LOVE to SCORE . . . and therefore they have won every game.

Throughout the season, their goal has been to work as a team to position EVERY player on the team to score . . . the positions rotate continually, and whoever the Forwards are consciously play selflessly to "feed" the ball to the player designated to score . . . no "Ball Hogs"

We have learned that no-one succeeds alone . . . Success through others.

When a team member scores a goal, there is raucous celebration.

Every "First" seemed to lead to a "second" . . .

We learned that Success begets more success.

Every so often, a player on the field suffers an injury.

Doesn't matter which team the injured team is on, all the players cease play immediately (without being told to do so) and those closest to the injured player run to assist and assess and care for her while the others "take a knee"

We have learned the value of Leadership and good sportsmanship.

Because these teams have learned to work so well together, they have become formidable opponents and have won every game (sometimes with almost embarrassing margins). These girls win with grace and honor their opponents.

We have learned to respect others on the field.

I could go on and on and on . . .

My true hope is that these players never forget the lessons they have learned on the soccer field.

and that the silly adults have learned from watching them learn.

Many of the priniciples above are "Secrets of Success" for us adults.

We knew these when we played on sports teams . . .

How many have we forgotten through our years of experience?

If you don't have children, I recommend finding the athletic fields near your home and watching a few games of 8-12 year olds . . . Seems to me, those are the ages when it all seems to "click"

There's a LOT of learning going on - ON and OFF the field of play.

I'm just sayin'

Best,

Becoming THE local Expert may be as easy as adopting a daily factoid.

Barry Owen (Keller Williams Realty) — Wed, 21 Oct 2009 07:17:16 -0500

Every so often, I hear someone toss out the word "factoid"

Usually, it emerges when there's a group of folks talking and someone in the group throws a random statistic that seems to have no validity whatsoever and when asked for the proof, the person responds that it's "Just something I heard (read) somewhere, but I don't remember where".

Wikipedia - My favorite on-line encyclopedia says:

"A factoid is a questionable or spurious—unverified, incorrect, or fabricated—statement formed and asserted as a fact, but with no veracity. The word appears in the Oxford English Dictionary as "something which becomes accepted as fact, although it may not be true."^[1] However, the word can sometimes mean, instead, an insignificant but true piece of information. In either formulation, factoids are potentially factual, just not self-evidently so.

Factoids may give rise to, or arise from, common misconceptions and urban legends."

I think it's safe to say that a factoid is a kind of "Mini-myth"

so . . .

Let's just imagine that you really DO do your daily 3 hours of Lead Generation and that you really DO make contact (have conversations) with a MINIMUM of 15 people during that 3 hours for the purpose of generating leads and building relationships that will lead to future business for you . . . Of course, I know this needn't be said because you are the quintessential professional :-)

The oft asked question is:

"What do I talk about with all those people?"

"I find it difficult to randomly call people I know out of the blue without a real reason."

"I don't want to sound "salesy" or pester these people."

"Won't they get irritated by me calling them all the time asking for them to send me business?"

OK!

Get those limiting beliefs out of your brain and start thinking FACTOIDS.

Once you train yourself to this line of thinking, you'll never run out of engaging things to talk about . . .

and next thing you know, all your Sphere of Influence will be EXCITED to hear from you because they'll know that you ALWAYS have something interesting on your mind . . . something of VALUE to them.

Every time you hear a random "Fact" or Myth relating to Real Estate or the Economy or the community, log it as a potential conversation . . . Then research it to determine validity (truth) or BUST it as not valid (untrue).

Now you're armed for some real, juicy dialog.

"Hey! Did you know that the average equity of Homeowners in the US climbed 1.2 percent last month resulting in an aggregate INCREASE of equity of @ TWO TRILLION DOLLARS?"

(I picked this factoid up from the Keller Williams Realty "This month in Real Estate" video)

The first reaction will be one of disbelief . . . and some sort of challenge for you to prove it.

The proof in this one is the video.

It's a pretty easy shift to offer to email a link to the source and to know it well enough for a short chat.

At the end of the call, just remember to remind the (now very impressed) person that you ARE the local real estate professional and that you would be HONORED to serve the real estate needs of them and ALL of their Friends, Family, and work associates.

One factoid can literally create hundreds of great conversations.

Be the mini-myth buster (or validator) MASTER in your community, and you'll become the legend you already are in your own mind.

I'm just sayin'

Best,

It really IS all about the database . . .

Barry Owen (Keller Williams Realty) — Tue, 20 Oct 2009 06:39:07 -0500

We've just brought in a few new associates who have Super-Star potential.

I honestly believe that EVERY person has Super Star potential in whatever they do . . .

as long as they understand that business is not a solo adventure.

You gotta build a strong TEAM (Together Everyone Achieves More) to get to the top.

In this economic environment, your ability to build a strong TEAM while likely define your ability to survive.

Building a team begins with building a database.

Each new agent I coach is sticking a toe in the water with a measure of trepidation aware of all of the unknowns. Sure, there's a daunting mountain of stuff to learn when beginning a career in Real Estate (or any other business).

There's all the "mechanical" processes . . . Learning how to work with clients, the paperwork, the rules and laws, the local customs, the language . . . and the million (or so) nuances that go with all of that.

Just when you think you've got it licked, something else pops you in the head . . .

My advice to these folks is to allow some messiness . . . Live dangerously . . . Step into the unknown with reckless abandon by focusing 100% FIRST on building a strong database and quit worrying about the details.

Until there are leads, there will be no income . . .

The worst thing that could happen is that you could slip up and catch a client not knowing what to do with them.

AAACK!

So the first lesson in building a team is to find some people who "have your back" . . . Develop relationships with 4 or 5 people who are already doing what you want to do and doing it well and gain their permission to lean on them for advice and support when you catch a client.

This can be accomplished in a single pass through your office introducing yourself to everyone you see . . . and attending meetings and training sessions making a point of meeting EVERYONE with whom you cross paths. 4 or 5 people will connect with you, and you'll be on your way.

The Database . . .

If you don't have one, what do you use for email?

Odds are good there is no need for you to spend money on a fancy Contact Management software. the purpose of Building a database is to capture the contact information of EVERYONE you know and put it in a form that will be useful for "leveraging" communicating with all those people in a systematic way.

So . . .

Whatever the platform, just be sure that it is searchable so you can find someones info when you need it.

Be certain that it has the ability for you to organize people into "categories" or "Groups" so you can mass communicate specific targeted messages when you wish.

It's best if it is "infinitely accessible" . . . Meaning On-Line so you can get it from any computer on the planet.

I LOVE Gmail as a good start.

SO many people are using gmail as an email provider and haven't the foggiest notion that it has (FREE) a great little Database Manager built in. Just click the "Contacts" link on the left column and begin playing in there.

Add everyone you know . . . one at a time . . . and make contact with each one as you add them. With each contact, let them know that you are creating your database and would like to up-date their information . . . and let them know that you are in the business of helping folks Buy and/or sell homes :-)

Gmail lets you "cheat" because if you have communicated with them previously, you can add them to your contacts with just a few clicks.

You can create groups.

You can mass email messages.

Use the calendar to track your appointments . . .

and use "Tasks" on your calendar to schedule follow-up calls.

Some of us are "more evolved technologically" than others and may scoff at this blog post because their "Crackberries" are already linked to their high powered database management systems . . . But there's a lesson here for YOU, too!

Doesn't matter who you are, the real point is that if you want to be all that you can be in ANY business, it all begins with your database . . . PERIOD!

IQ or talent are not relevant . . . It's who you know and who knows you and how effectively you are able to communicate with them (ie the strength and utility of your database) that separates the wheat from the chafe.

I'm just sayin'

Best,

-
Barry Owen
Principal Real Estate Broker
Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215 - Green Hills

Call me: 615-568-2123
Text me: http://www.mycricket.com/sendtextmessage/ 6155682123
email me: barryowen@kw.com
Visit The Owen Group http://www.theowengroup.net
http://www.owengroupnashvillehomes.com
Barry Owen's Internet Portal to all blogsites, websites, and social networks
http://tnrealestatetribalhub.wordpress.com/2009/06/02/barry-owens-web-portal/

Simply & BOLDLY Living the FourFold Way in Open Space!

Quintessentially connected to the real estate industry to offer the ultimate experience for Home Buyers and Sellers in Middle Tennessee . . . Inquire within!

Creating your future one promise at a time

Barry Owen (Keller Williams Realty) — Fri, 16 Oct 2009 07:46:55 -0500

First thing I do each morning (while the coffee brews) is listen to @ 10 minute affirmation audios from Lou Tice with the Pacific Institute as a part of the Investment in Excellence A course I recently completed.

Every so often, something Lou says REALLY strikes a chord.

"We build the future on our promises."

This raises the ante in a BIG way when you consider the ramifications.

A promise is a CONTRACT - Here's Wikipedia's definition - with another person.

Those of us who work with contracts understand the gravity of a contract. It ain't a contract unless the terms are spelled out because both parties want to be CLEAR on what they are promising and what is being promised to them so they can know what to expect in the future.

So . . .

Any promise should probably be specific, measurable, time-bound . . . hmmm . . . sounds like a goal.

Anytime you set an appointment with someone, you have made a promise to them (and yourself) to be present at a certain place at a certain time prepared for a specific action (presentation) and committed for a period of time.

This promise is a contract that creates the future for you AND the person to whom you made the promise.

If you're late, you're breaching your contract.

Cancel at last minute = Breach of contract

Allow interruptions (Cell phone use) during the meeting = Breach of contract

Show up unprepared = Breach of contract

Any time there's a breach of contract in the promise realm, there's destruction of TRUST.

If you break your promises to me, I wonder about your integrity.

Let's wander inside your OWN head.

What promises do you make to yourself?

How's your "Self-Integrity"?

Do you TRUST yourself?

Every significant change begins on the Inside and works its way out.

Think about your promises to yourself - Your goals . . .

When you think of them as CONTRACTS with yourself, are you suddenly much more careful with what you promise?

You've gotta start fulfilling the promises you make to yourself and build your self-integrity (trust) before you can authentically put yourself out there with other people.

Just remember that every time you make a promise to yourself or ANYONE, you are building/creating the future.

WHEW!

Now THERE'S an extra dose of responsibility for ya.

I'm just sayin'

Best,

How much spare energy do you have for problems?

Barry Owen (Keller Williams Realty) — Thu, 15 Oct 2009 06:22:56 -0500

OK!

Problems are problems . . . and they are all around us, right?

Issues never show up at the right time.

Often, the problems you dread the most show up and stop your train.

Why is this?

Some say that what you think expands . . .

Even if you're thinking of something you DON'T want to happen, the sheer nature of the fact that you are giving it that much mental energy draws you towards that thing you don't want.

So maybe the first step to avoiding problems is to stop trying so hard to avoid them . . .

Use all that good energy CREATING - CONSTRUCTING a "healthy" path towards your goals.

This is sometimes easier said than done because the blasted truth is that we're all here together and the more people involved in a project, the higher likelihood that one of the silly humans is going find or create problems.

. . . and then the whole shebang shifts into a "problem avoidance" mode.

So let's deal with the reality that problems ARE going to show up.

What then?

Do you let the problem derail you completely and control your very existence until it is solved or you find yourself in isolation because the people around you are tired of hearing your whining?

I have a very low threshold of tolerance for whining and have been quoted: "Quit Whining and go out there and DO something PRODUCTIVE!"

In real estate transactions, there are many opportunities for problems to arise. The size and complexity of any problem is always in direct proportion to the amount of energy the parties to the problem will give it.

Life's too short!

I know a few folks who actually have made a career of creating problems for themselves. These are very intelligent people whose careers are stagnant because they are mired in a never ending flow of problems.

Good builders know not to build a house on a fresh water spring because that will create perpetual water problems in the basement/foundation.

Don't build your life and career on top of a well of problems.

Create

Innovate

Solve

and let those around you know to take their whining elsewhere . . .and move on from the problem.

and mostly just be nice.

I'm just sayin'

Best,

Pay for the service you receive . . .

Barry Owen (Keller Williams Realty) — Wed, 14 Oct 2009 20:30:40 -0500

When I get great service, I never hesitate to pay a premium . . . I tip 20% with glee.

and I rave about the experience and refer everyone I know to get the same great experience.

I feel proud to be able to spread the word of a great thing.

When the service is something less than great, I pay what I owe without a fight . . .and tip less.

I don't refer.

When the service is below standard (poor), I let the provider know I am not satisfied and give them the opportunity to make amends. After all, EVERYONE has a bad day once in a while.

I pay the bill . . . and still tip - marginally.

If they make appropriate amends and acknowledge responsibility, I let it go and chalk it up as a fluke.

When the service is poor, and the provider blames others without apology (Refuses responsibility) . . . or ignores my complaint . . . I pay the bill . . . no tip . . . and I tell everyone I know about my bad experience.

Guess what?

I'm your typical client . . . or not!

I think I'm nicer than most because in all cases I pay the bill.

If you're getting pricing (commission) objections, look first at your level of service and how you respond when you're caught delivering less than your best?

Are you skirting the taking of responsibility when things go awry?

How damaging will it be if you don't make satisfactory amends.

How many negative, viral stories running around out there can your business afford?

Is it worth a few bucks today to avoid a few years of negative story-telling about your business?

Will your pride keep you from "buying the peace" by forgiving some commission to make amends?

Just remember . . . If you disserve me, I pay my bill . . .

and talk about the experience to everyone I know for YEARS.

Be Nice!

I'm just sayin'

Best,

Dear my beloved Seller Client

Barry Owen (Keller Williams Realty) — Tue, 13 Oct 2009 06:55:45 -0500

As we approach the anniversary of my listing of your home (That's right, We've been together for almost a YEAR now) I feel the need to write you a letter from my heart.

It saddens me to say that I must now admit that I have not been completely honest with you these past 12 months because I SO much wanted you to hit your financial goals with respect to this sale that I have been enabling you by not telling the complete truth.

The truth is that the market is NOT going to bring you a Buyer at the price you want.

I know this hurts, and I know that you may hate me for saying this, but I think we have been together long enough for me to be candid with you.

It is now time for you to make a tough decision . . . Whether or not to reduce the listing price of your house significantly.

The market has shown us that these small, incremental price reductions every 2-3 weeks simply aren't doing anything for us . . .

We are "chasing the market" . . .DOWN!

If you REALLY want to move on from this house to the house you've had your eye on for the pasts 6 months (watching it's price creep down also), it is now time to decide to take swift and resolute action.

We must Reduce your house to 10% BELOW the average listed homes in your neighborhood . . .

If we do this, we may be pleasantly surprised with a sudden surge of Buyer activity that very well could generate multiple offers resulting in a higher price.

Don't worry!

I'm equipped to handle the frenzy that will ensue.

I know this whole thing sounds a bit draconian, and please don't take this personally . . .

I am not doing this because want to get away from you . . .

I am doing this because I LOVE you so much that I want to set you free.

I know that once we close we close on this sale, you will have a great tale to tell all of your friends, family, and work associates about how you and I weathered the great real estate storm of 2009 and prevailed . . . and that should they EVER have a real estate of ANY sort, they MUST give YOUR REALTOR (That's me) a call :-)

So . . . The tough decision is to do this significant price reduction NOW ... or continue as we have been doing the past 12 months and get the same results . . . potentially staying on the market for another year . . . and ultimately selling at a LOWER price.

Please know that I am completely dedicated to getting you into that great new home you have picked out.

We can get you there . . . beginning with this price reduction.

What say you?

Cheers!

I'm just sayin'

Best,

--
Barry Owen
Principal Real Estate Broker
Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215 - Green Hills

Call me: 615-568-2123
Text me: http://www.mycricket.com/sendtextmessage/ 6155682123
email me: barryowen@kw.com
Visit The Owen Group http://www.theowengroup.net
http://www.owengroupnashvillehomes.com
Barry Owen's Internet Portal to all blogsites, websites, and social networks
http://tnrealestatetribalhub.wordpress.com/2009/06/02/barry-owens-web-portal/

Simply & BOLDLY Living the FourFold Way in Open Space!

Quintessentially connected to the real estate industry to offer the ultimate experience for Home Buyers and Sellers in Middle Tennessee . . . Inquire within!

"Roll-over" Goals will kill your mojo!

Barry Owen (Keller Williams Realty) — Mon, 12 Oct 2009 19:59:46 -0500

How are ya with goal setting?

Do you set'm annually?

Monthly?

Weekly?

Daily?

If you don't hit your goal in the period, do you "roll them over"?

Unlike those precious "Roll-Over Minutes" with the cell phone providers, Roll-over goals can kill your motivation.

Here's how . . .

Let's just say that your goal is to make genuine contact with 15 people every day to generate Leads, appointments or build relationships that lead to business in the future.

Today, you only make 7 . . .

8 short of the goal.

Tomorrow rolls around . . . Will you have to make 15 + 8 contacts = 23?

Is that a daunting number?

Does your motivation wane as you dread this catch up drill?

As you're working along, a "Come List Me" call comes in . . .

So you go list the house and only make 8 new contacts that day . . .

15 short of your goal of 23 . . .

OUCH!

Next morning, you wake up with the formidable task of having to catch up by making 15 + 15 = 30

YIKES!

The demons in your head make you a believer that your goals are too high . . . that you're not good enough.

Surely, you will fail.

Panic sets in.

The drunk monkey perched on your shoulder is laughing and taunting you.

Your confidence vaporizes . . .

and that telephone receiver gains weight to @ 250 pounds . . .

nearly impossible to lift.

A deep depression sets in as you ponder the immensity of catching up to your goal.

DON'T DO THIS!

Do NOT "roll over" goals - It's a REAL buzz kill.

If your goal is 15 contacts in a day, make 15 contacts before you sleep . . . PERIOD!

or give up on the goal . . . but not without substantial penalty.

The goal re-sets every morning . . . Every day is a new and exciting day with a fresh goal.

Goals are silly if they take the form of quicksand.

I'm just sayin'

Best,

Some things great Leaders do . . .

Barry Owen (Keller Williams Realty) — Sat, 10 Oct 2009 09:02:35 -0500

I believe EVERYONE is a Leader . . . YOU included.

Doesn't matter what your station in life is, there is someone looking up to you.

You might not even be aware of this, just know that someone is admiring you and watching you and using your example to lead them to some of the choices they make in their own lives.

So . . . You're already famous whether you want to be or not.

The first key to being a great leader is acknowledging the truth that you ARE one.

OWN THAT LEADER WITHIN YOU . . .

There's a mindset that goes with Leadership.

Leaders feel a certain responsibility to behave responsibly - ALWAYS . . . Even when they are not knowingly in the presence of those they lead.

Leaders take time to "hang" with people and ask simple, provocative questions like:

"Hey! How are things going for you now?

How Is our organization doing?

Are we meeting your expectations- Any concerns?

What recommendations do you have or have you heard from other folks?"

When a great leader picks up on a specific, significant, and reasonable need or want, he swings into action IMMEDIATELY.

Great Leaders are very in tune with the Culture of their organizations. They know that if they smell a rat, there probably IS a rat, and they don't sleep til the varmint is handled. They know that while they would like EVERYONE to love and respect them, not everyone will . . . That not everyone is a good "fit" for the culture of the organization even if that person is a technical MASTER.

Cultural issues can kill an organization's goals faster than ANYTHING.

A highly skilled group of people won't succeed without establishment of a group culture.

One bad apple spoils the bushel.

Great Leaders are AVAILABLE and will give focused attention to those seeking their guidance.

Great Leaders are good with boundaries . . . They protect their 20% time, leverage themselves with People, Systems, and Tools . . . and they know that success leaves clues, so they continually network and educate themselves on new and different ways.

Sounds like a lot of work, doesn't it?

I've heard folks say they'd not want to have that level of responsibility and would not choose to a leader.

Guess what?

You don't get to choose . . .

If you're living and breathing, you're a LEADER.

Someone is watching your every move and learning from you . . .

I'm just sayin'

Best,

The 3rd party endorsement . . . Building relationships on Steroids!

Barry Owen (Keller Williams Realty) — Fri, 09 Oct 2009 06:18:41 -0500

From the on-line Business Dictionary

third party endorsement

Definition

Solicited or unsolicited recommendation or testimonial from an entity (usually a customer or user) other than the manufacturer and seller of a product or service.

Don't you just LOVE it when someone compliments you in the presence of other people?

All bashfulness aside (you might blush), you simply GLOW when someone brags on you and your expertise or offers a glowing character reference to others unexpectedly.

It means even MORE when what they say is TRUE :-)

This kind of testimonial creates INSTANT validity for you AND for the person who delivers it.

I want to hang with and do business with people who respect me and appreciate my professionalism, don't you?

The third party endorsement is a "secret to success".

Those who do this consistently and do it well are people other people want to be around.

These are the "CONNECTORS" in society.

Get yourself in the habit of thinking intentionally about finding the GOOD in each person you know and ENDORSING them by acknowledging this "good" in the presence of others . . . what happens is that you suddenly begin knowing more people at a deeper level . . .

which means that having a relationship with you becomes more WORTHY because people just "feel good" when they are around you . . . feel validated.

You'll also notice that as you seek the good in others, your very powerful brain will begin to assimilate all of this new "data", and you will begin connecting the dots (people to other people) because you will REALLY know each person's talents and will recognize when another person is in need of those talents.

You already have this skill inside you.

All you've gotta do is flip your RAS Reticular Activating System switch to activate it.

Your RAS will become VERY efficient at sniffing out the good in others because it will quickly sort through all of the distracting noise.

VOILA!

We just graduated from just making contact with people to making GENUINE CONTACT with people.

The value of your personal "Stock" just jumped exponentially.

Now! Put this new information you have learned about these other people to good use and ENDORSE them to others (most powerful when done in the presence of others).

In doing so, you will leave behind you a trail of happy people who will learn from your "way".

The bottom line:

ALWAYS look for the GOOD (worth) in others - Focus on catching them doing the RIGHT things RIGHT

Communicate this good to others publicly.

Connect people to each other.

This is REAL Wealth Building.

I'm just sayin'

Best,

OBTW - www.linkedin.com is a great place to practice this . . . It's falls short in the "in person" category, but it is a fabulous public arena in which you can brag on other people in your life . . .I'm there every day endorsing people I know.

Every endorsement I put out there results in something good happening - a return endorsement - an appointment - a referral - an introduction to someone else - There's nothing but good here.

and it all falls under the category of "Be Nice!"

How deep is your well . . . of LEADS?

Barry Owen (Keller Williams Realty) — Thu, 08 Oct 2009 06:35:40 -0500

Setting BIG goals is fun and exciting.

Achieving them is fulfilling.

It's that middle part that's the challenge.

WHEW!

It's a LOT of work to keep pushing yourself to new levels of success especially when the environment seems to be conspiring against you.

As if you don't have enough reasons to give up on your goals within your own head, the world around you is a veritable smorgasbord of tasty distractions and detours and roadblocks over, under, or THROUGH which you'll have to push.

How far forward do you think?

Why do you have the goals you have?

Are they near term goals . . .?

just enough to sustain your current level of living . . .?

"Gotta sell 2 houses this month because I have bills to pay"

or are you thinking something along the line of a "Complete Self Makeover"?

All I know for sure is that whatever your goals are and however BIG they are, the one thing you're going to need to achieve them in ANY business is a consistent, steady, high volume of good, solid LEADS.

Most folks look a few months out based on the current level of production. We each know what it takes to get the business cranked up and how long. If you know you can go from zero leads to money in your pocket in 90 days, you can literally spend the rest of your life in 90 day increments.

Do this, and I believe you will have a "job" that's akin to a rodent on one of those wheels . . .

running - running - running but not getting anywhere.

Doesn't really matter what your long range dreams are if you're running on a treadmill.

While coaching folks this week, I realized that most folks are concerned about "Having a good 4th quarter of 2009."

My question is: What's the 1st quarter of 2010 going to look like?

The response is usually uncomfortable silence.

If you're worried about the next 3 months, I say you're on a treadmill.

NOW is the time to be strategizing for filling your pipeline of leads for the NEXT quarter as you service the leads already in your pipeline for the current quarter.

Commit to yourself to keep digging a deeper well so that EVERY time you go there for leads, your bucket returns FULL.

There's only one sure fire way to do this:

- Build a Database

- Feed it EVERY DAY with a solid 3 hour habit of Lead Generation (15 CONTACTS EVERY DAY MINIMUM)

- Communicate with everyone in the database in a systematic way

- Service all the leads that you convert WELL

and remember . . .

ALL relationships are available ...

Don't EVER miss an opportunity to ask for an appointment, a referral, and or to strengthen a relationship that will lead to future business for you.

Get this, and you'll shift yourself from "goal setting" to "Goal ACHIEVING" with finesse.

I'm just sayin'

Best,

Enjoy the Ride

Barry Owen (Keller Williams Realty) — Wed, 07 Oct 2009 20:34:04 -0500

I got a link to a very cool little video a few days ago

Check it out http://www.lshs64.com/enjoytheride.html

It's worth 3 minutes of your time.

The one thing I learn over and over and over again is that if you don't like what's happening, don't worry!

Whether it's good or bad, it'll change.

Quit taking life so seriously!

REALLY!

"It ain't nothin 'but a THANG!"

Those sage words were spoken often in the Hellish Sweat Shop I worked in throughout High School. We were a band of young guys who manned the Textbook Distribution Warehouse for all of the schools in the State of Tennessee in the late 70s (Tennessee Book Company - Later Evolved into Ingram Book).

We were in a relatively small metal building with no air conditioning other than a few exhaust fans.

The job was only during the summer months . . . We would receive pallets of books from a steady stream of semis coming from the publishers . . . Take them to their assigned spots with a fork lift and then pull heavy metal flat-bed carts all day "pulling orders" ... for schools . . . and we would load these assembled orders into whatever vehicle the schools would send to get'm . . . Often it would mean loading one 50 pound box at a time through the Fire Escape of a bus.

The heat was hardly bearable - Breaks were rare - and the pay was minimum wage.

Sounds like one of those "Grandpa Stories" doesn't it?

Didn't EVERYONE's Grandparents have to walk to school BAREFOOT 3 miles in the snow up hill BOTH ways?

The cool thing about this job was that it could have been miserable, but it WASN'T.

The culture in that place was set by the words "It Ain't nothin' But a THANG!"

followed by "No one will care anyhow 10 years from now"

There was lots of singing - Tasteless jokes - and ceaseless "ribbing" . . . We especially liked taunting the office staff when they dared entering our "jungle" . . . We were a veritable aboriginal tribe.

We had our own language.

We also had plenty of reasons to be grouchy and there were times when tempers would flare . . . until the golden words were spoken: "It ain't nothin' but a THANG!"

That was sure to end any dispute.

I grew to love those guys and that job . . .

and now (30 years later), I am SO appreciative of the life-long lesson I learned there other than the feeling of satisfaction of accomplishment and a job well done.

I learned the art of living gracefully and treating folks with respect just as I learned that "It ain't Nothin'but a THANG!"

So . . .

Next time you think life isn't fair and/or you get all riled up with the idiocy that can emerge in a deal, put it all in proper perspective.

It ain't nothin' but a THANG and no-one willcare 10 years from now anyhow!"

I SWARE!

I'm just sayin'

Best,

To what extent does your disability thwart your success?

Barry Owen (Keller Williams Realty) — Tue, 06 Oct 2009 06:42:05 -0500

The ADA Americans with Disabilities Act was enacted and is enforced by the Department of Justice in @ 1990. This is an act which sets up some rules and guidelines to protect the interests of people with disabilities which potentially prevent them from being able to fully participate in the American way of life.

The above are my words . . . My interpretation.

The Act requires there to be "aids" for people with disabilities and is most visible in the form of Handicap Parking spaces, Wheel Chair accessibility ramps and wider doors, electric buggies at the supermarket etc.

These aids provide a way for disabled folks to live a more "normal" life . . .I saw a tremendous example of the opportunity this law provides in The Great Smokey Mountain National Park at Clingman's Dome ... The highest point in that park along the Appalachian Trail . . . a Wonderful wheel chair accessible Observation tower atop the mountain- WOW!

Here's where you come in.

What's YOUR disability?

What is it that freezes you in your tracks on your quest for your goal?

Is it call reluctance?

Is it FEAR of success itself?

FEAR of rejection?

FEAR of failure?

Is it your feeling of "not yet being qualified" for THAT level of success?

What's your disability?

and

Are you waiting for the ADA to discover your disability and add it to the list of Federally regulated requirements to aid you through?

There are new stories every day of individuals overcoming HUGE debilitating disabilities . . . and finding tremendous success in spite of them.

Sure, they could use their handicap as an excuse not to live a normal life, but instead they choose to adapt and succeed.

I'm certain there are times of frustration, depression and despair for anyone and everyone trapped in a disability, but the choices are clear . . . Get over it to the extent that you physically and mentally can and move forward towards your goals . . . or die.

I know that sounds a bit draconian.

I have actually witnessed people literally murder their relationships and career just because of an unwillingness to confront their own disability.

They'd rather crash the project than acknowledge their faults and deal with them.

They're so wrapped up in their pity party, they spend most of their time commiserating with other people with similar disabilities.

They throw the baby out with the bath water.

and life passes them by . . .

Don't be one of those people!

What is it that's holding you back from achieving the level of success you are capable of achieving?

What is it that's stopping you from reaching your potential?

Why are you giving audience, so much power to a disability that is arguably very easy to overcome?

There are myriad courses, coaches, mentors, accountability partners who are just waiting in the wings to help you thrive in spite of your disability.

I challenge you to STEP OUT and seek these people and these opportunities and live your life at its FULL potential.

You owe this to no-one but yourself.

I'm just sayin'

Best,

Hey! Have you noticed? There are LOTS of houses selling recently.

Barry Owen (Keller Williams Realty) — Mon, 05 Oct 2009 06:10:11 -0500

There are houses just "flying off the shelves" in my market . . . and many with multiple offers.

What's up?

I'm not personally even CLOSE to believing that the economy is all better now.

We're a LONG way from that day.

So!

What's causing all these houses to sell?

Could it be that the pricing is beginning to get more in alignment with the "NOW" market?

Are Sellers now more willing to price their properties in the ball park of what Buyers are now willing to pay?

The best marketing any REALTOR could do for a Seller is to educate that Seller on the benefits of getting the price RIGHT!

OK!

There's still that 85-90% of the listings that are just sitting out there without much action.

These stale, old listings sit with their stale, old prices and grumble as the new, young listings pop on to the market at "ridiculous" prices and sell immediately.

When's the last time you did a Comparative Market Analysis for your area of expertise?

I just did a little experiment and picked 8 completely different neighborhoods and ran 8 CMAs for activity in each for the past 6 months.

I found an interesting trend.

- The listing price per square of the active listings was on the average @ $10 MORE than the Pending and selling price per square foot.

- The SOLD properties were selling within +/- 3% of the listed price at the time of the sale (that's right, some were selling @ 3% HIGHER than list.

What's going on with this?

Looks like the "Old" Listings are selling when they finally reduce their price into the "Selling range" of within 3% of the closed price per square foot.

Any new listing that enters the market in that range SELLS IMMEDIATELY!

Wouldn't you think the writing is on the wall?

Of course, there will be exceptions. I know of some houses that meet this p/sf "rule" that are sitting still.

I visited a few of them and have discovered they each have "issues" most of which are correctable for less money than they would have to lose in price reductions to overcome.

Things like strong colors... signs of deferred maintenance . . .

and others that have weird issues like really slopey driveways and funky yards,

In the end, it is the PRICING that is selling houses these days.

The buying public expects top shelf condition these days and won't settle for less without a DEEP pricing discount.

We are all "seasoned" enough in this new and still uncertain economic environment to know now the "realistic" price points in our respective areas of expertise ... the "Sweet Spot".

The houses that are selling are those that are the most AFFORDABLE for the buyers.

Hmmmm . . . Supply and demand drive pricing.

Listen!

Enjoy the success,

I'm just sayin'

Best,