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strategy: You Better Shoot to Kill - 05/09/12 11:50 AM
 
“Shoot to Kill or Don’t Shoot at All”
This phrase was on a t-shirt I saw the other day. While it was not clear, I don’t think this really meant anything about guns (based on the group of young people around at the time). I believe it was a mantra about focus, something too commonly missed in real estate sales and real estate service work.
In other words, if you are going to make the effort to share your message and ideas, make sure you are successful. Please note, however, this is not the same thing as shoving your words down … (2 comments)

strategy: Waiting on Credit Freeze to Thaw? You May Not Understand the Problem - 11/24/08 03:29 PM
I read many blogs by business people, mortgage brokers, Realtors and others talking about the "Credit Freeze" and how things will improve once it thaws. 
Hmmmmm...  Really?
I would submit to you that these people may not fully understand the problem. 
1. Individuals with good credit scores and a reasonable down payment can get loans for houses and cars RIGHT NOW!  Since that is true, consumer credit can't be really frozen.  It may take a bit more paperwork and time but this financing is moving for those that are credit worthy.
2. Listen VERY carefully to the national news media's discussion about the … (29 comments)

strategy: Down Cycle Likely to be Long and Slow... How are Survivors Adapting? - 11/18/08 05:21 PM
The down cycle in the economy is normal economics 101.  While many hoped the bailout would speed a recovery faster, it is becoming clear that this down cycle will be long and the upswing (which will come) is likely to be slow in its development.
This means that many companies that could survive a few months of sluggish-to-frozen sales are having to reconsider what to do now.  What adjustments are needed now to survive for 12 to 24 months of dismal markets?
Does your company even acknowledge this situation?
We are adapting quickly and finding new services to offer, particularly to … (17 comments)

strategy: What Do YOU Do Now?? Stuck Market, Fed Money Unlikely to Generate Mortgages... - 10/23/08 10:39 AM
Regarding the economy and how/when it will rebound, one of my big concerns has to do with lenders, particularly banks.  I believe, as do many economists, that even if the banks are recapitalized (to any extent) through government action they may simply hoard the money to protect against future losses. 
Now as a business, I can understand how a bank may choose to do this... particularly the many banks that will now swing back to the conservative nature they had until most recent years.
For instance, Regions Bank in Birmingham is apparently one of the banks now planning to sell equity to … (3 comments)

strategy: Major Shift in Experience Level of Birmingham Agents... What About Your City? - 10/01/08 05:55 PM
Hello All! 
The following is from a press release distributed by RealSource today from surveys about metro-Birmingham Alabama real estate agents.  Are you seeing similar things in your city or state?
Glenn
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Experienced Real Estate Agents More Proactive
Birmingham Survey Finds Shift in Experience Level of Real Estate Agents
Birmingham, AL - October 1, 2008 - Based on survey results from 2007 and 2008, experienced real estate agents and Realtors® in the metro-Birmingham market are becoming more proactive while inexperienced agent's level of activity is significantly declining.  The survey responses were collected in 2007 and 2008 from Realtors and real estate agents … (5 comments)

strategy: Scare Clients Away! Whine About the Market (and show you are not the Professional you claimed to be!) - 09/17/08 03:31 PM
I contend that while the current market is challenging and as a whole, movement on sales is slow, there are still deals closing and still people making money.  Not everyone, but they are out there.
You see, the market is slow... NOT STOPPED. 
WHY ARE PEOPLE WHINING?  There are people out there working very hard to use the current market conditions as an excuse for their own failures or lack of effort or lack of creativity.  And any agent or lender that explains to every potential client, friend, neighbor, and vendor how awful the market is and how "nothing" is moving right now is likely to … (20 comments)

strategy: My Dog Can Sell Better Than Many So-Called "Sales Professionals" - 08/19/08 04:43 PM
My intent is not to make a "oh, look how cute our dog is post" but to talk about real business lessons!
You see, our dog has much better sales, communication and relationship skills than many people I know.
First a quick background... I grew up in the big city of Bear Creek, Alabama (population 1,000 or so) and we had outside dogs.  Country Livin'!
A couple of years ago, my wife brought home a puppy from a rescue shelter. The puppy (Jimpsie Rose "Rosie") was part of a litter that was an accident at the shelter.  Anyway, having a small indoor dog was a … (13 comments)

strategy: Pricing... Is it the BEST VALUE in the neighborhood at this PRICE POINT? - 08/12/08 11:54 AM
Okay, so I've been a bit focused on the pricing of real estate property in recent posts.  Well, I've got more to consider and how you can possibly help your clients and your efforts...
THE SITUATION: New listing or sales opportunity.  Does the buyer want to really sell?  Or are they just unrealistically testing the water to see if they can get a premium price (in this market!!)?
THE TEST:  The property that will have the best chance to sell under current market conditions will be the BEST VALUE in that area/neighborhood at this PRICE POINT. 
(Notice I did not say "best price."  … (4 comments)

strategy: Business on a handshake... - 08/07/08 07:40 PM
Our businesses have an in-house business mentor. 
A retired, savy businessman that built his business from scratch and sold to a multi-national conglomerate.  He does not know all of the things our businesses do but he can read a balance sheet and business plan and tear each apart if it does not work.  He has investment properties and understands money in a way we can all dream about. 
So, here are some tips from him you might find useful, even if you already know them.  We sure did.
"Find people you can do business on a handshake.  Then do the paperwork because no … (14 comments)

strategy: "... because my house is SPECIAL!" - 08/07/08 11:13 AM
Whether as an agent, appraiser, buyer or seller, anyone that has done many residential real estate transactions has dealt with the owner that says (or feels), "I can get a higher price for my house because my house is SPECIAL!"... or some variant of the remark.
And since most buyers and sellers are not accustomed to large financial transactions from a business perspective.. and because they often do not understand money... the decisions are often more emotional than logical.
So, what can you do about this??? 
And, more importantly, can you help them?
First off, there are probably as many … (12 comments)

strategy: Your Seller Insists on Overpricing? Try This! - 07/30/08 10:54 PM
I see many posts about listing prices and overpriced houses with pricing driven by sellers.  It makes me think of the discussions we have in our office about our potential clients.  That discussion centers on Price vs Cost.  In some industries, this is a common discussion for sales folks.
Price - The Amount of Money Exchanged at a Single Point in Time. 
Cost - The Amount of Money Spent Over a Period of Time.
Let's take a simple topic first that is on everyone's mind. Gasoline.  We may know of a gas station that is 20 miles away with gasoline that is a … (46 comments)

strategy: "Mutually Qualify" Your Potential Clients... or Waste Time to Discover Issues Later? (And I'm not talking about lender pre-qualification!) - 07/21/08 11:32 PM
When I am meeting with a potential customer, vendor, or partner, one of our primary goals is to mutually qualify the arrangement.  It saves us all time and leads to a very high success rate!
What do I mean by "mutually qualify?" 
Well, so many folks are working so hard to sell themselves or their company, they forget the end goal...  Successful deals and/or successful ongoing business.
We have found that even when the market is tough, we absolutely have to do business with people that are going to do the things necessary for success.  Anything else, ends poorly with everyone … (7 comments)

strategy: Time Management: "Teaching the Pig to Sing..." - 07/07/08 09:33 PM
This is a phrase I use with our team regarding Time Management and Focus.  It comes from the country* saying....
       "It's like teaching the pig to sing... it just wastes your time and annoys the pig."
One of the skill areas I am focusing on for myself is improving time management and prioritization.  This is important to me and will help my clients and our firm.
There are so many wastes of time in every industry... and our lives.  For instance, in real estate my personal belief is that over-priced houses are such a waste of everyone's time.  Are you … (6 comments)

strategy: Are You Trying to be "Unique"... Just Like EVERYONE Else? - 07/06/08 02:12 PM
Ever notice how businesses of all types, not just real estate related, sell themselves much like high school kids?  They want to be unique... just like everyone else.
Even when honest, the messages often sent don't mean anything to the potential customer.  It's great you are customer-focused, honest, experienced, seasoned, been in the business lots of years, sold lots of houses, a leader in technology, a leader in your community, married, not married, kids, no kids, progressive, received sales awards, have a few listings, have hundreds of listings, like the beach, like to golf, like to fish, are active in local … (12 comments)

strategy: What to do with a "no".... - 07/03/08 01:39 PM
What can you do with a "no"...
Move on to the next prospect. Move on to the next property. Move on to the next research project. Find out if you made an error (so you don't repeat it). Find out if you were not communicating clearly (again, so you don't repeat it) Move on to the next day. Move on to the next email. Move on to the next phone call. Move on to the next house for a past client. Move on to learn more about a market. Be glad you've not wasted more time on a dead-end. Find out … (24 comments)