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An Analytical Self Analysis Of Our Professional Analysis

By
Services for Real Estate Pros with The Real Estate Investment Institute 1retiredsage

An Analytical Self Analysis Of Our Professional Analysis people in a fiduciary position have to do this constantly! Shortly after starting in real estate every one with a conscience will be forced to do An Analytical Self Analysis Of Our Professional Analysis! Those with no social conscience will simply calculate the potential commission and conclude that, that witch produces the biggest commission the fastest is the best alterative! Such people have no need of An Analytical Self Analysis Of Our Professional Analysis, because they have no separation between their personal and professional duties, to them it's all Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me, Me!

Not being able to ignore what I though my fiduciary duties I was forced into An Analytical Self Analysis Of Our Professional Analysis. It occurred as a result of showing homes I wouldn't live in. After asking my buyers "You'd live in this?" and having them buy any way, I had to determine my position, my responsibly, my job! I had to do An Analytical Self Analysis Of Our Professional Analysis!

I saw a light! I went in to real estate to sell investment property and in fact I sold more small investment properties than owner occupied homes. A new friend, a CCIM introduced me to the CCIM marketing group. It was love at first sight "number crunchers!" Wisdom through education! Logical decisions! Almost over night I was as addicted as I was to caffeine! Soon I could produce a 1,000 page professional analysis as fast as the grass could grow! (Remember our dial in main frame computers worked at an amassing 30 baud.) Time for An Analytical Self Analysis Of Our Professional Analysis, again.

My conclusions. My math was as good or better than the best of them. My tax law, with the aid of my CPA was as good as any. My market analysis was great. I knew what a good investment was. I could now conclusively prover there were no good investments. I was not selling anything through the CCIM Marketing Group!

I was complaining at breakfast one morning to the CCIM that brought me to the group. He didn't explain any thing, but ask me if I could clear 3 days next week, I could. He picked me up on a Tuesday afternoon we drove for several hours to a Holiday Inn I don't remember witch. After checking in we went to the bar for food and a drink. Every one seemed to know my friend and to my surprises I knew about a third of them from the CCIM group.

The next morning I went to my first meeting of Chapter One of The Farm and Land Institute of the NAR. My God what a long day of gossiping. These guys operated like the CCIM's they'd pass around a spec sheet on their listing then go to the podium, but instead of talking about the property they gossiped about their seller! The guys on the floor also talked about their clients. As if the day wasn't long enough after dinner they held a 4 hour barter session where they traded yard sale junk. In bed I did An Analytical Self Analysis Of Our Professional Analysis!

At breakfast with my friend and several others I ask if some one would drive me to the airport I'd rent a plane and fly home. I thank God no one would.

Enlightenment! An agent's job was not to find what was acceptable or desirable to him! Not to find the world's best investment! Not to find a home he'd live in! Not to put the client in the best property. Not to put the client in the best investment!

An agent's job. An agent's fiduciary duties are to solve the people problems! An agent's job. An agents duty is to put the fiduciary into the best deal available to him! An agents job. An agents duty is to is to improve the client's position to improve the clients life! Leave every one better for having used your services.

If you've read my first book, "One House At A Time..." you know that week I learned to sell a 2%.

How do you sell a 2% return in a 12% market? Simple you find a man making 1% and double his return! There is always more than one way!

A friend is having this problem as I write. See: The Risks Seem to Cloud My Real Estate as Investment Perspective

Allot of very good people need An Analytical Self Analysis Of Our Professional Analysis!

There answers may not be the same as mine, there is always more than one way. But, it's hard to go wrong when you strive to solve the people problem! Our job is to use our wisdom and experience to improve the client not to morph them in to a clone.

For the record:I spent just over a decade as a very active member (5 days a month!) of FLI and the CCIM Marketing Group (I never did get my CCIM, but that's another story.) That is why I love Active Rain! Like my friends of 25 years ago we share ideas, we share experience, we share wisdom freely! There is some thing for every one you just have to ask and sincerely seek it.

 

Posted by

Bill

William J Archambault Jr

The Real Estate Investment Institute

wja@reii.org      Cell 832-259-7078,      Houston 832-582-8415,       Las vegas 702-516-1569

     http://www.reii.org  Back Cover One House At A Time http:www//reii.orghttp://www.flippingforfunandprofit.info/ http://www.billarchambault.com   

From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.

http://www.reii.org

©William J Archambault Jr   ©The Real Estate Investment Institute   ©REII

Comments (17)

P.J. Virgilio Jr., Realtor 408-568-6578 Selling homes in the Greater San Jose area and South through San Martin, Gilroy
Keller Williams Realty Silicon Valley - Gilroy, CA
San Juan Bautista and Hollister as well!

William,

Thanks for sharing this post, quite a read.

Nov 26, 2010 05:46 AM
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

Bill: Fiduciary is a big word and probably many folks do not know how to use the dictionary.

Nov 26, 2010 07:16 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Patrick,

You're welcome!

Bill

Nov 26, 2010 07:19 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Melissa,

I use allot of of bandwidth explaining "fiduciary" to readers who should thoroughly understand. I can only feel sorry for those that don't, and sorry for their clients!

We do have friends in "Transactional states" but it seems that the best don't abuse such an indulgences!

Bill

Nov 26, 2010 07:31 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Bill there is a lot of me me me people in this business, but there are also many of us that look at our duties to our clients in the same way you do.  Hopefully there are more of us then there are of them, and improve our clients lives, in stead of just feeding off of them.

Nov 26, 2010 12:37 PM
Greg Nino
RE/MAX Compass - Houston, TX
Houston, Texas

Bill,

Interesting perspective. there have been times where I've wondered what people saw in homes they loved. But it isn't my duty to tear down their idea of what they think to be a little castle. I suppose they wouldn't like  my choices either.

Nov 26, 2010 12:57 PM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

George,

Sadly I suspect most of the Me, Me's are such by choice. But, many just don't know any better!

I pray your right about the majority.

Bill

Nov 26, 2010 01:03 PM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Greg,

I've known many of them.

Our job is to make sure they get the best of what they can.

Bill

Nov 26, 2010 01:06 PM
Jark Krysinski *PREC (Personal Real Estate Corporation)
REMAX CREST REALTY WESTSIDE - Vancouver, BC
TeamYVR Team Leader, BA,ABR,IRES,IMSD,LLB

William, thanks for sharing this article.  I agree that we have to take our personal points of views out of our profession, particualarly where clients clearly hire us to find them an investment or home according to their specs, not ours.  Have a great weekend.  Jark.

Nov 26, 2010 01:45 PM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Thanks Jark!

I've never master removing my point of view! What I won't do is impose them on my clients. They come to me for a reason.

What I've done is limit my self to doing whats right for the client. Helping the client to better his position. Suggesting what's doable with in the clients ability.

I have no problem selling a 2% return when it's all the client can get and improves his position. I have no problem with selling a home when it meets the clients needs and desires.

Bill

Nov 26, 2010 02:51 PM
Broker Nick
South Florida Real Estate & Development, Inc. - Coconut Creek, FL
Broker Nick Relocation Broker Service

Congratulations this post is now featured in the Silent Majority Group of Active Rain.

Nov 27, 2010 04:46 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Nicholas,

I'm honored!

Bill

Nov 27, 2010 06:20 AM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

I came to the party late but nevertheless, I'm here. I hear you loud and clear. FUDICIARY DUTY. That's why I would continue to serve. However, I find it very weird if I didn't believe in the product.

If you sold Mary Kay and didn't believe in the product, could you be the best Mary Kay salesperson out there?

I think what I'm trying to reach is beyond the Me Analysia. At least that's how I feel.

Nov 28, 2010 02:25 AM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Loreena,

I couldn't!

I think it's more like witch shade of make-up. I can't imagean you as a "Goth" but you could sell dark make up you'd never ware! Different shades for different fokes.

You say: "I think what I'm trying to reach is beyond the Me Analysia. At least that's how I feel.
That's my point! our Professional analysis has to be based on the client's needs and desires.

Bill

Nov 28, 2010 03:45 AM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

@Bill - I had to come back to this one because I still didn't quite understand what you mean. Is it a good or bad thing?

I thought some more this morning about things in this nature:

For example - If I didn't believe in the tactics some debt collectors use to collect debt, how could I ever be happy and be the best debt collector in the world? For if I didn't believe in gambling, how could I work in a casino? If I didn't believe in broke people buying real estate (needing grants for down payment), then how could I possibly sleep at night knowing I didn't tell them that it's not a good idea to buy a home with no savings?

Nov 29, 2010 11:37 PM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Loreena,

Great question and you hit close to home!

Under no circumstance would I compromise my beliefs!

I've been in a fiduciary position in every job I ever had! Semper Fidelis is more than something from my time in the Corp. Semper Fidelis,  being faithful to my fiduciary has always dominated my professional life.

Fidelity requires both education and understanding! You must understand what are your personal preferences as opposed to those of your clients. I would never let a fiduciary break the law! I would never let a fiduciary into a disaster waiting to happen! I would never let a fiduciary be limited by my own preferences/predigests!

I had to do a professional analysis early in my real estate career when I found myself selling people homes I wouldn't live in! An Analytical Self Analysis Of Our Professional Analysis aided by some wise friends showed that my client was buying their dream or at least as much of it as they could afford at the time.

As I got more and more involved in investment properties I had the same problem with them. Then I got involved with the Farm And Land Institute, these restively simple brokers had one overriding creed "solve the people problem!" At the time I was spending 2 days a month with the CCIM Marketing Group analyzing opportunities, I loved it I believed in it! Then I joined FLI they couldn't necessarily tell what a good investment was! What those FLI brokers could do is find the fiduciary the best opportunity open to them, they could make almost every one better than they were!

All I'd learned about number crunching meant nothing if my fiduciary couldn't get to my ideal!

An Analytical Self Analysis Of Our Professional Analysis brought me to the conclusion that my job was to do the best for my client, not to clone myself, not limited them by what I prefer.

We have debate leverage, we don't or more likely didn't agree! Who's right? We both were! We were expressing personal opinions. Professionally our job is to educate our fiduciary and let them make their own choice with in the parameters listed above.

I said you hit close to home, at 22 I had a dream day job I was a bank loan office with $5,000,000.00 athorty! Unfortunately, when the doors closed at 3:00 pm I supervised collections. I was great at it! I took delinquency from 5%, very high, to 0.5%, very low in less than 6 months and maintained it. I had complete authority as the banks fiduciary! I acted in the banks best interest witch included retaining customers. But, there was a down side! We had some loans that were recoursed to the original vendors! We were contractually bound to a retailer not the banks best interest. The beginning of the end came when I had to repo a car that a young man bought new 3 years before, the car had only 500 miles on it, half of them behind a wrecker. A few months later I had to go to court and testified that the car sold at auction for $50, the judgement was for almost $5,000! I had no way of stopping it.

Shortly after that I finance a new Lincoln for a young man who's dad had to sign for it. Shortly before the second payment was due the young man now a REALTOR came into my office and closed the door. He sat down looking very embarrassed. I though no! He still owed the bank more than I made. He hemmed and hawed then said "Bill about my car loan." O'my God. Then he said he'd closed the sales he'd told me about and could he pay off the loan! Six months later I was selling real estate.

You say: "If I didn't believe in broke people buying real estate (needing grants for down payment), then how could I possibly sleep at night knowing I didn't tell them that it's not a good idea to buy a home with no savings?"  I have a real problem with this!

 I'm the guy that taught Countrywide how to make $500.00 (total out of pocket cost) loans using their Fanny Mae's "Community Home Buyer program."I financed several hundred homes by paying the down payment and closing cost for my clients! None of those homes ever went in default! But, I personally taught all the required pre-loan classes! Poor people need to own their homes much more than that their more affluent neighbors!

Bill

Nov 30, 2010 01:54 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I started to enjoy are article and then I started to think about me and me only. So, while I was thinking of me, I thought maybe I should finish this article as it may pertain to me. And if it does pertain to me, it may actually help me. Lucky for me I decide to read it for me and found out though I am not one who calculates his commission before showing a home and also realizes that each persons tastes are very different that mine. This lead me a long time ago to not put my opinion in to the house buying process, if they show signs of liking the property and it will improve their life, then write the contract. What did that do for me? It made me happy to see another person happy and that is when I learn to enjoy what I do, because in the end it wasn't about me.

Dec 04, 2010 12:21 AM