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What Do You Drive? What About A Billionaire?

By
Services for Real Estate Pros with The PowerHouse Group 0467092

I've seen several posts regarding the importance, or lack of importance on what an agent drives.  Many of the postings describe the importance of "looking" successful.  I understand the importance of looking the part, but should that be the overall focus?  Here's a lesson I learned years ago about looking successful versus being successful.

Many years back when I was a police officer, our police association had invited H. Ross Perot to speak to us regarding the difficult poliitcal times our department was going through.  I had been assigned to the parking lot of our association office to wait for Mr. Perot to arrive and make sure he and his body guards were escorted in safely.  Our office was not in the best area of town, so I assumed there would be multiple vehicles arriving in somewhat of a motorcade fashion.  As I waited, I noticed a car drive up and park in the lot.  I assumed by the age and type of vehicle (it was a 3-4 year old mid-sized Buick), that it was another police officer arriving late.  Much to my surprise, Mr. Perot himself emerged.  What?  No bodyguards?  No motorcade?  No frills?  That's right, just an unassuming man in a non-luxury vehicle who could have passed for any of our neighbors....except for the fact that he had a net worth exceeding 3 billion dollars at the time.  He took the time to shake my hand and make some small talk as I escorted him into our meeting.  I don't think anyone can challenge that this man was in fact successful.  

That night will be ingrained in my mind forever, not just because he'll likely be the only billionaire I'll ever meet, but because he did not "appear" to be successful based on my stereotype of a billionaire.  This man wealthy beyond belief and he drove the same type vehicle as most police officers would drive. 

This is not meant to knock those folks who drive luxury vehicles because it makes them feel more successful.  Good for you if that's the case.  But I do think we sometimes perpetuate stereotypes that much of the public rails against when we don't look at inner selves rather than just our outer selves.  

I'm not hypocritical either...I drive a 2001 4Runner with 177K miles on it and I plan to keep it for several more years.  

  

Comments (14)

Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Many years ago in a broker training class our instructor said that Realtors should drive clean, polished, average cars. Nothing fancy or pretentious because it made the clients feel like Realtors earned too much money.

About then an expensively dressed lady spoke up and said that if she didn't drive a Cadillac her clients wouldn't think she was "like them."

He said that might be so, but he still left his Ferrari in the garage and drove the Chevy when he went out to sell real estate.

Something to think about...  

Mar 19, 2008 04:57 PM
Guy E. Gimenez
The PowerHouse Group - Austin, TX
ABR, CRS, GRI - Broker & Investor (512-731-5613)

Marte - Excellent statement and one I'll be using in the future. 

Thanks much!

Mar 19, 2008 04:59 PM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Guy,

Until this past Christmas, I drove my 1998 Toyota Camry XLE, it has over 10700 miles on it. I love that car. My parent's decided that I should have a new car and they bought me a Nissan Maxima for Christmas...nice of them I know...however, I still have the camry...and will probably sell it soon. I still love that car...

What do you do when the "parents" buy you a car?  I had a "Nascar" little model car in about 6 boxes to open for Christmas...did I mention my sister got 2 acre's on a "creek front" where she knocked down our cottage and built a 3500 sq. ft. home...that (let me stop here)...

You understand...???  Don't get me wrong the car is beautiful...but the gas mileage is horrible...what to do???  I'm on my second box of kleenex for my lovely Toyota...I promised not to sell her! But I might...you have a car, you still have to pay the insurance...K

Mar 19, 2008 05:08 PM
Guy E. Gimenez
The PowerHouse Group - Austin, TX
ABR, CRS, GRI - Broker & Investor (512-731-5613)
Karen...I failed to mention that my other car is a 1996 Camry with 239K miles.  It is the best car I've ever owned so I had it repainted about 5 years ago and it still looks new.  I think my 15 y/o will get that one soon...just can't see myself parting with it.  I don't see cars as an appreciating asset so I buy good non-luxury cars and keep them for many years.  BTW, I'd love to meet your parents when they're in the car buying mode again.
Mar 19, 2008 05:27 PM
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

Guy,

I was so mad at my dad when he sold that 1972 MG midget that we rebuilt when I lived at home a few years ago...he said if I drove it, I would get killed in it...ugh...I just wanted to look at it...

as I type ananasnaja???

Mar 19, 2008 05:31 PM
Ronell Moore
180 Degree Floors - Nashville, TN
Transforming your Flooring into a work of Art.
Well I have heard and sceen many wealth people drive very modest cars. However they have bank accounts that can back up anything that they say. Im sure every wealth person has a car that they drive day for day and a car that the called there Sunday car. We need to look the part, but what if we cant talk the part. Or, shoul dwe be able to talk the talk, walk the walk (by providing great service). I m a beleive that people would rather have someone with the knowledge and great service. Than someone who does not know a thing in a nice car.
Mar 19, 2008 05:35 PM
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

I sort of take the middle road.  I have a Honda Element. Nothing fancy, but its only 3 years old. I will keep this car for as long as is practica - probably another 5-6 years. After that, I'm getting a hybrid.  As long as it runs, looks well maintained and gets good mileage it will remain my primary car.  I see no need for a Lexus or BMW.  Waste of money. Sometimes, when you live in a place like Westchester, that's hard to "stick to." Too many people put a premium on appearances.  Interestingly, the business crowd seems to like me in spite of the fact that I am decidedly not the "showy" type. 

Mar 19, 2008 08:03 PM
Laura Karambelas
Baird & Warner Downers Grove - Downers Grove, IL
Realtor - Downers Grove
I drive a Jeep and I love it.  It comes in pretty handy with the winters in Chicago.  I think as long as your car is clean, it doesn't matter what you drive. 
Mar 19, 2008 11:37 PM
Leslie Bloss, Bellevue Real Estate Professional
Bellevue, WA

Hi Guy,

I drive a Camry, I like it very much and it is large enough for clients.  My dad would never drive anything that was not "American" made.  Coming from a family that was very frugal I could not buy a luxury car--it just goes against my nature. 

Mar 21, 2008 08:03 AM
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

GUY, One of my best years in real estate I had exchanged cars with my daughter because she had the Saturn from hell and that Saturn needed to be closer to my husband.  I drove that Saturn until she graduated from college.  There was always something wrong with it but it was paid for. 

The month she graduated I did buy a two year old Nissan Altima (we always buy used and let someone else take the hit).  I love my Altima and I'm sure I will drive it until it is well over 100,000 miles but it is so comfortable inside and has that big engine (which can get me in trouble but great when you want to pass).

Mar 22, 2008 04:08 PM
Guy E. Gimenez
The PowerHouse Group - Austin, TX
ABR, CRS, GRI - Broker & Investor (512-731-5613)

Marchel:  It's amazing how many people do well in real estate and don't need a luxury vehicle.  The last vehicle I purchased was new and I will promise you it will be the last new vehicle I ever purchase.  Like you, I want to buy used and allow the previous owner to take the hit when they drive it off the new car lot.  You are unique in that you are not defined by what you drive, you're defined by what you know. 

Just started reading a book called "A New Earth" that discusses how our ego works against us and essentially keeps us purchasing more and more material things so we can feel good about who we are.  I always say it's a good thing our economy isn't depending on me to keep it going or we'd have been in this mess years ago.

 

Mar 22, 2008 05:17 PM
Brian Kreick
Willinger Real Estate - Wenatchee, WA
I personally know several people that are millionaires.  They all drive normal cars and look and act normal.  The people that drive nice cars and dress really fancy are those that want to be millionaires but are far from it.
Mar 23, 2008 02:28 AM
Guy E. Gimenez
The PowerHouse Group - Austin, TX
ABR, CRS, GRI - Broker & Investor (512-731-5613)

BRIAN:  I know only a few multi-millionaires and they either drive trucks or mid-sized non-luxury vehicles.  Many years ago I read a book called "The Millionaire Next Door" and it really helped me understand the difference between those who are truly wealthy (financially) and those who want to look wealthy.  Big difference most of the time. 

Mar 23, 2008 02:42 AM
Richard Ives
Chicago, IL
Hi Guy great post.  I have an SUV due to the winters in Chicago and it works well for me.
Apr 10, 2008 04:53 AM