I Resolve to Sell No Homes in 2010

By
Property Manager with Step One Realty, LLC, 904-469-6335 BK3161230

I resolve to sell no homes in 2010

That's right folks! You read that right. I resolve to sell no homes in the year 2010. And, I hope that I can make this resolution for each year after, too. Want to know how I can do this, and survive?

I'm building my property management business. In the latter part of 2009, I decided to focus my business efforts on my strengths, while best serving customers in need. I realized there is a segment of the real estate owner population in need of help in this economy. I came across many people who needed to sell their homes, whether due to financial hardship, job transfer, or family distress. These folks did not want to take the route of foreclosure or short sale, but couldn't sell their properties on the open market without doing so. They could not carry mortgage payments on more than one property, but could carry a partial payment, if they had help paying it. This is where I come in.

I offered them a solution of converting their residence to a rental property. I was able to get them a qualified tenant in a reasonable amount of time, in conjunction with their need to move out of their home. I walked them through the process of preparing their home for rent and shared with them the different processes we take to keep their property safe, secure, and in good condition. My owners felt comfortable in what we offered to do for them and their property, so that if they ever came back to live there, they knew there would be a home waiting for them. Other owners just wanted to know their investment wouldn't decline in value because of a lack of upkeep and attention. These were important things for them.

Because I am making this resolution, I am hopeful that I won't get distracted by the draw of a “big commission check” from a sale closing. (And, believe me, I have loved getting big checks from sales.) My strengths are not centered around sales, but rather offering resources to fix things. I'm more of a problem solver. I offer solutions when there seem to be no other. With property management, I have experience in solving problems, often those that no one else can solve. I, too, am a landlord and I can personally understand what issues landlords face, especially when it comes to tenant relations. I have resources for property maintenance and repairs, as these issues arise. And, I can get these things done much quicker than someone who is NOT a full-time property manager. This is my full-time gig, and I'm proud of it. It can get dirty and it can get ugly, but I'm the man for the job.

Some of you may say, “Hey, I'm a real estate agent, so I can manage property, too, right?” Well, yeah, you can manage rental property for your customers. But, I ask you this, “At whose expense, and for whose benefit?” Are you truly equipped for handle the day-in/day-out challenges involved with managing rental property? Do you know what to do with a security deposit when you receive it? Do you know who to call when a tenant gets locked out of their house? What happens if there's a fire at the property? What then? What accounting systems do you have in place to provide regular statements to your owners, so they can know where their money goes each month? Are you sure you know what you're doing as a property manager? Or, are you just looking for a side gig to supplement your income when sales are slow? Please think about that.

Let's have a GREAT 2010, consider the interests of others before ourselves, and offer up our STRENGTHS for the benefit of our customers.

Thanks for reading!

Eric M. Boyd, Realtor
Property Manager
Step One Realty, LLC
Jacksonville, FL
EricBoyd@StepOneRealty.com
www.StepOneRealty.com

Jacksonville Property Management

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Rainmaker
300,475
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Eric congrats property management is suppose to be a lucrative segment of real estate for the next few years, plus if it's your passion you will feel energized while helping others.

Jan 01, 2010 12:56 PM #1
Rainmaker
1,523,816
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I think that it is great that you have found a lucrative branch of real estate that you like!

Jan 01, 2010 12:58 PM #2
Rainer
52,893
Jim Dunlap
Roberts Realty - Yucca Valley, CA

My office wouldn't be hewre today if it was not for our property management.

Jan 01, 2010 12:58 PM #3
Rainmaker
122,505
Jamie Parker Gwinnett
Exp Realty - Snellville, GA
Realtor, Snellville Homes

Good luck in 2010. It sounds like you are very focused.

Jan 01, 2010 01:01 PM #4
Rainer
30,578
David Tapper
Coldwell Banker - Burlingame, CA

Way to go. Good luck. my wife is thinking of doing the same.

Cheers.

 

Tap

Jan 01, 2010 01:54 PM #5
Rainmaker
1,266,907
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Property management is not subject to the wims of the financial world or the economy...in fact the worse the economy gets, the better property management becomes!!

Jan 01, 2010 01:57 PM #6
Rainer
234,618
Diane Rice
Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - Lansing, IL
SFR, SRES, CNC

Good article here Eric!  I must show these to my agents that specialize in rental property!  Thanks for writing it.  Wallace - thanks for featuring it!

Jan 03, 2010 09:12 AM #7
Rainmaker
150,478
Eric Boyd
Step One Realty, LLC, 904-469-6335 - Jacksonville, FL
FL Licensed Real Estate Broker / Property Manager

Thank you for all your comments, everyone.  Glad ya liked it!!

Jan 03, 2010 01:15 PM #8
Rainer
76,706
Mike Sparks
The House Company Galveston Texas - Galveston, TX
Galveston Island Real Estate

Happy New Year and good luck in your Property Management focus.  I disagree a bit in your statement that your strengh is not in sales.. since you did a very fine job of representing my son, but I applaud your choice to follow where your passion lies.  It's the only way to be successful in life.  I hope you will still represent me when I decide to purchase that rental property in Jacksonville, and I darn sure know who will manage it now!

Jan 04, 2010 10:55 AM #9
Rainmaker
150,478
Eric Boyd
Step One Realty, LLC, 904-469-6335 - Jacksonville, FL
FL Licensed Real Estate Broker / Property Manager

I respect and value your disagreement, Mike.  Thank you!  But, we all know that New Years Resolutions are MEANT to be broken, so you can count on me to help you on all fronts.  Talk to you soon!  :-)

Jan 04, 2010 11:09 AM #10
Rainmaker
335,293
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

We primarily manage rentals, but we handles sales also. We are the only management company in town where the same people do both. Most sales are rental related.

Jan 05, 2010 06:40 AM #11
Rainer
18,948
BJ McKellar
Real Property Management Metro MD/DC - Washington, DC

That is awesome, The best part is you can get tons of money from referrals.

Good Luck!

Jan 07, 2010 06:22 AM #12
Rainmaker
1,607,805
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

If it is what you want then go for it. Good luck and I wish you well. Get a good book keeper.

Jan 21, 2010 02:52 PM #13
Rainmaker
116,484
Tony Sena
Shelter Realty, Inc - Henderson, NV
Broker/Property Manager

Eric,

Congrats on the move to the Property Management side of the business.  I started doing Property Management full time in May 2009 and haven't looked back since.

Hope you don't mind, I added you to our list of Property Management Companies.

Jan 24, 2010 03:07 PM #14
Rainmaker
150,478
Eric Boyd
Step One Realty, LLC, 904-469-6335 - Jacksonville, FL
FL Licensed Real Estate Broker / Property Manager

Tony, thank you for adding me to your site.  I am very appreciative!

Jan 25, 2010 01:05 AM #15
Rainer
144,772
Juliet Johnson
Vizzitopia - St Johns, FL
Jacksonville Photography & Digital Marketing

Oh Eric, your entire blog is the sales pitch I'm trying to master as I pick up rentals and property management!  I was just at New Member Orientation at the board today and was so embarrassed that I was in rentals, with a cheesy business card (well, it's just simple, and with no photo) and no point wearing a suit or high heels most days!  And you have changed all that, with your very kind comment on my blog and this wonderful resolution.

I support you!  I emulate you!  I will be your buddy in the trenches if you will be mine?

Jan 27, 2010 12:56 PM #16
Rainmaker
190,966
DEBORAH STONE
Balboa Real Estate San Diego, CA - San Diego, CA

Eric-

Just because one has a R.E. license does not make them able to manage property  Can a heart surgeon deliver babies?

I have had several clients who are licensed R.E. agents who hired me to find them tenants.

Property Management is a tough business and I have spent 20+ years in the trenches. It cannot be learned overnight.

 

Feb 02, 2010 10:28 AM #17
Ambassador
1,705,560
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Eric, this is a great solution for owners that aren't prepared to sell right now.  Good luck I wish you the best.

Jun 07, 2010 01:48 PM #18
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Rainmaker
150,478

Eric Boyd

FL Licensed Real Estate Broker / Property Manager
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