VO Tip #4: Don't do Business with These Folks (since they won't do business with you)
Just recently, I gave a referral to a very fine attorney- actually he is one of many that I have known through real estate closings as well as other legal matters. I had given him a - what I think was a great referral.... someone lost 3 million bucks in a situation ex-husband, buy-renovate-flip kind of thing... The connection was made and most likely the attorney "friend" will have a case.
The potential client called me IN ERROR.... a "WRONG" number... I believe and have believed that a wrong number CAN BE converted to something- IF I am open to listen and willing to help!
I heard her out and determined that I do know a GREAT LITIGATION ATTORNEY, I could easy link to his firm now and create more good will for him and promote his LEGAL business. I must step back and not be so generous.
I had an attorney call me a few days ago- I'm living in (actually staying at) a condo that is owned by one of my SHORT-SALE , PRE-FORECLOSURE, LOAN MODIFICATION, etc.
Before bringing in my things- I did ask the owner for permission to camp out at his place- he said, OK. But you must cooperated with the receivership office - another attorney representing this 13 unit vintage building- I agreed to do as he said.
I'm always- when on the ball and alert - looking for way to pay it forward, help whevever and whoever I can. That's just the way I like to life my life.
Out of the 13 or 14 units in this condo conversion know as HOLIDAY TOWERS CONDO on INDIAN CREEK DRIVE IN NOSTALGIC NORTH BEACH... It seems like 10 units are VACANT! This means to me, that only 4 units are paying the condo association fees.... Right?
718.116 Basically states and was recently enacted for a very good reason- I agree that it MUST be enforced to the full extent of the law.
718.116 Assessments; liability; lien and priority; interest; collection.
(1)(a) A unit owner, regardless of how his or her title has been acquired, including by purchase at a foreclosure sale or by deed in lieu of foreclosure, is liable for all assessments which come due while he or she is the unit owner. Additionally, a unit owner is jointly and severally liable with the previous owner for all unpaid assessments that came due up to the time of transfer of title. This liability is without prejudice to any right the owner may have to recover from the previous owner the amounts paid by the owner.
(b) The liability of a first mortgagee or its successor or assignees who acquire title to a unit by foreclosure or by deed in lieu of foreclosure for the unpaid assessments that became due prior to the mortgagee's acquisition of title is limited to the lesser of:
1. The unit's unpaid common expenses and regular periodic assessments which accrued or came due during the 6 months immediately preceding the acquisition of title and for which payment in full has not been received by the association; or
2. One percent of the original mortgage debt. The provisions of this paragraph apply only if the first mortgagee joined the association as a defendant in the foreclosure action. Joinder of the association is not required if, on the date the complaint is filed, the association was dissolved or did not maintain an office or agent for service of process at a location which was known to or reasonably discoverable by the mortgagee.
(c) The person acquiring title shall pay the amount owed to the association within 30 days after transfer of title. Failure to pay the full amount when due shall entitle the association to record a claim of lien against the parcel and proceed in the same manner as provided in this section for the collection of unpaid assessments.
EVERY CASE IS UNIQUE... I AM SORT OF CAMPING OUT HERE.... THE ELECTRIC BILL IS IN MY NAME... MY CAR HAS BEEN BROKEN INTO, SUCKS. I DON'T PAY RENT, YET. THE OWNER HAS BEEN KIND ENOUGH TO LET ME BORROW HIS FULLY FURNISHED PLACE. I NEED A PLUMBER, AND ELECTRICAL WORK TOO- I AM WILL TO PAY FOR THESE REPAIRS~PROBABLY $1,500 IN LABOR AND MATERIAL. LET'S GET CIVILIZED AND WORK THINGS OUT.
WHAT I OFFER IS TO GET THE OTHER UNIT SOLD AND/OR RENTED SO THAT THE CONDOMINIUM ASSOCIATION OF HOLIDAY TOWERS CONDOMINIUM ASSOCIATION.... CAN COME OUT OF RECEIVERSHIP. MY INTENTIONS ARE GOOD, HONEST AND IN THE BEST INTEREST OF LENDERS, OWNERS AND THE GENERAL PUBLIC.
IT is critical to understand the who, what, where, when, HOW and why ~ BEFORE JUMPING TO CONCLUSIONS.
I AM NOT AN ATTORNEY AND DO NOT PLAY ONE ON TV, CABLE, THE INTERNET, ETC.
NOTARY PUBLIC, APOSTILLE SERVICES, MORTGAGE GUIDANCE, REAL ESTATE BROKER, SINCE 1980
Mott Marvin Kornicki, REALTOR®
I did the math and added up what I spent over the past 3 years at a locally owned car muffler franchise: $3,000. Wow. I thought the owners would be happy to "reciprocate" by doing business with me -- their loyal big-spending customer. Boy, was I wrong!
When I showed them how they could benefit from my legal services plan, they refused to buy my product. It wasn't because of cost -- my plan is extremely affordable and saves them so much. And they can offer the plan to their employees at NO cost to them!
What was it then? Selfishness? Lack of loyalty? Ignorance? No support for local businesses? None of those. It was just small-thinking mentality. That's what was limiting their muffler business, and is probably why they went out of business soon after.
They failed to recongize the impact of Doing Reciprocal Business.
What is Reciprocal Business? It's merely making an commitment to do business with those folks who do business with you. It's win-win. Sometimes known as "you scratch my back and I'll scratch yours."
For example: Suzy sells an insurance policy to the owner of Bob's Bicycles and she earns $200. She was planning to buy her son a bike for Christmas at a big chain store (X-Mart); but instead, she buys it from her new client Bob. Although she may have spent $50 more than buying from X-Mart, in actuality she still netted $150 because of the $200 she earned from Bob. And now Bob will recommend her services to all of his friends, family, and business acquaintances.
Doesn't that just make sense? Some would call it a "no-brainer".
Doing reciprocal business is NOT:
- Networking
- Lead referrals
- "Buying local"
- Bartering
- Exchanging
- Web site linking
- Swapping
How will you know if a business owner or professional is open to doing reciprocal business? Look for these traits:
- Open-minded (good attitude, willing to listen to their customers)
- Building their business (not stagnant or going downhill)
- Desire to work smarter (want to make it a win-win)
- Enjoy blessing others (not just self-centered)
- Integrity and honesty (they do what they say they will do)
So, how do you approach business professionals you wish to reciprocate with? In other words, you'd like to buy their products or services, and you know that they can benefit from yours. You can say:
- "I need to buy products; it makes sense to spend my money with companies who spend money with me." OR
- "I can afford to pay for your service because you bought my product." OR
- "I'm sorry but I invest my money by doing business with my clients."
After all you ARE investing in others who are investing in you! That's perfectly legit -- and a savvy business strategy. Reciprocating is better than bartering, and it sure beats begging for business. You feel good helping others become successful, while that also fuels your success.
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Regina P. Brown
Allison James Estates & Homes
www.ReginaBrown.AllisonJamesInc.com
Regina P. Brown
Broker, Realtor®, e-Pro
California DRE # 00983670
Join & post to my NEW ActiveRain group at http://activerain.com/groups/virtualoffice
Text copyright © 2010 R.P. Brown, All Rights Reserved
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