Some Observations - Food For Thought

By
Real Estate Agent with Your Castle Real Estate, Inc!

Some Observations:
I work with a lot of homebuyers in trouble, as a loss mitigator in the field.I worked with ove 1500 homeowners ni distress, and was able to get loan workouts for 950 of them.It's a tough market. I average about 10-15 of these clients a week, now. I expect my buiness on this end to expand for the net several years.

There are lots of opportunities out there, and they are growing.

What I really hate to see is all of the Brokers and their agents out here "boo-hooing" the market and their inability to sell a property. They wwhine about the MLS showing days on market, when they do little more than put a sign in the yard and a few flyers out there for their clients.What they nee to do is have a totally mobile office, and get out there in the field with the public. Encouraging homeownership on the streets is part of the key to turning the market around. Looking for ways to help people save mortgages is another. We cannot afford complacency.

Don't sell a client more home than they can afford, and get them in trouble. How would you feel if somone did that to you?

I am out daily looking for ways to help people find or sell a home. In the Field. I use my desk only when I am setting my day up (the night before), or early in the morning (4-5AM, and while getting kids off to school).

I set all of my own showings, and maintain my listings without a showing service. I als maintain my own websites, write these articles myself, and take all of my calls personally. The buck starts and stops with me, in my business. Tha keeps me accountable, cuts excess expenses, and I don't have to rent office space, pay a desk fee, or pay expensive web fees. If you Google my name, you will find me on the first two pages. What's more, I am the majority of his on those pages. Why? I do my own search engine optimization. I am totally responsible for the success of my business, and have cut costs to the point that I can do my business from nywhere with a cell signal, and a plaec to set my laptop. I have started mapping sits for my "field offices" (coffee shop and eateries) that have power outlets I can use. I patronize these businesses, and use them to advertise, via my brochures and cards.

I set myself apart from the rest of the field. I dress for action, in actionwear: Crocs, a Hawaiian Shirt, and a pair of cargo shorts. Even in teh snow!!! People recognize me from a distance, and often come up to give me a referral or ask me a real estate related question. I got asked if I was "that Realtor guy?" the other day, while repalcing a pair of broken reading glasses. One thing for sure is that people DO know who I am.

We also have to be realistic. Listen to the Buyer and Seller. Don't ovesell and underdeliver. Be honest with yourself, too. Be there to serve, and get reerrals and commissions. Chase commissions and you lose the trust of your client no matter how hard you work.

Quit wasting time: surfing the net, playnig a video game, lounging at the water cooler, bar, or your desk. Pull your head out of your hands, ask God for wisdom, treat people fair, do right, and get out there and work for a change.

I can always run into a gaggle of agents at the Friday morning association meetings. They are all baggy eyeed, looking worn, complaining about "this market," and crying in the choir. That's why I am seldom seen there. It might rub off. You cannot win with a loser mentality.

If people believe as I do that this is the greatest profession in the world, then they have to treat it like it is. Times are a little tougher, but who cares? Roll 'em up another turn and get tougher than the times.

Treat your clients and customers, and your business like and old friend, and you will get business done. Treat them as only numbers and bodies, or "burgers sold," and you will lose them all.

I love to leave my competition in the dust with my attitude and my effort. An honest fatigue causes deep, unfettered sleep. I never get down, sick, or want to give up. I never think I cannot find a way to help my clients. Wonder why? I look at every day as two thnigs: a gift to be treasured, and a day closer to my Maker. I'd hate to show up in heaven wearing a long face...

Wear your heart out there, or you will.
Back down a mountain and you'll fall down the rest of the way. Turn around and you'll never climb it.
Be confident in your abilities to do the right thing, and the right things will come.
A short cut still bleeds. Don't take them.
People cannot read your mind. Ask for help! You'll both fell more valuable for it.

All the best,

Lou

Comments (4)

Lorraine or Loretta Kratz
Crescent Moon Realty, Inc. & Land N Sea Auctions. - San Marcos, CA
Certified Negotiation Consultants

Lou:

I am a great fan of Mike Ferry, and he has this philosophy that you need to get ready for your success, so being prepared to get up and follow you plan of action is important, no doubt there will be days that everything that you have planned with need to be re-schedule, in some form or fashion. The point is to stay busy and to see how you can be of service to your client.

Do you do seminars on short sales?

Lorraine

Mar 05, 2008 01:55 AM
Anonymous
Lou Farris-

I don't at present. Too many people are out htere hawking seminars, books and tapes on the subject. Ther is a lot of information misrepresented, and a lot of blatant misrepresentation out theere. The market is changing, but hteir materials isn't.

I look at each property as a separate and unique entity, and try to understand what hte lender needs to make a deal happen.

Then, I act.

Mar 05, 2008 04:16 AM
#2
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Lou: 

I'm working on developing a short sale listing and buying class in the Northern VA market.  We definitely are seeing many homes on the market that...well...just shouldn't be there.  There is no hardship.  No missed payments and yet, listing agents are taking these listings and throwing them on the market.    I think that short sales are great when used to help the people they are supposed to.  In our market, the short sale is not understood as what is supposed to be "a preforeclosure sale">

Mar 05, 2008 04:21 AM
April Hayden-Munson
Brookfield, WI
Brookfield Wisconsin Real Estate

Nice Blog Lou,

Thanks for keeping us up and "out".  When agents in my office ask where I've been - I tell them I don't make money in the office, I have to be out in the field!

Mar 05, 2008 05:07 AM