Several years ago I made the decision to close my office and just work
from home. Well, guess what? It didn't work for me.
I realize that some agents can work from home, but my business
model requires meeting with both buyers and sellers face-to-face and
at my office. I sell businesses.
When I chose to close my office the business was at a low ebb. For the
first time in our history business closings out-paced business
openings. To prove this all you need to do is look around you. There
are VACANCIES IN COMMERCIAL SPACES ALL OVER THE PLACE.
Take it to the bank
Also, many buyers of small businesses need to get financing. Most
people think that they can get an SBA loan. Maybe they can, but an SBA
loan is actually a bank loan and the bank requires that the borrower
pledge ALL their other real estate to guarantee the loan. You see, most
small businesses fail (90% over a ten year period).
So, my style of selling businesses was to get the buyer to "borrow" the
initial cost from their home equity (after all, they would need to pledge
it anyway) at a lower cost than an SBA loan and have longer to pay it
Well, no one had any home equity back then. My model "died" and I
had to close my office.
I intend to open a new office early in 2017. I will practice general real
estate and hire agents. It has been a long time since I did this. But I
have kept my oar in the water by selling a house or two each year.
And I stay in-touch with the industry by maintaining my memberships
in SDAR. CAR, and NAR.
Plus (and this is a big plus) I am active on ActiveRain. This has been
the best thing I have done to earn credibility. With a name like mine, it
is easy to get lost in the crowd. When I first joined our local board
there were three "Bill Roberts" as members (and that is only San Diego
County). Nationally, there are too many to count. Before I started
blogging I did a Google search for me. I had to go through over 500
pages before I found any reference to me. Now I can be found on page
one or two of SERPs.
Well anyway, I have been stewing about what to do. Should I do a
make over or just a do over? I guess that my decision is a compromise.
I will continue to sell businesses (thanks to Donald Trump's election)
and sell houses.
Of course I will continue to do Financial Planning for Baby Boomers.
But this will be put into high gear, as well.
Remember what John F. Kennedy said: "A rising tide lifts all boats."
I fully expect the tide to rise over the next few years. Home building
will come back in a rush. And the whole economy rises or falls with the
home building industry. Watch for it. And watch for me to re-open my