The coolest thing about getting into the "Biz" right now is that there are LOTS of changes. I learned that 49% of Denver agents did not have one transaction in 2007. So when they say "you can't swing a dead cat in this room without hitting a real estate agent" it was probably true. This wild market is quickly weeding out those that were just on the bandwagon hoping to reap some quick dough. Not the ones that hoped to keep it as a career and be studious business folk, taking special care to uphold the reputation and ethics of a Realtor. They are likely the ones that helped build the "it's all about me" reputation, which has lead to FSBO's, the need for agents to feel like they need to drop their commission and the all around negative association people have when they think of a Real Estate Agent.
I never had the opportunity to list a house and have 7 offers the second the sign went up, who knows, I may know that some day, but today I will earn my wings. Nothing will be just a free ride. I will build my client base, treat people with respect in hopes of referrals, I will starve some days, but eventually it will all come around.
I have to laugh some days, otherwise I would cry. But one day I will be searching feverishly for a part time job on Craigslist and the next day I will be writing an offer for a client that had been on the fence for months. You just never know. It is hard to search for jobs, when finally in your heart you have found your passion.
I have faith, tons of it. My family thinks too much faith! They say put a number on how much you are willing to "throw away" on this career, when that number is spent, find something else. It is not that easy, when I am peeling through Craigslist job postings, all I can think in my mind is how much I love what I do with Real Estate. If I have to work to pay for this career for awhile, it just feels right.
Thursday, April 17, 2008
Thursday, March 13, 2008
Hurry Up and Wait!
I have noticed a common theme in this industry... Hurry Up and Wait! This theme has been one of the hardest for me to grasp, out of all the crazy things that the real estate world throws at me on a daily basis. As a child growing up, when my parents wanted something, typically it meant RIGHT NOW! Finish your sandwich, go to bed, get your butt home, you get the idea. So I am programmed to move when given a task. On time meant late, in my house.
When working with buyers and sellers it is all jumbled up. Take buyers for example, buyers want to buy a house, they get all riled up about a home they want (hurry up), oh... but they are not pre-qualified... so then they go through the process of the pre-qualifying (wait). O.K. so now find the perfect house (hurry up). When they find the perfect house, you have to track down the agent (Grrr...that wait is a pet peeve of mine and another blog) to put in an offer (wait). Then it is wait, hurry up, wait till the offer goes back and forth and is fully accepted. Next are all the hoops to jump through to get the sale completed (hurry up). Almost about to close... no clear to close (wait)...
I have always considered myself a fairly patient person, but this career choice has taken me to the next level. I no longer celebrate every time someone hands me the ball. I now wait until it is in the end-zone to do my celebratory dance. You just never know who is going to try to knock the ball out of your hands while heading toward the goal.
I am not sure that in the hay days of the past when the real estate market was nuts and they had multiple bids, that maybe things rolled a bit more urgently like I prefer? It is taking me a long time to adjust to the hurry up and wait of it all, but everyday I see myself making progress!
Onto the next contract... HURRY UP!!!!! :)
When working with buyers and sellers it is all jumbled up. Take buyers for example, buyers want to buy a house, they get all riled up about a home they want (hurry up), oh... but they are not pre-qualified... so then they go through the process of the pre-qualifying (wait). O.K. so now find the perfect house (hurry up). When they find the perfect house, you have to track down the agent (Grrr...that wait is a pet peeve of mine and another blog) to put in an offer (wait). Then it is wait, hurry up, wait till the offer goes back and forth and is fully accepted. Next are all the hoops to jump through to get the sale completed (hurry up). Almost about to close... no clear to close (wait)...
I have always considered myself a fairly patient person, but this career choice has taken me to the next level. I no longer celebrate every time someone hands me the ball. I now wait until it is in the end-zone to do my celebratory dance. You just never know who is going to try to knock the ball out of your hands while heading toward the goal.
I am not sure that in the hay days of the past when the real estate market was nuts and they had multiple bids, that maybe things rolled a bit more urgently like I prefer? It is taking me a long time to adjust to the hurry up and wait of it all, but everyday I see myself making progress!
Onto the next contract... HURRY UP!!!!! :)
Sunday, December 30, 2007
Change is Good, If You Are With the Right People
Helping people with the buying and selling Real Estate is so much more than I ever thought it would be, they said in school that we were going to be a part of people's major life decisions and that it is very stressful. I find it completely fascinating! Typically you are working with clients that are embarking on a new chapter in their life. Empty nest, job change, new babies---typically stressful times in their life, couple that with one of the biggest investments they will ever make and things can get a little crazy.
Job transfers moved my family several times when I was a child and when I was old enough to call the shots, I could never seem to land too long. I like to think of myself as a professional of change. Some people hate it, some never do it, I thrive on it. Not in a bad way, but I find myself constantly growing, changing, moving forward. I think this is one of the reasons that I love Real Estate so much. Instead of uprooting myself every couple years, I can finally just live vicariously through my clients. With all the moving I have done, I am one with it! I know to expect the unexpected and how to stay a step ahead of the trauma . Surrounding yourself with people who have done it several times over and know how to stay ahead of the game will allow you to focus on the details that are important to you.
Job transfers moved my family several times when I was a child and when I was old enough to call the shots, I could never seem to land too long. I like to think of myself as a professional of change. Some people hate it, some never do it, I thrive on it. Not in a bad way, but I find myself constantly growing, changing, moving forward. I think this is one of the reasons that I love Real Estate so much. Instead of uprooting myself every couple years, I can finally just live vicariously through my clients. With all the moving I have done, I am one with it! I know to expect the unexpected and how to stay a step ahead of the trauma . Surrounding yourself with people who have done it several times over and know how to stay ahead of the game will allow you to focus on the details that are important to you.
My ultimate goal while working in this profession is to know that each step of the way, I was there for my client. This entails watching over their every need, showing them professionalism, confidence, respect and a true heart to back it all up. Most of us have made at least one move, so we can relate to the madness it can bring to the surface, couple that with one of the biggest financial investments a person can make and you have a recipe for volatility. When choosing an agent for your big move, make a conscious effort to get to know them, listen to your gut, question them. Interview them as if you are hiring a mastermind for your company. The agent is working for YOU, don't forget that.
Sunday, December 16, 2007
Will the "Real" Real Estate Agent Please Stand Up?
I just finished reading an article about an agent that went into an open house to preview a home for a client and said that she felt judged by the person heading up the open house. That he looked her up and down in judgment that she was not dressed appropriately enough... All I can say about that is... how sad that some agents feel that insecure! I believe that there is a wind of change blowing through this Real Estate Agent world, which is a long time coming. I believe that people will choose agents who are professional, knowledgeable, and very importantly make them feel safe and respected.
When the market boomed and agents thrived, it brought out some negative qualities. The agents tried to one-up each other via the car they drove, what they wore, how they gallivanted about. A fancy watch or car does not symbolize that you are an agent that cares, an agent that is in the industry for the people. In fact, I believe that it has perpetuated the thought that "agents are ripping off the consumer", the "I'd better do a FSBO, or negotiate my commissions-- so Joe Agent doesn't laugh all the way to the bank with my hard earned money." The consumer does not see how hard we work for them or the money we invest personally. When they see a big fat ride or shiny jewelry, it is only fair of them to see that the commission they pay you is leading you to the high life---an untouchable life for some of them.
It is our duty to bring the typical citizens' vision of the Real Estate agent back to earth. It is not about you and your sweet face on the calendar that they are supposed to hang on their fridge---YUCK! It is all about the client, negotiating a good deal for them, being readily available, educating them, keeping them abreast on each step of this stressful process.
Match your clothes to your clients, if you are working with someone with a lot of money to spend, break out the suits and fancy watches or Dockers and a button up shirt for the average homeowner. That is a small step you can make to change the way people view us agents. Let's put the "real" back in Real Estate agent.
When the market boomed and agents thrived, it brought out some negative qualities. The agents tried to one-up each other via the car they drove, what they wore, how they gallivanted about. A fancy watch or car does not symbolize that you are an agent that cares, an agent that is in the industry for the people. In fact, I believe that it has perpetuated the thought that "agents are ripping off the consumer", the "I'd better do a FSBO, or negotiate my commissions-- so Joe Agent doesn't laugh all the way to the bank with my hard earned money." The consumer does not see how hard we work for them or the money we invest personally. When they see a big fat ride or shiny jewelry, it is only fair of them to see that the commission they pay you is leading you to the high life---an untouchable life for some of them.
It is our duty to bring the typical citizens' vision of the Real Estate agent back to earth. It is not about you and your sweet face on the calendar that they are supposed to hang on their fridge---YUCK! It is all about the client, negotiating a good deal for them, being readily available, educating them, keeping them abreast on each step of this stressful process.
Match your clothes to your clients, if you are working with someone with a lot of money to spend, break out the suits and fancy watches or Dockers and a button up shirt for the average homeowner. That is a small step you can make to change the way people view us agents. Let's put the "real" back in Real Estate agent.
Tuesday, December 11, 2007
The Road to Real Estate Contract Wisdom for New Agents?
I have spent countless hours on the mastery of Real Estate's most important documents. In my initial real estate classes, they handed me a book on them, a huge thick book full of attorney speak. Learn it, own it, love it, it is the most vital part of your career in real estate. Become one with the contracts, don't fear the contracts, blah blah blah... Even after passing all the State & National exams with flying colors, I still kept taking classes on the contracts. I figured that I could never have enough information.
My clients depend on me to keep them safe, protected, out of court----it is all on my shoulders to get cozy with this document. I also strive to understand it, so that I can explain it in normal people language. My goal is that the paperwork on my clients largest investment makes perfect sense to them or at least sense enough that they don't feel like they are jumping into a dark hole alone.
So to make sure that I am doing my due diligence, I have always had Jerry, my partner, help me put it together(dot the i's and cross the T's for me). Today, I ventured into the hole by myself to see how I would do. I drew it up, went through it with my buyer and then before I faxed it, I brought it into the "Contract Goddess" at my office. I felt like I was turning in a paper for a advanced placement class--when I was really just an average student. She struck through lines, put checks in boxes, added verbiage and when it was all over----my contract was a whole new contract. (for future reference, I will write it up, have the contract goddess look it over-THEN have my client sign it). Needless to say my client was great about it all! I will keep this contract forever, maybe even frame it. A speaker that I have heard in the past calls it failing forward!
It can be hard to take the first step into the unknown, heck, it was hard for me to write this----throw out to the universe that I am still learning. I feel like there is power in being real and honest with yourself, also remember that you are not the first and will never be the last person that struggles with the infamous contracts.
So what is "the road to wisdom?--- Well, it's plain
and simple to express:
Err
and err
and err again
but less
and less
and less"
Piet Hein, The Road to Wisdom
My clients depend on me to keep them safe, protected, out of court----it is all on my shoulders to get cozy with this document. I also strive to understand it, so that I can explain it in normal people language. My goal is that the paperwork on my clients largest investment makes perfect sense to them or at least sense enough that they don't feel like they are jumping into a dark hole alone.
So to make sure that I am doing my due diligence, I have always had Jerry, my partner, help me put it together(dot the i's and cross the T's for me). Today, I ventured into the hole by myself to see how I would do. I drew it up, went through it with my buyer and then before I faxed it, I brought it into the "Contract Goddess" at my office. I felt like I was turning in a paper for a advanced placement class--when I was really just an average student. She struck through lines, put checks in boxes, added verbiage and when it was all over----my contract was a whole new contract. (for future reference, I will write it up, have the contract goddess look it over-THEN have my client sign it). Needless to say my client was great about it all! I will keep this contract forever, maybe even frame it. A speaker that I have heard in the past calls it failing forward!
It can be hard to take the first step into the unknown, heck, it was hard for me to write this----throw out to the universe that I am still learning. I feel like there is power in being real and honest with yourself, also remember that you are not the first and will never be the last person that struggles with the infamous contracts.
So what is "the road to wisdom?--- Well, it's plain
and simple to express:
Err
and err
and err again
but less
and less
and less"
Piet Hein, The Road to Wisdom
Monday, December 10, 2007
Wealth Building is Relative
I attended a "wealth building" conference up in Keystone, CO. Keystone was amazing----by the way. I am always a bit leery of this type of thing----wealth building.... hmmm.... Yeah, money is handy, but by no means is my motivator. I am motivated by people, emotion, time, love---so spending a couple days with people who simply want to make fat cash and be driven in a hearse with a luggage rack when they die, is not my cup of tea. I was pleasantly surprised to find a speaker that spoke to my heart, my emotion, my soul. Andy Andrews, funny, genuine and one of the few that truly understands the value of wealth.
Here are his thoughts in a nut shell:
- Choose to be happy
- Seek Wisdom
- Be responsible for yourself
- Be a person of action
- Have a forgiving spirit
- Persist without exception
- Have a decided heart
Some other snipets that I will try to carry on throughout my life...
*greet people with enthusiasm (eg. Norm at Cheers)
*Don't be "sheeple" Baaaaaad! A.K.A. Sheep People following the herd
*Forgiveness does not have to equal trust
*Agree to disagree---but STILL move forward
*Treat others as they would like to be treated (Platinum Rule)
*Successful people make decisions quickly & change their mind slowly
Unsuccessful people make decisions slowly & change their mind quickly
*It is in your moments of decision that your destiny is shaped
*Wisdom is what we do with the knowledge we have
Does that feel like $200 bucks of wisdom? If not I guess if you add in the fresh air, great company, incredible scenery and adding a new location to my list of places I had never seen before, I got pretty close!
Thursday, December 6, 2007
Power Partnerships in Real Estate
I love reading articles on how to develop a winning partnership in Real Estate because I hopped head first into one! Jerry and I found each other at the company we were at before www.realestate.com. He has been in the industry for years, unlike me only about 6 months. We would sit in training class, listen to all the training, taking copious notes with visions of becoming millionaire agents dancing in our heads (sorry it's almost Christmas). After class we would gab for a few minutes before heading off to our busy day collecting business cards to build our businesses. Those few minutes a day gabbing for a few weeks long, helped us realize that we both had the same vision and our visions had power!
Jerry and I are both straight shooters, we are real, normal people that somehow didn't fit the mold of what we pictured, as the typical agent. We love people, we love connecting and building friendships, we both didn't love what we saw in the industry. We didn't love the "me, me, me" of it all. So we made a pact to utilize the Platinum Rule, "Treat other's as they would like to be treated". No pressure, just professional and fun real estate! I come from a Recreation background, so I am all about FUN.
My partner and I differ in our backgrounds significantly. He is more technical, engineer, I.T., pilot type guy and I come from a massage therapy/recreation background. I am more hands on, connecting type of person, I am in tune with people on a different level. We have fairly defined roles in our working relationship, he builds the solid structure for our clients---with thorough contracts, laying out all their options for them so they can make educated decisions on their purchase/sale. I am the connector, I help them feel confident and safe with their new move by further educating them on the process in fun, normal people terms.
Partnerships are all about respect, if you don't have respect you have no foundation to build on. That has been a powerful growth tool for us. Everyday we learn something new about each other, the real estate business, and life! We are also listeners, we offer thoughts and ideas with an open mind, bottom line is that we shoot straight with each other. I feel so blessed to have Jerry, we are solid and connected. I wouldn't trade my partner for all the clients in the world, we are an exceptional team!
Jerry and I are both straight shooters, we are real, normal people that somehow didn't fit the mold of what we pictured, as the typical agent. We love people, we love connecting and building friendships, we both didn't love what we saw in the industry. We didn't love the "me, me, me" of it all. So we made a pact to utilize the Platinum Rule, "Treat other's as they would like to be treated". No pressure, just professional and fun real estate! I come from a Recreation background, so I am all about FUN.
My partner and I differ in our backgrounds significantly. He is more technical, engineer, I.T., pilot type guy and I come from a massage therapy/recreation background. I am more hands on, connecting type of person, I am in tune with people on a different level. We have fairly defined roles in our working relationship, he builds the solid structure for our clients---with thorough contracts, laying out all their options for them so they can make educated decisions on their purchase/sale. I am the connector, I help them feel confident and safe with their new move by further educating them on the process in fun, normal people terms.
Partnerships are all about respect, if you don't have respect you have no foundation to build on. That has been a powerful growth tool for us. Everyday we learn something new about each other, the real estate business, and life! We are also listeners, we offer thoughts and ideas with an open mind, bottom line is that we shoot straight with each other. I feel so blessed to have Jerry, we are solid and connected. I wouldn't trade my partner for all the clients in the world, we are an exceptional team!
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