“When the Going Gets Tough… it’s Just Plain Tough!”

Rich – I think we should appreciate the smooth transactions even more. Heaven knows they are becoming the exception rather than the rule.

COME ON. THERE IS BUSINESS OUT THERE.

Seriously. You can make this business whatever you want. Do what Dr. Stephen covey said 20 years ago. Expand your circle of influence.

How?

1.) Pick a non stupid mortgage lender that is 100% surviving in this market. Don’t work with someone that’s only doing 2 closings a month.

2.) Stop bitching. SERIOSULY. You beget what you create or whatever.

3.) GO PROSPECT MORE. If it’s moneyblogging, fine, do SOMETHING PRODUCTIVE that gets you newd deals.

4.) Track your numbers.

5.) Get a survival buddy to have daily accountability.

6.) Apartment complex marketing.

7.) What barry said, investor marketing.

8.) Join LoanOfficerSurvivalTraining.com and get my 16 ways of getting NEW business.

or rather,

QUIT.

Rich with all due respect I have to agree with Chris 100%..maybe 150%. There is NOTHING in a transaction outslide of your control. You may simply be ALLOWING it to be out of your control. We close transactions around the Country without ever seeing the property. It’s not that systems don’t work..it is Your system that is failing you.

One of my problems was I kept accepting from mortgage brokers and title companies that it it took 45 days or so to close. I accepted it and that was that. Then I found out that the REAL reason things took so long to close is that the title company was slow and was pushing things off their desk and going by the contract date. Hence if the contract had a 30-60 day close, they would not even schedule work on the file for a couple of weeks. Then the same with the mortgage lender. he would have conditions back in 24-48 hours and simple items were taking WEEKS to obtain.

We stepped in and placed a transaction coordinator in the mix. She made sure that we received title searches, liens searches and title commitments in 24 -48 hours. Our mortgage brokers were made aware that they had 72 hours to provide us with conditions from the lender and a pre-approval.

Then we have a meeting within 96 hours (via web conference) and set the tasks to bring the deal to close and close most transactions within 10-15 days. Hard money deals even quicker.

30-45 day closes are for chumps! The Web 2.0 world does not stop at blogging!

Most real estate agents unforutnately are NOT agent geniuses and really have no idea as to how to manage a transaction. They get lazy and cheap and sit around waiting for thr proverbail 45-60 day close and then when it falls apart it is truly as Chris says..whimpering. Not at all saying that about you but those who are not well rounded in managing their BUSINESS and taking advantage of the WEB 2.0 world and the transaparency therein on ALL aspects of the transaction are truly doing a disservice to their clients and missing out on a lot of paydays.

Are real estate agents really still thinking it takes 30-60 days to close a deal? Wow…like I have said in many previous comments and posts…dinosaurs waiting for the comet!

I think that a lot of persons are feeling the strain with everything – and are looking to take it out to vent their frustrations. Which means, our job just becomes more important to remain professional. For most persons, buying or selling a home is an emotional experience. Being able to talk them down off the ledge is just one skill of many that real estate professionals need to have at their disposal.

Hi Rich, random question, but is that a Relient K t-shirt?

Laurie Manny posted a deep breath a couple of days ago.

https://www.longbeachrealestatehome.com/long-beach-real-estate-market-everybody-hurts

just a thought………

Rich ~ It is common knowledge we are dealing with a very low consumer confidence now. The toughest part of our transactions are dealing with 3rd party emotions. One day they are up the next day they are down and worried they are making a mistake. I don’t care how much hand-holding you do, there are bound to be times when deals just aren’t going to work.

We have also gotten ourselves into some crazy notions that homes have to transfer “absolutely perfect”. Twenty year old homes must have zero defects. Yeah sure only in a perfect world.

The best thing you can do is keep your head on straight and lead by example. Getting ahead of a problem before it happens works. Sometimes we have to out think everyone else and have more than one plan. Asking folks what’s their Plan b when they get shaky sometimes brings them back to reality.

Our company has been tracking the month-to-month sales fallout rate. This past month it was a staggering 25.82%, double than what it was same time last year. Last August or September it was in the 40% range! Obviously this was after the lending institutions met their waterloo.

Our current fallout relates to all the things you have mentioned, in a nutshell a lack of consumer confidence.

There is no doubt this sort of fallout creates considerable strain on the consumers, Realtors, lenders, and the entire resale service industry.

We need to bring confidence back to our country. Instead of sniping and casting blame, we need personal responsibility and common sense.

Hang in there, this too shall pass!

Rich, Are you pissing folks off in here? If it helps I’m on your side. I could honestly say that if I were working for buyers all of my deals would close unless it was in my buyers best interest to not close i.e. inspection issues, title issues etc…

Working for sellers it’s certainly a little more difficult. We don’t have control over the buyers and unfortunately have to take their lenders at face valie for a lot of stuff. And I don’t like it one bit. In my market most buyers are marginal to say the least. I can make all the right calls and take all the right steps to make sure they are qualified BUT I’m not the one looking at their credit and financials. I wish I were but I’m not. If their lender is lying to me I’m screwed.

Now as Barry mentioned working with Investors is a whole different ball game. Assuming they are qualified and experienced investors their deals should be smoother and should close. Even though they are notorious for 11th hour negotiating.

In my market, right now, it’s a fact that if you are a listing broker and don’t have REO listings you are dead in the water. Not much I can do about that except solicit for REO listings. That takes time when you are a one man office. Short sales are a pretty good niche on the listing side but those can certainly be frustrating. Bu that’s OK I don’t mind frustration to a point. My average seller doesn’t have a chance of selling in this market. Even if they bought 8 years ago and put 20% down they are still over financed today. They can’t compete with the bank.

So…what I’m doing is spending this year working ON by business. I’m changing directions completely. I’m in the process of going virtual and hiring agents. This is something I’ve never done. I’ve also been spending time working on my Internet presense. I actually own Google for my market area. I’m basically getting ready for next year and beyond and just doing what I can for this year. And….I’m getting a great tan!!!!

Real estate transactions can fall apart through no fault of the agents. We don’t control everything, if we did you can bet every transaction would work out because we are so very fond of being paid.

Sorry. Back to this.

Here’s the deal. You can’t control an individual transaction.

But you can control weather or not you have them…

You know..I try to be cordial and bow out but you guys think it’s ok to take shots without regard. Elaine, there is no other worldly place. It’s right ehre. In literally hundreds of transactions in the last 7 years, closer to 800 actually I have had 2..just two deals blow up on me. Every single one..every single one has closed.

Were there problems along the way, of course, but we knew where the problems were and knew how to overcome them.

My attitude is not shaky ..I ABSOLUTELY love this market and truly wish it would stay like this for quite a while. It’s like Christmas every day!

The actual point of the matter lies in your statement wherein you say “ordinary residential buyers certainly don’t shell out hard earned money to have inspections until they are in contract on a home”…maybe some of you guys need to expand your horizons and actually try things BEFORE you discount them.

Most of my deals close and I am paid before the contract even is dry. We have cultivated a stable of buyers who tell us in advance what they are looking for. We either go to contract and quickly assign, effect a true wet-wet double closing, or hold and sell thereafter.

Every single contract I have ever written, bar none, whether to investors or end buyers has had this clause in it:

Buyer warrants that all inspections have been made to Buyer’s satisfaction and Buyer agrees to accept the property in As-Is condition and shall be responsible to close regardless of any future inspection issues raised by the Buyer’s lender or any other 3rd party.

If I go to contract I EXPECT to be paid. I make sure going in that I know whaere the bones are in the deal. If there is an encroachment, we have already read the survey, if there are permit issues we have already spoken to the city and had them pulled from microfilm, useful life expiration on roofs, hvac and etc…we know it before we go into contract…the workup we do on a property prepares us to make sure we have everything covered.

We have a 30 page booklet that we fill out before we even go to contract ..it makes it very easy for us when we pull the trigger. Therefore when we sell, there are NO surprises.

When we sell we also require the buyer to either provide a solid pre-approval that we verify and have our mortgage people make sure the Buyer’s mortgage people know what they are doing.

We have title prepared an by Contract reuire the Buyer to use our title company.

There is so much more but I am not sure why you guys don’t get it. We are so thorough that people often say it’s the easiest closing they have ever seen.

I am not sure why you and Rich can’t see that you ABSOLUTELY be prepared for any issues and sometimes that includes an Act of God clause. (remember we live in Hurricaneville).

I understand that Rich was reduced to anger and some have found it quite unbelievable and even you think it’s from another planet but we do it. I have outlined just SOME of what we do in each and every transaction. I asked Rich what hiccups he has so I could address them and I got told to go away..so I did until you maliciously wrote this comment.

I have read some of the excuses from people above and point blank…that would never happen. It’s not a fabrication it’s jsut the way we do things. I’m sorry if you don’t believe it but unless you have done all that we do, then you can’t really say that there are things beyond your control.

One lady mentioned above that there’s nothing you can do about a Buyer who gets “cold feet”….sure you can. I love those, they are the easiest money out there. However it does not happen all that often and what some look at as a problem I look at as a profit center.

Elaine and Rich, it’s a matter of perspective. I was trained by a mentor who has been buying and selling real estate for 30 years. He’s a fixture here in South Florida and is known as the Godfather of Real Estate.

I was fortunate to meet this man nearly 20 years ago and he has continued to teach more than most can ever imagine. One of the things he taught me over a decade ago was to not leave anything to chance in your deal. Deal management is a honed skill.

While many may not have it and may never have it, you can’t denigrate and think crazy those who have spent years and years perfecting it.

We pride on getting our deals closed and like I said, until you walk into a prison with attorney’s to see a convicted double murderer who could not attend closing for obvious reasons…you have not truly learned how to wholly manage a transaction.

That deal netted me over $50,000 in about 3 weeks simply becasue we knew and were able to get the deal closed. Nobody else could or would spend the time and money to get it done.

Do you have any idea what it takes to get a deal done with a convicted murderer serving two life sentences? Now I do.

That’s what we do. Others would have said it wasn’t doable. We found a way to make it happen and now we have the requisite knowledge to handle similar situations in the future and now people come to us because they know we can get those kind of deals done.

Someone getting cold feet, a mortgage broker flaking out…that’s small potatoes. Every deal I get involved in I expect to close and will do what ever is necessary to ensure that it does.

Am I crazy..dunno..it most assuredly works for us.

If you can survive in this market, you will THRIVE when the pendulum swings back. Doing what needs to be done and remaining focused will pull anyone with enough dedication through this… What is really important is that we all have eachother to lean on when we want to pull out our hair.

@Rich I think you show remarkable self-restraint

@Barry – I know you love to “stir it up” but you’re way too bright to think that your small part of the market is indicative of the real estate market outside your small sphere – and yes, I mean small –

Investors as a whole have always been a small minority (yes that is grammatically correct – minorities can come in different sizes) of the entire real estate marketplace. And when the smaller investor (people who buy one or two or even 10 or 20 houses) are taken out of the picture, the minority shrinks even further. So to go off the point of the discussion and then act as if that experience is really relevant to the vast majority of real estate professionals or real estate consumers is just plain silly.

You’re correct when you say Elaine and Rich, it’s a matter of perspective. But you ignore the fact that they speak from the perspective of the majority of the participants in the real estate marketplace. Close to 800 deals in seven years? Very nice for you, and not to get into a spitting match, I won’t compare my own purchases in that time, but I would point out that a medium size real estate company does that in less then 6 months, and a large one does that many deals in less then a month – so when you talk about the real estate experience, try to measure the sum total of your experiences against that perspective –

Jay, you are correct sir, I am NOT a licensed agent.

Mariana, you are the type of person I like to work with. You seem to be a “see it from all sides” type of person. Agents like you in this market do quite well down here and have a bunch of business from the money making minority!

Rich, you may want to scroll up. It was Chris who said for you to quit.

Brian..love the line..”treat relationships like a lone stud at an all-women college”…yeah..that’s true. I can’t deny that one 🙂 But you have to admit when we run into agents and mortgage brokers who give us what we want we end up staying with the one who brought ya. Wouldn’t jump horses if I was making money. But I admit that some investors can resemble mercenaries.

I can admit that if you can admit that most agents can’t provide investors with information that they need and that a lot of agents are flat out intimidated by investors becasue they are used to dealing with buyers who don’t know the questions to ask.

Sometimes it’s not profitable going the “easy” route. Sometimes you have to as an agent EARN your keep. IMO

Barry, In all fairness you have to admit that what you do and what we do is different. You are in a better position to control the entire transaction because you are a principle to the transaction. You are comparing apples to oranges. I wear 2 hats, one as a REALTOR(R) and one as an Investor(albeit small time). Depending on what hat I am wearing my duties are completely different and the transaction process is different. I have way more control as a buyer than I do as a REALTOR(R). That’s the way it is.

It also becomes more complicated if I wanted to “wholesale” properties. It can certainly be done but as a REALTOR(R) and a licensee it’s not as easy. I always have to protect my license. So for me, I choose to NOT get involved in “wholesaling”. It’s difficult for me to place a property under contract and then flip in to one of my Investors when I could do the same thing by just listing it and taking a commission even though in most cases the commission will be far less.

Look at this way, if you had a REALTOR(R) you were working with and then found out you were competing with them (they were only passing down properties they didn’t want themselves) would you continue to use their services? I doubt it. That’s why it’s so difficult to wear both hats.

So in this market, or my market to be specific, right now, I have to decide whether to get into the buying and selling business OR continue to realign my brokerage that I’ve had for 10 years. My decision is to realign my brokerage.

Barry, what you do and what we do are completely different. Can’t you see that?

BB..you are somewhat correct. What we do is a BIT different. Not much but a bit.

Bil…let me ask you a question. What “broad sweeping statements” are you referring to? This conversation was posed as an industry wide assessment. So how is speaking in terms of the industry a bad thing.

Secondly, was Rich being restrained when he said above.. “Go take a bath in some ‘positive’ slime and play the video”…was that the restraint you saw?

I don’t presume to be an authority but I do have experience and I’m not a dunce.

You said “but the rest of us are working in a much larger Universe, and therefore statistically the chances of a problem are greater. In addition, you are the principal in all of those transactions, so you only really dealt with (at most) 400 other principals (discounting partnerships etc)- an even smaller sampling”

Well what universe would that be and why do you presume to be in another universe. You are in Philadelphia and I am in South Florida…it’s not like I am in Idaho. What makes your “Universe” bigger and more substantial then mine? I think one of the AG contributors (Ines) would think otherwise as well. What in the world does that possibly mean?

And you may want to double check your math, but it’s not all that important as not much of what you respond with has an substance. The whole bigger Universe thing has thrown me and quite a few who have read this into wondering what in the world was in your coffee this morning.

C’mon Bill…your statement of “There is a lot you don’t know about the real estate industry because you work in a specific niche, though I am sure that there is a lot you do know about being a consumer and real estate investor”….you’re kididng right? I mean you want to challenge my knowledge of the real estate business…are you SURE you want to enter into that realm? I don’t think you do…matter of fact I know you don’t.

Are you intimating that a week of class and a couple of hundred bucks is a pre-requisite for knowing the business? Wow..that’s one pompous attitude there. I CHOOSE not to be licensed.

I don’t have to be. I get ALL of the benefits of being a licensee without dealing with ANY of the BS.

I have read many of your comments and posts and that is probably the single biggest faux pas I have read of yours to think that because I am not licensed that I can’t stand toe-to-toe with any agent, including yourself, in regards to knowledge of the business and transactional management. That’s just one preposterous allegation meant to get a rise out of me but it takes a lot more than that. That statement you made was absurd. However if it makes you and others sleep well at night thinking that their positions are loftier because of the piece of paper on the wall…so be it.

Bob, If that works for you then I won’t debate you. Like I said, if it makes you sleep better then have at it. Maybe Broker Bryant can tell you about being a Transactional Broker.

Barry, I took my first licensing class back in 1982. At the time I was a waiter but was also investing in real estate. I took the class but never went for licensing because I did not want to be encumbered with a license. So I certainly understand where you are coming from. My license is restrictive when it comes to investing, in my opinion. It doesn’t mean I can’t still invest I just have to be more careful with how I treat the public. Just the fact that I’m licensed and have to disclose this, keeps me from being able to be completely “arms length”.

For example, I work in a pretty small very niche market area. My reputation is everything. If I started buying and flipping or “wholesaling” properties my potential sellers would be concerned that they were competing with may an my personal properties. Buyer’s would feel the same way. It would basically be shooting myself in the foot. I chose to be a Broker. It’s different and more than a BIT. Let’s go with quite a bit:)

BB..Okay I can concede a bit in your direction. Thanks for coming back with substantive conversation. What about when I act as the Selelr and list one of the properties that I have purchased through an agent. Are we not then working pretty much the same from that point?

Bill…like I said, you’re not adding much to the discussion. Nothing is being painted with the “same brush (by the way do a lot of you guys go to like blog jargon class?)

We buy and we sell and often times sell via agency and list and market and do what it takes to move a property and make sure it closes. This business isn’t brain surgery (obviously)…you assume too much I am, often on both sides of the coin and when the need arises to list and market and sell and do those things we need to do within the realm of a licensee we do. When we don’t we don’t. That simple.

I didn’t ask for your opinion on what is or is not an agency relationship. We’ve got that handled. That’s why we pay the guys in the suits in the big towers downtown, so we don’t have to take your opinion. Or rely upon blog conjecture.

Thanks anyways.

I sure wish we could edit comments after posting. I run a spell check but still miss things. Then it’s too late. How about it Benn? Editing capabilities? Please.

Russell as I know what you say really matters I thank you for bringing your view to the discussion

Barry, I think you are missing a vital point. The only person you are concerned about in a transaction is yourself. From that prospective everything you say makes sense. Congratulations on your success, it sounds hard won and I have no problems with it. What you are missing is that the Realtor who takes the fiduciary promise we make to the Sellers and Buyers seriously, knows full well what the advantage of being a transaction broker is, and chooses to help protect the Sellers and Buyers from the perils of the transaction anyway.

You might not understand a world where profit isn’t the only motivator. There have been many times when I could have bought a house for what the Seller wanted to list it for and turned right around and sold it for a profit. But I let the seller know that they were under the market and rather than making $50,000 profit for myself I made 3% of that or $1,500.00 for being honest. Maybe it’s crazy but it’s a choice I make freely with my eyes open.

What’s in it for me? I have a steady stream of referrals who beat a path to my door. I don’t prospect, farm, cold call, chase FSBOs or expireds, I don’t even solicit my SOI. I sleep well and don’t have to look over my shoulder. I have never been sued and I like it. It’s about morals for me, nothing else.

Over the years I have had many deals fall apart. I have had reputable mortgage companies go under the day before closing. I have had about 6 buyers or sellers die before closing, people get fired, get cancer, get divorced and even arrested. The buyer who gets arrested really can’t get his mortgage from jail! The trick is to have enough business that you can afford to lose one occasionally and to inform the client what the risks are.

In answer to Rich’s original question, I think the stresses of the current economy do make it much harder to have a smooth transaction. I try to avoid the doom and gloom news reports, and keep a positive attitude. The diplomacy needed to keep people on track is the real skill set we all need to polish to make it through this downturn.

Barry: You really don’t read what I say – even when I cut and paste the relevant points of the conversation out for your review. Let’s try it again

YOU SAID – Bil…let me ask you a question. What “broad sweeping statements” are you referring to? This conversation was posed as an industry wide assessment. So how is speaking in terms of the industry a bad thing.

WHAT I WAS TALKING ABOUT- Was the fact that you make statements in a broad and sweeping manner without factual or empirical data NOT about the scope of the subject

YOU SAID –Secondly, was Rich being restrained when he said above.. “Go take a bath in some ‘positive’ slime and play the video”…was that the restraint you saw?

Yes

YOU SAID – “I don’t presume to be an authority but I do have experience and I’m not a dunce.”

I beg to differ. When a speaker makes a point without backing it up with data, it is inferred that the speaker is speaking with a voice of authority. Otherwise there would be data to back it up or a statement of limitation.

I SAID – “but the rest of us are working in a much larger Universe, and therefore statistically the chances of a problem are greater. In addition, you are the principal in all of those transactions, so you only really dealt with (at most) 400 other principals (discounting partnerships etc)- an even smaller sampling”

YOU RESPONDED – Well what universe would that be and why do you presume to be in another universe. You are in Philadelphia and I am in South Florida…it’s not like I am in Idaho. What makes your “Universe” bigger and more substantial then mine?

MY RESPONSE – The Universe I was speaking about was the Universe of transactions defined by your experience and the Universe defined as the sum total of all transactions facilitated by the real estate agents who are the real estate Industry. Ines (for whom I have a great deal of respect) for example works for a very large company whose transactions alone would constitute a larger Universe then the one you draw your inferences from (your almost 800 experiences as a buyer/seller)

YOU SAID – And you may want to double check your math but it’s not all that important as not much of what you respond with has an substance. The whole bigger Universe thing has thrown me and quite a few who have read this into wondering what in the world was in your coffee this morning.

MY RESPONSE – The only math error I could have made was if the “almost 800 “transactions were “almost 800 properties” In our business, a transaction is either a purchase or a sale, and property has 2 transactions when it is transferred usually. I was merely responding to your language using an industry standard, assuming you were also. Even if not, the premise of your limited experience not reflecting the larger Universe of real estate transactions still stands. And for your information, I had a whole grapefruit, sectioned this morning. I don’t drink coffee.

YOU SAID – C’mon Bill…your statement of “There is a lot you don’t know about the real estate industry because you work in a specific niche, though I am sure that there is a lot you do know about being a consumer and real estate investor”….you’re kididng right? I mean you want to challenge my knowledge of the real estate business…are you SURE you want to enter into that realm? I don’t think you do…matter of fact I know you don’t.

MY RESPONSE – Barry I gave you credit for your experience as an investor and a consumer. You have indicated that you have never walked in the shoes of a real estate agent or broker, so that means to me that you don’t know what their experiences are like. I know that you have never participated in any National real estate organization, so you wouldn’t know what that was like. And the list could go on and on. So yes, I’ll stand by my statement. And as far as challenging your knowledge of the real estate business I didn’t do that, but frankly I wouldn’t be so sure that you know what might concern me. So please don’t assume that you have any clue what I would or would not want to do. Your aggression doesn’t provide any substitute for the experience you don’t have.

YOU SAID – Are you intimating that a week of class and a couple of hundred bucks is a pre-requisite for knowing the business? Wow..that’s one pompous attitude there. I CHOOSE not to be licensed.
I don’t have to be. I get ALL of the benefits of being a licensee without dealing with ANY of the BS.

MY RESPONSE – I neither stated nor intimated that “a week of class and a couple of hundred bucks is a pre-requisite for knowing the business” , Where did that assumption come from? However, your complete disdain for the real estate practitioner is painfully evident. To take a position of unwarranted superiority because you feel that you’re in some manner better then the real estate professionals who comprise much of this community is just plain rude.

YOU SAID – I have read many of your comments and posts and that is probably the single biggest faux pas I have read of yours to think that because I am not licensed that I can’t stand toe-to-toe with any agent, including yourself, in regards to knowledge of the business and transactional management. That’s just one preposterous allegation meant to get a rise out of me but it takes a lot more than that. That statement you made was absurd. However if it makes you and others sleep well at night thinking that their positions are loftier because of the piece of paper on the wall…so be it.

MY RESPONSE – Never said that, And it was not a faux pas (defined as a social blunder) I said earlier, and I reiterate “I am sure that there is a lot you do know about being a consumer and real estate investor.” I am sure that there are many licensees in the country that are less informed then you are, and many that are as informed as you are, and many that are more informed then you are. I see nothing absurd, insulting or preposterous in any of those statements.

In a later response – #51

YOU SAID – Bill…like I said, you’re not adding much to the discussion. Nothing is being painted with the “same brush (by the way do a lot of you guys go to like blog jargon class?)

MY RESPONSE- That was Bob, not me – Like I keep saying, I don’t think you’re reading very carefully. Talk about being painted by the same brush – or maybe we just all look alike? And who gives you the authority to determine who adds what to the conversation?

YOU SAID – (TO BOB) – We buy and we sell and often times sell via agency and list and market and do what it takes to move a property and make sure it closes. This business isn’t brain surgery (obviously)…you assume too much I am, often on both sides of the coin and when the need arises to list and market and sell and do those things we need to do within the realm of a licensee we do. When we don’t we don’t. That simple.

MY RESPONSE – Barry are you indicating in this statement that you practice real estate without a license in the states you do business in?

YOU SAID –(TO BOB) – I didn’t ask for your opinion on what is or is not an agency relationship. We’ve got that handled. That’s why we pay the guys in the suits in the big towers downtown, so we don’t have to take your opinion. Or rely upon blog conjecture.
Thanks anyways.

MY RESPONSE – Tres Arrogant Mon Ami. If you don’t have to respect Bob’s opinion, why should he or anyone else respect yours? (And for clarity – if you read this part) – I think both opinions have the right to be heard and weighed by every reader – so don’t impute any other position to me. And if you don’t think blogs are a good source of information why do you spend so much time participating?

Finally, the phrase would be Thanks Anway (there is no plural)

“I can admit that if you can admit that most agents can’t provide investors with information that they need and that a lot of agents are flat out intimidated by investors becasue they are used to dealing with buyers who don’t know the questions to ask.”

Stipulated. Mortgage originators as well.

Bill here’s the deal…this is a nowhere discussion. You, as I have said before, are a staunch NAR supporter and an Agent defender. I am not debating you. You are steadfast in your beliefs and no way to teach an old dog new tricks. And I don’t have the time and inclination to do so.

The reach that we have with investors and agents who truly want to see another way, not necessarily better in your eyes, but I would rather spend my time working with those who are open to doing things a new way and understand that there is most assuredly a different way.

I will answer one question though…you asked why I comment here. Well you would be amazed how many agents email me and call me about helping them achieve so much more than what is being offered them. They want real world knowledge and are’nt afraid to embrace new ideas.

No…I don’t charge a fee just brainstorming and letting them see that there is another way. In fact…someone from here has contacted me as well who wanted some help.

Another reason is I occasionally see something I like. Mariana’s neighborhood post recently was quite interesting.

I just don’t have the desire to engage with you…and I don’t have the time. And like I said..it’s boring.

Hey Dan..glad to hear it..hope it works out for you! I wish you success. You can be very trustworthy and still be a blatant unashamed capitalist. I too like the ability to make a substantial profit without ever taking advantage of anyone’s misfortune either. I guesss I was somewhat wrong. We are so much alike it’s scary. We run our business in much the same way. We’re in the same universe after all.

Glad we had this moment of clarity!

Please excuse my last post as it doesn’t add to the conversation.

YOU SAID – Bill here’s the deal…this is a nowhere discussion. You, as I have said before, are a staunch NAR supporter and an Agent defender. I am not debating you. You are steadfast in your beliefs and no way to teach an old dog new tricks. And I don’t have the time and inclination to do so.

MY RESPONSE Barry- It’s a nowhere discussion because you refuse to be accountable for any position you take. You keep employing empty rhetoric to fill the page instead of responding to the issues being discussed. For example, there is nothing in the discussion to date regarding NAR, and my position was not taken to defend agents until you started attacking them (I abhor Bullies). I am refusing to allow you to denigrate the people in our industry who work so hard to serve their clients, improve their industry and make a living to support themselves and their families, but I don’t see how that’s cogent. If you hadn’t started attacking them I wouldn’t have needed to defend them You make condescending statements and when you’re asked to support them with facts you go off on a different tangent. I am clear on my position in a discussion (as I think everyone should be) but am always willing to listen to an opposing view when it is made in an articulate and compelling manner and supported with facts. You haven’t done that so far.

As far as learning new tricks, I learn everyday from a variety of people. Jay Thompson, Benn & Lani, Teresa Boardman, Nick Bostic, Rich Jacobson, Matt Rathbun, and Russell Shaw, have all taught me new tricks. So far there has been nothing of substance in your comments for me to learn from, your time and inclinations notwithstanding. That is not to indicate that you don’t have something to teach (I wouldn’t make that comment because I don’t know if you do or not) , just that you have not done so.

YOU SAID – The reach that we have with investors and agents who truly want to see another way, not necessarily better in your eyes, but I would rather spend my time working with those who are open to doing things a new way and understand that there is most assuredly a different way.

MY RESPONSE Another sentence with no content. What is your reach? Another way of doing what? Investing in real estate? And how do you presume to know what is better in my eyes? The sentences don’t make any sense except to make empty boasts about some “secret sauce” that you claim you have. Barry I’m sure you’re very successful as an investor. You’ve certainly said so time and time again, but as you pointed out earlier in the comments. “This isn’t brain surgery”

YOU SAID – I will answer one question though…you asked why I comment here. Well you would be amazed how many agents email me and call me about helping them achieve so much more than what is being offered them. They want real world knowledge and are’nt afraid to embrace new ideas.
No…I don’t charge a fee just brainstorming and letting them see that there is another way. In fact…someone from here has contacted me as well who wanted some help.

MY RESPONSE Believe me Barry I wouldn’t be amazed. Lots of people are looking for “secret sauce”. Thanks to Benn and Lani, and the other Geniuses, this site has a tremendous readership, and if it benefits you to expose yourself here, so be it. That still doesn’t allow you to make sweeping statements with no substance like They want real world knowledge and are’nt afraid to embrace new ideas Don’t you think the rest of us have real world knowledge? What qualifies you to ascertain that any of us are afraid of new ideas? And what new ideas are you talking about that you think might generate some fear in this group? Just throw out some new ideas – show me something of substance – I’ll bet you can’t scare any of us.

YOU SAID – Another reason is I occasionally see something I like. Mariana’s neighborhood post recently was quite interesting.

MY RESPONSE Yeah, I liked that one too. OMG We agreed on something!

YOU SAID – I just don’t have the desire to engage with you…and I don’t have the time. And like I said..it’s boring.

MY RESPONSE Barry so far you really haven’t engaged so nothing changes here- I guess this means that the next time you write a response there still won’t be any answers to my questions-

Barry ; Thanks for the suggestion – I have a great black lab named Cisco – and I play a pretty good game of chess. Seems like Mate 😉

Jay it’s midnight, I have had a long day, have a busy day tomorrow and it’s not worth my time. Certain people feel theri way and I feel mine. The mental tug of war at midnight just isn’t in the cards. If you read above, classy left the building hours ago.

I know you’re out west, but this cowboy’s going to bed out here on the east.

Ciao!

We have title prepared an by Contract require the Buyer to use our title company.

If the buyer is getting a conforming loan, your requirement of buyer to use your title company is a RESPA violation. In other words, that is illegal.

And Bob can safely say, “checkmate”.

Bob you wrote …..”I find that hard to believe.” That’s up you you. That’s totally your choice. Jay…Bob..whoever…Rich is right…life is too short.

You do business how yo see fit, and I will conduct mine in the manner that has worked and continues to work for me. Your minds are set, the choir is seated and it’s not worth responding to. Slap high fives, do some blog fist pounds and cheer amongst yourselves if it makes you happy.

The 30-50 emails I received as a result of this thread and the calls we have received are enough to make me comfortable…that and the confidence we have in the manner in which we do business.

The checks are fun to cash as well.

Barry –

I had a lengthy comment typed, but you know what? It’s not worth the bandwidth.

I’m glad you are successful however you chose to define that. It’s just sad that you have to knock virtually everyone else to show it.

Good luck to you, hope you continue to be successful.

Rich and Bill,

I’m done. My last comment was to demonstrate that the emperor has no clothes. A bully that can’t take a punch.

This entire discussion has been somewhat cathartic. After 19 years in this business, I’m fighting serious burnout. I’m tired of dealing with people that can and will say or do anything to get a deal. My respect for the industry had dropped to levels lower than Bush’s approval ratings. I had gotten to the point where I felt like Barry does about most agents.

Rich’s post was something I could relate to. I have a few blog posts about short sales with more comments from folks “on edge” who have run into tough times than you can imagine. It got to the point that I quit responding a month ago because it was just too depressing.

I suffer from a Don Quixote complex, and when people ask for help, I want to solve the problem. Unlike Barry, i don’t see profit in every situation. I cancelled one deal this week because the seller was able to get an incredible loan mod. My compensation on this deal is knowing that a decorated Marine vet, who’s job is so much more difficult than mine, gets to keep his top secret security clearance and thus his career. A foreclosure or short sale would have put that in jeopardy. Barry’s approach to the same deal would have been catastrophic for the Marine, but profitable for Barry.

This post and others has allowed Barry to serve a useful purpose – to highlight the pros in this business that understand what Barry will never grasp – why many of us do what we do.

The respect I have developed for many here is motivating. It is good to know that while the snakes in this business seem to overshadow at times, as this market has progressed, I have seen more and more of my colleagues come forth who truly do want what is best for the consumer.

That is a good thing, regardless of whether or not it always results in bank deposit.

Okay……..that’s the defining comment. I have been called a snake, taking advantage of other’s people’s misfortune, I see you blaming Bush…downtalking capitalism…hearing rah..rah..from the choir..

Sorry I can’t keep this small talk going..we’re elevating the conversation. On air right now with Kwame Jackson.

A little bit more important.

@Bob; I feel that you, and Benn Edmund Burhe said “All that is necessary for the triumph of evil is that good men do nothing.” I hope that we get the opportunity to meet face to face sometime.
@Jay , Always a pleasure being in the mix with you ! 😉
@Benn 😉

Barry, I didn’t blame Bush. I referenced his approval ratings. FTR, I voted for him – twice. I didn’t bash capitalism either, but I do think it’s important to see the human side of things. Ever see “Pretty Woman” where Edward Lewis, the epitome of capitalism, decides to not gut the company he is acquiring? He still makes money, but not as much and not at the expense of the people who built it.

I also didn’t call you a snake and I apologize if it came across that way. I don’t believe that you are. I was referring to the slithering licensees that abound in our business.

You and I do business where real estate is the product, but that is about the extent of our similarities. I provide a service whereas you are more of a commodities dealer. By definition, our models are apples and oranges. I greatly respect your ability to recognize a deal and see it through to fruition. I listen when you talk about the perspective of a sophisticated investor. Clearly your knowledge and skill in your niche is extensive. However, I take great offense at your one-sided view of what myself and many other agents bring to the table. I think that is in part because it is a different table. You give us little credit for our knowledge, skillsets and experience. Unless it is Russ Shaw, you tend to dismiss out of hand what anyone else has to say.

This post is a perfect example. Rich was commenting on something we deal with all the time. Unlike the bottom line, does it pencil out investor, we deal first hand with the roller coaster emotions and life events of the consumer. I think you miss much of that because by the time you enter the equation, the consumer has already run the gamut of emotions. In my biz, that is the equivalent to being the 3rd agent to list the property – the seller is now more bottom line and emotions no longer come into play.

One last thing. Brad Inman once said that the Internet would spell the end of the agent. That didn’t happen as he expected. The industry adapted. His response – start HomeGain. He sold and made a bundle, then brought forth Inman Connect where IAC’s Barry Diller told us he would put us out of business. That didn’t happen either. Instead, realestate.com became a broker. Their agents now show my listings just like other agents. You think we are dinosaurs oblivious to the oncoming comet. I think you will be proven wrong, as were the others. We are smarter and more resourceful than you give us credit for being. The irony is that your radio show demonstrates that on a daily basis.

Bob the issue is the industry as a whole. I would expect that the participants here would not look at themselves as being representative of what is truly going on.

I have NEVER encountered a group who take things so personally. When i speak as some say in broad sweeping manner, I am talking about the majority. Not the very small minority of stellar performers like yourself, Bill..etc..

I ask you to step outside of your collective boxes. I don’t have to smoke a cigarette to understand what smoking does. The comet will indeed hit and many..many…dinosaurs will become extinct.

That statement applies to those who fall under its categorization. Can you, or anybody else disagree that there is a large chunk of the real estate agent population that will be rendered obsolete.

With the changes happening daily, much faster than Inman and Diller thought possible, is there any doubt that those agents who do not keep abreast of technology will be turned into dust?

I call upon listing after listing..place offer after offer…70% of the time or more, even with different agents calling upon the buyer’s behalf, there is no communication with the agent. They don’t even answer their phone. We had an interview with David Knox, the preeminent real estate trainer and even he remarked how much more business there would be if agents simply answered their phones.

Sure, many agents will survive. I am not calling a full extinction. But a major cleansing. Cal me passsionate but I thought this site and some like it were about helping agents survive the threat of obsolesence.

We get visitors to our site, which is growing in leaps and bounds, who want HARD concrete applicable info on how to be better.

Rich mentioned he had a problem. Did I hit hard..yeah..maybe a bit too hard…but what he described to me was the need for intense transactional management.

People commneted and I could tell from their comments that they have never been trained in guerilla transactional management.

My livelihood is derived from the fact that when I pull the trigger it MUST hit the target. In that vein we have a system that TRULY is bulletproof. When we go to contract IT MUST CLOSE and IT DOES CLOSE and we don’t have transactional management problems.

I asked Rich to explain what those problems were and I can guarantee they most likely would not occur in one of our deals.

As for your Marine analogy, that was a cheap shot, you have no idea how many homeowners we have saved from foreclosure and what we have done to protect them from other sharks.

I have a tough skin, I can easily take the heat from people here, but I don’t want the heat after I leave here so I aspire to do the right thing.

No, all agents don’t suck! I have said it.

I just wish more was done to call out the ones that do..maybe that’s my main issue.

OK, I have the marshmellows – Where’s the Bonfire of the Vanities? Koombaya Koombaya
@Barry – Thank you for a reasoned response and your kind comment – Bob and Russell are stellar and your gentlemanly re-entry to the conversation is a welcome change. Thank you. Now if you have some deals for me to look at let’s do some business! 😉
@Bob- We put – I owe you at least a hot fudge sundae when we meet! 😀
@Benn- You can put the fire hoses away, we’re coming in peacefully!
@Queen of All Social Media How did the cookies come out?

#99

Jay that weasn’t fair at all! 🙂

Jay – You read my mind – I was so tempted to do the 99 and 100, but I thought it would be just silly – But you achieved what I perceived!
That’s what happens when you have friends that are focused on appropriate goals! And why your plan for world domination will succeed! I can’t even imagine the post that will lead to 200 comments
😉

@Bill – it WAS just silly! Not the first, nor the last time I’ll do something just plain silly…

Hey,
Doesn’t anyone remember life back in corporate america where you couldn’t stand your boss, and the office politics were too much to take, you were accountable for things beyond your control, and coworkers were annoying. The randomness and statistical variation says every transaction will not be easy. Besides, some things have to be difficult to provide a weeding out of the thousands of agents out there! (Can you tell I was working on my six sigma green belt?)