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Op/Ed

Isn’t it time to make these Code of Ethics violation reporting theories a reality?

Code of Ethics violation reporting has long lacked transparency, so can this old theory mixed with some new theories improve public perception of Realtors?

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transparency

This editorial was originally featured here in July 2014, yet rings just as true today.

In 2009, Virginia real estate broker, Jim Duncan opined that the level of transparency in the industry could be improved and suggested that in order for the public to trust real estate professionals, perhaps ethics conversations should be held in public, given the public nature of the profession.

Duncan wrote years ago, asking, “How about a badge on local associations’ pages, “no ethics complaints in the past 123 days”? To be credible our system has to be credible.”

He noted, “It is incumbent upon us to discuss our collective ethical successes and shortcomings,” and asks how much transparency is too much.

Fast forward to the Code of Ethics today

In my opinion, the industry has done very little to improve transparency surrounding ethics, and reporting continues to be a burden for all involved. Recently, the California Association of Realtors® issued a report which called for “significantly more robust enforcement of the Code of Ethics.”

The proposal calls for violations to be punished more swiftly, and for unethical behavior to be published and “significant enough to deter future unethical behavior,” as they plan to develop a database all local associations will be required to post disciplinary actions to.

This is a step in the right direction, but more can be done. Why do this at a state level? Why not a national database with standards? Why put some Realtors under the microscope and others out of the public light?

But wait, more can be done!

If not a database, why not continue to improve the reporting process? I’ve long argued against the process being misaligned with the American standards for justice, as most associations do not allow anonymous complaints. But why would they? That would mean a lot more work for the committees and staff, and of course it would lead to some vicious competitors lodging false complaints against each other.

But when I ask a room of Realtors to raise their hands if they’ve witnessed a Code of Ethics violation, hands fly up unanimously. Then, if I ask how many reported the violation, the hands are sparse. When asked why, the answer is consistently twofold – first, it’s too much of a time consuming hassle, and second, the lack of anonymity leaves the do-gooder vulnerable to retribution. Again, how misaligned with our own nation’s justice system can we be? Imagine if you couldn’t call 911 anonymously?!

The Code of Ethics is a valuable asset Realtors have, and a Code that is respectable. But without improvement in the reporting process, the rest is all hot air. Is Duncan’s idea one that should be revisited, or should we change the very structure of reporting?

Lani is the Chief Operating Officer at The Real Daily and sister news outlet, The American Genius, and has been named in the Inman 100 Most Influential Real Estate Leaders several times, co-authored a book, co-founded BASHH and Austin Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

Op/Ed

Enough, is Enough: how much minimalism do you need to succeed?

(EDITORIAL) Nobody starts a business praying for failure and debt. But, if we don’t identify what is enough for us, we can have a hard time pulling ourselves out.

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Enough peace

You’re scrolling on Facebook when you notice your friend’s feed, and the most recent post says, “You are enough.” You may recoil and think to yourself, “blech” what does that even mean? Touchy feely crap. I am “enough.” Ha! I’ll show you enough.

While exploring the concept of being enough may make some folks queasy. Asking the question: How does “enough” translate from our lives to our business? is it relevant and can help us get to our raison d’etre, our sweet spot, our perfect pitch, our business manifesto. And, what is “enough” for us in planning our life and business goals.

Recently, I was watching a British show on Netflix. The gist is an “expert” goes around to businesses to help them update their brands and improve business. In one episode, the host walks into a man’s clothing shop and asks the owner about his wares. He explains in one section he has clothing for the “fat bastards” (I am not making this up – he literally says that), in another section he has styles for the “trendy” kids, in another section, clothes for the businessman.

The owner thinks he’s doing great, but his sales suck, his customer service sucks, and he doesn’t understand why.

From the outside looking in, it seems pretty obvious, the guy is trying to serve everyone and in doing so, he’s doing a crap job of serving anyone. Plus, he was rude and literally didn’t understand that calling customers fat bastards wasn’t good customer service.

From a business point of view, this guy had no concept of what it meant to be “enough” because he was trying to serve too many potential customers and it was a very disjointed effort.

His problem is not unusual. Think about it. Haven’t you gone into a locally owned business to find it selling too many items that make no sense? Kind of a like a gift shop gone wild. You look around and see things you like, but you get confused and leave without making a purchase. Instead, you walk a few doors down to the store that specializes in jeans or shirts or cool shoes and you drop some virtual Benjamins.

In his blog, Paul Jarvis expounds on the idea of being enough. He says, “In order to be more aware of what makes sense for our lives and businesses, we need to be aware of what enough means.”

And, that my friends, depends on who you are. Enough to me may not be enough for you. But, Jarvis explains is that, it can’t be minimalism for Instagram’s sake. Meaning, we aren’t truly living in an enough “state” if we are trying to be what we think others want to see.

Let’s not get caught up in the “yeah, but it’s Paul Jarvis.” Cuz, he also states this isn’t about judging others, because if you ain’t got much, it can seem pretty patronizing for someone to tell you to live with less. And, that isn’t what we’re talking about here.

If we go back to the business concept, consider Apple. The company started off building computers. It veered into phones and watches, but still tied to the idea of smaller versions of its computers. It stayed pretty true to itself. The concept was built around one product. The stores make that product shine. And, we as consumer feel we aren’t enough until we have the newest gadget and gizmo they sell. Brilliant.

For you having the latest gaming system or all the streaming channels may be the thing. For me, I get by with basic cable and Netflix. My enough isn’t yours.

So, if we are being truly cognizant of what we want in our business and lives, we need to understand what enough is for us. Not what is enough based on someone’s feed on Instagram, showing them with the Lambo (rented) and fancy clothes (rented) and fancy location (maxed credit card). We need to consider where we, from a truly authentic space, can live in enough.

Per Jarvis:
“Enough is the antithesis of unchecked growth because growth encourages mindless consumption and enough requires constant questioning and awareness. Enough is when we reach the upper bound of what’s required. Enough revenue means our business is profitable and can support however many employees/freelancers we have, even if it’s just one person. Enough income means we can live our lives with a bit of financial ease, and put something away for later. Enough means our families are fed, have roofs over their heads and their futures are considered. Enough stuff means we have what we need to live our lives without excess.”

One way to think about enough is to sit back and consider what would be your perfect day. If you were doing what you wanted – no holding back – what would your day look like. Imagine it. Are you really shopping and dropping $1k on a pair of shoes? Maybe. Or, are you hanging out with someone you love, doing work the way you want, having some food, walking your dog, doing yoga, CrossFit, etc., enjoying dinner and heading to bed?

If you think about business in the same way, what would your business look like? Would it be like 7-Eleven with Slurpee’s, Slim Jim’s, lottery tickets and birthday cards? Or, would it look more refined? Because, Target and Walmart have a lock on mega shopping experiences. 7-Eleven has a lock on, it’s 4 a.m., I’m wasted and need crap food.

Consider, how does your idea of equilibrium impact the outcome of your business, your work, your idea of success?

Most of us would love to be wealthy and that is our guidepost when it comes to the idea of business success. But, when evaluating it from the perspective of “enough” our viewpoint might change if one considers debt load to profit or unsold, stolen or damaged goods to profit. If you have more debt than cash, are you enough?

“Where things can go awry is when we never consider what enough is as a marker,” Jarvis says. “When this happens, we don’t solve for enough or optimize for it, we just keep going and going with more and more.”

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Op/Ed

Career breaks can close doors, but may open a new window

(EDITORIAL) A job pause can be maddeningly frustrating, but they can also open new opportunities to grow or start anew.

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Career change

What’s worse than stand-still traffic?

The start-stop traffic.

In a standstill, you know where you stand… still. In stop n’ go n’ stop again traffic, you have no clue. You go from 5 to 50 again for all of three feet, then back to 5. Eventually, you don’t even care about getting to your destination anymore, just so long as the tedium ceases.

My jobs went almost exactly the same way.

Retail work, career work. Retail work, career work. Retail work, career work. And each time I had to take a pause, I didn’t have enough time, money, or interest to keep up with the rising trend of ‘content creators’ who can film, edit, script, photograph, edit THOSE, AND do blogs and emails replacing copywriter positions. So I just stayed scrambling until I could ‘relax’ into a career gig that ended shortly for one reason or another.

Even though I left each advertising job under different circumstances, in late 2019, I realized, ‘Okay, maybe it’s ME. Maybe if I’m this frustrated with the traffic, I need to pull off the road.’

The last shift saw me go from copywriter, to house cleaner, to heavy metal head shop gal, to moderating freight brokerage in the span of two months. Hell of a detour…

Of course now that I’m out of full-time work in the field I sold my credit score to break into, the guilt of having left a career I soured on to break into a field I didn’t need to go to college at all for is… crushing. And new beginnings, with wages to match, are hard no matter who you are.

However, this shame and heaviness is all coming from the inside. My parents are proud, my friends are happy for me, and I have yet to hear anyone actively dumping on my decision to purposely exit the salaried copywriting field. And even if everyone sucked about my choice, it wouldn’t change the fact that so far it’s the best one. At some point, you gotta shake yourself by the shoulders, borrow from Mrs. Knowles-Carter, and scream: Suck on my job cause, I’ve had enough.

Why deal with a stigma when you could deal with stigmata, right? Those are way cooler. And I’m pretty done with wounding myself either way.

Multiple small, panicked hiatuses taught me something. Some things. First thing: truly powerful screaming comes from the belly, not the throat. Most relevant thing: I don’t want to write for other people, nor for brands that can’t use some variant of my own voice.

I thought I was a copywriting mimic octopus who could change colors, shapes, and textures to suit an environment, but this whole time I’ve been a chameleon— always keeping my funky fresh shape, and only changing colors to suit how I feel, or to attract mates.

I’m not going to act like career pauses are some great thing in which to discover yourself and do some eat, pray, love BS. I quite literally almost died of a bad infection during a time I was on a pause with no heath insurance. The pauses were financially and mentally draining, and if it weren’t for extreme strokes of good fortune in several places, I wouldn’t be in a position to write this piece.

What I will say is that I was able to bid the misshapen phoenix cycle that I was on a frantic farewell, at least I think so. Anything’s liable to change, such is life.

For now, there is only to bag up the ashes and try to use them in fertilizing my next steps.

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Op/Ed

Surprise: Savings have mostly grown during the pandemic

(OPINION / EDITORIAL) Even in the midst of the COVID pandemic, some portions of the American populace have been able to – paradoxically – bolster their savings.

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Plastic clear piggy bank representing savings.

What I’m about to say will sound strange – for many Americans, the pandemic has proven to be a vehicle for increasing their savings. Perhaps even stranger, a significant portion of this group may even have more discretionary funds to spend during this holiday season.

I’ll repeat that for emphasis – the pandemic has given rise to an improvement in finances for American families, as the overall debt has lowered, spending may remain unchanged, and savings continue to increase.

I’ll quickly add in that this certainly isn’t the case for everyone, and do not want to paint a picture that is entirely rosey – many are still struggling, job growth recently saw its lowest numbers of the year, and others worry that we could be facing down another potential storm of instability. What will follow is not meant to discount or ignore these issues, but to highlight a somewhat puzzling and weirdly hopeful piece of the American landscape.

Bloomberg Wealth reports that trends reflect Americans holding more cash in reserves. This has been the result of a number of factors, such as the government stimulus earlier this year, record-low mortgage rates fueling refinancing to help decrease monthly payments relative to income, and residual inertia from the strong economy prior to the pandemic.

“The consumer here in the U.S. is relatively stable and, honestly, somewhat relatively better than we might have feared back in the height of the pandemic in the second quarter of 2020,” Marianne Lake, JPMorgan Chase & Co.’s chief executive officer for consumer lending, said Nov. 9 at a virtual investor conference .

Many believe that this means the final quarter could see better-than-expected results (though some disagree given current data). Retail confidence is relatively strong in the face of so many potential hardships. Even working class families that bore the brunt of the downturn are shown – on average – to have more money in the bank now, and may in turn spend it to help the economy during the festive months.

One advantage that the current situation affords over the prior 2008 recession is the position that many were in to begin with, giving the average American a better starting point to deal with the downturn. “The consumer came into this crisis in a pretty strong position in terms of household balance sheets and household liquidity and debt service burdens,” JPMorgan’s Lake said.

Pessimistically speaking, part of these savings are the result of an uneasy and volatile future. Lockdowns still loom in the distance, and layoffs dot the horizon in numerous industries (including air travelentertainment, and food service). This in turn causes people to hold onto what they have now, whether it be pre-pandemic savings, unemployment benefits, or side gigs until a sense of economic normalcy can be re-established.

It remains to be seen how 2020 will end in terms of consumer confidence, but several potential options exist that could bring the year to a productive close. For example, there is hope for another government stimulus package, and money in the bank could be tapped to drive sales further. Americans may approach sales with eagerness, guided by the idea of “comfort spending,” and a willingness to console friends and family through retail.

In any case, while the pandemic continues into the wintry months, there are numerous perspectives on how to view the economy and where it may or may not go.

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