Who Doesn’t Get It Now?


"For Rent"

As long as I have been a REALTOR® there always seems to be the sentiment that one side or another just “doesn’t get it”. It teetered between the buyer, the seller and the agent who had no clue what realistic expectations of what ever the current market conditions may be. Who doesn’t get it now: The Renters.

It Really Is Not A Good Time To Be A Renter

Inventory is low driving rental prices up. The typical renters are competing for a smaller amount of inventory with people who would have been home owners but cannot or choose not to buy right now. Many of those that used to be strong buyers such as  first timers, relocation clients and down sizers are just a few examples where many are choosing rental options for the present time.

A Renter Is Not  A Distressed Property Owner’s Savior

More and more I am receiving  inquiries about renting properties listed for sale, especially the short sales. With a few exceptions renting does not resolve anything for the typically home seller. There are many reasons why including:

  • A seller cannot move on and purchase a new home without getting rid of their current mortgage and the equity out if there is any.
  • Many owners are not in the financial position to rent. Unless there is equity in the property, market rate rents are not going to cover mortgage, insurance and taxes.
  • If an owner is attempting to do a short sale that means that for what ever their situation is(i.e relocation, heath, divorce, job loss) they are not in the position to hold the property and the property is not worth what they owe on it.
The Winner In This Market
The current real estate market is working for true rental property owners not homeowners in distress. The real estate market has seen declining home values and ownership. When one side goes down another goes up. It is the rental market right now that is at a premium. It is not unusual to have several applications in on a rental listing and some going for more than the listed price. Just as it was a few years back for sellers, it is a landlords market now.

Look For What Is Listed For Rent Not What Is Not

If a seller has the desire to be a landlord as well as the financial wherewithal they would have listed it for both sale and rent. 

The Serengeti Revisted

Towards the end of 2010, Stephan Swanepoel sent me a copy of his latest book, Surviving Your Serengeti: 7 Skills to Master Business and Life. I had come to know Stefan through as the featured speaker at industry conferences and his Trends Reports. With the creation of the social media platforms Twitter and Facebook, this relationship grew. It is was no longer me sitting in the crowd while Stefan so eloquently talked about my the real estate industry once a year. We had established an ongoing conversation.

Surviving Your Serengeti was Stefan’s first book that was not real estate specific. It was about struggles and survival strategies in today’s world. Its wisdom arrived for me at the perfect time when I was in a period of transition. The other day I ended up with an hour block of unexpected time between showings. I had taken care of my to do list for the day before leaving the office. Glancing at all the apps on my iPad, I decided to tap on Kindle and ended up going back to the Serengeti.

As I read this fable nine months later my perspective is slightly different. This has been a most challenging time for family, friends clients and other professionals. I have been watching the journeys of so many as they have been starting over, recreating and generating success. So many people I know have reminded me of the cycle of the Serengeti including myself.

I have to wonder if I took the test today, what animal would be? 

Cheesecake and a #FF Thank You(A Twitter Tale)

On Friday, July 1st my #FollowFriday tweet was “Best Chicago Food”. I had no agenda with the choices I included except they are all really at the top of my favorite food list.

Last week a cheesecake was delivered to my office. There was a handwritten note from Marc Schulman, the president of Eli’s Cheesecake thanking me for including them. It just illustrated to me people do read what you post. Be sincere, be honest, be thoughtful and you will get the same in return.

On a side note, the great steakhouse that started this incredible cheesecake company holds special memories for me. I remember as a child going to  Eli’s the Place for Steak  for special dinners and being dazzled by all the attention we received. I was introduced to Eli Schulman through the hostess of our dinners there and remember how gracious and kind he was. These qualities were obviously passed on from father to son.

Rent vs. Own in the Social Media World (Or the New Mobile Home)

As a real estate professional that question comes up often especially in today’s market. With the introduction this past week of Google+, I realized that conversation is no different in the virtual world.

When I started in the real estate industry in 1999, it was the early days of websites. Most agents were just depending on what their company’s. I decided I needed one. My instincts told me I should be in control of my product, my message, my platform. Over time, as different types of websites were popping up I registered, posted my profile and started blogging. Then I realized I needed to own that as well and started created a Blogger blog linking it back to my website. In the fall it will be 2 years since I dumped my expensive static website and separate blog and went WordPress.

As social networks have grown over the last few years, many people inside and outside my industry have made it appear that it is all about Facebook. Twitter for some, but many people still cannot wrap themselves how the conversation on Twitter works or that it is a conversation.

My instinct throughout all the rapid growth of the medium is I need to have a platform that I control. If I don’t own it, I have no control over it. I don’t want to be a renter. I can take my brand and post it anywhere but I cannot take a Facebook page that some people have invested so much time(and for some money) in and move it to Google+ or whatever comes down the line.

If you search this site, you may notice I have not posted in a while after being an active blogger. I lost my focus on this marketing/branding tool as I get busy listing and selling. The massive explosion over the last few days was a wake up call for me to go back and work on what I already know. So by the second anniversary of my WordPress blog, the plan is to have it where it needs to be.

If you haven’t figured it out by now, social networking will be changing faster than you can say “Follow me on my Facebook Business Page”. At the very least, most may still be around but in order to continue growing your network and brand you will need to be able to go from site to site. Just like everything else these days it is all about the ability to be mobile, even virtually.

Everyone’s home is a work in progress. It is not on Facebook, Twitter or Google. In the virtual world it needs to be a mobile home. You need a great base that you can take out on the road down what ever the current paths are.

Surviving My Serengeti: My Personal Journey

Shortly before I was leaving on a vacation to spend time with my family in December, I received an advanced copy of a new book by Stefan Swanepoel. I had come to know Stefan when he was the featured guest speaker at REALTOR® leadership conferences. I looked to his annual Trends Reports for how I should be trending. The relationship grew as a result of ongoing communication through social networking. I packed the book away thinking I would have some vacation reading.

As the departure date for my vacation was approaching I had much anxiety about leaving. After spending the last eighteen months re-establishing myself as a selling agent after managing for a few years, my business was back on the sales track but something appeared to becoming to fruition that could derail me. The rumors about the brokerage company I had been affiliated with that had been stirring for the last few months seemed to be coming true. Long waits for commission checks, many bouncing, talk of fraud and escrow violations. I knew I had to disassociate from them but where do I go? Would my clients follow? Would my groove get disrupted? How did this happen? I never imagined that I would have ended up being associated with people like that. The company was a well respected brand internationally now tarnished locally. I had to make an immediate move.

Choosing a brokerage in this economic environment was difficult. So many of the brokerages, including the big brand franchises are under funded and over leveraged. They took on too much debt acquiring companies, expanding and/or are under capitalized. There are also several firms where the companies and their principals are facing a variety of lawsuits which if they lose, will impact the firms financially leading to necessary restructuring or sale. I wanted stability in an unstable atmosphere. I just wanted to focus on listing and selling and not be concerned about if the company had the wherewithal to withstand the next few years of turbulence.

On the only day it was warm enough while I was in South Florida to sit by the pool, I took the book out of my suitcase and settled in poolside. Being that I know Stefan Swanepoel as a leading expert in the Real Estate industry, I was not sure what my expectations were as a starting reading this fable, just as the visitors to the Serengeti did not know either. Then as I read further the light went on. It was about the ongoing journey and surviving.

Surviving Your Serengeti: Seven Skills to Master Business and Life is a quick but captivating read. The story of this American couple and their journey through the Serengeti of Africa gave me perspective. I was at a point where I needed to step out of the place I was in and look at myself and my surroundings. What do I need to do to survive? In my case it was what did I need to do to move myself and my business forward? The fable gave me the vantage point to determine what I needed to do for myself to survive and succeed in the world I am in.

What Animal Am I? Each of the animals in the Serengeti possess characteristics that we find in people. Different ones come across differently in each of us. Some are stronger. I won’t use the word weaker for the other end. I choose less dominate. So now it was time for me to take the test. I am the enterprising crocodile. It is a great reminder of why I have achieved success as a REALTOR® as well as other paths I had previously gone down professionally.

I wish to share this story with all. It is not about real estate sales skills. It is about business skills. It is an ongoing process to use the characteristics and instincts that we possess and adapt. Not just survive but prevail.

It has been about six weeks since I first read Surviving Your Serengeti and four weeks that I have been at Coldwell Banker. Exclusively of cleaning up some loose ends with my former company and waiting for the new office to be up and running, it has all been good and even some days great.

I thank you, Stefan for allowing me the privilege to preview the book. It was a gift of guidance that arrived just at the right moment for me to figure out where my journey needed to take me.

My Who’s Who List for 2010: Twitter/Facebook > IRL

With all the lists being published for I felt the need to create my own. This is a list of people who I became acquainted with through Twitter and Facebook and had the opportunity to meet in real life this year:

Revised 12/27/2010 – I had a great afternoon today with:

Janie Coffey @JanieC and Jorge Fernandez @MiamiJorge

(This list is in no particular order and I apologize if I forgot someone)

Mark Jeffers @mjeffers99

Chris Smith @TechSavvyAgent

Darin Persinger @darinpersinger

Sara Bonert @sbonert

Luke Krzysztofiak @AgentLuke

Rich Rogala @RichIdeas

Tony Lazzari @TonyLazz

Todd Carpenter @tcar

Nicole Yeary @NicoleYeary

Tim McDonald @tamcdonald

Alex Lange @Alexander_Lange

Ginger Wilcox @GingerW

Daniel Rothamel @RealEstateZebra

Kelly Koehler @housechick

Kathleen Herron @sarasotadream

I look forward to a much longer list in 2011!

Yes Charlie Brown, There is a Real Estate Market

A while back I opted to stop rehashing the monthly housing numbers. They are what they are and everyone  else is writing commentary on them.  What this is about is understanding there is a housing marketing. People are buying and selling homes.

Get That Look of Pity Off Your Face

It seems whenever I run into  people I know lately they approach me with this very sad face and assume I am unemployed based on what is being communicated about housing values. Smile People. The fact that most are either not understanding or missing is that just because home values decline does not mean sales are not happening. Yes, there are fewer transactions than in the heyday of the mid-decade and yes the real estate market is being effected by the economy and distressed properties.

If you are going to pay attention to the story get the whole story. The story is the perfect storm of a troubled economy where housing values combined with lending issues that have created a distressed property market that we have never seen before. Just because values are down does not mean that homes are not selling. As in any market it is the partnering of price, timing and a qualified buyer.

With that being said I want to let  you know I am gainfully employed working as a REALTOR® as well so many others. As a professional, it is my job to facilitate the negotiations bringing the buyers and the sellers to the closing table and I am doing it.

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