Bryan Knight

I'm sitting here watching Larry King Live and he's interviewing UAW workers and a local chapter president. Here's what's bugging me about the whole big 3 bailout.

The main reason that I came to Keller Williams Realty is that it is the only major brokerage that actually teaches you how to be a great business owner and not just a great salesperson. Keller Williams Realtywas built in the mid to late 80's in very hard economic times and has grow the be the fourth largest (unofficially the 3rd largest) real estate company in the nation. They teach you how to run a successful business in the hardest of economic times. I just listened to Gary Keller (owner of Keller Williams Realty) speak here a couple of weeks ago and he stressed that when times are tough you MUST cut expenses. You have to get ride of everything that is not absolutely vital for the running of your business. Throw out EVERYTHING INCLUDING the kitchen sink if need be to keep your business profitable. This is one of the main reasons that Keller Williams Realty International is running with absolutly ZERO DEBIT and Realogy (umbrella company of Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty®.) is operating with over 600 MILLION DOLLARS OF DEBIT!!!!! Why is that????? It's because of a foundational difference in understanding how to run a business. You have to be position to handle tough times at all times. Keller Williams understands and teaches that both to it's franchise owners and it's agents. Realogy obviously does not.

Back to the big 3. It is obvious that none of the big 3 have followed the foundational rules of cutting every expense that isn't absolutely necessary. There is still some fat to cut both on the corporate level and the union (UAW) level. Larry King asked the UAW president if his local union has given any concessions to help out and he dodgedthe question stating that "we've done everything production wise that has been asked of us". Basically saying they union worker have hit their production goals so it's not on them that their contracts are helping drive the companies out of business. How can the employees of a company that is FAILING BIG TIME sit with their arms folded and basically say that "we're not taking any pay cuts" to help the employer out and not realize that the whole operation will go down the toilet.

And yes it is first and foremost the employers fault for running such a shabby operation in the first place and getting everyone into this situation. Why can the 3rd or 4thlargest real estate company operate with zero debt and the other big real estate choose not to? Why are the big 3 in this shape? Why did they come asking for even more money and not have a detailed plan on how they would use it? I mean come on, if I as a small business owner wanted to borrow money, I have to have all of my "ducks in a row", have a complete business plan and have detailed numbers one where the money will go and how money will be generated to pay the loan back. It's basic business 101.

I hate hearing the "TOO BIG TO FAIL" talk being thrown around. Does this mean I can build a huge company that employs tons of people and then not worry about properly running and managing it because if I mess it up I'll be bailed out because "I'M TOO BIG TO FAIL!!!!" Yeah right, I don't think so.

I won't take sides on if they should give them money or not. If it was me I wouldn't. If they fall yes it would severely shake up the economy, but like a forest fire that devastates the forest, it also sets the stage for newer, younger, stronger competition to raise up out of the ashes to continue on with bigger and better ways of doing business. The big 3 are dinosaurs. Maybe it's time for something new.

Bryan Knight, in Las Vegas, NV

Follow me at www.twitter.com/KnightREO

The Knight Group Serving My Clients Like I Served My Country Current Las Vegas, NV Inventory Update As of: NOVEMBER 23rd, 2008 SFR Inventory: 17,162 Condo/Townhome Inventory: 4,653 Total Inventory: 21,815 Total Pending: 29.2% 6,374 Total Under Contract Last 30 Days: 15.3% 3,330 Total Vacant: 13,337 Total % Vacant: 61% Total Months of Inventory: 6.6 Short Sale Inventory 31.2% 6,802 Forclousure Inventory 33.5% 7,298

Total Vacant percentage is still rising. Two weeks ago it was at 60% not 61%. Last year it was at 45%.

Bryan Knight, REO Specialist in Las Vegas, NV 702-845-8435

Follow me at www.twitter.com/KnightREO

The Knight Group Serving My Clients Like I Served My Country Current Las Vegas, NV Inventory Update As of: NOVEMBER 23rd, 2008 SFR Inventory: 17,162 Condo/Townhome Inventory: 4,653 Total Inventory: 21,815 Total Pending: 29.2% 6,374 Total Under Contract Last 30 Days: 15.3% 3,330 Total Vacant: 13,337 Total % Vacant: 61% Total Months of Inventory: 6.6 Short Sale Inventory 31.2% 6,802 Forclousure Inventory 33.5% 7,298

Total Vacant percentage is still rising. Two weeks ago it was at 60% not 61%. Last year it was at 45%.

Bryan Knight, REO Specialist in Las Vegas, NV 702-845-8435

Follow me at www.twitter.com/KnightREO

The Knight Group Serving My Clients Like I Served My Country Current Las Vegas, NV Inventory Update As of: NOVEMBER 23rd, 2008 SFR Inventory: 17,162 Condo/Townhome Inventory: 4,653 Total Inventory: 21,815 Total Pending: 29.2% 6,374 Total Under Contract Last 30 Days: 15.3% 3,330 Total Vacant: 13,337 Total % Vacant: 61% Total Months of Inventory: 6.6 Short Sale Inventory 31.2% 6,802 Forclousure Inventory 33.5% 7,298

Total Vacant percentage is still rising. Two weeks ago it was at 60% not 61%. Last year it was at 45%.

Bryan Knight, REO Specialist in Las Vegas, NV 702-845-8435

Follow me at www.twitter.com/KnightREO

So being an REO agent that sells properties directly from and for the banks, it is amazing me that tons of people are not jumping in and buying up all of these great deals that I see coming across my desk on a daily basis!!!! I can't believe that people are still sitting on the sidelines waiting................for what I don't know. This is called a buyer's market...............so BUY!!! It's not called a waiter's market.....or a wait and see market......or a sit on the fence market. Think about it. You never want to do what the "herd" is doing. Right now the "herd" is all sitting on the fence, listening to the media and being scared to buy. I'm seeing the truly savvy investors back in the market snapping up properties left and right. Why do the masses wait until it's too late to get in and the best deals to get back into the market with the rest of the masses!!! Right now there's very little competition on the properties, but you'll wait until everybody wants to buy real estate again before you feel "comfortable" enough to jump back in the market and by again. Then those very same people are competing with you and bidding up the prices!!!

Millionaire make their money by going against what the masses do. When the media says don't buy.......BUY. When the media is saying it's time to buy.........that's went you DON'T want to buy because EVERYBODY is going to be trying to buy!!!! That's when you want to sell!!!!

This isn't rocket science. If you're interested in picking up some great deals in Las Vegas real estate or real estate anywhere around the country (we have a network or real estate professionals all across the country that we can connect you with) then give us a call at 1-800-977-0959

Bryan Knight, REO investment specialist in Las Vegas, NV 702-845-8435

Follow me at www.twitter.com/KnightREO