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stan albert

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I've had it! I want to retire and sell my "book of Business!"

01-27-11
stan albert

Over the past 4 decades or so now, I've often heard " I'm too old for this business now, find me some sharp Agent to buy my book of business from my 320 years in the Real Estate business. I ask" "so what do you think it's worth?' The answer is usually " i really don't know," or " I think it's worth a Million !" " Wow! I say." and then the fun begins.

When asked where does the bulk of their business come from, the answer usually is either from Referrals or Advertising or maybe even Open Houses.

There is, for the most part, no accurate records kept to substantiate the asking price. Why? Because most successful Agents I've encountered do not keep great records, never mind good ones!

The referral base after the selling of the business is only as good as the Principal who is selling the business to actively assist the Buying Agent to continue to cultivate the referral base and/or stay on the "team," as an Assistant and appear in all advertising and marketing for an agreed upon period of time.

In a REM * see remonline.com) that I wrote several years ago, I expressed my views more adequately in a 2 part series and had many emails concerning same.

Your comments are appreciated and certainly I can assist in assessing the book of business that you may wish to sell!

Respectfully yours, on this "balmy" 0 degrees here in Toronto Canada

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If one "flies by the seat of one's pants," be prepared for a crash landing!

12-13-10
stan albert

Oscar Wilde once wrote"Experience is the name everyone gives to their mistakes!" Every week or so, many of us in Management get asked what we feel is a question of legality or what is right in the Brokerage business. I always refer the agents when asking about fields of endeavor that they should not be involved with: "what do you think you should be doing?"

There's not a Governing Body in the USA or Canada or Territories that does not mandate that a Registrant should only deal in areas of his expertise and if it is outside of his/her area of knowledge that a he/she should refer it to a registrant who is well versed in same.

The prime example is when we get a call or enquiry about a Commercial/Residential listing, where there's a lease or covenant and when we see the completed Agreement, all Hell breaks loose. Why? Well for starters the Registrant has put in all kind of clauses that the Seller or the Buyer as the case may be, will be unable to complete on closing.

We then get into complaints to the Board or the Governing Bodiy and/or lawsuits~! So, why does this happen?

I can think of several reasons for the errors that are committed:

1.Courses that are given to identify the fields of expertise are never attended

2.The questions as to why the deal falls through or may fall through come to us after the fact

3.Lack of attendance at Sales Semihnars, which are held ad infinatium in both our countries

4.Fear of losing the "client" to someone else with more experience

5. by not being around his/her peers in the offrice or at various Board or non-Board functions that would assist the registarnt

6.By not understanding what their "fiduciary duty/duties are in the first place and only looking at the commission that will be paid.

Perhaps I'm getting too "old in the tooth" for this business by venting like this ,but really and truly I hope my fellow colleagues will agree.

Let me know.

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Management in Real Estate--the Reality vs Fiction!!

12-11-10
stan albert



So, you want to be a Manager eh? Maybe you should think it over twice before jumping into the water~! Allow me to share a bit of my background with you.

I first thought about Management and owning my own Brokerage back in the '70s and found it to be very rewarding and even financially beneficial. As the years rolled on, I decided to sell off my shares in the Brokerage to my partners and pursue a career in supervising and training with the now defunct Frank Real Estate. Travelling nearly every day to the far reaches of Eastern Ontario, became very taxing and extremely difficult, especially in the Winter months.

Still, I longed for the challenge of management and was enticed to come to Toronto where I landed at a C21 office (no longer in business ) for a short period of time. I found that my "home spun" idealism and thinking didn't fit in with the Toronto breed of Brokerages.

I quickly realized that I had to change with the territory and make some inroads as to how to recruit, other than with the multitude of Career Nights that we held. Although they were fun to organize and we made some decent presentations, the end results weren't what we were looking for at all.
After a frustrating year of dong these events, I eventually found my way to the now defunct Safeguard Real Estate through the auspicies of an agent who had worked with me in Bellevillle, Ontario.
What I was introduced to was a very enigmatic Broker, Demetre Ellis, now deceased, who had what I thought, was a phenomenal vision of the future of real estate: large offices with 50-100 agents and several branches. During the 10.5 years we worked together, we hired a total of over 300 Agents. My training skills became more polished and I adapated to a totally different mix of agents. We were a "United Nations!" of Agents, speaking over 20 languages and running the deals totally off the white board that we kept in those long past days. Challenges, yes I had many to cope with, but with help from many of my colleagues,we were able to entice some great people to our non-franchised Independent offices.

During that time, managers were paid a great deal more than what is the norm today, so I really enjoyed my life style. That is until 1989 happpened. Remember the book "Boom, Bust and Echo" tm book that foretold of the bubble that was about to burst? Most of us ignored it and went on our merry way. Bit, the bubble did burst and in a most devastating way for the industry. Eventually, this once successful brokerage failed.

So, if you're thinking that a manager's position is secure, you'd better have another thought.

Going forward... After a few months with two different Brokers, I was being recruited by a large RE/MAX office with two offices and remained there for four years until one of the owners decided to opt for managing as opposed to being a selling/owner. Although the severance was fair, I became disconsolate and depressed as I thought that I had done a good job in both the areas of recruiting and retention. Returning a year or two later as Career Development Officer, we managed to recruit quite a few agents, but I found that management was still what I wanted to do.

As luck would have it, my best friend, Derek Levitt, of RE/MAX Professionals called to see if I was still interested in management and from that time up to the present, I have been actively involved in management, recruitment and training. Yes, I have been fortunate to have been able to do what I love to do, but the the road has not been as secure as you might imagine. It's as secure as your last year of recruiting activity!! Just as you are as good as your last sold listing.

Management is not a 9-5, Mon.-Fri. job. You may be required to come in on weekends as well as respond to calls from agents late at night and while you are on holidays(even thought he front desk has been so advised). But it goes with the territory.

Managers need to know all the rules that govern our industry - backwards and forwards. We must be part fireman, part accountant, part psychiatrist and at times, part priest or rabbi. You must continue to strive every year for knowledge that will help guide your team through not only good times, but in tough times as well.

We are now faced with yet another challenge, that being that Sellers can now place their own listings directly on MLS. As brokers and managers, we strive to inform, educate and guide our teams to success after success, in spite of the roadblocks we currently face. And be prepared at all times to thwart difficult agents and members of the public.

These are difficult times we face, but those who manage with professionalism, integrity and care for others will indeed be around for a long time. Oh, and did I mention patience? An attribute you will need in abundance.

Still want to manage? Better call me or e-mail me first before you leave that $150,000. or more income. But hey, some Broker/owners and Broker/ managers do sell and they are quite successful. It that's what you really want to do, go for it!!

As my window of opportunity to manage/consult/train draws to a close over the next couple of years, I will leave this industry with memories to last the rest of my life and with the hope that, in some small way, I have given the tools to succeed to many of those I have had the privilege to work with.

Ah, so much has changed over the years: teams; technology; Twitter tm; Youtube tm; Facebook tm; etc. I only wish I had been born 30 years ago to see where it will take us and to see where you, my friends, will be.



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I see the possibilities or what happens when you lose your side view mirror?

12-11-10
stan albert

YOU KNOW HOW HARD IT IS TO PASS ANOTHER CAR WITHOUT A RIGHT HAND MIRRIOR? LET ME TELL YOU, IN CASE YOU HAVE NEVER LOST ONE~! IT IS A CRAZY FEELING. IT IS DECEMER 2010 REM ARTICLE

“I SEE THE POSSIBILITIES!” OR “WHAT HAPPENS WHEN YOU LOSE YOUR SIDE VIEW MIRROR?”

“I WAS ABLE TO SEE WHAT I WANTED TO DO, I COULD SEE THE OPOORTUNITY EVEN WHEN OTHERS COULD NOT, AND I STAYED COMMITTED TO DOING IT AND DOING IT WELL, NO MATTER WHAT”*MAGIC JOHNSON, ALL STAR NBA PLAYER

LATE LAST MONTH, AFTER GOING THROUGH THE PETROCAN ™ CAR WASH, I ENTERED THE 407 TOLL ROAD THAT I SOMETIMES TAKE TO THE OFFICE WHEN IN A HURRY. A FRACTION OF A MINUTE LATER I HEAR A THUD. LOOKIHG AROUND QUICKLY, I DISCOVERED MY RIGHT HAND ONE OF EXTREME ANXIETY WHEN YOU CANNOT VIEW THE VEHICLE IN THE LANE YOU JUST PASSED, OR WHAT IS COMING UP FROM BEHIND YOU ON THAT RIGHT HAND SIDE.

HOW LONG I WONDER, HAVE THE RIGHT HAND MIRRORS BEEN ARO UND? ASKING AT TH E OFFICE, NOBODY COULD TELL ME AND FOR THE LIFE OF ME, I COULD NEVER REMEMBER EVER DRIVING WITHOUT ONE - NOTE I HAVE BEEN DIRIVING SINCE I WAS 16!

I SUFFERED THROUGH THE NEXT FEW DAYS WITHOUT ONE, UNTIL MY DEALER CAME UP WITH A USED ONE. I WAS TRULY GREATFUL TO HAVE IT BACK SO THAT I COULD DRIVE SAFELY.AGAIN.

DURING THE FEW DAYS THAT I WAS INCONVENIENCED, I STARTED TO THINK ABOUT WHAT WAS IN OUR “REAR VIEW MIRRORS”? WHAT WAS IN THE PHOTOGRAPH OF OUR MINDS? MANY THOUGHTS RACED THROUGH MY MIND FOR THE NEXT FEW DAYS BEING WITHOUT MY REAR VIEW MIRROR.

MY THINKING EVOLVED TO THIS MANTRA: WHAT DID WE DO THIS PAST YEAR? ARE WE ABOUT TO REPEAT THE SAME THIS YEAR COMING? CAN WE IMPROVE ON WHAT WE DID? WOULD WE BE ABLE TOSAY “I GAVE BACK TO MY COMMUNITY”? DID I HELP MY FELLOW COLLEAGUE IN TIME OF NEEED? DID I DEVOTE MYSELF TO MY FAMILY WHEN THEY NEEDED ME MOST?

THESE ARE ALL TANGIBLE AND VALID QUESTIONS THAT ONLY YOU, MY DEAR READERS CAN ANSWER.

SO, WHEN WE COME TO THE END OF THIS YEAR, 2010 ARE YOU ABLETO SEE IN YOUR PERSONAL “SIDE VIEW MIRROR.” AND SEE SOME POSSIBILITIES FOR 2011?

ARE YOU GOING TO MAKE THAT EXTRA EFFORT TO ENSURE YOU COMPLETE EACH AND EVERY DETAIL SO THAT YOU’RE CLIENT AND YOUR BROKERAGE IS WELL SERVED?

BY JUST MAKING A LITTLE EXTRA EFFORT TO ACHIEVE YOUR GOALS/BUSINESS PLAN, WILL YOU MAKE A DIFFERENCE IN YOUR LIFE AND YOUR LIFESTYLE? OR ARE YOU JUST GOING TO LOOK IN THAT REAR VIEW MIRROR NEXT YEAR AND WATCH THE “I WISH I DID, I WISH I COULD HAVE AND//OR WILL I MAKE A DIFFERENCE IN SOMEONE’S LIFE BY DOING A BETTER JOB?

TAKE A MOMENT IN THIS MONTH TO REFLECT, TO REVIEW AND TO THINK ABOUT THE MANY WONDERUL OPPORTUNITIES AVAILABLE TO YOU TO HELP YOU TO SUCCEED.

YES, I SEE THE POSSIBILITIES IN THE FUTURE OF OUR REAL ESTATE BUSINESS AS A GROWING, ENERGIZING AND TRULY AMAZING PROFESSION.

OUR BUSINESS HAS INDEED EVOLVED FROM THE STEREOTYPICAL VISION OF THE BACK SLAPPING, AND “PUSHY” SALESPERSON THAT WE WERE PERCEIVED TO BE IN THE PAST.

TODAY, THE MODERN AND UP-TO-THE-MINUTE AGENT HAS ALL THE TOOLS NECESSARY TO BE TRULY ON TOP OF THE LATEST TECHNOLOGY AT HAND. THE AGENT OF THE FUTURE WILL BE BETTER EQUIPED AND MORE SKILLED AS MORE AND MORE BROKERAGES SEGUAY INTO PROVIDING THE EDUCATON AND TEACHING OF SKILLS THAT ARE NECESSASRY TO COMPETE IN THE CHANGING WORLD. THOSE THAT DO NOT CHOOSE TO BE UP-TO-DATE WILL NOT BE AS SUCCESSFUL AS THOSE WHO DO. SO, AGAIN, IS YOUR REAR VIEW MIRROR GOING TO BRING BACK MEMORIES OF DAYS GONE PAST WITHOUT YOUR DOING WHAT YOU HAD HOPED TO ACHIEVE?

I LEAVE YOU WITH THIS QUOTE FROM ONE OF THE BEST TRAINERS IN THE INDUSTRY:

“A CLEAR VISON, BACKED BY DEFINITE PLANS, GIVES YOU A TREMENDOUS FEELING OF CONFIDENCE AND PERSONAL POWER”*BRIAN TRACEY

I AM GRATEFUL TO JIM ADAIR FOR PUBLISHING MY MANY ARTICLES OVER THE PAST SEVERAL YEARS AND I AM HONORED TO BE ONE OF THE MANY VOLUNTARY CONTRIBUTORS TO THIS AMAZING PAPER.

MAY I WISH YOU AND YOUR FAMILIES THE VERY BEST OF 2011 AND MAY THE COMING YEAR BRING YOU ONLY GOOD HEALTH, HAPPINESS AND PROSPERITY!

PS SORRY THIS IS IN CAPS. MY KEYBOARD HAS GREMLINS!

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Community and all that jazz!

10-03-10
stan albert

So, today, again, for the 12th time, I participated in the Annuel Run for the Cure here in Vaughan~ Although in the past, my wife Audrey and I participated in the Run in downtown Toronto. But the parking is so bad, that I decided to do the 5km walk in Vaughan. Well, actually did only 1 km s it was too cold for this guy with a knee replacement and a weak bladder! As most of you are aware, the "Run for The Cure," is an annual event with the major sponsor here in Canada being the Canadian Bank of Commerce.

My wife, Audrey,is a TWICE Survivor and we are both, of course, so happy that she's come through.

It was great to see our team of about 18 out , including our mascot Naughty. Not sure how much we raised towards the Canadian Breast Cancer Fund, but will keep you all posted in next Blog~~!

It's always interesting to me to see people of all sizes, cultures and even littel kids, participating in the event.

Most of us run for those who we've lost to the dreaded disease. My dedication was to my late son Jeff and to my late brother Norman, both who we have lost to Cancer in the last two years.

I've been a strong believer in giving back to Community whether it's this event or the Childrens' Miracle Network (CMN ).

So, if you have similar events in your area, get involved. It gladdens the heart and makes one feel wonderful!

Sorry for not posting a regualr Blog recently, but I've been so busy with the new merger of a similar sized RE/MAX Franchise, that I've been neglecting this meaningful endeavor.

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