Richard Barbee

This is a question to Certified Property Managers.

I am currently pursuing my CCIM. I have greatly enjoyed the CCIM training. I already have the CRS, GRI, and ABR designations for residential real estate.

I am strongly considering pursuing the CPM after I complete the CCIM in 2009.

I would appreciate your feedback on the CPM process and the wisdom of getting it. Has it made you money? Does it help to diversify income streams?

I want to develop the three legs (residential, commercial, and prop mgmt) over the next 3-4 years. I hope to put together a strong team to do all 3.

I would love to get your feedback.

I find that we tend to do one or two things really well while neglecting several other potential sources of business. Maybe we fall into a rut or maybe the workload of multi-marketing seems stressful. The systems that we put into place will determine the long-term success of our businesses.

I have found that face-to-face networking events or groups are very productive. I am a member of BNI and have recently become President of a local chapter. The networking opportunities in this structured organization are numerous. As a commercial broker, I get to meet several small business owners weekly. As a residential broker, I receive referrals directly from other professionals.

I cannot understate the importance of networking. If you do not go to Chamber functions, please start. If you can find a local BNI chapter, please visit / join. If you are into ToastMasters, Rotary, Kiwanis, or whatever, make the most of it and get active. Are you politically minded? Join the local Republican or Democratic or whatever party group. Though we go to church for higher reasons, it can also be a great place to network and get business.

So, here is what I recommend as the best use of your time:

I. Network every day, every week, every month

II. Network more in new places with new people

III. Send follow up cards (handwritten) and an email to everyone you meet

If you will make this practice a discipline in your life, I can assure you that you will make more money.

I have benefitted greatly from training with the CCIM Institute. My work with other commercial Realtors and my readings in the commercial area have made me a better agent. When considering an investment property, CCIMs are trained to complete a 3-way analysis of the potential purchase.

I have started applying this system with home buyers (whether for investment or for residence). This diagram regards an analytical approach to a house purchase.

For residential real estate, I always encourage buyers to remember that the typical homeowner moves every 5 to 7 years. Thus, it makes sense to think of the property purchase as a mid-term investment. We must think Re-Sale Potential and Investment Quality when buying a house. Our organic side wants to buy a home, but I tell clients that we buy houses and make homes.

Nothing that is good for the soul can be bought.

I. Market Feasibility

- We must consider the overall characteristics of the community, city, or even state in which we plan to purchase. We can check the U.S. Census Bureau, the local planning commission, the local chamber of commerce, and more. Since school zones seem to be the biggest predictor of demand for housing, we can certainly target the purchase well within the boundaries of a preferred school zone. Buyers may want to examine demographics, percentage of multi-family dwellings, percentage of rental homes, etc.

II. Location / Site Feasibility

- This is the most important aspect of a property purchase in my view. When considering location, we look at major roads, accessibility, traffic density, red light placement, etc. Also, we take note of the house's position from the road, in the subdivision, in relation to parks/entertainment, etc. The goal is not to eliminate emotion or personal preference. The goal is to avoid a bad decision and (hopefully) maximize re-sale potential.

- On site, we consider the appearance and condition of the house. Obviously, the exterior and interior of the house are major decision points. However, the condition of the neighboring houses is a part of the analysis as well. I think we all know that surrounding properties and land uses can bring down values. In Tennessee, a really nice subdivision can be located adjacent to a trailer park. I tell buyers that we must take a holistic view of each house.

III. Financial Feasibility

- Realtors are not experts on mortgages or financing; however, we can offer some guidance or thought-provoking ideas for our clients. There are several financing options out there. If the property is owned by an investor or an owner with cash, partial owner-financing may be an option at times. But the bigger issue with this pillar of the analysis is to look at profitability, cash flow, and future value.

I hope this helps you in some way. I believe that our ability to analyze properties and negotiate contracts for properties will remain significant Realtor qualities into the future. We offer great value for our clients.

The HolyDay Season is upon us. Yes, I misspelled it on purpose.

Holiday comes from the two-word Holy Day. While normally associated with religious celebration, the word holy can also refer to something special that is set apart from everyday life. Thanksgiving is holy in this sense. Your birthday is holy in this sense.

When most of us wake up on our birthday morning, there is a heightened sense of importance in the hours of this day. It has meaning above and beyond most other days. Christmas is special and holy for several reasons. Whether you are a Christian or not, Christmas tradition is holy in the sense of the value of family, tradition, giving, compassion, and so on.

Robert Byrne wrote, "The purpose of life is a life of purpose." The most meaningful lives are those lived with intention and consideration. I spend time each with with the homeless. I play lincoln logs and hot wheels in the floor with my two boys each night. I smile at and offer a quick head nod to those I pass in the grocery store. I think about the direction of my life.

When business slows down, we have great opportunity to ask more important questions about our own satisfaction, our own journey, our shared experience. Where is your life going at this time?

Before you answer, take note of the feelings associated with this question. Do you have an instant good feeling? Is there an instant discouraged or tired feeling? Do you feel that you are in control of your life and headed in the direction you most want?

We are never too busy to measure and mold our own existence.

Chief Justice Earl Warren wrote, "I always turn to the sports pages first, which record people's accomplishments. The front page has nothing but man's failures."

If we listen to the biased media and read the politically-motivated editors, we set ourselves up for a discouraged mindset. Whether it be conscious or subconscious, negativity seems to be pervasive at this time in our country's history.

I have always believe that we get out of our bodies and minds what we put into our bodies and minds. If we put in essential vitamins, good protein, and adequate sleep, our bodies perform well and remain healty. The same goes with our minds.

Relaxation

The images and words we allow into our minds repetitively have a great influence on our emotions and behaviors. This is a well-researched truth. When you see the picture above, what thoughts and feelings emerge? Does the word bring up certain feelings?

Desperation

Now, look at the second picture. What feeling do you get from that? What thoughts arise from viewing this second picture? Does the word beside the picture bring up certain feelings?

The point is that we must choose what we put into our minds, into our views. We can place deliberately positive words and images into our lives in order to change our thoughts and feelings.

Just try it......