Nashville, TN

You're gonna call me crazy (Maybe).

Yesterday, I committed to start wearing a name-tag.

Yep!

I was teaching our 443 class, and I tricked myself into making that commitment.

Here's what happened:

We were talking about working with "Haven't mets", and I was waxing poetic about the importance of introducing yourself to everyone you meet and being certain that they know you are THE REALTOR of choice in your market.

We also discussed the importance of asking for each person's business card BEFORE offering yours and how that would increase your odds of actually capturing enough information from them to be able to follow up with them later.

Where I "Goofed" was when I asked the group what scripts they would use? . . .

How would they "engage" strangers without feeling awkward? . . .

How would they shift the conversation to real estate? . . .

and then to setting an appointment, asking for referrals, and gaining permission for future follow-up to build relationship?

There was obvious discomfort in the room, so I asked:

"What's the matter?"

AHA!

Discomfort with the very first step . . . Approaching the strangers . . .

So I went into the spiel about how that needs to get right out of their heads if they really DO want to achieve the level of success they SAY they want to achieve. We need to live with this discomfort and just DO IT.

Then I had the thought . . . Teaching my daughter to ride a bicycle wasn't as simple as buying her a 2 wheel bicycle and putting her on it . . . We provided Training Wheels initially so she could find her balance . . .

What could we use as training wheels when it comes to approaching strangers?

THE NAME-TAG!

I mentioned it, and it seemed as if all of the air left the room.

There was a noticeable shift in energy towards more discomfort.

OK OK . . . So back to the script about being willing to do whatever it takes to meet your goals.

After all when you wear a name-tag, every stranger you meet knows your name AND that you are a REALTOR.

In a coaching appointment a few days ago, the agent had told me how he had gotten 2 great leads the day before because of his name-tag.

Most People LOVE to talk about real estate and will go out of their way to talk to you if you announce yourself as a REALTOR.

I put up a great argument for wearing a name-tag . . . and challenged the group to consider the truth that not wearing a name is limiting their potential.

One of the members of the class got a big smile on his face and popped the dreaded question:

"Barry, Why don't YOU wear a name-tag?"

OUCH!

I don't know what came over me . . . I responded immediately that I would buy one and start wearing it as long as everyone in the room would also commit to doing the same.

We sealed the deal with handshakes all around.

I can't wait for the name-tags to come in, so we can start telling and hearing stories about random successes as a result of wearing them.

Some of the simple keys of success are:

Don't be too proud to stick your neck out there.

Be willing to do whatever it takes.

If you aren't feeling some level of discomfort, you're not growing.

How can you succeed if your don't put yourself out there in Opportunity's way?

ALWAYS remember that EVERYONE out there is a potential prospect looking for a great REALTOR.

This is an equal opportunity, unequal reward business environment (Gary Keller)

Defending mediocrity is EXHAUSTING (and stupid)!

If you're not currently wearing a name-tag, are you ready to commit to a new level of commitment to your Haven't met lead generation strategy?

and finally . . . If you're gonna do, grab a few non-name-tag-wearin' folks around the office and drag THEM into the "game" for accountability.

Have a contest!

Whoever gets the most name-tag leads this week wins the pot . . . The one who loses will have to wear the the t-shirt with "I AM A REALTOR" in bold letters on the front and back.

I'm just sayin'

Best,

b

The Owen Group – http://www.theowengroup.net

Barry Owen’s Internet Portal to all blogsites, websites, and social networks

Barry Owen
Principal Real Estate Broker

Keller Williams Realty

30 Burton Hills Blvd
Nashville, TN – Green Hills
615-568-2123

Simply & BOLDLY Living the FourFold Way in Open Space!

Quintessentially connected to the real estate industry to offer the ultimate experience for Home Buyers and Sellers in Middle Tennessee . . . Inquire within!

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:)
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There's really not been a better time for home buyers to buy houses than NOW!

It's true . . .

Rates have held at historically low levels for a LONG time and are poised to begin creeping UP.

Once rates climb, they may never return to this sub-6% range . . . EVER!

The Window of opportunity is closing (End of November) for the $8,000 Tax Credit offered by the Federal Reserve, and it has gotten EASIER to take advantage of with some recent tweaking of the rules.

Inventory of available homes is HIGH and offers MANY great choices for Buyers.

Short Sales and Foreclosures (REOS) continue to flow into the market offering LOTS of chances to buy more house for less money in virtually EVERY price point and neighborhood.

Heck! Most buyers could stay on their own street and buy a larger house for less money than they currently owe (I talked to a lady considering selling her $500,000 house and buying the house across the street with the same floor plan and more up-grades for $300,000).

Why hasn't the $300,000 house sold yet?

Home Buyer FEAR!

House values are now at palatable levels - when they turn the corner, they will likely climb quickly.

We're all looking and watching and wondering when all of this will reach a boiling point . . . at which time we will likely experience a long period of INFLATION. When EVERYTHING in your world becomes more expensive, the affordability of buying a home will decline.

Home buying affordability and appeal is at a virtual all time high . . . NOW!

If you're a Buyer and you have decided to "Wait til things get better" . . . You're putting yourself in harms way.

So why aren't the Buyers BUYING?

Are they STUPID?

Nah!

They're not stupid at all . . . CONFUSED?

YES!

The media continues to be VERY busy singing doom and gloom. Between the daily stories of increases in foreclosures and job losses, I'm somewhat surprised that most Americans haven't become hermits and hid in their caves til a safer day.

The truth is that there ARE lots of foreclosures and many jobs being lost in many areas of the country . . . Our challenge as Real Estate Professionals is to know these REAL statistics for our OWN LOCAL MARKETS, so we can responsibly EDUCATE our Sphere of Influence and give them a proper perspective.

Get their eyes off the National Economic melee and bring the focus in on the health and well being of your local market.

Here's a short list of reasons I've heard recently from real Buyers for not buying NOW!

I'd love to hear more from you . . .

"My Dad (who lives in a different State) tells me the economy is too bad to be buying ANYTHING . . . much less a HOUSE . . . Says I'm CRAZY to even consider buying a home in this market."

"My boyfriend (NOT a REALTOR) tells me that I should expect to get any house in the market for at LEAST 25% off the listing price."

"I hear it's IMPOSSIBLE to get a loan these days."

"I hear my REALTOR friend always complaining that she cannot hold deals together because the appraisers are botching them all."

"The news says that home values are falling, so I don't think it's a smart investment."

"The rates have been low for a LONG time, I don't really believe they'll go up."

Hey folks: Here's my bottom line - FINALLY!

TURN OFF THE TV!

BUYERS: LISTEN TO YOUR LOCAL REAL ESTATE PROFESSIONAL!

and quit thinking about homes as if they are commodities or "investments" to flip for profit . . .

Go out and BUY a HOME . . . and LIVE in it and ENJOY it for a minimum of 5 years . . . Everything'll be alright!

Hey all you REALTORS out there . . . QUIT WHINING!

Any time you gripe and complain about how tough things have been for you to get deals to the closing table, you are reinforcing your "Public's" inclination not to participate.

Wake up each morning and decide to tell everyone you encounter something GOOD - EVERY DAY!

Walk around and ask other people what their "Somethin' Good" is today.

My something good today is:

Today is the 1st day of July and as we close our books for the month of June, we are discovering that our office of 119 agents closed OVER 100 transactions (Final closings still have not hit the in-basket") during the month of June.

Doesn't sound like a doom and gloom market to me . . .

I'm just sayin'

Best,

b

The Owen Group – http://www.theowengroup.net

Barry Owen’s Internet Portal to all blogsites, websites, and social networks

Barry Owen
Principal Real Estate Broker

Keller Williams Realty

30 Burton Hills Blvd
Nashville, TN – Green Hills
615-568-2123

Simply & BOLDLY Living the FourFold Way in Open Space!

Quintessentially connected to the real estate industry to offer the ultimate experience for Home Buyers and Sellers in Middle Tennessee . . . Inquire within!

Her Father is an attorney.

The house was absoutely BEAUTIFUL, and the young couple were certain that this was a dream.

They had looked and looked and looked for the perfect house, and VOILA!

The price was even very appealing . . .

Their agent worked with them to put together a fair offer.

Then the listing agent called:

"There are other offers coming in. Let me know if your Buyers are interested in improving their offer before I present all offers to the Seller."

With great trepidation and much conversation about the possibility of "escalation clauses", and comparables and appraisal considerations and motivation and financing, the buyers decide to remove ALL contingencies and offer more than the list price . . . They did NOT want to lose the house.

They were both in great jobs and were well qualified. He had even gotten a raise recently.

Things were moving along smoothly until 10 days before closing.

He reported to work as usual and went through that day sensing a weird energy around his boss who would not make eye contact with him.

Mid afternoon, the Boss called a meeting.

1/2 the team were being laid-off . . .

including our Buyer locked into a contract with no contingencies.

There is NO way this young couple would qualify for this house without his income.

The Buyer's agent calls the Seller's agent for a conversation.

Because the community is tight knit and everyone seems to know everyone, the Seller and Listing agent know the families of the Buyers . . . and are fully aware that her Father is an attorney who appears to have plenty of money . . .

and so the Sellers IMMEDIATELY launch into an offensive by calling the Buyer's agent directly (By-Passing their own agent) with vigorous threats of lawsuit and "specific performance" expecting that they can "force" Daddy to pony up and buy the house for daughter.

The Sellers engage attorneys to issue real legal threats.

Of course, she (Buyer) seeks advice from her Father who dives in and begins negotiating.

What a quagmire this has become . . . and here's where the level-headed "outside" party opinion becomes essential . . . It is at this point that I (Principal Broker for Buyer's agent) am briefed and asked to help resolve the issue.

First step: EVERYONE STOP TALKING FOR A MINUTE!

Buyer's agent, QUIT talking directly to the Seller. If he calls you again, politely ask him to communicate to you through his agent.

Don't get all wound tight because of the spilled milk - The contingency free contract made sense when you did it and got the desired result (The Buyer won the house). No one could have anticipated the job loss. SHIFT HAPPENS! Quit beating yourself up about that, and let's focus on finding resolution.

Call Dad IMMEDIATELY and advise him NOT to dive into the negotiation. He's too close and will likely end up "taking a bath" . . . We need "Outside counsel" . . . An attorney who KNOWS REAL ESTATE LAW and is not personally and emotionally invested. Call your preferred Title Attorney to advise your Buyer. Dad can talk with the Title Attorney.

It's time for REALTORS to TALK TO REALTORS - ATTORNEYS to talk to ATTORNEYS - and Buyers and Sellers to talk to their respective REALTOR and ATTORNEY.

The reality is that the Seller can sue and probably win the case ...

but what will they win? The Buyer doesn't have a job and cannot get a loan to buy the house . . . and Dad is not a party to the contract so has no legal obligation to bail them out.

Let this thing play out through proper channels of communication and resolution will come.

It is my experience that when Buyers and Sellers decide to negotiate on their own behalf instead of working through their REALTOR (Professional Advocate), they create messes for us all to clean up later . . . and often agree to terms that put them at a distinct disadvantage.

Another recent case:

A Buyer negotiated directly with a Seller an extension of a contract and agreed to pay $1,000 for every month until it closes . . . indefinitely. This Buyer's agent could have easily arranged for an extension with NO monthly payment - YIKES!

or

How 'bout the Seller who met a Buyer on the front lawn and agreed to a "Lease Purchase" with immediate occupancy at a price 20% below the market . . . against the advice of their REALTOR. The Buyers and the Buyers' Agent were ecstatic . . . The Seller's REALTOR was frustrated and totally out of the loop for the remainder of the transaction . . . knowing all the while that he could have negotiated a FAR better scenario for the Seller.

Alright folks . . . I've got another few dozen similar stories, but I'll spare you the details.

The bottom line is that we REALTORS cannot always save our clients from themselves.

We CAN, though, be certain that they are aware that when they step outside the normal channels of communication in a real estate transaction, they are putting themselves (Their Financial Future) DIRECTLY in harms way.

I'm just sayin'

Best,

b

The Owen Group – http://www.theowengroup.net

Barry Owen’s Internet Portal to all blogsites, websites, and social networks

Barry Owen
Principal Real Estate Broker

Keller Williams Realty

30 Burton Hills Blvd
Nashville, TN – Green Hills
615-568-2123

Simply & BOLDLY Living the FourFold Way in Open Space!

Quintessentially connected to the real estate industry to offer the ultimate experience for Home Buyers and Sellers in Middle Tennessee . . . Inquire within!