A Fresh Approach to Real Estate Rookie-hood with Jennifer Allan: November 2009

We read about Great leaders who have overcome tremendous obstacles to achieve... well... Great things. We hear stories of tippy-top producers who found themselves at some point living in their cars... but today make gazillions of dollars. Closer to (my) home, there are stories like Jack Canfield's where he had to peddle his idea for the Chicken Soup for the Soul book to dozens of publishers before one bit... and it became one of the best-selling books of all time.

Stories like these are supposed to be inspiring. But can I be brutally honest for a moment? I find them more intimidating than inspiring. Call me humble (ha!), but I'm just not sure I have what it takes to reach such Greatness and prosperity. Besides that, I've never lived in my car, which seems to be a pre-requisite for Greatness, although I have run out of gas a few times. Does that count?

I find far more inspiration in mediocrity. When I need to rev myself up to work on a chapter in my next book or prepare for an upcoming speaking gig, I seem to magically stumble upon someone in my industry who does their craft poorly, or at least, without Greatness. Many of whom are quite successful, I might add! Just the other day I was reading a fairly popular book about entrepreneurship (which is the topic of my next book) and was stunned at how superficial and obvious, not to mention poorly edited the material was. I mean, DUH. This stuff comes straight from Old School Self-Promotion 101 -- and the book was touted as revolutionary!

Anyway, after reading about half the book, I couldn't wait to get back to working on mine which I'd backburnered earlier this year. Heck, if this guy's stuff can be considered "revolutionary," to what heights might MY stuff climb?!

This approach could easily apply in a real estate career. Sure, there are a handful of real estate practitioners who are Great but the vast majority is, by definition, average. Many, of course, are less-than-average, but darnit, if they don't do okay!? Frustrating, isn't it?

Well, take that frustration and be inspired by it. Visit open houses on Sundays and observe how poorly many agents handle them - their signage, their (lack of) knowledge of the home and neighborhood, and their often-uncomfortable rapport-building skills. Eavesdrop on the other agents in your office and hear how unprofessional some of them sound while talking to prospects and clients. Preview listings in your area and notice how poorly they are priced and marketed.  Read through several MLS listings and see how many fields are incomplete and the descriptions dull. As you work your own deals, note how long it takes for other agents to return your calls, and how unfriendly or unprofessional their outgoing voicemail messages are.

I could go on and on, but I think you get the point.

If you, like me, are intimidated by the Great, look to the mediocre for inspiration. You can do better, significantly so, and in today's world of increasing mediocrity, you might find yourself among the Great!

Been watching a conversation elsewhere on the web about whether or not to put buyers in your car... as opposed to driving separately. While some of the comments are ridiculously snotty ("They can drive themselves!" or "Let THEM use their own gas!"), the most sincere objection seems to be that putting another warm body in your car creates liability for you.

We hear similar objections all the time to doing things that serve our clients. DON'T attend inspections! DON'T recommend mortgage brokers! Don't give any advice that might be construed as legal! Don't put buyers in your car! Blah blah blah.

Basically, in order to CYA to the best of your ability, you should, as one instructor put it - "stand outside and smoke" during most phases of a real estate transaction. To avoid liability, y'know.

Well, shoot, I don't buy it. My buyers and sellers pay me darn good money to be intimately involved with every facet of their real estate transaction. And I show up. Yes, to inspections. I get on the roof and join the party in the crawlspace. If I don't know three good inspectors, I recommend only the one or two I like. I write my own addendums that probably border on practicing law. And yes, I put buyers in my car.*

It's my job. And in my 13 years of doing my job, I can honestly say I've been richly rewarded for doing my job and only threatened legally once. By doing my job, I serve my clients, which not only leads to happy clients, but more paychecks for ME ‘cause my deals close!

I know what I'm doing. And I shall do it. Even if I risk being sued. This is a liability-ridden business. If you cain't take that heat... go find another kitchen to play in.

*Here's my opinion on putting buyers in my car:
In 13 years, I can count on one hand (okay, maybe two) the number of times I've ridden separately from my buyers. I usually drive, but if my buyer has a car-seat issue, I'll ride with them. The only times I've had a buyer follow me is if we're meeting at the house and only looking at a few others - then it just seems to make sense.

The time spent driving between houses is great bonding, rapport-building and information-gathering time. I can't imagine not having that time with my buyers as we're getting to know each other and figuring out what they want in a house. It also gives me the opportunity to demonstrate my expertise in the area and for them to ask questions which, assuming I can answer (!), builds my credibility.

I've shopped for houses in other markets and the agents always drove. I'm trying to imagine them leaving me in my rental car to follow them in an unfamiliar town... and I'm pretty sure I would think they were rude, antisocial, lazy or ashamed of their car. I certainly wouldn't think MORE of them if they made me drive myself.

That said, if I didn't feel safe with someone, I probably wouldn't want them in my car, but neither would I be working with them.

** Nothing written here should be construed as legal advice <grin>