Oct. 26, 2006 - A Shameless Name Dropper

The wonder of it all my friends is that I never planned it this way. When I left The ERA office that I was affiliated with in the beginning of my real estate career the Broker there told me that my business was probably going to  fail. He offered to personally take me under his wing and teach me what it takes to be successful. Well Norb, I think I've done pretty good without that guidance. Thanks for the offer though.

Since changing offices I have been interviewed on the My Kind of Town radio program, I was featured in the Agent Snapshot of Chicago Agent magazine, and I was asked to review a book by June Fletcher (whom I forgot to give a link to, so here it is), who has a real estate column in The Wall Street Journal. My opinions and style have been mentioned on various real estate blogs throughout the land and I have successfully sold millions of dollars worth of real estate. Somewhere along the line I have become successful and knowledgeable enough that my opinion began to count.

After my post about June Fletcher's "House Poor" yesterday, I got an e-mail from my friend and neighbor Aimee DeBat (who was instrumental in introducing me to Chicago Agent Magazine). Aimee thought it was a small world because she has met June. That doesn't surprise me though, because Aimee's Dad is Publicist and Syndicated Real Estate Columnist Don DeBat. Aimee is a talented copy writer as well, and she has some really great layouts. How's that for shameless name dropping?

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.

Oct. 25, 2006 - June Fletcher's "House Poor"

A month or so ago I was plodding along doing my REALTOR® type grunt work I received a surprising phone call from Felicia Sullivan of Collins Publishing (that's a division of HarperCollinsPublishers). She wanted to know if I would read, and then blog about a real estate related book if she sent me one. "Sure" says I, trying to sound as if that's what I do all of the time. I'm not sure, but I think she knew better. I know that you, my faithful readers, know better.

The fact that she even contacted me bolsters a few of my beliefs. One is that I am as almost famous as I keep saying I am, a legend in my own mind. Another is that blogging really works when it comes to attracting attention. Another is that once you get rolling, people want to give you free stuff so you will talk about them in your blog. What's next, paid advertising? I only wish Felicia had wanted to buy or sell a house that day because THAT is what I do. However, I did agree to try my hand at book reviewing, so here goes.

The book is House Poor Pumped-Up Prices, Rising Rates, And Mortgages On Steroids, by June Fletcher. Here is what the dust cover has to say about June: "June Fletcher has been writing about real estate and home-related matters for 20 years. For the past 10 years, she's been "Home Front" feature reporter for the Wall Street Journal; prior to that, she was editor of Homes Today, a monthly newspaper on real estate based in Washington, D.C., and senior editor of Builder magazine, a trade publication. She has won writing awards from the American Society of Business Publications Editors, the New York Business Press Editors, and the National Association of Real Estate Editors. She holds a bachelor of arts degree from Princeton University, and a master of arts from Oxford University, both in English. June resides with her family in Vienna, Virginia." On the off chance that June herself should read this, I hope she doesn't use all of that education against me.

The book is an easy enough read, so I suggest everyone should read it. REALTORS® should read it because it is full of tidbits you should already know, but probably forgot. Not only that, but if you are like me and go on to check out the sources she cites, you'll learn tons of stuff  about valuable resources you didn't even know about. I have purchased two other books she cited in House Poor. Buyers and seller should read it because it's books like this your smart REALTORS®, Mortgage Brokers and Real Estate Attorneys are reading. All "Industry Insiders" need to stay up to speed on the industry. Smart ones do and give you good, reliable information. The rest feed you horse crap. As a consumer of real estate services, the knowledge contained in this book will help you know the difference. That way you won't be led down the road to ruin by some half cocked agent and his cronies.

I don't want to give it all away, I want you to read this book. Let's make it easy on you: BUY THIS BOOK.

Now if anybody else wants to send me some free stuff, cool. I will be glad to check it out.

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.

Oct. 19, 2006 - The Poachers

Ola Amigos. I know it's been awhile, but I have been diligently studying for my Brokers license test. I know you may find that amazing, being that I am one of the best almost famous Real Estate Agents in the Greater Metropolitan Chicagoland area, but I strongly feel that my clients deserve to have the services of a full blown Real Estate Broker at their disposal. Besides "Broker Associate" will look much nicer on my business cards. "Sales Representative" makes it look like I am trying to "sell" you something, when in reality I am being hired to help you achieve your goals, whatever they may be.

I personally don't want to be "sold" anything. When I want to buy something I will contact various people who possess knowledge about what it is I am trying to do. For example, if I need transportation I will visit different auto dealerships to gather information about their particular line of automobiles. If the person I am talking to starts to try and "close" on me, I gently explain that I have "sales" training myself and I am simply gathering the information necessary to make an intelligent decision as to what it is I am going to purchase. When I have found the vehicle that suits me and it comes time to negotiate, I will start the process. If they continue to try and close me, that particular dealership will not even have the opportunity to negotiate with me. I refuse to deal with sales vultures.

Now there is a breed of sales people out there which I refer to as poachers. These poachers are constantly trying to sell me, and the rest of the real estate industry for that matter, something. What do these poachers sell? Your contact information, that's what. They capture your contact information when you visit their websites. Then they package it as a "lead" and they try to sell it to REALTORS® like myself. I do not support these poachers. I don't have to, I know how to create relationships with prospective clients all by myself. And even better, I know how to tell the difference between a serious prospect and a person who is just curious for information.

Let's imagine for a moment that you are watching the news in the morning before you go to work. You see a commercial for HouseValues.Com. It makes you wonder "What do you suppose my house is worth?". You have no intention of selling your house at this time, but you would like to know what your house is worth and this seems like a safe anonymous way to find out so when you get to work with a few minutes to spare before you start your work day you go to the HouseValues website. You fill out their required fields and send your request. Does HouseValues send you a bona fide figure as to what your house is worth? No they do not. They sell your contact information to some unsuspecting real estate agents as a seller lead that needs a CMA (Comparative Market Analysis). The next thing you know, you are hearing from agents you have never heard of before wanting you to list your house with them.

I don't mean to single out HouseValues, that's just one of many poachers that are out there. If they hadn't just called me on my cell phone, offering me their services, they may have not been forefront in my mind. There is HomeGain, a section on LendingTree, House, buttons on most ISP (Internet Service Providers) home pages and places I'm sure I haven't heard about yet. New ones are popping up almost daily. I get e-mails constantly from these types of sites.

I guess what I am saying here is be careful. When you are thinking about buying or selling a piece of real estate why give your information to someone who has no inventory of homes to show you or can not do a bona fide market analysis? Look to a trusted real estate professional who's only business is dealing in real estate. Even if you are just curious about what your house is worth and not interested in selling at this time, you can call or e-mail me. I promise I won't be selling your contact information to strangers.

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.

Oct. 5, 2006 - What's Behind Door Number One

I have a few investor clients who just love to shop for bargains. I was out with two of them yesterday. We were looking at some of the majestic Greystones on the west side of Chicago in the Lawndale neighborhood. That is an area of Chicago that is on the mend, so to speak.  Some of the Greystones still have the stone blocks out on the easement where folks used to hitch their buggies when they came to call. There are some really nice old buildings there that have deteriorated from neglect over the years, but they are restorable. Given the proper care it will rise to it's former glory.

However, there is a reason why these grand buildings can be bought dirt cheap. The area had become absolutely treacherous over the years. Open air, drive up drug markets, controlled by the street gangs were allowed to flourish. Addiction was rampant in the area, along with all of the evils that come with it, strong arm robbery, prostitution, con games, etc. Since it was a neighborhood of renters as opposed to owners, no one really complained too much and the "hood" hit the skids with no resistance from the powers that be. The money was no longer flowing into the absentee owners pockets, it was going mainly to the street gangs. Finally things got bad enough that the absentee owners felt that it was time to get out.

When they began unloading these magnificent buildings, investors took notice. As new money flowed into the area, along with a vocal public that wanted to protect it's investment, the streets began to get cleaned up. The drug dealers began being arrested. When that didn't produce the desired result, drug buyers began getting arrested in phony drug spot sting operations. The common folks were taking back the streets, and the people who were buying the properties cared about the properties. On the surface everything appears to be working out. However, there are still a few things that need to be ironed out, as evidenced by my experience yesterday.

Upon gaining access to one of the properties we were looking at, a sound, two unit Greystone with much of it's outside character in tact, I detected a strong urine odor. I did not think too much of it, thinking that perhaps there was once a cat in the house, or maybe a dog. At first blush, the place was not in too awful bad shape. Much of the original wood work was present but needed refinishing as one would expect from a 100+ year old place. The important part then, was to see the condition of the water rooms, the bathroom and kitchen. These rooms were totaled. That was OK though because there would be no need to gut them, there was not a fixture to be seen.

It was beginning to look doable until we opened a closed bedroom door and walked in on the squatter. It seems that a few homeless people had taken up residence in the glorious vacant Greystone. Each and every bedroom contained a five gallon bucket of urine. There were various articles of dirty clothing that was being used for bedding. Our squatter friend was the only one "home" at the time, but there was evidence of at least a few others. Closer inspection revealed their access points, an unhinged board on a boarded up basement window and a broken window off of the front porch, broken just enough to gain access to the window latch so they could open the window and lock it again behind them once they got in.

We escorted the poor guy out and continued to look over the property. No one else appeared during the course of our visit, but I knew they would be back soon after we left. I called the listing agent to let her know she had a problem. She indicated that this was not the first she had heard about it and that she would call the seller and let him know it had happened again. That's all fine and good I suppose, but don't you think that if she knew this problem existed that she would have given me the courtesy of a warning when I spoke to her to make the appointment to see the place?

As always, if you have found yourself receiving my blog postings via e-mail, it is because I have either blogged about you personally, blogged about something I know is of interest to you, or I consider you to be a person of deep thinking and intellect and I would love to have you occasionally commenting on my blog. If you would like to be removed from the list simply send me an e-mail saying so.