Monthly Archives: June 2009

Opportunities Exist Everywhere

Two shoe salespeople were sent overseas to open up new markets. Three days after arriving, one salesperson called the office and said, “I’m returning on the next flight. I can’t sell shoes here. Everybody goes barefoot.” At the same time the other salesperson sent an email to the factory, saying “The prospects are unlimited. Nobody wears shoes here!”
I love this old marketing story. It a reminder of how many times one real estate investor will see an opportunity that another buyer completely missed. Real Estate investment returns often go to someone that looks at a property with a fresh eye, see’s the potential that others miss, and acts on it.
Every development started when someone looked at a piece of property and decided that now was the time to put the money into the property and develop it. There is no point in time where everyone knows it a good time to act. It’s just obvious to the person that takes on the task.
No matter what type of property it is, savvy investors spend hours and days doing their homework to make sure that the property will produce the returns that make it a smart deal. When buying a property you must know everything you can about the current market, projected market, competition, neighboring properties, city and deed restrictions that control the property, and any other factors that might influence your ability to lease or sell the property. If you do the required homework your chances of success are much greater.
One day a man was swept up in a great flood. As the water rose he sat on the roof of his house and waited to be rescued. After a few minutes a boat came by and offered him a ride. He declined saying “God will save me”. A little while later a helicopter came by and once again the gentleman declined a ride saying “God will save me”. The man eventually drowned. As he stood before his maker he asked “How come you did not save me God?” God replied “well I sent a boat and a helicopter what else did you want me to do?”
It can be the same in real estate. When a real estate investment comes along that makes sense take advantage of it. You can’t reap the rewards if you don’t take the leap.

Steve Mallett
Mallett Integrity Team

A Career in Real Estate?

One of my favorite parts of the summer is all the fun parties where my wife and I get to visit with family and friends. It always amazes me though, that no matter how intimate the party, there is always at least one other Realtor there.
At the start of 2008 there were almost 1.2 million Realtors in the U.S. Sometimes it feels like half of them work in Austin. The truth is Austin is losing Realtors at an unprecedented rate. At the beginning of 2008 there were over 11,000 licensed members of the Austin Board of Realtors. At last count that number was 7,000 and expected to plunge even farther. The tougher real estate climate is making some part time agents rethink their choice of careers. It has also become a great opportunity for established agents and is allowing new agents to break into a changing market.
Real Estate is a wonderful career but you need to be a self-starter and a self-motivator if you want to make it in this business. A good broker will provide you all the tools you need to make a living including education, office space, legal counseling and help with marketing and promotion. The tools are available but you must know what to do with them.
Where many agents get sidetracked is that they think they are learning to sell real estate when in fact they are building their own real estate business. You need to know how to sell real estate, and all the details involved in a real estate transaction, but not lose track of the big picture. Over 80% of new agents do not make it past their second year in Real Estate. Good agents focus on building their business, not on the next transaction.
If you are considering a career in Real Estate you have some big decisions to make even before you order business cards. Where will you get your Real Estate education? Which Broker will you sign with? What niche will you serve? All of these questions need to be answered well in advance of taking classes.
Real Estate can be a very rewarding and satisfying career for the right person. Our recent market fluctuations are allowing good agents to shine and new agents to get a head start on a great career and a fun job.