Change with the times….

“Whoever desires constant success must change his/her conduct with the times.” (Machiavelli) from the Jack’s Winning Words blog. That Machiavelli was one smart dude and what he said back in his day certainly applies right now in the very changeable times in which we live. If there was ever a time in real estate that demanded a change with the times by real estate practitioners it is now.

I freely admit that I missed the REO boat. Initially it was because I didn’t want any part of what was then a fairly sleazy bunch of operators. Then it was because I just didn’t get how to make the connections with the asset managers that control who gets the REO listings. Maybe now I have to admit that I just don’t want to do the work required to deal with REO properties; but that is a bogus excuse, since there is work required in any listing. REO listings may be a bit more of a hassle, but likely not much more than a relo listing. I just haven’t made the effort to get in touch with asset managers who control this inventory, partially because I had convinced myself that they already had their agents lined up. That’s not always the case.

So, I need to change, I need to take on REO properties and I need to make the effort to got out an find and solicit business from REO managers. That’s one change that I must make. Another, is dealing better with short-sales, which make up another major category of sales these days. I have been reluctant to take on the work of negotiating with the banks myself and so I have a couple of partners that can do that work. What I need to do is a better jobs of explaining the process and why a dedicated professional is needed, rather than doing it all myself.

Finally, I must change my conduct to get better at calling prospects. I do a very good job of responding to calls and of calling back people who may have called into our Corporate offices and been referred to me. What I do a lousy job of is cold-calling or even warm calling - calling someone whose name and number I may have gotten through an internet referral service, but whom I have never met or with whom I have no real referral contact. I don’t like disturbing people with cold calls, because I don’t like being disturbed with cold calls. So, while some agents are great at calling expired listings or For Sale By Owner people, I just hate doing that, since I have no relationship with those people. I may never get good at that, but I’ve at least got to start trying.

I guess recognizing the need for change is an important first step, but I must admit that I have know these things for some time. Machiavelli didn’t go on with any words of wisdom about how to make the changes, so I’ll have to rely on another great thinker, this one of our modern times, Yogi Berra, who said, “In theory there is no difference between theory and practice. In practice there is.” I understand the theory, now I need to practice the practice. Yogi would be proud to have said that.