Inspired Real Estate For Today

"Mastery requires the Need to be Present.  The Need to Win Drains You of All Power." by Eckhart Tolle

I hear these words while listening to a conversation between Oprah Winfrey & Eckhart Tolle on the web about his new book "A New Earth." I think that the tension between those two statements is an ongoing life challenge.  To Master anything takes hard work... a lot of hard work.  Yet, the drive to do so must come from a place which is beyond the lower level machination of competitive energy if it is to accomplish true Mastery.  A difficult balancing act indeed.  

One of the most profound aspects of work for me has been the ongoing cultivation of my craft to share insights with others through various dimensions of teaching which include my blogging. When this activity comes from the 'zone," it is truly a gift.  It is effort without extra weight.  No longer is communication about finding the right words, but rather inolves receiving the right words... and being a vessel that can conveys them with integrity. 

Mastery is not a destination per se...it's the experience of heightened engagement.  It's not about arriving...it's about being fully present.  Mastery also absorbs replenishment without the distortion of ego centered behavior.  It sheds the short term unsustainable distraction of event based euphoria and replaces it with the lasting joy of inner satisfaction and contentment...It realises just how poor we have become in misunderstanding the difference.

Copyright 2008  Audu Real Estate  All Rights Reserved

Read more entries in the "What is Means Series."

Earlier today, I was introduced to a photo editing software tool by Google called Picasa by Liane Jamason on her blog post. I had so much fun with this program.  It's so easy to use! If you've ever battled with the complexities of Photoshop...you will truly understand.  This is a FREE program which you can download and start creating all sorts of unique photo compositions very quickly and easily.  Here's some of the photographs that I edited today from scenes around the Grand Rapids, Michigan area.

This picture was colorized to highlight the color in the sky and bring that emphasis in the background to the main focal point which was the Marriott Hotel complex.

The picture of these roses was taken in late fall...they kept on blooming and blooming.  They were supposed to be minature roses, but they grew to be real "giants" at 4-5 ft. tall!

The Brass Works Building off Monroe Street in Grand Rapids, Michigan is a retrofitted building which houses a classy mix of businesses and apartments.  This relief in black and white was fun to play around with and highlights the cool mural at the side of the building in a stark way.

Copyright 2008  Audu Real Estate  All Rights Reserved

I don't know about you, but most Open Houses that I've been to in the Grand Rapids, Michigan area recently are NOT standing room only events!  So, you can imagine my surprise when I drove up to a model home this past week and couldn't find a place to park.   

The event was organized by Redstone Group, a company which is building several unique communities around the Greater Grand Rapids area.  My agents received an invitation while attending a mortgage seminar and persuaded me to attend.  I'm glad I did.  I always appreciate the opportunity to watch inspired vision in action.

The Redstone Group held a Networking Open House.  Instead of waiting for clients to hopefully find them, this company decided to concentrate it's focus on connecting with the Networkers...you know the people who know other people; thereby enhancing the chance that they might know someone wanting to purchase a home.

The elegant catered lunch featured a Seasoned Breast of Chicken, Cesar Salad, Mashed Potatoes, Garlic Bread and Scrumptious Chocolate Chip Cookies.  The venue was their beautifully staged model home.  Guests were invited to tour the home and given an extensive packet of the various communities and distinctive options available in Redstone Homes. Talk about a cool way to create buzz...

Redstone Group designs Green Built, Energy Star* certified homes that are constructed in a manner that honors the natural habitat and seeks to preserve as much of the native terrain as possible.  They build homes in Grand Haven, Battle Creek, Kalamazoo and Holland in addition to several communities throughout the Grand Rapids area.

The invitees were an eclectic mix.  The event was billed as a Opportunity to Connect and you were encouraged to bring your business card and mix with other professionals to enhance your business.   I met all sorts of individuals.  Of course there were real estate agents and brokers, but in addition, a Business Network International Group was there which included a wide swath of different companies...there were mortgage brokers, at least one attorney, title reps, and we even met a former Sherrif.  

I'm left wondering why so many Builder Spec Home remain in isolated splendor when they could be teaming with life and opportunities to Create A Sale through events like this?  Redstone Group told us they had their best year ever in 2007.  I can see why! 

photo courtesy of: Wolfgang Staudt's photostream

Copyright 2008  Audu Real Estate  All Rights Reserved

Passion! 

Is the inspiration behind genius.

Passion!

Is  purity which Loves for it's own sake

Passion harbors gritty endurance 

That withstands the gale of withering opposition 

Passion is a nectar...

Which provides sustaining grace in the face of extreme odds. 

Passion is the gift of insight which perceives a reality obscured to the casual observer. 

Passion plays center stage in it's own  drama 

And dances to the beat of an unknown drummer

Passion manufactures it's own joy...

And nourishes it's own truth

Passion understands it's own unique sorrows

And endures to reap it's own peculiar Reward.

******

Copyright 2008  Audu Real Estate  All Rights Reserved

Click here to read more entries in the "What It Means Series"

Photo courtesy of: luisa_m_c_m_cruz's photostream  on flickr.com

I just picked up Business Weeks' latest issue which has a fascinating expose about why the lending industry is still not safe.  It's an in-depth analysis of the lending practices which continue to threaten the viability and integrity of many of the nation's largest banks.

Reading the article caused me to reflect on how different the act of balancing my checkbook  as a Real Estate Broker would be, if I used the accounting practises which were practised by many of the lenders who are now embroiled in the mortgage crisis. Here are 3 differences which were immediately evident to me...

Not Having to Worry about Having Enough Money...

For starters, I could deposit checks without worrying about a silly little thing called "clearing"...that is making sure there was actually money to back up the check. In a peculiar twist of advanced accounting, banks are allowed to report the full amount of interest on risky adjustable rate mortgages known as option-ARMS even though buyers did not have to make a full interest payment. As you can guess...many buyers did not make the full payment.  From an accounting standpoint, this practise was in essence like cashing a check without the full amount of money in the bank.

Making Money as Soon as the Paperwork was completed...

Which Real Estate Broker would not relish the ability to count transactions as income as soon as the paperwork was written up?  After all, everything will sell, for something...someday!  This would definitely enhance the margin of profits on the bottom line.  It would be wonderful to just gather up all my contracts and optimistically guarantee that regardless of the eventual terms of the deal...I would Prepay myself 4% on my commissions today.  If the deal didn't pan out in the future...well, I can revise my projections downward with a little tool called the "write-off."

Making up the Rules as I went along...

Then, there are the creative ways I could deal with issues which arose that caused deals not to close as anticipated or other losses incurred during the normal course of business.  If I were a big bank, there would be all sorts of "judgement calls" that I could make about just how and when to record these losses and what weight to give them.  In essence, the ability to wave my magic wand and minimize problems including those pesky troublesome, money sucking things called bank charges.

Well, unfortunately, this reality doesn't work for me and it will no longer work for the banks who utilized these "creative tools" to maximize profits that were non-existent for the most part or materialized at levels much lower than expected.  Just like I have to balance my checkbook and correct mistakes made in order to get back in sync with reality, we are witnessing the painful process of correction at the tills of many of the nations banks right now.  But, this will be shared misery...all of us are going to be a part of paying the piper this time around...unfortunately.

So, in summary, here are 3 Simple Rules that make common sense in basic accounting for Ordinary Folks.

1. Understand the Rules!

When the rules are made, we all have to follow them.  Particularly rules which govern addition and subtraction.  If we don't make money...we don't get to pretend that we do and add that Fake Number to the balance sheet.

2.  Don't Spend it Before You Make it!

Nothing happens until the Fat Lady Sings.  No commission can be guaranteed until it's in your hand and in the bank AND cleared!  Don't spend a cent before then!

3.  Know the Difference between Having Money & Thinking You have it!

Worrying about money is a waste of energy.  Being prudent about the management of money is not. The latter will prevent a loss which can send you to the poor house...the former can contribute to the digging of an early grave.  Avoid the former...diligently practise the latter.

Related Story:  Business Week, 2006 "Nightmare Mortgages"

Copyright 2008  Audu Real Estate  All Rights Reserved

If you've ever run a relay, you understand that the most important aspect of the race is the passing of the baton.  You can have the fastest runners on each leg of the track, but if the hand-off is not perfectly coordinated, you can loose the race in those minute seconds. 

That's why you practise the hand-off like your life depends on it.  You work on timing, you work on pacing your steps, you mark the track so you can see the precise moment that the runner behind you hits that exact spot where you have to take off and trust that they will not fail you by breaking their stride. 

What's extremely tricky is that both parties are running at full speed and must depend on coordination and an innate sense of rhythmic timing to make that pass seamless.  The race depends on it.

When the baton is passed like it should be, it's a beautiful thing to watch.  It feels like you're watching one runner morphing with fluid grace into another form, each one more beautiful and breathtaking.  It's a work of art...a thing of grace. 

I had the opportunity to witness the passing of a baton this past week.  Our Anchor was a lady who has run the race of life with a steady and unrelenting pace.  Raising and caring for a large family and then a husband who was increasingly isolated by the ravages of Alzheimer's.  She had grown up in a generation where the head of the household handled all the major decisions and certainly the finances.  When she found herself in a situation in which she had to take on all these tasks, she rose to the occasion and with the support of her loving family had to learn to navigate all kinds of new territory.

This was not an easy time to be selling any home in Grand Rapids.  The streets were littered with the signs of those who had been trying for months.  When they contacted us to interview us about our plan to market their home, they started with asking us to do an honest assessment of what they would need to do to update a home that had been lived in for decades.  The list was extensive.  They said Thank You and set out to do the suggested updates and repairs.

A process like this takes a lot of coordination.  In addition to the staging and updating, additional paperwork was required, children and the home owner were updated on a regular basis, extensive marketing was done online, Open Houses were held.  And when all was said and done...it was placed in God's hands.

So, as we sat at the Closing Table, watching the animated conversation of two engaged parties, one transitioning to another phase of life and the other just starting their life together as newlyweds and new homeowners, I was struck by the beauty of a seamless transaction...one which was marked with a peculiar grace and handed off with courage and goodwill. 

She was relieved and grateful to have successfully completed a remarkable journey.  They were deeply thankful to be settling into a home which had been lovingly cared for.  They invited her to stop by to see them and her former home if she wanted.  It was a beautiful thing to watch.  We were thankful to have been given the privilege of assisting in a successful hand-off! 

Copyright 2008  Audu Real Estate  All Rights Reserved

It was one of those gorgeous winter days in Grand Rapids, Michigan.  I mean really nice...not just the blue sky with nary a cloud to mar the brilliant sunshine, but the weather was actually WARM...which for the Midwest in winter equates to above 50 degrees!  It was a day in which winter seemed to be loosing it's grip although anyone who has lived in Grand Rapids long enough knows that she still has a couple more punches to throw.

As I prepared to go outside, I put IT on without even thinking.  IT, was my winter coat.  I climbed into my car in my semi-heated garage and drove out while enjoying the sunshine.  It did not occur to me to roll down the windows.  I just presumed it was too cold.  It wasn't until I got to the bank that I noticed a smiling lady about to get into her car and was jolted to realise she wasn't wearing a coat!  And...she seemed happy. 

In disbelief, I got out of my car and realised I didn't need a coat!  I had just presumed that I did simply out of habit.  I gladly deposited my coat in the backseat and walked free of several extra pounds that I've been carrying around for the past several months.

It occurred to me that to a remarkable degree, my automatic pilot response to putting on my winter coat is how we handle a lot about life in general.  It's easy to go through life with programed responses to all sorts of different situations.  Take the real estate market for instance.  For the past couple of years, everyone has been talking about how terrible things are and how homes are not selling.

Yesterday, I was asked if I had sold anything for the past 6 months.  I was shocked!  Of course we have; in fact in January 2008, the tally of homes SOLD by real estate agents with the Grand Rapids Board of Realtors was 18.9% higher than January of previous year...in fact it was the best showing of home sales for January since 2004.  Imagine that!

But unfortunately, so many people continue to walk around unaware of what's going on around them.  Somewhat like I was with my winter coat today.  Bad News has become like a Bad Habit which we pull on without thinking...just like our winter coats in spring weather.  Many of us have become accustomed to Bad News and in some ways addicted to.  We rush out to buy the latest rag about someones downfall or stay glued to the TV while the media chronicles the same awful story over and over.

Meanwhile, the sun has come out, the birds are starting to sing, the air is ripe with warm anticipation of spring, and...we're in danger of missing it...walking around with our old winter coats of negativity and dour statistics. 

Copyright 2008  Audu Real Estate  All Rights Reserved

photo is courtesy of: audreyjm529's photostream on flickr.com

Admittedly, it's taken me awhile to understand certain things. I'm of the generation of real estate agents who straddle the rapidly expanding divide between the "old school" and the "new school."  My generation was hooked to the pager.  Early in my career, I had a broker who demanded you answer it within 7 minutes or else the lead was gone. Poof! Given to someone else just like that.  When I left, it took me 3 months to debrief from the trauma of that aspect of my experience. 

What I learned from that debacle is this:  No one will DIE if I don't answer my phone calls during dinner, at midnight when some callers choose to call for real estate related advise or if I turn OFF my phone during a meeting with someone who deserves my attention at the moment.  I am not anyone's doctor.  The decisions and counsel my job requires are important, but certainly not life threatening.  Nor does my job require me to talk with a client every single day or several times a day to allay fears and superstitions.  That is the job of a licensed therapist.

The Mother/Father complex has been a little trickier because the Mother role is one I play in real life.  Thus, the transference of this role into client relationships has sometimes occurred inadvertently.  As a broker, it becomes even more critical not to confuse the fact that you are a manager of agents, not their pseudo parent.  I am learning that caring compassion for the concerns of others is not the same as parenting them.  That job can only belong to the individuals who raised them...I am a poor substitute.  

I am a real estate specialist. I am hired to share my knowledge and expertise about the real estate transaction and to guide clients through to a successful conclusion.  I am a Partner in the Process with my clients...someone who engages by sharing my understanding of the unique challenges that my clients face and who LISTENS to what they have to say.  My role is not to instruct you in what is best for you, but rather to give you the benefit of my wisdom and experience so that you can make an intelligent and informed choice.  I am a Realtor®.

Copyright 2008  Audu Real Estate  All Rights Reserved

We're in the midst of the most significant paradigm shift in the history of the real estate profession. We're also re-defining our concepts of what we will become. Last year, hundreds of thousands of real estate agents left the business.  The trend is expected to continue in 2008. Real Estate boards across the country took proactive steps to deal with the implications of fewer agents in the industry.  Is it possible to minimize the risk factors for a species in decline?  Let's review some defining characteristics... 

OLD WISDOM

A) NEWBIE:

Defined as: Green & lacking in experience

Traits & Characteristics:  Limited skills and barely functional knowledge of the real estate industry

Risk Factors:  Lack of experience and knowledge about the real estate industry.  Prone to error

NEW WISDOM

B) NEWBIE:

Defined as:  Not yet defined by the limitations imposed by current industry standards

Traits and Characteristics:  Eager & open to learn new information; Not burdened by carrying "old bag of tricks"

Risk Factors:  Open to creating new experiences and readily adapts to learning and utilizing new technology.  Prone to error and over-inflated ego

OLD WISDOM

C) EXPERIENCED AGENT:

Defined as:  Several years or decades in the business....hundreds of transactions completed

Trait and Characteristics:  Slow to embrace new technology; trusts in self-validated systems...slow to adapt to change

Risk Factors:  Risks becoming obsolete and irrelevant...continues to hope things will slow down.  Less likely to learn new methods...less likely to capture new business from emerging new models in the industry.

NEW WISDOM:

D) EXPERIENCED AGENT:

Defined as: An agent who puts knowledge & informed to intelligent use...Regards Experience as a function of maturity and effectiveness

Traits and Characteristics:  Eagerly embraces the process of learning and understanding new paradigm shifts

Risk Factors:  Todays' best discovery may be tomorrows' old news and the learning curve may have to begin all over again.

*I'm conducting a very unscientific poll and risk assessment of the real estate agent species.  Please vote (by selecting A, B, C or D) the agent you think is most likelyto survive the changes in the real estate market. Please briefly state the reason for your risk assessment. The evolution of the species is also a possibility.  All opinions are welcome.

The contents of this study are protected by Copyright created by Audu Real Estate in 2008.

Puffery:  as defined by (wikepdia) "Puffery as a legal term refers to promotional statements and claims that express subjective rather than objective views, such that no reasonable person would take literally.

We've all seen them, created them, or used them.  They're the exaggerated statements that are part and parcel of much of the personal and professional advertising within the real estate industry. 

Ever since the Federal Trade Commission in 1984 investigated '"deceptive advertisements" and determined that the agency would not actively pursue statements which the ordinary consumer would not take seriously, the use of Puffery in advertising homes and in the description professional skills has swelled enormously.

It is not an overestimation to state that many real estate agents feel it is OK for advertisements for real estate products to contain statements like: Super, Fantastic, Immense and Spacious even when the truth may be far from the reality described. I even have books from real estate seminars that suggest "descriptive words" that might be "helpful" in describing somewhat less than fantastic dwellings.

In the nineties, Puffery escalated to new levels with the rise of the Super Agent and the Super Agent Brochure.  In addition to billboards proclaiming that agents could sell anything, anywhere at anytime, it was simply a rite of passage to claim that you were the BEST at something...even if that meant all you could say was you were the BEST NEW AGENT.  It wasn't necessary to qualify the statement with the FACT that only one agent had been hired!

At some time every rooster comes home to roost.  Although puffery is supposedly not to be taken seriously, I wonder how much it has adversly impacted our industry.  What happens to the perception about our profession when we knowingly cultivate a reputation for dishonesty...even when it is supposedly "outlandish" dishonesty?  Does it matter if, over time, descriptions of homes rarely match up with the reality the potential buyer encounters when they enter the home?  Should digital images capture the essential true state of a homes' interior?  Have we duped ourselves into believing that in the long run, this has no consequence?

In an era in which "Truth in Advertising" has become a marketing mantra, it is perilous to presume that this does not apply to our industry just because puffery is something everyone knows that we do.  And...there may be some legal liability.  Did you know you may be inadvertently creating an express warranty when you claim that you are the BEST or CHEAPEST and can be called upon to substantiate your claims in court?

I wonder how much of the distrust the public has about our services has to do with the fact that we have taken "telling the truth" about our product and our services far too lightly in our profession as a whole?  I wonder if some of the less than favorable opinion and press towards our industry is a delayed consequence?  

Copyright 2008  Audu Real Estate  All Rights Reserved

UPDATE:  I also wonder to what extent puffery has impacted the public perception of our professional evaluation of the current real estate market.  Has the media perspective become the most legitimate opinion because we have squandered our integrity.  Just a thought....What do you think?