Responding to More Thoughts On Networking my friend Bill Roberts wrote: "That was the same methodology we used as Exchangors back in the '70s. Most of the younger people in this business get very defensive when you ask questions about their clients. I guess they don't understand that in a "normal" market the property isn't going to sell itself. A little "creativity" is called for if we want results."
He's right, that's where and when I was taught, five days a month networking, one on one and in selected groups
Networking one on one, or in groups allows you to do things that you could never do on the MLS. Back in the 70's commercial brokers faced the same kind of fluctuating unstable market that residential salesmen are facing today. Values and asking prices often had little or nothing in common. Traditionally, you determined the value of a property, listed it close to that and waited for a buyer. Often waited and waited and waited and waited. Waiting was all right for some. Many even list at outrageous prices and simply wait for their ship to come in.
Today home owners find themselves waiting and waiting, not only has their ship not come in, it sank at sea!
What those commercial brokers did together, was to over look asking price and look at the seller's problem. No one really wants cash, they want the benefits cash can get them. We forget this! We also forget we're in the people business! Marketing houses has gotten to be like selling new cars, you want a red Ford there are 57 of them on role 93 section G, go get one.
At a time when asking prices, values, and mortgage balances, again have little in common, it's time to take another look at solving the people problem.
What I learned so long ago, was to do the impossible. They taught me how to sell a two percent return!
So how do you sell a two percent return? You find someone making one percent and double his money. Today like then, you need to solve the people problem!
So what does all this have to do with professional networking? You can't explain your clients problems on the MLS, at least you shouldn't! So networking with other real estate people allows you to get help. Solving the problem requires two people and having them both in your own office is even less likely than selling your own listing!
I hope to see you at the Barcamp in Houston October 22!
Bill
William J Archambault Jr
The Real Estate Investment Institute
