Three years, and still no paperweight
Diary of a Real Estate Rookie
By Alison Rogers, Monday, June 23, 2008.As I write this, tomorrow is my third wedding anniversary, which loyal readers of this column will know marks a milestone, because it was around the time I got married that I stormed out of my corporate job and decided to adopt a cool real estate life. The transition from employee to freelancer opened doors I'd never expected -- including the fulfillment of a lifelong dream to write a book -- but it caused all sorts of emotional and financial turmoil, too.
A year ago, I wrote "the first goal is, of course, stay married." Unless something absolutely catastrophic happens in the next three hours -- and no newlywed worth their salt is going to absolutely rule that out -- we've got that one covered. Ivan claims the character of the loyal and long-suffering husband is underplayed in this column, so let me say publicly: Honey, thank you. Hubby got promoted, too, which is a fact I'm as proud of as any '50s wife.
For me, last year was my first full year working real estate in New York. It opened with a monster achievement: the close of a particularly hairy co-op purchase. It was my first sale representing a buyer, and at various times the selling broker, one of my sponsoring brokers, the buyer's lender, and the buyer's lawyer told me that we weren't gonna close. My client believed me that we would, and we did!
I had another buyer success in getting a perpetual shopper to contract. She is one of those buyers who had to see everything, and did, and then backed out of the market, and then put her toe in again. We cycled around like that several times, and probably saw 50 properties. Her deal hasn't closed yet, so I can't count it as a chicken, but even getting a contract was huge.
Other than that, though, real estate was choppy, choppy, choppy. I write and speak about real estate half-time, and trying to prioritize the other half as an actual part-time real estate business is nerve-racking. I spent a lot of time with buyers who wandered off, decided they didn't have money -- my favorite was the guy with $10 million who decided he was too poor to buy a $1 million apartment -- and just in general soaked up my time. I took a listing with high spirits in March and now, five offers later, I'm still hawking it. Getting jumbo financing is still a struggle, and many, many customers are deciding to rent instead.
Of course, I know the market is a slog. I had a heavy-hitting New York broker -- one of those guys with a million-dollar-commission paperweight in his office -- tell me that the market now is difficult, it's all about the buyers, and that's why he's OK with not having any listings right now. And I thought, "Erp, what's going to happen to ME if YOU don't have listings?" But the truth is, my listing presentations get better every time.
I also had the joy of learning that I could work while pregnant, although that was a far more torturous experience than anything I had been led to expect. They call it "morning sickness" because "constant vomiting" is too shocking a phrase to use in polite company, but let me tell you: Saltines, lemonade and ginger are for the birds. I developed a deep love for the medical drama "House" because everyone on the show was sicker than I was. I was so sensitive that I felt a little seasick continually, and I would throw up anywhere that had new carpet. Christopher Columbus and his men were on a little ship on the open ocean for five weeks; I was ill for double that, and I learned to work anyway. If that didn't prove to me that I was tough, then I had the sadness of learning I could work after a miscarriage.
That whole trauma made me want to drink wine, spend money, and spend money while drinking wine. Despite that impulse, our marital finances are improving, although still incrementally. This past year we paid off our credit-card debt entirely, which was one of our goals and a huge milestone. It's still a struggle to pay our quarterly taxes, but we've learned how to live on what we make. Our mortgage debt came down, but our HELOC debt bumped up a little. (I blame the new driveway I bought for our beach house.) The score last year: mortgage debt $518K, HELOC and credit-card debt $23.4K. This year: mortgage debt $508K, HELOC debt $25.5K.
Goals for next year? Well, we'd like kids, although we've learned painfully that there are some things that you can't just plan. My husband is turning 49, so I'd like to throw him a good party or at least slink out of the country. Our friends have been so wonderful lately; I'd like to spend more time with them. Working around the family thing, and the writing thing, I'm going to list and sell some real estate. For one thing, I'm getting good at it, and for another, I'd like me one of those fancy paperweights.
Alison Rogers is a licensed salesperson and author of "Diary of a Real Estate Rookie."
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Submitted by Susie Blackmon on June 23, 2008 - 2:15am.
There's a book brewing inside of me... being a rookie (sort of) in a brand new small town with a good old boy heritage... with no friend/family base, and mentoring agents who have hardly been out of their county but for a few open houses in another county that offered spectacular food. The "what is this blogging thing" type who hate themselves and anyone who doesn't hate themselves.
Have enjoyed reading your posts, and hope when I get going I can be as diplomatic as you have been, but being diplomatic would leave out so much of the humor for me!
Susie Blackmon
http://www.BuckingtheRealEstateTrend.com
Submitted by Jay Thompson on June 23, 2008 - 6:43am.
Happy Anniversary to you and Ivan!
The paperweights are over-rated.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Ralph M on June 23, 2008 - 8:19am.
"I spent a lot of time with buyers who wandered off, decided they didn't have money -- my favorite was the guy with $10 million who decided he was too poor to buy a $1 million apartment -- and just in general soaked up my time."
How about another goal?
Setting an example for other real estate professionals in the industry;
1- Pre-approve all potential buyers "BEFORE" you walk out the door
2- Sign a pre-approved buyer as a "Buyer's Agent"
3- Install your fees in your agreement
and....this is really crazy,,,, but other real estate professionals do incorporate this,
4- Install an hourly fee and maybe get a retainer BEFORE you walk out the door.
Watch how much time u save, now that buyers will know your serious.
Quit being a follower and be a leader and change the industry for the better.
Command respect!
www.aarsteam.com
www.nosellercost.com
www.weuuzit.com
www.iuuzit.com
Submitted by Jay Thompson on June 23, 2008 - 10:41am.
Ya know Ralph, this is just my opinion, but your constant advertising in the comments all over Inman is getting a little old....
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Ralph M on June 23, 2008 - 12:23pm.
Jay, I do not think I asked for your opinion.
Nor, do I think I care about your opinion.
Why is your blog link posted?
Submitted by Ralph M on June 23, 2008 - 12:24pm.
I forgot,
www.aarsteam.com
www.iuuzit.com
www.nosellercost.com
www.weuuzit.com
Submitted by Miss L.S. on June 23, 2008 - 3:01pm.
Jay, I agree with you. IMHO, Ralph has a lot of time on his hands (enough to make a comment on almost every article I read) which could be better spent than extolling his websites (need work - not user friendly at all) and putting down other people on a daily basis.
Submitted by Jay Thompson on June 23, 2008 - 5:05pm.
Ralph -
Name ONE instance where I've posted a negative thing about a Realtor BY NAME. I'll save you time, you can't.
Have I called out some silly things some people have done? Yep. Have I *ever* named them? Not once.
As for Stupid MLS Tricks, there are 3 posts in that category. Out of 1,100+ And you know what Ralph? They *are* stupid. Sorry if you don't like it, but I'm not going to sugar-coat or brush idiotic things under the rug. Had you bothered to READ any of those three posts, you'd have seen they weren't making fun of the MLS per se.
Please provide a link where I complained about people stealing a "layout idea". I've said things about people stealing **content**, don't recall ever once complaining about a layout. Stealing content is unethical and illegal. I could care less if someone uses the same blog template, it's a free country. I *do* care about people stealing my content. Surely you know the difference between layout and content?
You ask, "Why is my blog link posted?"
You're kidding, right? It's the same reason you post FOUR links to your sites Ralph (which, by the way, is against the user guidelines here). That blog generates the bulk of my business. I want people to find it. It's called marketing Ralph. It ain't rocket science.
(by the way, you can put those links in a signature so you don't "forget" them)
"Jay, I do not think I asked for your opinion.
Nor, do I think I care about your opinion."
You sure didn't. But when you post incessant advertising on a public forum, you're going to get opinions you didn't ask for. I get your advertising jammed down my throat without asking for it too.
If you don't want people giving you an opinion, don't comment on an open public forum.
If you don't care about my opinion (and I could care less if you do or don't) then why did you bother responding not once but twice, and include patently false things in your responses?
"Wake up and become a leader or innovater in your industry...blah blah blah"
With all due respect Ralph, outside of this site, you have no clue what I do or don't do with regards to leadership or innovation. I've even been accused of being both a leader and an innovator. And even being able to spell it correctly.
Sorry for the hijack of the thread everyone. But I can't stand by and let people post things about me that are false. Ralph, you are welcome to email or call any time if you want to discuss this further. My contact info is in my profile.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Jay Thompson on June 23, 2008 - 5:45pm.
This is just too rich to pass up.
I think I see where Ralph's claim that I'm complaining about someone stealing my layout comes from.
I changed the layout of my blog over the weekend. And I wrote a post titled, "There he goes again, jacking with the layout of Phoenix Real Estate Guy…"
You see Ralph, the "he" referred to in that post title is ME. I'm not complaining about anyone stealing my blog layout. Not even remotely close.
If you'd bothered to read the first two sentences of the post before you accused me of something, you wouldn't have made yourself look nearly so foolish and petty.
Now I am done with you. You're still welcome to call or email anytime. But seriously man, spend the 5 seconds that are required to read something before you attempt to slam someone for something they didn't do.
Jay Thompson
Broker / Owner
Thompson's Realty
Blog: www.PhoenixRealEstateGuy.com
.
Submitted by Diane Cohn on June 26, 2008 - 9:30pm.
Alison, my heart goes out to you for the little one. One in five of us has been there.