Improving Communication Skills

“Communication is a skill that you can learn. It’s like riding a bicycle or typing. If you’re willing to work at it, you can rapidly improve the quality of every part of your life.”

- Brian Tracy

Improving Communication Skills

Can You Break Up With Your Real Estate Agent?

The relationship with your real estate agent — whether buying or selling a home — is more complicated than most business relationships. For starters, it’s rare that one of your employees, your boss or a business associate would come into your kitchen to talk shop. Also, a real estate agent comes in and out of your life at an emotional and vulnerable time — one of transition and change. It’s a very different relationship on many levels.

But sometimes the relationship just doesn’t seem to be working out as you expected. Maybe the agent is too slow, not available as you much as you’d like, or is too pushy. It could be that you and your agent just aren’t a good match.

For whatever reason, there may come a time to call it quits. Can you “break up” with your agent? And if so, how?

Buyers: Take the high road

Real estate agents rarely require buyers to sign a written agreement. Usually, you, as the buyer, simply work in “good faith.” This handshake agreement means you agree to work exclusively with the agent. You should never engage more than one real estate agent.

And that’s fair. Agents often work long hours for buyers with no real guarantee of a payoff since they only get paid (by the seller) when a buyer buys. In some situations, a buyer may tell an agent, after months of working together, that they’ve decided to rent or move to a different town. It’s part of the job description.

When working with an agent, start slowly if you can to get a better feel for the agent and the home buying process. The further down the road you go with an agent, the more awkward and difficult it is to end the relationship.

If you’ve worked with an agent for some time but things aren’t going well, have a heart-to-heart talk. Take the high road. Give the agent constructive feedback about what’s not working for you. When possible, give your agent a chance to reverse course. If they still aren’t performing, tell the agent you have to move on.

Sellers: Ask for a “divorce”

Breaking up with an agent may not be so easy for sellers because they are contractually connected via a listing agreement. They are obligated to work with their agent’s company throughout the term of the agreement. That doesn’t necessarily mean that they have to have the property publicly listed the whole time, but that they can’t work with anyone else during that term.

If things aren’t going well early on, voice your concerns to your agent. If it’s not working out or isn’t a good fit, a good agent will simply let you out of the agreement. But sometimes, being “divorced” will infuriate a real estate agent and they may hold you through the term.

A seller can always wait it out and refuse to show the home or entertain offers. But, that doesn’t do anyone any good. It is negative energy and not good for the agent’s reputation. If this happens, call the agent’s company (the real estate brokerage firm).

Let the manager know how your agent responded and ask to be released from the agreement. Most brokerage firms will want to keep a good reputation, so they’ll try to find another agent in the office that would be a better fit or perhaps release you from the listing agreement.

Avoiding the break up

The best way to avoid the real estate agent “break up” is to do your homework up front. Begin slowly and keep your distance at first. While you may be excited to enter this next stage of life, it’s prudent to tread cautiously. Don’t engage a buyer’s or seller’s agent without first getting referrals, vetting candidates and having a few preliminary discussions.

via Can You Break Up With Your Real Estate Agent? | Zillow Blog.

A real estate agent should be your best ally when buying or selling real estate.  But like any business decision, you need to do your homework before you start working together.  Don’t just sign up with the first agent you talk to or the first person to send you a listing to look at.  \

Make sure that you talk to at least 3 different agents before you settle on the best agent to work with.  I would recommend getting referrals from people in your desired neighborhood (if you’re looking to buy), from friends and neighbors who’ve had good experiences with agents and from a mortgage broker.  You may choose to talk to more but 3 is the magic number for you to get a good understanding of what to expect from an agent and what the agent will expect from you in this business partnership.

With this preliminary understanding you’ll be able to work through the rough parts of this real estate business, either buying or selling.  And you’ll be less likely to feel like changing agents in the middle of the transaction process.

Can You Break Up With Your Real Estate Agent?

Two Pains

“We must all suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons.”

- Jim Rohn

Two Pains

The 6 Worst Types of Real Estate Investments

As any experienced real estate investor will tell you, not all investment properties are created equal. Homes that might be perfect for a primary residence, for example, might not yield positive cash flows — and without positive cash flows, you’re losing money, not making it.

Here are a few things to think about and properties to avoid when you are ready to invest your hard-earned cash equity capital.

1. Anything that doesn’t generate rental income

These include second homes and land investments. Too many people invest in properties hoping that they will go up in value. But there is an opportunity cost to having money sit in real estate that doesn’t pay any income. Even if the property goes up in value, you’ve got to reconcile and account for all the money you would have earned if your money had instead been in the bank or in stocks and/or bonds.

2. Anything with negative cash flows

If you buy a “prize property” — such as a fancy downtown fancy condo, beach property or vacation rental — it’s probably going to be 20+ years before you get your first dime of positive cash flow. And that’s just no way to invest your hard-earned money. Pencil out any potential deal ahead of time, and buy properties that pay cash flow from day one — the moderately priced properties in non-prize areas.

3. Tenant-in-common (TIC) investments

These were popular from 2005 to 2007 as a way to diversify a portfolio without having to deal with the hassle of owning and managing real estate. But few people ever earned a dime because of all the costs and fees associated with the agreements.

4. Development deals

Development of land is extremely high risk. There are entitlement, construction and market pricing risks, plus countless others. These investments are best left to the extremely wealthy and experienced investors who can take the chance that they’ll never see their money again.

5. Condo-hotels, intervals & time-shares

These aren’t even investments. There’s no ability to predict cash flows, rental income or future value/sales prices. And they are very hard to resell and typically only at a fraction of the original cost.

6. Foreign real estate

You might be OK buying real estate in Canada or Britain – however don’t forget about the foreign currency risk — but foreign countries generally have different real estate laws, protections and fluctuating currencies, making these properties extremely high risk.

via The 6 Worst Types of Real Estate Investments | Zillow Blog.

So these are 6 investments to avoid, but what should you plan on investing in?  I prefer to invest in single family homes that are below the median price (for the area) that are purchased at a discount and start with an actual positive cash flow.  Then I plan on a short-term hold (maybe 2-5 years) and then sell and reinvest the equity into a new investment and start the process again.  For me, simple is safe.  It won’t knock the investment ball out of the park but it can be predictable and eliminates most of the risk in real estate investing.

What do you type of real estate investment do you prefer?  Please comment below…

The 6 Worst Types of Real Estate Investments

The Difference Between Intelligence and Education

“The difference between intelligence and education is this: Intelligence will make you a good living.”

- Charles Kettering

The Difference Between Intelligence and Education

Recognize Your Own Self-Worth

“The most delightful surprise in life is to suddenly recognize your own worth.”

- Maxwell Maltz

Recognize Your Own Self-Worth

The Chains of Habit

“The chains of habit are too weak to be felt until they are too strong to be broken.”

- Samuel Johnson

The Chains of Habit

The Moment of Decision

“In a moment of decision the best thing you can do is the right thing. The worst thing you can do is nothing.”

- Theodore Roosevelt

The Moment of Decision

Be Ready For Success

“The secret of success in life is for a man to be ready for his opportunity when it comes.”

- Benjamin Disraeli

Be Ready For Success

What You Do Between Inspiration

“Someone might have a germ of talent, but 90% of it is discipline and how you practice it, what you do with it. Instinct won’t carry you through the entire journey. It’s what you do in the moments between inspiration.”

- Cate Blanchett

What You Do Between Inspiration

Joy of Achievement

“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.”

- Franklin D. Roosevelt

Joy of Achievement

Simple Ways to Start Investing in Real Estate

Post by Revolution in Real Estate Investing

How do you start investing in real estate?

There are countless ways to invest in real estate. This article on Investopedia talks about some simple ways to get started if you don’t know anything about investing.
http://www.investopedia.com/articles/pf/06/realestateinvest.asp

However, I believe there is a better way. Using the professionals at Strongbrook (http://revolution.strongbrook.com/) you can start investing in one of the safest and most predictable opportunities ever created. Buying newer single family homes, holding them short-term and then re-selling them in a turn-key system. Letting these professionals do all the work and you keep all the wealth will make it possible for you to retire in just 10 years, starting today!

Real estate is a powerful investment tool. Find out how to get started today.

Simple Ways to Start Investing in Real Estate