Commercial Real Estate in Memphis and our Galaxy

Yesterdays Parade magazine (That insert in-betwixt the Best Buy ad and all the coupons) had the article: “5 Biggest Real Estate Myths”. Parade doesn’t have the article posted online, but here are the “high” points:

1. Only a licensed real estate broker should sell your home.

Reality: The National Association of Realtors tends to propagate this assertation: You’d turn to a doctor when sick, so why not have a broker handle your most valued asset? But not everyone needs a third party. After all, who knows more about your home than you?…

Here’s your reality: It’s not about who knows the most about your house, it’s about who knows the most about the local market, who knows the most about marketing your property, who knows the most about exposing your house to the highest number of potential buyers.

If you’re going to go with the good ol’ doctor analogy, use it correctly. Why go to a doctor when you’re sick? After all, who knows more about your body than you? “Who knows more about your home?” It’s not about individual product knowledge, it’s about industry and market knowledge.

2. Your broker wants to get the highest price for your home.

Reality: Most brokers just want to get a deal done, says John T. Reed, author and publisher of the Real Estate Investor’s Monthly newsletter. “They’ll tell you, “I’ll be pushing for the higher price, because my commission is linked to the price”" he says. But agents may be pushing for the first reasonable offer…

Here’s your reality: Read more »

Who doesn’t love a list?

#1. A Laptop Computer.

There’s a guy in my office who still doesn’t have a computer. I’d worry about him seeing this post, but I doubt he’ll ever get online to read it. A few days ago, Larry King told Roseanne Barr he’s never used the Internet. “What do you punch little buttons and things?” You don’t have to be a web programmer, but you must have your own laptop, and you must be able to work with it. Microsoft Word, Excel, Internet searching and navigation are the bare minimum things you need to be able to work with. I use the Dell Inspiron 9300.

#2. A “Smartphone”.

The easiest way to get a “responsiveness-to-your-client” edge on the other agents in your market is the ability to send and receive emails anywhere, as soon as you get them. The two smartphones I see the most among other agents are the Blackberry and the Treo. There are several other phones that will do the job, such as Samsungs’ new “BlackJack“, but for a proven, dependable, “business” phone, those are your top two choices. After reading user reviews online, I went with the Blackberry 8700. I’m glad I did.

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