All posts by Katie McCartney

Engaging

Yes, yes, I know that I am of the generation that is seemingly unaffected by marketing and advertising.  You could say that my generation has created this "new" form of marketing – social media – to replace the old marketing genres of commercials, print advertising, etc.  My question is:  Is social media all that new?

If you look at books like How to Win Friends & Influence People by Dale Carnegie copyrighted in 1936, you will see that there isn't that much difference in principles with the social media world.  It is not about how much noise you make; but, the quality of noise you produce.  Do people trust you?  Do they see you as an influential person in the general community?

Community can be redefined here as Social Media.  Communities besides the one you live in can extend out to a much wider audience.  These communities include people that have the same interests, passions, or hobbies you do.  It is becoming an expert, an advocate, a leader in other subjects besides your chosen career that can attract attention.

I have to laugh when someone sits down with me and instantly sells their product, especially when I have known them for a while and what they do for a living.  I want to know them.  How they are doing?  What is going on in their lives?  Is there anything I can offer that can help reach their goals?  Can I have a wacky conversation with them?  You know (as shocking it may seem) I may not use them myself; I may recommend them to others.  Is that influencing an influencer?

Remember that the next time you are out and about using social media or networking:  It is not the massive amount of information you throw at people; but, the way you engage them that makes all the difference.

Specialization Smechilzation

As I am progressing in my Real Estate Practice, I keep loving and reveling in the new challenges that my clients bring to me.  I get to LEARN and change direction and think outside the box.  

This constant flux brings me back to advice I was given early in my career.  "Katie, you must find a specialization in Real Estate."  Who says?  Why has this piece of wisdom been passed down?  Why must I throw myself into a box and nail it shut?  I miss out on potential new explorations and understandings of Real Estate.  

I'm a Real Estate geek.  There is nothing I find more exciting than learning about Real Estate – well, besides technology.  I mean there are so many avenues and roads to see and explore.  Each just begging me to learn the intricacies and nuances.  So why should I specialize?  Why should I form a box around myself?  

Some of it I think is safety.  You know the ins and outs of everything there is to know on a specific subject or area.  But, are not new ideas from those people who think outside the box?  Who are exposed to different ways of doing things?  

Let's look at the situation right now in Real Estate.  We have a potential section of buyers who are scared stiff to buy because of various reasons:

  1. Been burned before by the market and are afraid to buy or
  2. Know the market is a sticky situation and don't want to try their luck or
  3. Serious lock down on getting a mortgage due to credit.

What are we doing about this?  Seriously, what are we doing?  

Let's change the thought process.  Let's work with the people.  Encourage them in their endeavors.  Give them options.  Let them know that we support them and their decisions.  Let them know that we are experts in Real Estate.  Period.  

Experts in Real Estate do not shy away from a challenge.  They take care of their clients and their needs.

To Lease/Option or Lease/Purchase or Not

With the state of the economy and how the housing market has been, some of my sellers have approached me with this question concerning Lease/Options or Lease/Purchases.

3 Things to Consider on a Lease/Option or Lease/Purchase:
1.  "There are many complex issues to be addressed" and there are no standard contracts for these issues; therefore, a Real Estate lawyer needs to be involved.  
2.  Thorough background and credit checks must be done on the potential tenant so you know that their money woes won't bite you.
3.  Being locked in on a purchase price when you do not know the future of the real estate market.  You have a 50/50 chance of loosing or winning out on the deal.  Not only that; on the Lease/Option you have a 50/50 chance of them accepting the contract.
 
What is the difference between a Lease/Option and a Lease/Purchase?
Lease/Option is when the tenant leases the property for a certain period of time and then has an option to buy the property or move out.  A Lease/Purchase is when the tenant leases the property for a certain period (similar to the option but here is where it differs) and then has to purchase the property by a certain time period.  There is NO out for the tenant/buyer at that point.  They have to buy or be in breach of contract.  Yikes.
 
What does a Real Estate Lawyer say about Lease/Options or Lease/Purchases?
Joseph J. Barone, President of Talon Title Agency of Central Ohio, Inc. sent me this document for my clients to consider when approachng this subject.
 
I'll quote from the attached document and leave you with this last thought… "These transactions are not for the faint of heart."