By Tom Branch, on October 4th, 2010 
Some time back a friend of ours had the pleasant opportunity of having dinner with his friend Earl Nightingale, the famous radio personality and producer of self improvement cassette programs.
Earl made his life’s work studying successful people and how they achieved their successes. Our friend had long admired Earl for his ideas and philosophy.
And on that occasion, our friend asked him what advice he would give his young son if he had one. What, based on his vast experience and knowledge, would be the one thing that would help his son ensure success both in business as well as in his personal life.
Earl said to our friend, “You know, I have often thought about that very question. And after all the years and all the study, I’ve come to the conclusion that your success in life, or in business for that matter, can be boiled down to one thing. That is, your rewards will always be in direct proportion to the amount of service you render.
“You only have to look around,” he said. “The people who serve others, prosper. The people who don’t serve others, don’t prosper. And you can tell just how successful a person is by the amount of service they render to others.
“The problem,” he continued, “is that unsuccessful people either haven’t learned that great secret, or they don’t apply it.”
“The successful people are the ones who develop the habits of doing the things that unsuccessful people don’t do for one reason or another.”
By Tom Branch, on September 29th, 2010  Walt Disney was a man of extraordinary vision and foresight. He knew what it would take to be successful in his chosen area of business, and he developed a formula that expressed his philosophy and could be used in any type of business to ensure its success. He called it his “Law of Unlimited Abundance.”
Walt said that it didn’t matter what type of business or endeavor a person was engaged in, they could be successful and enjoy unlimited abundance if they would simply follow his formula or plan.
Walt Disney’s “Law of Unlimited Abundance” states that to be successful, you must, “Do what you do so well, that the people who see you do it will want to see you do it again, and will bring others to see you do it.”
That’s the credo that built the enormous successes of Disneyland and Disneyworld. And in their arena of operation, they stand alone.
Disney’s law can work for you too!
It can be similar in your business world too. You see, the key is to “do what you do,” not what someone else does, but what you do. You don’t have to copy. You simply do your job the way only you can. That’s what makes you special, sets you apart from others, and attracts people to you.
Then you do what you do “so well,” that is, provide the type of service your customers require, want, or need in an exceptional manner. It leaves no room for mediocrity, it’s “so well.” That implies exceptional performance.
And if you will do that so “the people who see you do it,” (your customers), “will want to see you do it again,” (that’s repeat business), “and will bring others to see you do it,” (that’s referral business), you too can meet with unparalleled success.
Because so few people perform in business that way, it sets you completely apart from all the competition. Customers can’t get the kind of service you offer from anyone or anywhere else. It’s simply not available anywhere, at any price.
So by default, you become unique, different, and difficult to replace. And it will be reflected in your business and your income. It has to. There’s no choice. It is a basic, eternal law of nature. You simply reap the results of what you’ve sown.
By Tom Branch, on September 27th, 2010 
It’s been said that you can tell how professional a person is by the size of their income at the end of the year.
And you can tell exactly how valuable the service you perform is by how much people are willing to pay you for it. If you do the same job that everybody else does, and do it no better than the way they do it, you can’t expect to earn more money or be considered any more valuable than those other people.
You see, the market, by nature, will pay superior rewards only for superior goods and services. It will pay average rewards for average goods and services, and it will see that inferior rewards are paid for inferior goods and services.
In other words, you will be rewarded in direct proportion to the value you provide your customers. It’s inescapable. That’s the law of nature.
Now, if the products and services you sell or provide are similar in coverage and price to everyone else’s (and most of them are), then the difference between you and other people in your position has to be in the type and amount of personal service you provide your customers and clients.
This then has to be the area you excel in–it becomes your competitive edge.
By Tom Branch, on September 24th, 2010 
We completed our first short sale back in 2005 and five years later short sales have become 70-plus percent of our listing business. During that time we authored and published, “Avoiding Foreclosure – The Field Guide to Short Sales” which is the anchor of our marketing strategy for short sales. The book was not designed to educate real estate professionals. It was designed to help homeowners and homebuyers understand the short sale process.
While a few agents purchased the books for their own use, many were concerned that their clients would simply contact us. Those same agents asked us to produce a professional edition that they could use in their businesses. They asked for it and we delivered!
Now available – an unbranded version of “The Field Guide to Short Sales” book.
It has been re-titled “Avoiding Foreclosure – The Consumer Guide to Short Sales” and our contact information has been removed. Room has been left on the back of the book for you to label it with your contact information.
This is a great marketing tool to give to your potential short sale clients and almost always secures the listing!
Click here to visit our website.
By Tom Branch, on September 22nd, 2010 
Here’s an interesting new bill introduced by Congressman Chaka Fattah (D-PA). It appears to call for a one percent transaction tax and the eventual elimination of individual income tax.
According to the Congressional Research Service, the Act proposes the raising of sufficient revenue from a fee on transactions to eliminate the national debt within seven years and the phasing out of the individual income tax. The Act:
• Amends the Internal Revenue Code to impose a 1% fee, offset by a corresponding nonrefundable income tax credit, on transactions that use a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument.
• Defines “transaction” to include retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions.
• Establishes in the legislative branch the Bipartisan Task Force for Responsible Fiscal Action to review the fiscal imbalance of the federal government and make recommendations to improve such imbalance.
• Provides for expedited consideration by Congress of Task Force recommendations.
• Repeals after 2017 the individual income tax, refundable and nonrefundable personal tax credits, and the alternative minimum tax (AMT) on individuals.
• Directs the Secretary of the Treasury to: (1) prioritize the repayment of the national debt to protect the fiscal stability of the United States; and (2) study and report to Congress on the implementation of this Act.
Click here to read the entire bill.
It’s an interesting concept although it appears to add substantially to the tax liability of Americans through 2017. It’s basically a National Sales or Value Added Tax.
What are your thoughts on such a tax? Clearly it would impact homes sales as the one percent tax would have to be paid on the sale or purchase of real estate.
By Tom Branch, on September 17th, 2010 
It’s REALTOR® Safety Month again. Time to stop and take a look at the ways we do business and to find ways to reduce our personal risk.
I was talking to a member of the local association and he was advocating that every agent should have a concealed handgun license and carry while working. I am a firm supporter of the Second Amendment, support the right to carry, and I am personally licensed. I have 21 years of military training and education on the Use of Deadly Force and some 30-plus years of experience carrying and handling weapons. In those 30-plus years of carrying as a civilian, I’ve only drawn a weapon twice and never fired a shot other than my monthly trips to the range.
If agents want to get licensed and carry, I’m okay with it. But they have to understand the huge responsibility and liability that go along with that choice. I’m also a firm believer that they should do more than simply get licensed and start carrying. Time should be spent at the local range getting familiar with the weapon. We hear all the time about accidental discharges. There’s no such thing in my opinion. I call them negligent discharges. Weapons safety is always critical but even more so around other people.
Personally I never want to have to shoot someone. Escape is always a better option. You have to be alert and active. Always look for a way out before you go into a situation. I tell agents leaving the building at night to grab a cup of hot coffee from our single serving machine on the way out. If confronted, splash the scalding coffee in the face of the attacker and escape.
One of my buyer’s agents was meeting a client at one of our properties. When she got there the client known to us was not around but a man approached her saying she was the client’s spouse. He want to go in and take a look before his spouse arrived. My agent was quick on her feet and told him she would rather go through the “Information About Brokerage Services” form and get that reviewed and signed while they waited on the client. The client did show up and all was okay. The agent did the right thing. She stayed outside where she could escape if something went wrong.
I think situational awareness and looking for the escape is far better than any kind of armed confrontation.
Would you carry a firearm while working?
By Tom Branch, on September 16th, 2010 
I’ve written about the ineffective nature of Open Houses in our market place on more than one occasion. I’m beginning to think that Broker Opens are even less effective these days.
We decided to hold a Broker Open today on one of our listings. We sent out over 13,000 emails (there is company that emails agents in our market), listed it in the MLS as a broker open, dropped off flyers at the offices closest to the event, and had a couple of our business partners with huge Facebook followings advertise it for us. We offered a free lunch and a drawing for a $100 VISA card.
Today we picked up the food, placed signs out to direct people to the property, set up our inflatable RE/MAX Balloon on the front lawn, and got the home into “Show Ready” condition.
One of our team agents and I proceeded to sit around and look at ourselves for two hours. We did have one visitor. The insurance guy stopped by to measure the house and take some exterior photos. At least he had a good lunch!
I try to make it out to Broker Opens held by agents in my office. It’s more of a courtesy than anything else. Do I really need to drive out, have a light lunch, and look around a property?
I’m beginning to think that the Broker Open is dead here. Do we really need to hold homes open for agents to see these days? I can see this working in smaller markets where everybody knows everybody and there is a limited amount of inventory. However, there are about 20,000 agents and who knows how many homes on the market in the greater Dallas area.
With great photography, virtual tours, and video; agents and buyers can both get a good look at the property without ever leaving their homes or offices. Now you really can’t see everything about a home this way, but I’m convinced this is one of the primary reasons we’re seeing a decline in the effectiveness of open houses-both public and broker.
Thoughts?
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