Monthly Archives: March 2019

Steve Jobs & Innovation

“Innovation” is funny when looking in the rear view mirror.

For instance, here is a video from 2007. Steve Jobs is introducing the first IPhone and the gasps and applause from the audience are truly fantastic.

This landmark keynote address was less than 12 years ago.

Think about how different things are today vs.12 years ago.

How much of your business have you changed over the last few years?

Are you still using the same tech, profile photo or business card?

Have you gone to any conferences lately to learn some new strategies?

How many of us are guilty of doing the same thing we were doing 12 years ago?

Are you still mailing postcards that don’t list any of your social media?

Have you tried a different vendor for your lists?

Do you regularly test new forms of advertising, online and offline?

When I step back and look at my business, I try to test a few new things every year.

Sometimes they are successful.

Sometimes they are massive failures.

You might find a few new lead sources tonight at WREIA. Feel free to test a few sources starting tomorrow.

There is so much business out there right now in our world of real estate.

I hope I see you tonight.

We are going to be talking about “Unusual Lead Sources for Real Estate”.

Join us at WREIA this month and you can learn from REAL PEOPLE having REAL SUCCESS in Real Estate.

Have a great Monday!

John Peterson
Founder, Washington Real Estate Investors Association

Remember – Wholesalers – bring your deals to share with the members!

Real Estate Boom or Bust This Spring?

If you like articles with lots of numbers – this article posted on Forbes will be thrilling.

The author makes a strong case for a solid season this spring. Which is good, since it’s almost April already!

One standout fact in the article was about SentriLock. SentriLock is the company behind those fancy electronic lockboxes that some Realtor’s used to struggle with non-stop.

Without giving any solid evidence via numbers, he writes this:

In fact, the number of openings of lockboxes – where a Realtor would access a key before unlocking a home – has been trending up. NAR’s SentriLlock data reading was measurably higher in January and February compared to the second half of 2018.

After a slow fall season, I was starting to get a little concerned. Some of us were wondering “where did everyone go?” But, over the last few weeks, things have certainly picked up again.

Maybe it’s the slightly nicer weather, the time change and a general overall improvement in mood. Whatever it is, it seems to be loosening things up and it’s bringing people out for an afternoon walk-through and the weekend home tours.

It’s important to track the numbers, but it also takes some moments “out in the wild” of the market to see how things are going in real life – today.

Most of those numbers quoted in the article are summaries of what has happened over the last few months. It’s important to notice when things start to turn – you need to be ready for it.

If you are waiting around for “numbers to come out” before you decide to list your latest project, you run a higher risk of missing the season.

It might be me, but it certainly “feels” like the peak of the season is getting shorter and shorter every year.

Way back when, it seemed like you had a few months for the peak of the spring selling season. You could rely on February through the middle of June for a strong set of buyers.

The last few years it seemed like the “peak” only lasted a few weeks.

Don’t get me wrong – maybe that’s a sign that things are returning to “normal”. The chaos of the peak season brings multiple offers after every open house, escalation clauses etc.

Those are great situations when you’re selling a house. It’s not so great when buying a home.

One of the things I don’t want you to miss is the meeting this month at WREIA.

At our March WREIA meeting tomorrow we will talk about unusual lead sources. Most of these sources require you to have the ability to connect with people.

Come out tomorrow, Monday, March 18th, and hear what is working (and not working) across the DC area.

What’s not working is not having the right people in place to finish a flip project in time for the spring selling season.

What is working is being ready to sell now that the peak season is right around the corner.

Join us at WREIA this month and you can learn from REAL PEOPLE having REAL SUCCESS in Real Estate.

Happy St. Paddy’s Day and see you tomorrow at WREIA!

John Peterson
Founder, Washington Real Estate Investors Association

Oh, and Wholesalers – bring your deals to share with the members!

A Timeless Secret To Success

Just a quick thought from notes I jotted down a few years ago.

“The secret to success is not in fighting the old ways that don’t work, but in putting your energy into the new ways that are working.”

I don’t know where I found it, or heard it. But it seems like timeless words of wisdom.

We all know the old saying “The only constant is change.”

Here are just a couple instances of big businesses who didn’t embrace change even though they were the dominant leader in their space.

Toys R Us didn’t embrace the world of e-commerce fast enough. Instead, they got lazy and pinned all their hopes on a relationship with Amazon as their exclusive online vendor. Toys R Us filed for bankruptcy in 2017. Amazon continues to innovate and test new tactics and business models.

Did you know that Kodak actually invented the digital camera? Actually, it was a Kodak engineer, and the year was 1975. Kodak could have led the digital imaging business, but instead they also failed to innovate inside their business and clung to their old print business. They filed for bankruptcy in 2012.

No matter how big or small your business is, you should always have some room left over in your budgets to testing something new.

And when I say budget it doesn’t have to be a monetary budget.

Leave room in your time budget as well.

I see a few people every month who seem like they are about to have a nervous breakdown. They are always talking about how much they have to do, and how they need another 4 hours every day just to “keep up”.

It’s interesting. I also notice that those people are the exact same people who are losing client each month.

I would imagine that if these “busy” people tell enough clients how overbooked they are, at some point those same clients are going to feel bad for them and take their business elsewhere to help take the pressure off.

If you’re not overbooked, join us at our WREIA meeting tomorrow night.

We are going to be talking about “Unusual Lead Sources for Real Estate”.

And yes, I will be telling the story about the lead I got from the drug dealer.

Join us at WREIA this month and you can learn from REAL PEOPLE having REAL SUCCESS in Real Estate.

And remember – “The secret to success is not in fighting the old ways that don’t work, but in putting your energy into the new ways that are working.”

Happy St. Paddy’s Day and see you tomorrow at WREIA!

John Peterson
Founder, Washington Real Estate Investors Association

Wholesalers – bring your deals to share with the members!

“That deal I got from a drug dealer was pretty interesting.”

So I had this conversation a few days ago at my office.

Quite frankly, I hadn’t thought about this particular “deal” in a long time.

“Unusual lead sources. That’s an interesting topic. Have any good stories to share with me before Monday?”

“Sure,” I replied. “The deal I got from a drug dealer in DC was pretty interesting. And, it turned out to be a good deal.”

The story is pretty good, and it was a referral from a drug dealer in DC – who I never met.

When we finished I was told “You have to share that on Monday.”

People are always watching and listening – whether you are paying attention or not.

This is even more true in tough parts of any city.

People from these “tough” areas grow up knowing they have to look over their shoulders for any trouble.

Parents in DC were constantly telling their kids to “stay out of trouble” back when DC was the drug and crime capital of the country.

Back then, it seemed like drug dealers ran the city. You had to be careful in some parts of the city 24 hours a day.

I was younger and some of my friends would quickly add “dumber as well” when this story took place.

The lead on this property happened because I was never afraid to connect with people – no matter their station in life.

If you have left over biases from your childhood, or were raised with hints of racism I would guess you are going to have limited success in our business.

Moving forward, as our county becomes even more diverse – as it always has – you are going to have even more trouble.

Here is a hard truth for some people – DC is already a very diverse city.

Our unique metro area has people from every country in the world. You just never know who you might bump into. Language barriers still exist in some parts of our area.

If we all looked, talked, dressed and acted the same – how boring would that be?

In any group having people that have a weird sense of humor, or are a bit eccentric make any community feel like it’s more alive.

Do you know how to connect with people who are different from you? Can you connect with people who speak different, dress different or have different customs than you are used to? And if they are different, are you still willing to help them?

I hope so.

I see this situation a lot-

I happens to so-called “white-collar” people who say they will never go into some parts of the DC metro area.

On the flip side some people won’t go into “snooty” neighborhoods because “rich people” don’t need help.

Both of these people are crossing out millions of people – because they want to feel comfortable and only deal with people from their neighborhood.

Back to this story at my office.

Had I looked down on people in this particular neighborhood I never would have made a nice profit. Had I looked down on people because they were “drug dealers” or came from “bad” neighborhoods I would have missed out on 100’s of thousands of dollars.

The entire process got started with one simple act.

I’m going to tell you the whole story Monday night at our March WREIA meeting.

At WREIA this month we will talk about unusual lead sources. Most of these sources require you to have the ability to connect with people.

Come out on Monday, March 18th, and hear what is working (and not working) across the DC area.

What’s not working – looking down your nose at someone because they are different from you.

What is working is connecting with and genuinely trying to help people.

Join us at WREIA this month and you can learn from REAL PEOPLE having REAL SUCCESS in Real Estate.

Happy March and see you soon!

John Peterson
Founder, Washington Real Estate Investors Association

Oh, and Wholesalers – bring your deals to share with the members!

Stop asking ‘How are you?” – Do this instead.

We have had regular WREIA meetings since 2001. So, for 18 years we have put ourselves “out there” in the DC area and tried to share with our community what we see working (and not working) in our area.

A lot has changed in 18 years.

But one thing has never changed.

You need to connect with people to be successful in this business. For that matter, in any business.

I think we are getting smarter. It’s getting easier to spot the “fakes.” Technology is helping us in some ways, and hurting us in other ways.

Sure, we have the ability to “connect” with friends on Facebook at any hour of the day. But, sometimes that “always on” ability can hurt as well.

Here is an article recently posted on CNBC about connecting with people. It’s all about deeply connecting and not just making “small talk”.

The opening paragraph gets your attention:

“”How are you?” These are the three most useless words in the world of communication. The person asking doesn’t really want to know, and the person responding doesn’t tell the truth. What follows is a lost opportunity and meaningless exchange with zero connection.”

If you are guilty of this bland opening line (like I have been) it’s important to find alternatives to this awkward conversation starter.

Having better and deeper conversations is just a small part of what we will be talking about at WREIA this month.

Learning how to get better at connecting with people is crucial to your success in this business. It’s why we have to address it right up front.

At WREIA this month we will talk about unusual lead sources. Most of these sources require you to have the ability to connect with people.

Come out on Monday, March 18th, and hear what is working (and not working) across the DC area.

What’s not working – opening a conversation by asking “How are you?”

What is working is connecting with and genuinely trying to help people.

Join us at WREIA this month and you can learn from REAL PEOPLE having REAL SUCCESS in Real Estate.

Happy March and see you soon!

John Peterson
Founder, Washington Real Estate Investors Association

Oh, and Wholesalers – bring your deals to share with the members!