Real Estate...and Other Things of Valuewith Yossi Feigenson
It is now one year later. One year from when the first tremors of what has turned into our latest and greatest (not literally) financial and economical malaise made their presence felt. Lehman Brothers, a giant, century old, investment bank was allowed to fail. Others, such as AIG, Merrill Lynch, Washington Mutual and Citibank were spared this death sentence and were bailed out by us; the tax paying public. I don’t even want to speak about them, because, they are SO last year. Or, are they? Has the destruction they have wrought on our economy, on the real estate market, and all the heartache their collective stupidity has caused taught us anything at all? Is society at large and us individuals any different from a year ago? If not, all I can is: It’s a crying shame; an opportunity for learning, for growth and a positive shifting of our value system completely wasted.
Have things changed on Wall Street? From my vantage point; not a tiny bit. All you read about is how Richard Fuld, ex CEO of Lehman Brothers is complaining that he can’t get a fair shake. Everyone is down on him. The concept of taking responsibility has entirely eluded him. Bonuses are up and flying again among upper management types. The surviving few super banks (surviving with our help, of course) are right back in the game taking risk and churning out profits like it’s 2007.
But, Wall Street we be Wall Street, so enough about them. For those of us who are not CEO’s of major banks, have we experienced and change? I believe that we are in a time where some good old fashioned values can trickle their way back into the consciousness of our society. They may be small things but they make a big impact: I have had many real estate brokers tell me that now more than ever their expertise and ability to be a real educator and facilitator to their clients is their greatest asset, instead of merely being out there to make “another deal”. As my good friend and author, Douglas Castle, (he’s a long story) has said to me: “it’s time we become educators not salesmen”.
People are not beginning to listen to their inner voice and their intuition with regards to business and investment decisions. The monkey-see-monkey-do attitude that has prevailed upon our psyche for so long is waning just a bit. There is much more scrutiny and in depth analysis in today’s transactions. It sure makes it tougher to make a sale or sign a lease, but it’s the right way, and in the long run will engender more long term relationships between provider and client.
Now I get to the fun part of the discussion: Have people changed in their outlooks? Have they had a paradigm shift as to the important things in life that have lasting value? Have people begun to see money for what it is and what it can bring, but, equally importantly, for what it is not and what it can’t bring?
The Importance of Human Relationships
Throughout history they have always been crucial in the forming of countries, signed treaties, big business mergers. But in our world of simply looking for the next sale we have forgotten that a sale today will do nothing for you in five years, but a relationship can yield dividends for years to come. Adam J. Kovitz, Chairman of The National Networker, has written extensively about this concept called relationship capital. That there is an investment and withdrawal system and a mathematical push and pull equation of relationship capital. The more you do for someone, the more likely it is you will get something in return. This brings me to my next idea; actually doing something for another, without the promise of getting anything in return. In some crazy, cosmic counterintuitive way, in a world where we want-want-want , it is actually thrilling to refer to a friend a piece of business or to be helpful with your resources.
Have we learned how to have a great conversation; about ideas, thoughts, philosophies, stuff that is outside of the daily business grind?
Have we learned how to enjoy the simple pleasures of a run in the park or a bike ride across a bridge?
Have we learned that it’s not the price tag on something that gives it its real value?
Have we taken the opportunity to discover a hidden talent that may have been lying dormant for many years?
Have we found some new friends and reconnected with old ones?
Have we recommitted to reading, exercising and studying?
The events of this past year have presented us with an opportunity to see the world in a different light, and possibly our own place in it. I only hope that we take advantage of this gift and continue to grow in all dimensions.
For more information, please visit Yossi's TNNW Bio.
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1 comment:
I don't want to comment on the banks or the economy in this reply; enough has been written about that. From my vantage point, I am seeing a shift in perspective. People are making changes in lifestyle, albiet required in some cases, spending more time with family, doing more with less, and looking at what is truly important to them.
When I present talks on life-work balance more people are asking questions and applying what they are learning.
People are questioning whether they are pursuing what is valuable to them and how to make the necesary changes if they are not. Steve Covey refers these as guiding principles that represent true north.
By integrating our values, we understand where we are and where we are going. In many cases the best way to get there with the help of others. Having open and honest communication based on a foundation of trust enables us to create these relationships. The first place to start is with ourselves. Are we working from the inside out?
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