REAL ESTATE ...AND OTHER THINGS OF VALUE: Sometimes: Just Walk Away

Real Estate...and Other Things of Value

with Yossi Feigenson

I have finally arrived. I am now among the legions of great authors, novelists and essayists. I can put my name alongside them. What a monumental achievement to be in this illustrious company. Nope, I wasn't discovered up by a publishing house and given a three book contract. Nor have I written a groundbreaking bestseller. For the last few weeks I have merely suffered a severe case of writer’s block. I simply refuse to write. It’s not a lack of ideas. Not a lack of subjects to write about either. In simple words, it’s an intrinsic inability to put pen to paper.

I recently travelled on a lengthy plane ride. And, I had visions of writing deep into the night, high above the Pacific Ocean, while my fellow passengers slept. I had pad and pen all ready. I would fill up volumes. My thoughts would flow and the prose would be like nothing I had written before. Alas, nothing happened. Not a single word was written. Once at my destination I thought I would write about all my experiences; to record and document all I’d see. Not a word. I thought when I would return I would write about all the wonderful things I'd seen and felt during my travels; Still nothing. For full disclosure, I did scratch out one article but that was due to the fact that I have a writing obligation to The National Networker, who so graciously publishes me.

So how do you break the spell? And what does this obstruction mean and what does it represent?

I've always been told when you’re a bit frozen and not sure of how to proceed, just do what you know. Regardless of how you may think at the moment, action is the most important thing. Just push through whatever is blocking you. Be it fear, laziness, disinterest, disillusionment. Get through it.

What to write about? It doesn’t matter. The important thing: just write. Don’t think about it, simply write from the heart.

Lori Williams, an attorney from Michigan, who is one of my “online networking friends”, wrote this to me recently in an email regarding writing: “Yep, I believe that type of writing is inspired and authentic and that’s why it flows. Not everyone will relate to it, but you/I/any author has done our part when we write from the heart.” When you feel blocked, allow it to come from the heart, the words will flow much better and often write themselves. But, what do you write about?

Perhaps, here is the problem. There are often things that are being experienced that don’t want to find expression in words. Maybe, you’ve run out of inspiring and uplifting words? There may be confusion, and the point of writing is to enlighten, not to confound.

For many, across many industries, it’s been a very trying 12-18 months. I know this because I'm an avid networker and meet lots of professionals and sales people. I’ve heard many stories from a wide range of professionals; attorneys, architects, real estate brokers, mortgage brokers, retail store owners, restaurant owners, manufacturers, consultants, and just about anyone across all professions, about how this has been a period of time that far exceeds any previous difficulties in the past.

In my writing I like to look at a challenge, see it for what it is and find ways to use it to catapult us to more action, to improvement. To see a difficulty as a blessing of sorts, one that is placed there for us to learn from and grow through. That's the motto I live by.

However, you don't always have the words. When you've exhausted all words, when every conceivable idea has been tapped into, when you feel dry of any resource to improve what is the next move? The same question can be asked about your business. What is the next move?

Jump ship? Not entirely practical. If you are a bit older than fresh out of college, as some of us are the job market isn’t so hot. Your amazing skill sets don't count like they used to.

At this point the one thing left to do is reach deep within ourselves and understand that there are things that are beyond our control. We need to gain the understanding that we don't have all the answers; that as much as we try, if it’s not there it’s not there.

After hundreds of hours of thinking, meeting, strategizing, coming up with new approaches to marketing, new approaches to clients, new systems and renewed commitment to getting “out there”, you realize that this may a time period that is beyond what you can change.

How long can you go on questioning and doubting yourself? That's an unhealthy counter productive behavior. Negative thinking and constant “self analysis” leads to too much inward examination and not enough outward action. Becoming too self obsessed with what you may be doing right or may be doing wrong, especially when results are at less than optimum, can lead to complete disillusionment and ultimately burnout; from which it’s tough to recover and regain your vitality.

In discussions with several people whom I admire and hold in high esteem, this is the message that we need to heed: You need to stop obsessing about each and every thing. You need to stop letting your mind be so overwhelmed with everything you may be lacking. Your conscious mind needs to take a rest from it all. Allow your inner voice to begin taking its place. Somehow, keep doing what you know works. And allow for something to unconsciously happen.

Sometimes, when I’m anxiously waiting for a phone call from a client or a business associate, regarding a business matter, I simply go out for a walk, stop focusing on it. Inevitably, each time I do that the phone rings.

So I needed to put the pen down for a while. Something was telling me to step away and not think. It was time to NOT try and make sense of everything; to NOT attempt to find all the answers; to NOT try and uplift and motivate. But rather, to let it be. Only after that can you come back and pick up where you left off, with, perhaps, a new perspective, or at least, some renewed vigor.

For more information, please visit Yossi's TNNW Bio.






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REAL ESTATE ...AND OTHER THINGS OF VALUE: Sometimes: Just Walk Away

REAL ESTATE...AND OTHER THINGS OF VALUE: What Have We Learned?

Real Estate...and Other Things of Value

with 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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REAL ESTATE...AND OTHER THINGS OF VALUE: What Have We Learned?

REAL ESTATE...AND OTHER THINGS OF VALUE: Merry Path of the American Dream

Real Estate...and Other Things of Value

with Yossi Feigenson

We’re all waiting for something. We’re looking and hoping for the signs. Has it been declared? As of late, the rumblings are beginning to get louder, more frequent, and are coming from better sources. Yes, indeed, it seems that the recession may be finally releasing us of its grips, of its shackles. We can now begin to feel more confident to get back to the way we used to live. We can actually go and spend money, free of guilt, (provided that there is some available) and continue on the merry path of the American dream. We are ready to put this nightmare behind us.

If you are paying close attention; and I really hope you are, you will notice I used a keyword (keyword being a very keyword these days). That magic word is “feel”. We want to feel that things are getting better. We don’t necessarily have any logical understanding or hard scientific and numerical data that supports this feeling.

Emotion driven world

We may not like to admit it, but many, or all of our decisions we make, and the way we view the world, are with our EMOTIONS. Of course, reasoning, intellect and common sense all play a role, and we wouldn’t function without these intellectual faculties, but, too often, the primary vehicle that leads us is emotion. Is it a wonder that for most of us when we buy or sell a stock we uncannily buy at the exact wrong time and subsequently sell at the precise time we should hold? If this doesn’t sound familiar, than there is a good chance you are like my good man, Warren Buffet, who is a fairly good investor; he buys low and sells high. There is, however, the last time I checked, only one Warren Buffet, and perhaps a smattering of students of the Warren Buffet system.

What does Warren Buffet know or posses that most of us don’t? Is he simply much smarter than everyone? Or has he mastered a particular skill and idea that is the most difficult and fleeting things to attain.

To gain some insight into why organically we are this way takes lots of hours of study of certain texts and the human psyche. Principally, the idea being that we are emotion driven race, and an emotion led universe. Sure, we posses intellect. We think, we speak, we make decisions, we have opinions, we like, dislike and choose one over another. But, the driving force behind much of what we do individually, and as a society are our emotional attributes.

Let’s look at our most recent 10 year boom and subsequent bust. In particular, in Real Estate: When the general trend is looking up, people will jump at any opportunity, often completely disregarding the inherent risks. While, when the trend is the other way, people will stay away even though the deal may be sound and ultimately extremely profitable. As the legendary John D. Rockefeller once said, "Buy when there is blood in the streets." This implies that you should buck the prevailing trends. It is uncanny how few posses the discipline to follow this rule. Those who do are the next generation of millionaires. It’s that simple.

Fear and insecurity

Fear has been the prevalent emotion of our current crisis. Even for those whose situation has not changed much, they are paralyzed by a certain sense of fear and trepidation. An entrepreneur is more afraid of going into a new endeavor, even though the more astute move would be to go into business in a downturn.

Manifestation

People who have the ability to rise above emotion, and strictly use intellect as their driving have always taken advantage of our emotions. We see this clearly in every downward cycle there are people who see past the current muck and are picking up assets at pennies on the dollar. Using intellect without too much emotion allows you to see beyond the current situation and see what can come out the other side.

The Good news

The good news is that just as we got into this mess we will get out of it with similar irrationalities. When people begin to have confidence again in their own situations they will begin to spend and the turnaround will really happen.

Wouldn’t it be nice to alter this cycle of us being led by our fears and emotions? We do have the smarts, we do have the understanding, but it will take quite a bit of exercise on our part to make decisions that are coming from our intellect.

How does one attain this type of power of the mind? The old phrase “mind over matter” means that in the face of any challenge the mind can overcome all obstacles, including the inclination of our own emotions and insecurities.

If business and sales are slow, and the overwhelming emotional fatigue has set in, we often feel sapped of our capacity to think and make sound business decisions. It is then imperative to identify it as such and take the steps to get the emotions out of it. The feeling of disillusionment will lead us to make decisions that will ultimately hurt our business.

Sounds impossible? It’s not. But, it takes effort and lots of grinding, gut checking and accountability. There is no easy, straightforward approach one can take. But there is so much information out there, and many professionals that can help with the process. But the first step comes from within us; as it always does.

For more information, please visit Yossi's TNNW Bio.

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REAL ESTATE...AND OTHER THINGS OF VALUE: Merry Path of the American Dream

REAL ESTATE...AND OTHER THINGS OF VALUE: Your Haircut, Your Coffee; Exactly the Way You Want It

by Yossi Feigenson

You know what I love? You’ll laugh if I told you. The one thing that gets me excited month after month, and is in some ways the highlight of my month: My haircut. When I sit down in the barber’s chair, and he wraps that cloak around me, something surreal begins to happen. I immediately relax. I take a deep breath, and the release of all my built up tension is palpable and instantaneous, and for 30 minutes or so I have the feeling that everything is right with the world.

If you’re still reading, and wondering if I’m completely out of my mind, allow me to explain. What I have just described is a business relationship in action. It is a relationship that is clearly working.

We are inundated with this concept of relationships; we need to build them in order to do business; we need to cultivate relationships with our clients; it’s all about the relationship, and yet, we often don’t grasp the essence of the relationship.

What exactly is a relationship? And more importantly, what does is look like and what does it feel like? How do you know if you have created a healthy business relationship, one that will keep your clients to you?

I recently posted the following question on Linkedin: Are your transactions relationship driven? How important is the like/trust component in a business relationship?

The vast majority of the people who responded claimed that relationships are an indispensable component of any transaction. I think we all intuitively understand that. I don’t intend to discuss the importance of relationships in business or to bring proof of the consequences of the absence of them; rather I want to speak of the texture and feel of what it means to be in such a relationship.

Here is one response to my query: “My local garage (5 minute walk from where I live) services cars, but I travel 8 miles to have my car serviced elsewhere, but this is purely down to the way the mechanics have talked to me in the past...

They may well be competent to do the work, they may well be the same price or cheaper, but I don't expect or like being treated in that way.

I would rather travel the 8 miles and pay a bit more.”

This isn't about skill-set or ability; this is about likeability/trust.”

Another fellow answered with the following analogy: “I have an unlimited amount of choices where to get coffee but I only go to one shop and only to one clerk. This coffee preparer knows my drink and precisely how I enjoy it.”

It is this comfort level that his desires are being met that drives his decision to get his coffee in this particular place. This is crucial to understand. He can get coffee anywhere; possibly higher quality and even cheaper, but he chooses this place. This barista, or whatever they call them these days, mastered the relationship game by understanding this person’s needs and insuring that they are me.

Do you ever wonder why two salesmen, working side by side with similar skills, knowledge, lead base, work ethic, and support, can see vastly different results? I wonder about that a lot. There is one crucial element to deal making that must be mastered or else failure is the only destiny; if you can make a client feel that through his relationship with you his specific needs will be taken care of you will win more often than you will lose.

A relationship occurs when you can be trusted upon to have the intuition to know what the client wants. The magic words that any salesperson wants to hear are: You understand my needs, you know what I want, I will stick with you even when others come calling. To me, that is the most flattering remark a client can bestow.

An intimate understanding of your clients’ needs is the most crucial element in any transaction. The method of getting to that will be discussed in a future column.

You now have some insight as to why my monthly haircut is such a relaxing and therapeutic experience for me. My barber, who has been cutting my hair for many years, knows exactly how I like my hair to be cut. I sit down and don’t need to say a word. I’m confident, comfortable and relaxed that he knows what to do. I can’t possibly leave him.

If you can demonstrate that you REALLY get what a person wants you can increase your success ratios way beyond anything you’ve seen before.

For more information, please visit Yossi's TNNW Bio.


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REAL ESTATE...AND OTHER THINGS OF VALUE: Your Haircut, Your Coffee; Exactly the Way You Want It

REAL ESTATE...AND OTHER THINGS OF VALUE: The Opportunity of Change

Real Estate...and Other Things of Value

with Yossi Feigenson

The images of crumbling conglomerates and the collapse of several multi billion dollar institutions are now firmly etched in our consciousness. I’m no economist but one thing has become clear to me; many of the old ways of doing things have gone and will be replaced by a new ways. We have witnessed it in the big corporate environment and it’s now trickling down to the smaller domain of businesses.

The untold story

For the most part we don’t hear about the smaller companies; brokerages, law firms, retail chains, and individuals who have now come face to face with the reality that business as they knew it has begun to change.

Here’s an illustration: A successful attorney, been working for 30 plus years. He has a degree from an Ivy League School, worked up the ranks in a large firm. Then he went into private practice with a group of attorneys. They’ve been successful through all the ups and downs of the market gyrations of the past. They never had a need for marketing or self promotion. Being busy with clients and caseloads was a privilege that came with the territory. They’ve never known a day without non-stop work. That is, until now. It’s as if a plug got pulled somewhere and the flow of activity has short circuited.

Stories similar to this are being told across the spectrum of many industries. The rules have completely been changed. Methods of doing business that have worked for so many for so many years don’t seem to work any more.

A recent story in the NYT sheds some light on how law firms are downsizing and dealing with the new economy. Over 10,000 attorneys have lost work in the past six months - in NYC alone - and still, there isn’t much work for the remaining attorneys. The article goes on to say “While the legal industry is hardly battling the existential threat that is facing, say, the newspaper trade, Big Law – especially in competitive New York – is facing a potential paradigm shift as fundamental as the one that has hit investment banks and the auto industry”. And I have heard this myself from many of my attorney friends.

This huge paradigm shift that has occurred in big business is also being experienced by each and every sales person out attempting to make a sale. A sales person of any industry is ultimately his own micro business within the structure of the company. So many things are changing in the way business is being done. So much of what we are accustomed to is simply gone.

Do you stay or do you go?

People are now faced with a serious dilemma. Do you continue along your plotted path or do you look for something else? When an individual has been educated, trained and spent what in some cases can be a lifetime, in a particular area of endeavor it’s not that simple to shift on the fly. It is rare that such a transition can be successfully accomplished. (I recently saw a story of an investment banker who got his massage license after being laid off by one of the huge firms. But that is the exception rather than the rule) It’s foolish and impractical to suggest to a substantial segment of society to go into entirely new fields.

In “The Dip”, a very popular, small book by Seth Godin, he suggests that it’s important to know when your business isn’t working any longer and, to have the courage to quit while ahead. (He maintains that “winners DO quit – when necessary -) This phenomenon of “The Dip” is reverberating throughout our entire economic system.

In some instances there may not be viable solutions to continue in an enterprise. As we’ve seen, that some of the big companies simply had to go. For others, the answers lie within the individual company or person. For a person, their age, career, skill sets, family situation, and financial circumstance will all be factors in determining a direction to follow. For a company, its assets, client base, products, personnel and capital will be some of the factors. To determine your own situation would require some real soul searching and stock taking of all of the components that make you what you are, and what you want to be.

Opportunity lurks, but how to find it?

Yet, as has been so often repeated throughout literature, business philosophy, from mom and dad that opportunity comes from the darkest situations.

Just a few quotations:

• A light will shine more in a dark room.
• It’s always darkest just before dawn.
• "The art of living is always to make a good thing out of a bad
  thing."
  Economist, E.F. Schumaker
• One man’s tragedy is another’s comedy.

I have recently attended several lectures delivered by leaders in their respective industries – namely real estate and finance- , and the common theme they discussed were that times of chaos and turmoil are also times in which new opportunities are present. Finding them, identifying them and pursuing them are the challenging parts.

Look deep within

The first and possibly most important thing to do is take a serious snapshot of everything you do. You will find the things that have been working, and things that haven’t. But the real surprises lie in the hidden, uncovered, untapped and unexplored areas that you are now forced to bring to the surface. As an individual you can uncover talents that have been lying dormant and begin to explore and incorporate them into your professional and business life. As a business you begin to find new approaches to marketing, product development, expenses, and overall brand reemphasis.

We all have a lot to figure out, and sooner or later we will figure it out. In conclusion I will leave you with a quote from one of our great presidents: “If we could first know where we are going whither we are tending we could better judge what to do and how to do it.” Abraham Lincoln; House divided speech, 1858.

For more information, please visit Yossi's TNNW Bio.




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REAL ESTATE...AND OTHER THINGS OF VALUE: The Opportunity of Change

REAL ESTATE... AND OTHER THINGS OF VALUE: Find Common Ground

Real Estate...and Other Things of Value with Yossi Feigenson

When the lights go out whom are you going to call? This phrase was quite popular back in the day. When we are in the need of a product or a professional service, who are we going to call? My guess is for the most part, we will call someone we trust. Obviously the person needs to provide a good service or product. What is less obvious are the underlying, subconscious reason why we choose who we choose. In many instances it will be a company or individual with whom we have a prior relationship. Or, you may ask a friend for a recommendation.

We naturally gravitate to things that make us comfortable. This certainly applies when it relates to people. The person who can put us at ease is getting our business. Think of your doctor, your lawyer, your accountant; would he be entrusted with to your deeply personal and private matters or your well being if you didn’t trust him or he didn’t make you feel comfortable?

Every system in our universe has its opposite. If this rule applies when we are looking for service then it should apply when we are looking for clients. It is inherent in the DNA of any good salesperson to go after each and every possible lead. What we often don’t do is take into account if this person is right for us and the probability of success. In an environment when clients and costumers can be hard to come by this seems a bit counter intuitive, but I feel that to properly build any business with loyal clients this is an important message.

The holy grail of any business is its loyal customers. We want people to be loyal to us; who will refer to us their friends and family. That can’t happen without a strong human bond.

I believe that to experience any measure of success; in business, or any other interpersonal relationship, there must exist, on various levels, a commonality on which the foundation of the alliance will be built.

What does finding common ground mean? Is it a mythical mysterious link or an extra sensory signal we should be looking for? How do we know when a person is the right fit?

The answer is not all that complicated. It manifests itself in the very way we transmit who we are to the world around us; via our interests, ideas, associations and beliefs. Let’s explore this a bit further.

Sharing a common interest is the most simple and basic path of connecting with another person. If you like what I like then there is a better chance of me liking you. How else can you explain 55,000 people screaming with the shared passion and fervor at a sporting event? These people all care deeply about the same thing. We all have the weather in common (at least most of us do, I love rain.) Golf, running, reading, popular cultures are among the many common interests and activities that operate as a natural link between people. I enjoy jogging in the park. Whenever I come in contact with another runner, we instantly bond over running stories and goals of running marathons.

Another connecting element is shared associations. Mutual associations are powerful ways of creating a comfort zone, more than most of us realize. Recently I walked into a prospective client’s office and noticed that her last name had a familiar ring to it. It turns out I was familiar with her son’s activities. I mentioned that I had heard of his work. The woman was honored and flattered. Needless to say, she became a client, and we continue to be friends.

Then there are the more delicate and sensitive subjects that are usually off limits early in any business relationship, and should only be broached when the relationship has advanced. These are issues of faith, ideology, political affiliations and personal religious belief systems. Unless the information is blatantly offered it is not one's place to ask. However, if the opportunity presents itself and you find yourself discussing these topics, they can go a long way to creating powerful connection.

Another concept that I would like to bring up is at the core of interpersonal relationships, yet, is often overlooked: The ability to carry a conversation, share thoughts and build a rapport. It is almost impossible to get anything constructive done between two people if they cannot carry a conversation. I believe that in prospecting for clients it’s a good habit is to engage people in conversation. I guarantee you that if you are interesting and you show the ability listen, people will not only give you a few minutes of their time, but will thank you for adding some light, levity and a breath of fresh air to their day. And it may very well be the beginning of a long and meaningful relationship. It’s important to step outside of the business at hand and talk about other topics. Often the off topic discussion can lead to far greater opportunities.

The final idea I want to mention encompasses all or most of what we discussed; that is mutual respect. It is of utmost importance to have a degree of respect for people with whom we interact and do business, and to be respected in return. If you get the feeling that you are being disrespected and your time and effort is not being valued and appreciated, then most likely this is not a good candidate for you. Don’t worry about the lost business opportunity. The habitual disregard for you will rear its ugly head at some point in any transaction. Have the courage to cut it off.

There is no one universal method of seeking creating connection. How you go about it will depend on your personality, background, interests and conversational skill. But it’s crucial to find the link. As for what is a good fit for me, I value the human experience in every encounter (at times to a fault). I’m open to share ideas, and, more importantly, to listen and learn from others.

Every interaction amongst people is an interview of sorts. Be conscious of it the next time you meet someone new and be open to the possibilities.

Yossi Feigenson is the managing partner of ORB Real Estate Professionals, a firm that specializes in office and retail leasing. They primarily represent tenants looking to either relocate into larger space, or new companies opening their first office. Yossi’s specialty is working with professional firms and small business owners across the entire spectrum of industries. He was formerly a partner in a risk arbitrage fund, specializing in Mergers and Acquisitions. Yossi is an avid reader and runner, and an aspiring writer. Yossi can be reached at yossif@orbny.com

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REAL ESTATE... AND OTHER THINGS OF VALUE: Find Common Ground

REAL ESTATE...AND OTHER THINGS OF VALUE: It's a Buyer's Market - Shouldn't I Buy?

Real Estate...and Other Things of Value with Yossi Feigenson

Note: Neither THE NATIONAL NETWORKER ("TNNW") nor any of its members, directors, officers, employees or authors offers investment, accounting, tax or legal advice. The article which follows reflects the opinion of its author, Yossi Feigenson, and should not be construed under any circumstances as an offering of advice of any sort. The views of this author do not necessarily reflect those of THE NATIONAL NETWORKER, or its owners.

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It’s a buyer’s market - shouldn’t I buy?

As a so-called real estate professional, I get this question a lot. People want to know when is the exact time for them to be in the market for real estate. Let me say up front and get this out of the way: I have no idea. I don’t have a crystal ball, nor am I a licensed prognosticator. What I do know, however, is that market conditions alone cannot be the lone factor in making that determination.

It seems to be the prevailing thought out there right now that its not a good time to be in the market, whether for a home, or office use. For proof, simply take a look at the number of closed transactions. They are way down from the numbers of, say, six months ago. In this latest run-up, grub-fest, land-grab people were grabbing every piece of real estate in sight, (or in some cases, sight unseen) with apparent disregard for cost, value, terms of deal and their own needs. And now, we have all frozen up like an Alaskan glacier (if such a thing exists). And me, the little real estate broker, is left to ponder, what exactly is going on here?

Research for this essay landed at my doorstep this past weekend in the form of an article in the NYT Real Estate Section, titled: “Don’t Even Say the Word”. It goes on to say that as much as real estate was such a hot topic of discussion back in the day, it has now become a dirty word.

Where has all the love gone?

To answer this quandary, I look at what drives people’s decisions in real estate, and often in other aspects of life. Instead of focusing on what will satisfy a person’s needs, and what they can afford people tend to follow the “monkey see, monkey do approach.

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Back in the day, when we were pitching an apartment building for sale, we often had to choke on it for a while. But, the moment, and I mean the moment, there was interest by one party, we couldn’t keep the vultures away. We often said when you’re close to a deal lock it up as fast as you can, because when one person wants something, everybody else does.

Our actions are too often guided by what the current conditions are feeding into our psyches. Instead of thinking about what we really need and can afford, we’re busy chasing the dream. When things are flying everyone is in the game and is willing to play no matter the cost. As we now see so clearly.

This particular form of playing on our emotions is what carried the market to the insane stratospheres it reached, and is precisely the reason we are in the stalemate we are in now.
Better judgment would lead to more efficient markets.

So, when is the right time to be in the market?

I believe this determination requires a two-step process: First, analyze from within, and then "play" the market accordingly. Be certain of what you need, what you can handle, and then, by all means, go into the market and negotiate the best possible arrangement.

--Yossi Feigenson

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REAL ESTATE...AND OTHER THINGS OF VALUE: It's a Buyer's Market - Shouldn't I Buy?

REAL ESTATE...AND OTHER THINGS OF VALUE: Greatness

Real Estate...and Other Things of Value with Yossi Feigenson

How can we define greatness? Is there even one single definition of greatness? How do we know if we have witnessed greatness? ? Is the ideal of attaining greatness something the common man can strive to achieve? And the biggest question of all; does everyone have the ability to achieve greatness?

Dr. Robert Solomon, a pioneer and leader in technology based thinking, has said that the population can be divided into three categories:

The first group consists of most of the population. For the most part, these are people who don’t have a strong sense of self awareness. They may be good, kind and productive, yet they don’t function with a sense of mission, a sense of purpose. These people are usually very influenced by popular culture. Their life is often lived by rote, they are not even sure they know why they do whatever it is they do. They are simply drifting along with the current of their circumstances. They also represent over 90% of our population.

Then there is the second group: People who have a sense of purpose to their lives. They plan for their lives and execute accordingly. They are usually well educated, and in the career of business of their choosing. They create their own circumstances. They are usually well read, have strong family ties, and have a sense of responsibility to community. This group represents 9.99% of the population.

This brings us to the last group. These are the elite. According to Solomon, you find about 1 in 10,000 people on this level. These are the uber humans. They are super achievers, leaders of industry and winners of various awards. They are often whom we refer to as great. We are awed in their presence. These people are often the rich and famous, but, just as often, they are folks living in obscurity, out of the public eye, yet, living their lives at an extreme level of consciousness.

Let’s take a look at one of our new heroes; the pilot, Chesley “Sulley" Sullenberger, who so ably piloted his plane into the Hudson River. It doesn’t take much imagination to understand that this story could have, and in many instances would have had a quite different outcome. The question is however, did Sully just instantly become great? Or was he preparing for this moment his entire life? And when his moment arrived he was ready to answer the call.

I instinctively understood that Chesley Sullenberger was a person that lived his life on a level, that when this moment came to him He was ready. Let’s explore a bit. He got his flying license at the ripe young age of 14. He mastered glider flying. He thoroughly investigated and studied flight disasters. He also studied the psychology of the crew in the cockpit. He was a pilot in the Air Force from 1973 until 1980. He is flying commercial airliners since 1980.

I think we are onto something.

Now let’s take a look at our new president, Barack Obama. It is startling to see how Mr. Obama has so carefully orchestrated events, prepared himself, and aligned himself for this moment. As far back as 1995 he had his sights on the oval office. He saw a vacuum of leadership, an opportunity for his charismatic personality to catapult him to where he is.

He penned what have now become, two best selling biographies. He wrote and delivered the keynote address at the 2004 Democratic national convention. He was then tagged as one of the most influential politicians by Time Magazine. After the speech, Newsweek ran a cover of him with the caption “are we looking at the next president?

You see, greatness and heroism are often defined by a moment. Yet, in most cases it is a life of preparation in relative obscurity that allows the individual to seize the moment, and be labeled as great.

The big question that needs to be answered is what about the rest of us? A good friend of mine asked me how this can be applied to each and every individual. The vast majority of us go about our lives, our routines, trying to balance our family/work/community lives. Most of us will never be called upon to demonstrate greatness. But herein lies the essence.

This friend, David, works as a computer programmer for a well known, prestigious, global media company. I said to him: If you go about your business, always being on top of your particular area, the day may come when you see something come across your screen that can save the entire company. Will you be ready?

Our duty is to at the very least be in the top 9.9 percent, where we are performing on high levels, and, more importantly, growing through learning, reading, and self improvement and self awareness. And when the moment comes calling: Will we be there to heed the call?

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REAL ESTATE...AND OTHER THINGS OF VALUE: Greatness

A Real Estate Investor’s Networking Dream

By Kathleen Ronald

Southwest Bureau Chief (Utah, Arizona, Nevada, California)

I am very excited to highlight a husband and wife team this month. Geraldine Barry and Stuart Baeriswyl not only happily married they are also the founders of San Jose Real Estate Investors Association (SJREI). SJREI is based in San Jose, CA but has operations in both Santa Clara and Foster City, so is centrally located and accessible to all Bay Area residents.

The mission of the SJREI is to provide a forum for real estate investors to collaborate and become informed on how to successfully invest in real estate.

At the meetings people in attendance learn about topics such as market timing, 1031 Exchanges, Short Sales, REO properties (real estate owned by banks), Property Management, and Partnerships to mention a few. If you are an experienced investor or new to investing; a real-estate or mortgage broker, accountant or lawyer or just interested in finding out what is happening in the world of real estate, this is the networking group for you.

As you know, I love the story of the how clubs are born. When I spoke to Geraldine this morning, it was so inspiring to hear how she and Stuart have built this grass roots association from its humble beginnings to the powerful networking vehicle that it is today. The journey from their launch in May of 2002 to today’s club model is nothing short of phenomenal.

Geraldine took me back to the time that she and Stuart bought their first properties as newbie investors, which included both a 4 unit and a 6 unit apartment buildings in Stockton. What they lacked in landlord experience, they made up in motivation to learn the ropes. It was Stuart who first had the vision to host a gathering of like-minded people. Geraldine, however, was not thrilled about this idea and felt, given all they already had on their plates, including a toddler and two corporate jobs, that they had enough going on. She couldn’t get behind her husband’s idea at conception. Stuart then offered to compromise, and said, “If I do all the foundation work will you join me?” She accepted, and apparently that strategy worked, because their club grew in numbers every single month, from their first meeting with ten people at a local coffee shop, to the hundreds that now attend either at Santa Clara or the Foster City locations.

I have personally known this incredible duo for many years, and have attended countless meetings as a friend, interested investor, and even as a speaker. I believe that the success of any networking opportunity is rooted in the founders who bring it to life. As Geraldine explained to me, their club has been built solely by word of mouth over all these years. How many clubs can say that? This, my friends, is the gold standard of any group that gets my time and monies. I guarantee, you will know why they have been so successful after you attend your first meeting. You too, can become part of the PR machine that has supported their growth.

As a team they are constantly looking for ways to bring a ton of value to their members.

Some of the major benefits include:

• Networking, Networking, Networking!!!
• Educational Speaker (an Expert on a myriad of Real Estate topics)
• A Deal Table (investors share your deals with the attendees) Very Popular!
• Sponsored one-day in depth training (top speakers in the field)
• Geraldine's Blog where she shares insider tips; the pulse of the market etc.
• Geraldine’s Educational Presentation (book review, current market statistics etc.)
• Monthly featured member interview (details of deal from the trenches)

Their club is also a member of The National Association of Real-Estate Investors, which broadens the benefits to the SJREI members. National REIA's mission www.nationalreia.com is to develop, support and promote local real estate investor organizations while serving the interests of the real estate investment industry through networking, education, leadership on legislative issues, and promoting professionalism and standards of excellence in our industry.

As you can imagine there is no shortage of networking connections, or learning opportunities, at their clubs. Geraldine and Stuart have managed to set up an inspirational environment, and if you go you will be taken with Geraldine’s style and her charming Irish accent. I myself could listen to her all day long! Stuart’s quiet strength shines through on many levels, as he is now a real-estate broker and manages their new investments, which include their recent purchase of two homes in California. I can assure you, after meeting them you will feel as if you’d just met your long lost friends. Their heart, soul and commitment to excellence are obvious from the very moment you meet them. You will not be disappointed!

If you are interested in getting more information on the SJREI Association, please contact Geraldine Barry at gerbarry@earthlink.net or their site at: www.sjrei.net or give her a ring at 408-264-3198.

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A Real Estate Investor’s Networking Dream

Star Power

By Scott R. Forcino, Esq.

Real Estate Editor

This month I had the pleasure of attending the 2008 Star Power Annual Conference in Orlando, FL. This is where instruction, interaction, networking and sharing can be found. It’s also a family reunion of sorts with attendees returning annually. Over 1100 attendees gained insight how to improve their careers and networked amongst each other.

STAR POWER Systems is a time-proven idea sharing network that continuously offers leading-edge systems and techniques from nearly 300 top working real estate agents from across the country, each of whom averages over 200 transactions per year. In the spirit of sharing, this affiliation of Stars selflessly extends a menu of success to other success-minded agents, from which they can choose those strategies and methods to immediately implement that best fit their market, style, and personality.

More than 170 Stars bring the magic of their success as they share their knowledge, drive and experience that helped them reach the top 1% of their industry. There is also a complete directory of the Stars to allow contact to learn more and network further.

Of course there are over 75 educational sessions and Networking Luncheons and Networking BreakOut Events and a Vendor Expo, in which I participated.

Overall, this event is another example of realtors nationally getting together to address the important issues surrounding the industry and the housing market coupled with the credit crunch/mortgage meltdown. There was much input regarding this important topic and many opinions were voiced within the context of learning and networking amongst peers.

Scott R. Forcino --- google me !!
www.prorealestatecity.com
scott@prorealestatecity.com
ph: 914.997.7503
cell:914.879.8411

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Star Power

Matthew Radin Esq. of Liberty Legal Plans

By SCOTT R. FORCINO Esq., TNNW Legal

This month I had the pleasure of meeting with and interviewing Matthew Radin Esq. of In House Legal Support Services and Liberty Legal Plans, based in Commack N.Y.

As Mr. Radin states, "Liberty Plan members receive the services they need to turn Relationships into Transactions and Transactions into Better Relationships while they Save Money".

Liberty Legal Plans assist Realtors to work with Paralegals, Virtual Assistants, Lawyers, Transaction Facilitators and helps buyers and sellers move the transaction from Listing to Initial Offer to Contract to Closing in less than half the time it currently requires. Most professionals donate one-half hour to clients to become familiar with clients' issues and offer discounts of up to 25% off their published professional rates.

Compelling reasons to participate in Liberty Legal Plans include gaining referrals from preferred qualified attorneys and earning compensation by offering Liberty Legal Plans to vendors and lawyers while creating an environment for clients to streamline the transaction. Ideally, attorneys inform other attorneys of the virtues and features of participation in the Legal Plan.

There is also a Comprehensive Conflict Management Process that provides practical solutions through a network of professionals who are accountable for achieving excellent results for buyers and sellers through mediation and arbitration and do all they can to keep disputes out of court. Real Estate buyers/sellers enjoy the "One Stop Shop" which gives them more control over deals and reduces risk and stress and provides buyers/sellers with lawyers who can manage expectations and protect the right and obligations of the respective parties to the transaction. This is a clear benefit derived from networking among lawyers.

Mr. Radin explained that Liberty Legal Plans is a great opportunity for attorneys to gain exposure for their practices and also to meet and connect/network with other attorneys to promote the Plan in order to provide a benefit to buyers/sellers.

The sites www.clslegalplans.net and www.libertylegalplans.net are where one can find Liberty Legal Plans on the web. The immediate goal is to afford thousands of Realtors®, lawyers and buyers/sellers a chance to provide this Legal Plan while making money and reducing risk.

Matthew Radin Esq. can be reached at 631. 499 6499 or by email.

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Matthew Radin Esq. of Liberty Legal Plans