Do you agree to the terms and conditions?

The internet has effectively neutered our attention to the details when signing a legally binding contract.

When you install an APP or register on a website to do, well, just about anything on the internet, you’ll have to check the box indicating that you understand and agree to the terms and conditions.

If you don’t check the box, you don’t get to use the widget.

You have a choice . . . click the link and READ the 11 pages of minuscule print non of which you can change in the event you don’t like it . . . or not.

Either way, you don’t get to use the widget unless that box is checked.

We all do it . . . We “X” those boxes so fast they’re not even more than a nanosecond delay of our need for immediate gratification.

The horrific truth is that most people now are conditioned to agree to terms and conditions even though they have no clue whatsoever . . . no knowledge or understanding of what they have just committed themselves to perform in the future. 30 days later, the $29,95 begins to sail out of your bank account like clockwork every month in perpetuity . . . for something you really never intended to use in the first place. When you discover the fees (6 months later), you attempt to cancel the subscription only to learn that you agreed to a 2 year term.

Sadly, this lackadaisical practice regarding internet widgets creates a mindset that carries into more complex and onerous contractual agreements, like . . . Buying and Selling houses.

The newly revised forms for Real Estate Transactions provided by the State REALTOR Association TNREALTORS, rolled out recently, and I reviewed all of the changes with the Vital Few Members of Pareto Realty in yesterday’s monthly Team Meeting.

Mid-way through the meeting, it struck me that the Purchase and Sale Agreement is 11 pages long and is VERY full of significant terms and conditions most of which most agents understand and some of which most agents do NOT understand.

It’s frightening (to me) that many Home Buyers and Sellers sign these complex documents with very limited knowledge of the terms and conditions.

Even as REALTORS attempt to explain in detail, so many clients “don’t have time” and/or don’t have the attention span to be able to fully understand.

My plea . . . S.L.O.W. . . D.O.W.N

You can hustle your way through the process willy nilly if you’d like, but PLEASE take whatever time necessary to understand the contractual obligations.

Ask questions!

KNOW what you are signing, or don’t sign it.

This isn’t an internet widget you’re buying.

(Hops off his soap box)

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Revenue is not profit

Volume of Sales generates revenue.

Revenue IS income . . . It’s all of that money that comes into your bank account as a result of your business activities (Marketing, Servicing, Selling).

Many folks believe that the name of the game of success is “making a LOT of money.”

The only pitfall of that is that it sets up a dynamic of never having enough.

When we are focused on making MORE money, we tend to spend more without thinking through (or saving) because we are hooked/addicted, and we develop an armor with the belief that we can always “make more” if the till starts getting low.

My once co-warehouse-worker Doug coined the phrase: “You can’t hide that money!” when he noticed another of our co-workers surrounding himself with nice things.

Doug also was famous for saying: “This ain’t nuthin’ but a thang because nobody will care about it 5 years from now.”

Then there are those people who understand that it’s PROFIT that makes us “rich” . . . After you deduct all of the expenses from the revenue, you’ve either got profit or loss.

If you’re REALLY smart when you profit . . . After tithing . . . you’ll squirrel away a big chunk of that profit in 3 categories – Emergency Fund – Travel/Holiday Fund – Long term savings (Retirement account and/or investments).

If you have a loss? Do everything in your power NOT to incur revolving debt.

Instead, cover shortfalls with the money you’ve saved.

Because that hurts, you’re more likely to watch (cut) expenses instead of robbing your bank.

All of the above is just a bit of financial reminding to nudge you into a profitable frame of mind as you do your work and earn more revenue throughout 2018.

Think PROFIT!

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Hot Fresh and worth the wait

If you’re in a hurry, don’t expect it to be HOT and FRESH!

Fast food restaurateurs are in the forever quest of being able to deliver Hot and Fresh food . . . FAST to every customer.

Accomplishing this is enigmatic.

Sure it’s possible to deliver it fast and fresh for many customers, but all?

The problem arises as popularity builds . . . More and more people hear about your FAST, HOT and FRESH and want to experience this, so they come in droves.

Invariably, the “success” leads to some comprising  resulting in slightly less Fast, less Hot, and/or less Fresh.

Often the choice boils down to some tough decisions . . . Which will you refuse to compromise?

Do you demand NO compromise on FAST and Hot? OK! so you invest in food warmers and start pre-cooking orders (Less Fresh).

This decision ultimately boils down to your commitment to your customers.

Are you willing to chance losing their loyalty by delivering less to more people in the belief that more volume will convert to more profit!

OR . . . do you do as Hattie B’s does and commit to HOT and FRESH with no promise of fast?

Folks come and create lines around the building even in the most inclement weather to get their HOT and FRESH HOT CHICKEN.

If you’re in a hurry, you have ONE choice to “cheat the system” – You can order on-line and pick it up in 30ish minutes . . . there’s no promise of your order being ready early because they are SO committed to HOT and FRESH that they won’t cook it until it’s time for you to pick it up. I’ve never ordered on-line and had to wait past the pick-up time.

So . . . What are the “deliverables” you provide in your business that are absolute requirements?

Focus on THOSE and ALWAYS get them right, and you’ll be famous until or unless you get carried away with an urge to “scale up”

Your choice – Mediocrity or Excellence?

 

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Location Location Location – Dodging the Nashville Gridlock

Nashville, TN is BOOMING!

The BOOM is exciting, but it brings with it a sizable number of growing pains the most often of which mentioned is GRIDLOCK!

As the city has grown, the urban areas have been the first to become more dense as developers and builders resort to creative “In-Fill” construction (AKA “Tall Skinnies”). They buy a 60 year old house on a city lot, raze it, and replace it with two very skinny multi-story (at least 3) abodes.

We Native Nashvillians don’t get it.

Why would anyone want to live in a house with all those stairs, minuscule yards, and near zero elbow room from their neighbors?

While we don’t get it, we do understand the age old truth as report by Albert Naggar, who said his grandfather, the late LordHarold Samuel, a real estate tycoon in Britain, coined the expression: ‘There are three things that matter in property: location, location, location …”

Most people desire convenience to get to the places they want to go with minimum hassle . . . and best if by foot. I’ve never heard anyone say that they chose to live in that suburb because they rather enjoy the 45 minute commute that is sometimes an hour and a half.

So . . . In Nashville, TN, these houses in quaint neighborhoods “close in” to the core of downtown with easy access to all the Interstates, on reasonably sized lots with appropriate privacy and tranquility are getting sparse at ANY price.

Chad Smith – REALTOR Extraordinaire (One of the Vital Few Members of Pareto Realty) – is offering for sale this beautifully updated, traditional home in the oh-so-perfect Close-in West Nashville location nestle between Historic Richland and the estates of Green Hills (Bowling, Golf Club, Hampton, Whitworth).

3600 Bellwood Avenue is in the exact center of this map.  

 I mean it when I say PERFECT – SO convenient to Green Hills, Interstates, Downtown, Parks, Schools, Shopping, Vanderbilt, Lipscomb, Belmont . . . THIS house is in the CENTER of the HUB of Nashville. I must qualify myself as an “Expert” regarding this location because the house I grew up in on Cantrell Avenue is 4 blocks away from 3600 Bellwood. This was (and still is) the quintessential established neighborhood in West Nashville. As a kid, I played with friends in the Richland Country Club golf course (Now Whitworth), and have fond memories of walking to school (Woodmont Elementary and Montgomery Bell Academy) and the Jim Dandy market at the Belle Meade Plaza.
I asked Chad to send me a brief blurb about the house:
List price: $974,900 – 4 bedrooms – 3 full baths – 1 half bath – Click this link for all the details and more pictures
Immaculate renovation/restoration of this 1940s residence with attention given to every detail. This home provides all of the modern amenities, yet retains the charm and character of its era. Fully finished lower level with media room and possible 4th br or in-law suite. Lush landscaping on corner lot in one of Nashville’s most desired locations.
Please view photos below!
BRAVO!
Should you desire any additional information any/or wish to schedule a private viewing of this fine home, please connect with Chad. He is one of our top agents here at Pareto Realty and can serve you well with any Residential Real Estate needs.
CHAD SMITH

Realtor®
Pareto Realty
mobile: 615.545.8287
office: 615.502.2080

 

 

 

 

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If the shoe doesn’t fit, don’t wear it!

What would be the factors of “Fitness” required regarding shoes?

  • Appropriate for the intended use – Soccer cleats are made for playing soccer – Stilettos are for high fashion – Slippers are for home comfort.
  • Making a statement – Wearing THOSE shoes (THAT Brand) shows others that you’re a REAL professional or successful or rich or modest
  • Comfort – They feel good no matter how long you wear them – You smile to yourself (or out loud) every time you put them on.

When you are wearing the right shoes, you’re naturally more productive. You get more done with less effort and tend to be happier. You might even have “pep-in-your-step” that translates into positivity in your business and personal interactions/relationships.

What are the ramifications of wearing shoes that don’t fit?

  • Functionally inappropriate – Those penny loafers are useless on the soccer field and your hiking boots leave trails of mud in your house.
  • Making the wrong statement – Absence of authenticity because they’re not “you” and people who know you well know this.
  • Uncomfortable to the point of injurious – Blisters, dread of having to cram your feet into them, Pain from your head to your toes because of foot discomfort.

I think we can agree that it’s important for our shoes to fit well, eh!

So . . . How important is it for us to work with a company that’s a good fit?

  • Appropriate Business Model – One that fits the way you want to do business, meshes with your financial scenario, and aligns with the clientele you want to serve.
  • A brand that makes the statement you want make – What about the brand makes you proud to be a member?
  • The Right culture that feels comfortable – Do you go out of your way to engage with others in the company? Do you look forward to time in the office for meetings and/or to work?

In the Real Estate Sales industry space, there’s plenty of room for myriad business models from the large national brands to niche specialty firms.

Every firm has it’s own unique compensation model with a variety of splits, caps, and fees . . . Some are very simple and straight forward, and some would require a degree in Quantum Physics to decipher.

Every individual office has its own unique culture . . . Even in the large National firms with “prescribed” perspective, beliefs, and training.

I firmly believe that being in the right OFFICE is critical for success for most Real Estate Sales Professionals.

There is NO “One size fits all” for shoes or Companies.

If you are “struggling” maintaining consistent sales, don’t beat yourself up.

Your sluggish performance may not be all about you, and what you are doing.

It could be that you’re wearing the wrong shoes or the right shoe with the wrong fit.

If this message resonates with you, do yourself a favor and adopt a mindset of having the intention to find the right fit for you and your business.

Once you put this intention out there, you will be turning on your reticular activating system and you will begin to notice other companies/brand that attract you.

Take action and schedule an appointment with the Principals of those offices to confirm or deny fitness.

Do this with no expectation of anything but being surprised at how right or wrong it is in terms of good fit for you.

The worst thing that could happen is that you decide to recommit to your current office, plug in, and find more productivity.

or

You might find a marvelous new home for your business that will foster burgeoning success.

All real estate firms are interested in having more agents who fit their business models and culture and would welcome an interview with you.

If you’re in Middle Tennessee and are interested in “A residential real estate sales firm that supports member agents who build and grow consistently productive niche businesses as they enjoy the healthy life rhythm they want & deserve, I hope you’ll connect with me to schedule a confidential interview 🙂

Barry Owen

CEO/Principal Broker

Chief Real Estate Strategist and Culture Warrior

Pareto Realty, LLC

barry@paretorealtyllc.com

615-568-2123.

 

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contact us: 615-502-2080

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License # TN 261476

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Pareto Realty, LLC - Woodmont Centre - 102 Woodmont BLVD Suite 242 - Nashville, TN 37205 615.502.2080 - Tennessee License #261476