For the past six months, I have been reading a lot about the importance of trust and the profound affect it has on daily life—personally and professionally.

In one article  featured on StephenCovey.com, it explains how low trust “has a huge tax associated with it.” Some of the main compelling points in the article include that trust is very important in business, and that one cannot conduct business effectively without mutual trust. In fact, the article asserts that trust is vital:

“There are just so many elements to the simplest transaction that require trust. But we are like fish that discover water last and are sometimes unaware of those implicit elements. Trust is the lifeblood of all relationships, of all transactions, and is so foundational and fundamental to everything in life.” (stephencovey.com)

I discovered that I prefer working in an environment where there is genuine trust, mutual respect, and a collaborative team spirit. This also extends to personal life and relationships. With this kind of synergy, people can build meaningful connections and bring the experience of life to a completely new level. Without it, distrust, adversarial interactions, and the speed of accomplishing goals dramatically decreases to the detriment of all involved.

For real estate buyers, working within a culture of high trust can make the difference between working with what Robert Hahn of Inman News calls a “House Hawker,” or a “Trusted Advisor.” It means the difference between working with a human door opener and a dedicated real estate advocate.

Real estate buyers working with a highly trustworthy agent will benefit greatly from the resulting synergy that develops through dynamic collaboration. Good things can happen faster. When combined with a highly trustworthy mortgage broker, the result is a profoundly effective team and support system for real estate buyers. Such teams can make excellent progress and realize outstanding results over and above what buyers could achieve on their own or in an environment where everyone is in it for himself or herself.

It takes high trust, active listening, mutual respect and understanding, as well as open communication and being receptive to new ideas to realize unparallel results. This is the vision I have for my life personally and in business. I aspire to bringing out the best in others and in every situation. It means being accountable, responsible, caring, while adding value to the lives of others. It also means focusing on relationship building and mutually beneficial partnerships based in the spirit of good character, hard work, and goodwill.

With awareness comes the truth, and with the truth, the right thing to do becomes clear. Trust in ANY relationship whether client, referral partner, friend, or family member, is essential to the health and happiness of the human experience. Therefore, I am committed to building trust with all the relationships in my life. I will not settle for anything less, and I wish the same for you.

Here are some resources and articles on trust and trust building:

What is trust?  ( from changingminds.com)

 The Speed of Trust: The one thing that changes everything  (Stephen M.R. Covey)

More resources, perspectives, books, and articles about Trust 

Trust Agents  by Chris Brogan (Thanks George !)

April 30th deadline is getting closer. Don’t miss out!

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Save those papers!

Buying your first home can be one of the most stressful events in your life, and it is usually a little detail that can pop up to bite you in the rear, if you’re not prepared. For example, when your financing hinges on obtaining written proof of payment arrangements or agreements made with creditors. In the wrong hands, you may find your home purchase suddenly at risk of falling through, especially, when you are dealing with unethical debt collection agencies.

When such collection agencies discover that your financing is hinging on written proof–even if you have been making your payments on time–they can use the situation against you and demand full payment before giving you the written proof  you need to close the sale of your home.

While some collection agencies are easier to work with than others, you definitely do not want to find yourself dealing with a cut-throat collection agency or creditor when you are so close to closing on the purchase of your home. When unethical collection agencies know that they have you “over a barrel” they can make sudden unreasonable demands and endanger the purchase of your home.  In my opinion, it is a form of extortion. Give them the power, and they will take advantage of the situation. However, there is a way to prevent this unfortunate circumstance from happening to you in the first place.

SAVE YOUR PAPERS!

In these economic times, many people are having to re-organize their debt and finances. If you plan to purchase a home in the future, keep a copy of every receipt and agreement you make with your creditors. Anything and everything that could be used as proof that you are making your payments on time, or that you have paid off an account–put them all in ONE safe place. Without written proof, you are at the mercy of vultures that do NOT care about you or your family, and they will do almost anything to get more money out of you.

A Solution: An inexpensive fire-proof safe!

Before you begin taking the steps to purchase your first home, gather all of those important papers and put them into a central and secure location. By investing in a fire-proof safe and depositing everything important in there, you will be doing a lot to save yourself from the nightmare of being at the mercy of unreasonable creditors and unethical collection agencies .

For more ideas on organizing important papers, check out this article:

What Papers Should I Keep

I came across this awesome video on YouTube, and I wanted to share this with you!

The Dream of Owning a Home

One of the challenges to finding a great fixer is, of course, competing with seasoned rehabbers who come in with cash to close within a matter of days. As the old adage goes, “cash is king,” and when you are talking about a seller who wants a quick guaranteed close, even strong buyers with a pre-approval letter will find themselves up against stiff competition and, potentially, a frustrating buying experience. Here are three things fix-up buyers can do to reduce frustration in a highly competitive real estate market (like Seattle, WA):

1. Approach the market as an investor.

To understand buying fixers, it is helpful to first understand the different investor types and where you fit in this world of real estate investing: rehabbers (typically buy at 50 – 60% market value) , wholesale investors (find and assign real estate contracts to buyers depending on the criteria of buyers on their list), fix-up buyers (typically buy at 70  – 80% market value), and retail buyers (buy at current market value). 

Rehabbers and the Major Fixer market

Rehabbers typically purchase homes that need a lot of work—over and above cosmetic repairs. In order to get the best deals, these investors often have the cash to close quickly at a deep discount (50 – 60% market value). When this type of buyer can close with cash, they gain much leverage over a strong buyer who is pre-approved for conventional financing. It’s the “bird in the hand”  theory.

Attempting to buy a fixer with conventional financing  is a red flag to sellers who are trying to unload problem properties. Sellers want to be certain that the transaction will close. In the climate of the current lending environment, I have heard stories from many listing agents who had transactions fall through at the last minute because of failed financing.

Key to Success

The key to a successful transaction with a fixer depends buyers addressing such concerns in a way that assures the sellers’ agent that you are capable and confident of closing. The way one presents their facts will greatly reduce frustration and increase the chance of a win/win arrangement for all involved.

2. Assemble a support team of experienced investment professionals.

Find and work with professionals who are experienced investors themselves. This adds strength to the strategic plan you create with your support team because such professionals understand the dynamics of the marketplace, as well as how to evaluate and adjust your buying strategy in order to fit current market conditions. In a highly competitive marketplace, this is an important element that could mean the difference between a positive outcome or a frustrating experience in the market. It does not have to be a frustrating experience, but it does requires mutual understanding, trust, consideration, and open communication.

3. Be open to strategic feedback offered by your support team.

There are some buyers who are just not open to feedback. Their nature may be to view feedback offered by anyone with skepticism and doubt. This is evidence of a low trust culture. A low trust culture  slows down progress for the team. In a tough market, trust and teamwork is important. With an open mind, one can be receptive to possibilities, and with possibilities, a clear path to achieving the desired goal and outcome will become more apparent. Remember, it is not about changing the goal, but rather, changing the approach to achieving the goal

Smart trust is what it all boils down to:

It all comes down to extending smart trust  to get the most out of your real estate support team. With a high-trust culture, you will empower yourself and your team to get results and achieve the best outcome in the least amount of time, but it takes assessing the current conditions of the market and then approaching the market in a planned way–taking all things into consideration.

It’s hard to believe that only a few days ago, I was on a Royal Carribean cruise to Cozumel for NAEBA’ s 15th Annual Conference. It was such a thrill to meet other real estate professionals that are passionate about providing representation to real estate buyers without conflicts of interest. I am looking forward to next year’s conference in Tuscon, AZ!

I was asked to write about my experiences of going through the Green Broker Certification course. I have to say that it was an enlightning and educational experience:

10 Things I learned in Green Broker School – by Suzette West for the Daily Journal of Commerce

As I have been studying the Green Broker Certification course, I have been learning about some great innovative strategies for the development of high performance commercial buildings (sustainable or “green” buildings). One of my favorite strategies is the Green Roof, which brings a lot of benefits to buildings including onsite stormwater management, in which green roofs capture rainwater to control storm water run-off. It also adds a natural ambiance to an otherwise stark roof setting. Green roofs can become ideal places for social gathering and common areas.

More about green roofs!