Austin Texas Real Estate Blog

n case you missed it, over the past week or so, Gap decided to change their corporate logo, then got pressured (largely via social media channels) to change it back. My initial reaction on seeing this was to assume that they planned it this way from the beginning, but I don’t have any contacts in the “Gap circle of trust” to know for sure.  Gap has been around a little longer on the earth than I have, and my cursory research didn’t reveal whether their iconic blue box logo had been around since they were founded in 1969, but I know that they’ve had the same logo at least since the 80′s, when I used to shop there during high school.

So, one of two things happened here, and I see them as mutually exclusive:

1. In a stroke of business branding genius, Gap knew that their new logo would fail miserably and cause a public outcry, at which point they could save the day by reverting back to the original, comfortable logo we’ve all known for years,  OR…

2. Gap simply messed up, but they were paying attention and responded swiftly to the unhappy consumer audience.

 

Frankly, it doesn’t matter which of these comprises the truth. 

Either way, Gap wins.

Why is that, exactly?

Well, do you remember the last time you talked about Gap with your friends before this incident?  Or the last time Gap made headline news?  Yeah, me neither.  In fact, this could be the first time in their 41-year history that they did something worth talking about.  I applaud them for this move (and for the change back, because the new logo really did kinda stink), since they did something buzzworthy.  How often do you see large corporations making bold moves?  Every once in awhile, you might see a risque GoDaddy commercial, but, by and large, companies tend to play it safe.

The bottom line question: Will this sell more clothing for Gap?  My guess is that it will, simply because they managed to get top-of-mind awareness this week, even among people who were mocking them.  This much exposure can’t ever hurt a brand, and I bet Gap’s holiday earnings are better than expected.

So, whether it was accidental (a la New Coke) or intentional, congratulations to the Gap executives.  I bet this is one risk that will pay off for them.

P.S.  I considered posting the new logo, then thought better of it.  It’s ugly, in my humble opinion.

Originally posted at: 210 Consulting

Truthfully, I could probably make this post even shorter than the headline/title above.  However, since I get paid by the word (don't I wish), I would like to make this point very clearly.  I'll give you the two-word answer to this topic at the end of the post.

During our recent trip to Houston, we got on the road later than expected, so I had to plan on picking up my rental car at a different location which was open later, until 7pm.  I spoke with the manager and he was very nonchalant about things.  I didn't get the feeling that he much cared whether or not I got a car that night or not.  Since we have three young kids, my wife needed to have a vehicle of her own so that she wouldn't be stranded at our in-laws' house with them for an entire day.

Traffic was pretty heavy, but we made it to the rental car place at about 6:45 or so.  It was small, and attached to a dealership, so I could see their entire inventory of vehicles just outside the office door.  I had reserved a "full-size" car, and the manager told me he would "try" to get me something good-sized, but there were no guarantees.  So, what was sitting there? What were my two options?

1. Small green compact car

OR

2. Black Jeep Cherokee

I knew it was time to turn on the charm.  I entered the office, which turned out to be a room about 6 feet by 8 feet, complete with two very uncomfortable chairs which I suppose constituted the waiting area.  There was a very stressed-out looking man with his tie off who looked like he would rather be anywhere but there.  I waited patiently while he finished his computer work, then turned to greet me. 

This was make-or-break time.

ME: Hi, I'm Jason Crouch.  We spoke a little earlier on the phone.   Are you Reggie?

REGGIE: Yes, that's me.  How you doin'?

ME: Good, good.  I'm glad to have made it on time.  You're my new hero! 

REGGIE (laughing): Well, I'm glad we could help. 

ME: You know, I used to run a rental car office myself years ago.  It was located in a body shop.  Long hours, huh?  I remember hating inventory, because I had to work so darn late.

REGGIE: Is that right?  Well, I have been here since before 7am.  Let's see....

As he turned away to look at the keys on the board behind him, I knew this was the critical moment.  Would I be taking the dream, or the dud?

REGGIE: Tell you what, I've got a free upgrade for you tonight. 

ME (feigning surprise): Really?  That's great!  What do you have?

REGGIE: You see that Jeep Cherokee?  That's yours.

ME: That will be perfect!  Thanks so much for your help.  I really appreciate it.

So, what can we all learn from my experience with Reggie a few weeks ago?

• BE NICE! (that was the answer I promised you above)
• Throw out a compliment or two.  It won't kill you to do so.  Calling Reggie a "hero" was not just an ego stroke - it was the truth!
• Remember the magic words that you learned in Kindergarten?  They still work today.  Everyone likes to hear "thank you" and to feel truly appreciated.
• Treat people like human beings, not servants.  Even if they are in a service-oriented business (aren't we all?), they are likely just trying to get through the day and they probably mean well.
• Be observant.  I knew that Reggie was stressed out and tired as soon as I walked in.  This may seem like common sense to some of you, but it's not as natural for everyone.
• Find a common connection, if possible.  I brought up the fact that I had managed a rental car location to demonstrate that I knew EXACTLY what he was feeling.  Again, it was the truth!  Don't manufacture this.
• If all else fails, PRAY! 

During my two-minute conversation with Reggie, I managed to hit all six of these points.  I didn't have a list in my mind - the list actually came to me tonight.  I hope this comes in handy for you with clients, or waitstaff in restaurants, or with anyone you deal with during the course of your day.

Thanks for reading!

All photos courtesy of www.photorack.net.

My RSS feed is http://activerain.com/jasoncrouch/rss    

Not that it matters, but this post has pretty much nothing to do with real estate.  It's just something that bugs me, and I thought it warranted mentioning.

Today, I was out with my family for awhile - we had lunch at a new Mexican restaurant, then went to Fry's Electronics to return a couple of items and buy better versions.  "You get what you pay for" appears to still be alive and well with regard to electronics.  Note to self: a $20 webcam may seem like a stellar and wise purchase, UNTIL YOU ACTUALLY USE IT.

At any rate, when we were approaching Fry's, we stopped at a light and I looked over to see a guy holding what appeared to be a large cardboard poster of an oil can.  It had some stuff written on it for the oil change/lube place behind him and he was shaking it around and gesticulaing wildly, as if to say, "You are crazy not to use Jiffy Lube!".  Okay, so I am exaggerating.  He looked bored to tears and he had headphones on.  If he had a free hand, I'm pretty sure he would have been picking his nose with it.

This led me to make the best improvisational joke I have made in weeks:

"Pam, look at that guy over there.  When did the sandwich board concept make a comeback?  Maybe we are entering the Great Depression again after all.  (using my "old timey" voice) - 'Hey mac, check me out, with my handlebar mustache.  You can buy mustache wax and a cherry phosphate right here for a nickel!'"

But seriously, why is this concept popular now?

I see home builders hiring folks that appear to have come straight from homeless shelters in order to advertise new communities.  While I find the concept of hiring the homeless to be very admirable, couldn't they find something for them that would be a bit less:

• degrading?
• hot?
• pathetic-looking?

Although I will always notice the guy wearing the gorilla suit doing aerobics outside of the discount clothing store, or the person who is wearing any type of mascot uniform (such as a large lightbulb, or a sack of groceries, or a Rubik's cube), it doesn't compel me to do business there.  Well, unless I happen to need a spare Rubik's cube.

There are probably ways to effectively drive traffic to your business or model home with this technique, and they might not even require nudity.  I have a few suggestions:

• Pay enough to get someone who smiles or at least doesn't look tired/bored/psychotic
• Give them something compelling to hold as a sign - "FREE ICE CREAM" or "FREE EKG" or something similar.  I sometimes see one of the car-wash workers near my office just standing there in his uniform and waving in a disinterested and vaguely angry fashion.  "WOW! That guy looks irritated.  I better get my car detailed here so that he won't kill anyone today."
• Give them water and an umbrella, or station them in the shade.  I once bought a sunhat and took it to a guy working for a sandwich shop in 100+ degree heat.  I have never experienced such gratitude.

If all else fails, and you are tied to this method, use a rainbow afro wig.  I bet it would work, and it evokes some great nostalgic memories of 1970's football games.

We work with both home buyers and sellers throughout the Austin area.  For many years now, the majority of our business has come from working with buyers, since much of our new business comes from the internet.  Typically, I have found that those clients searching online are looking to buy, not looking for a listing agent.  Obviously, there are exceptions to this, but this is my anecdotal experience.

Often, while I am engaged in the showing process, I hear something along these lines from my clients:

"Jason, I'm impressed.  You are really organized.  Thanks for preparing so thoroughly for our day together.  It made it really smooth for us."

Even though I have heard this dozens of times, it still surprises me, for two reasons:

1. I don't consider myself to be overly organized as a general rule.
2. I just always figured that planning was part of my job as an agent.

I think buyers say this more often when they have already met with another agent in the past, or if they have become disenchanted with someone else and then we end up working together.

"Wow, the guy we used to buy our last house always seemed like he was sort of winging it.  Sometimes, he would just show up at the houses and ask if we could look at them."

This strikes me as simply amazing and disrespectful.  It seems like the professional thing to do to set up the showings ahead of time, and to give each home owner a pretty good idea of when we will show up.  To be sure, there are extenuating circumstances sometimes, but I usually have a list of properties and I can estimate with some level of certainty when we will see each one of them.  The primary exception occurs when I have a buyer that takes an inordinate amount of time to see each place.  I once had a buyer whose dad tagged along, and he insisted on seeing EVERYTHING (even the attic), even when they were not going to buy that home.  I had to gently nip that in the bud.

So, is this out of the ordinary to adequately prepare for a day of showings?  I would imagine that if you are reading this as an AR member, you probably handle yourself in a better-than-average fashion, so this is probably old hat for you guys.

This afternoon, I was showing a handful of places to a couple who are looking to buy their first home.  This was our first meeting, and things were going smoothly, although the homes themselves were in less-than-desirable condition because of the price range and the fact that all of them are either short sales or foreclosures. 

He turned to me as we were leaving the third house, and asked,

"So, Jason, how long do you usually work with a client before giving up on them?"

I have had this question posed to me in the past, but usually it comes from folks who have been looking for weeks (or months).  Coming from someone I met about an hour before, it struck me as funny, so I laughed in his face and blew it off.  Actually, that is completely untrue.  It was surprising, though, and it made me think. 

What are my standards for this, anyway?

I responded, "Well, actually, a few years back, I had one client that looked at almost 100 homes before deciding on the right one."  Then I gave them a brief synopsis of how/why that happened.  I just re-assured them that I am very patient, and that it takes an awful lot for me to get irritated.  I went on to explain that I don't really ever rush anyone, and that I want to help buyers to find the right place, even if it takes a bit longer sometimes.  This seemed to make him really happy, even though I get the sense that they will probably act relatively quickly.

I thought about this a little more on the way home (clearly, since I am now writing about it), and it made me think that these buyers are probably going to be more respectful of my time and appreciative of the service that I am looking to provide for them in the upcoming weeks. 

In January, I will have my 12-year anniversary in the real estate business.  I have worked with (almost) every conceivable type of buyer during my career, including those that are "users", tire kickers, and the disloyal.  So, it is always refreshing to have clients who genuinely care about me and my time. 

It's a very positive sign if a buyer or seller says, "You have spent enough time on this for today.  You need to get home to your family." or "Thank you SO MUCH for your time today.  I learned a lot.  This was great!" or (and this is the most frequent statement by far) "Jason, we have decided to name our next child after you."

But seriously, clients who genuinely respect you and your service are a blessing indeed, especially when they're pre-approved.  :)

I took my two older kids (9 and 7) to run errands with me the other day, and we went to the bank drive-through to deposit a couple of checks.  Frankly, the fact that I had some checks was a blessing in and of itself. 

The kids knew that the bank teller always has lollipops to give out, so they both made a quick request for the cherry-flavored ones.  Of course, the teller was more than happy to oblige, and we all left happy.  This small item stuck with me that day, as I thought about what "hooks" I offer with regard to my personal level of service. 

What is it that keeps my clients coming back for my help, and sending their friends and family, too?

I realize that our bank is providing a small nicety for its customers.  Can we learn from this?  Is there some small gesture that will be remembered by our clients, or even by their kids?  I have actually received several testimonials that reference the fact that my van has a TV, which is helpful when kids are along for the ride.  One client also enjoyed the fact that he could watch the NFL playoffs while he and his future wife were house hunting!

I am not necessarily advocating that everyone needs a television in his/her showing vehicle.  In fact, as I recall from a post I did last year, there are many who don't ride with their clients in the same car.  Here's that post, in case you are curious: You've Got them in the Car - Now What?.

But this post has a larger scope than that.  Give some thought to your level of service and, at the very least, attempt to see yourself as your client does:

• Are you on time for your appointments?
• Are you being proactive or reactive when it comes to their needs?
• Do you have integrity?
• Are you providing solid information along with your own suggestions?
• Are you fun to be around, or a bit of a stick in the mud?
• Do your clients look to you for advice and guidance during negotiations?

Being respected in our industry is sometimes an uphill battle. 

If you actually take a second to think about that last sentence, it may behoove you. 

I apologize in advance for the cliche, but you need to take a look in the mirror sometimes, to see if that person you see is doing the best job possible.  This may sound harsh, but I can guarantee you that an honest self-assessment will reveal that many of you reading this are not providing the type of service that you would expect if you were the client interested in buying or selling.  I can say this because I am in the same boat. 

His current reputation notwithstanding, Michael Jackson wrote a song that left a strong impact on my father, who passed way three years ago, with over 11 years of sobriety.  "Man in the Mirror" was a powerful anthem when it came out 20 years ago, and my dad credited the lyrics years later as those that got him to start the recovery process.  There is a book by the same name by Patrick Morley that I purchased, although I have yet to finish it.  I think I need to do that, now that I mention it.

At any rate, I find myself looking at my own reflection (at least figuratively) often, assessing areas that I need to improve on in my business, and in my personal life, too. 

Take time out during your week to look in the mirror.  You owe it to yourself, and to your clients.  There is only one person that you can really control in this life, after all.   

Yesterday, while I was out and about, I spoke with two of my ActiveRain friends on the phone.  Paul Slaybaugh called me and we chatted for awhile, then he had to go because he was busy with his two sons.  I later called Adam Waldman and he had to call me back because he was watching "Hard Knocks", the Dallas Cowboys training camp show on HBO, with his son. 

After speaking with each of these guys, I thought about the time flexibility that real estate can afford to us, and how fortunate I am to be able to make a good living in a business that allows me still to have ample time with my family. 

As I was driving, I stopped at a light near my office and looked in my rear-view mirror.  I noticed an older lady driving and speaking in a very animated fashion to the younger lady who was her passenger.  I don't know if she was a real estate agent or not, but it reminded me of many meetings that I have had with clients, driving them around and getting to know them. 

You mean I can actually get PAID to make friends?

In a sense, yes.  I certainly can't claim that everyone in real estate conducts their business in the same way that I do, but I typically end up befriending my clients during the sales process.  Additionally, through my online social networking efforts, my friendships have begun to pay dividends in the form of solid referrals, one of which I closed last week. 

In my humble opinion, the essence of good marketing begins with personal networking. 

I have owned my own brokerage for almost four years, and I always tell my agents that clients are not typically brand-loyal when it comes to real estate.  In other words, most people are more interested in their agent as a person than with the specific company affiliation.  Of course, there are exceptions, but generally people tend to use the agent that they like and who provides the necessary information. 

When it comes to real estate sales, WE ARE the product.  Rather than being traditional salespeople, we are responsible for selling ourselves as people first.  To my way of thinking, this should be the easiest sale of all.  If you are not comfortable in your own skin, this is probably not the right field for you.  However, if you can manage to package yourself as the likeable, honest provider of local info, you are well on your way to capturing the business. 

As real estate agents and brokers, we are business owners first and foremost, and I think it's important to keep that in mind when dealing with our clients and potential clients.  If you treat it as an actual business, you don't sweat each individual transaction, because you are focused on the larger goal of growing your business over time, and maintaining your reputation so that you can keep the doors open.

In a nutshell, self-employment is not for everyone, but it is the only choice that I can imagine making if I had it to do over again.

Copyright 2008  Jason Crouch   Austin Homes

I took my family to IHOP for a late breakfast (or early lunch) today around 11am or so, and I was surprised to see that there was a wait of about 15 minutes before we could be seated.  We sat on some long cushioned benches together while we waited.  I like to "people watch", partially because I just like trying to figure people out, and partly because I might see someone that I know.  The longstanding joke with my wife is that we will likely always see someone that I know if we go anywhere remotely crowded. 

While we were sitting there, some people came and sat right next to me.  When I say "right next to me", I mean RIGHTNEXTTOME.  They were too close, and I felt like it was a minor invasion of my personal space.  To be sure, there are things that are more uncomfortable, but it ranks up there with being stuffed into a skyscraper elevator for me. 

I thought about our personal mental space, and how easy it is to feel pressured or stressed over decisions or critical events.  When I am dealing with my buyers and sellers, I always try to be mindful of this. 

I have witnessed many agents who seem completely oblivious to their clients' mental state, forging ahead blindly trying to close the deal.  In my humble opinion, this is probably manifested in other areas.  In other words, the agents and brokers who try to cram their clients into a sale are the same people who treat waiters badly, or step on neighbors' toes, or cut you off in traffic.  All of these are symptomatic of the same disease, which is narcissism. 

Narcissistic agents are my least favorite to deal with during a transaction, because they are the least giving, and least willing to sacrifice on behalf of their clients.  They are the same ones that I find myself speaking about when I say, "How does this person make any money in real estate?  They are so difficult to get along with!"

Unfortunately, I find myself saying that far too often.  I'm sure you have heard a potential client say, "Well, I haven't really had very good experiences with Realtors in the past."  I am always quick to respond, "Me, neither!"  Feel free to steal this line if you like.

What is my overarching point here? 

It's simple.  We are paid to serve as fiduciaries for our clients.  If you are new to the business, I will let you look that one up in the glossary or on Google.  For the rest of you, consider the ramifications of this word.  It sounds harmless enough, but it has a pretty deep meaning. 

A true fiduciary is supposed to put his/her client's interest ahead of his/her own needs or wants, right?  Are you doing this with every transaction?  I know that I have probably had a handful of sales (most of them early in my real estate career) which probably fell into a gray area.  In other words, maybe I was a bit pushy.  Not today, however.  I am proud to state that I have never been threatened with a lawsuit, nor have I had to undergo a mediation for any sale.  I would like to keep it that way, which is why I take my fiduciary responsibility seriously.  Building relationships based on mutual trust is the only way to build a proper real estate business, at least in my mind.

Respect your client's mental space, and do your very best to put their needs first.  You'll be glad you did.

Copyright 2008  Austin Homes  Jason Crouch

Although I have been helping people buy and sell homes for almost 12 years now, I have to admit that moving is one of least favorite activities.  We moved our office this past month, and we are slowly getting settled.

Unfortunately, we have gone without proper phone or internet access for a full week now (our primary office number is forwarded to a cell phone for the moment).  Tomorrow, the phone guys are coming to finish hooking everything up.  Until then, it looks more like a furniture showroom. 

When we leased our previous location, we got about $10,000 worth of cubicles, desks, chairs, and more for one dollar.  Although I was incredibly happy to score such a great deal back then, I do not relish the thought of moving these items again anytime soon.  Our 10-foot solid conference table was much like I imagine moving a killer whale would feel like.

Our new address is:

3636 Executive Center Drive, Suite 210, Austin, TX  78731

As I write this, I realize how many different places we still need to change our address. 

That being said, I really like the new location, which is about 15 minutes from my house (perhaps half the distance when compared to the old place).  Everyone that has seen it so far agrees that it has a better "vibe", even though there are actually fewer windows. 

The fact that we don't have internet access yet has forced me to focus on unpacking and setting things up for now, since I must check any email or AR-based activity on my Treo (not as much fun). 

Well, I am off soon for a 1pm appointment, after which I will be at the office for a little while.  Maybe I could go ahead and get my personal tax return done at last...

Hello Sir/Madam - In the interest of protecting your identity, I will not reveal your name on this post.  However, I did want to take a couple of minutes to give you my opinion of your spam email with the following subject:

"We can do the hard loans!"

Really? 

Wow, that is an exceptionally creative means of marketing yourself.  Sorry for the sarcasm. 

I recall that during my very first year in the real estate business, I realized that every single mortgage professional that I had come in contact with via office sales meetings or lunches that they invited me to had the same line, and that was ELEVEN years ago.  Perhaps that is why I deleted your message without a second thought.  At least it's email, so it didn't cost you anything, right?

Since the mortgage crisis and ensuing fallout, I hadn't seen anyone attempting this particular method of advertising.  But you, brave soul, are clinging to the most archaic and tired line in the business. 

If this method manages to produce a single loan for you, I applaud you for trying.  I have often told my agents that virtually ANY means of marketing will work if performed consistently.  That being said, some things will probably not produce the desired results.  As real estate agents, we are bombarded with stuff from loan officers throughout the area and even some from other cities.  As such, you need to stand out somehow.

On a separate note, do you honestly understand how difficult some loans really are these days?  The first time I heard this spiel (in 1997, mind you), the "hard" loans really just required some extra work to get them placed with an investor/bank.  Today, the hard loans may be truly impossible to close.  I had a very close call recently with a borrower who had 20% down and FICO scores over 700.  None of us anticipated that this particular loan would be difficult, but it was delayed almost an entire month due to appraisal issues. 

My preferred lender (Gray Buffington of Buffington Mortgage) has been in business since the mid-1980's, and he was named as one of the Top Ten Mortgage Brokers in the entire state of Texas by Texas Monthly magazine, and he would still tell you that it took all of the resources at his disposal to get that deal closed and funded.

Banks have tighter guidelines - we all know that.  Zero down loans are essentially gone, as are subprime loans, right?  Wouldn't these fall under traditionally "hard" loans?  Can you do a subprime deal for me?  How about a zero-down investment product?  If so, maybe we really should talk.  Otherwise, my guess is that this is just an empty promise.

Over the years, I have worked with a good number of mortgage brokers and loan officers, some of whom I chose, and some which were chosen by my clients.  To be frank with you, the best and most professional mortgage people I have encountered are those who are quietly confident about their abilities.  Those who came clamoring into our office to promise the moon generally ended up botching the deal or making things worse.  Just FYI.

One thing that might help you is the concept of building relationships with agents, along with "soft selling".  Rather than shouting from the rooftops (emails) about how good you are and how you can get deals done that no one else can, try good old-fashioned networking.  If you are going to email, make it personal.  Better yet, try a handwritten note.  Even better than that, impress everyone by making the loan happen smoothly, then show up and get some face time at the closing with BOTH agents.  You can grow a real business this way. 

You are probably wondering what I like about Gray, my current mortgage guy.  I like his integrity, and the fact that he doesn't blow smoke about whether or not he can get a deal done.  Consequently, every single loan that he has actively started for us has closed.  Not a bad track record, huh?

I wish you well, and I sincerely hope that my perspective is helpful for you.