I made the decision a couple of weeks ago to quit real estate. My first and most important task, as I posted here, was to talk to my broker about it.
I haven't followed through. Not that I didn't try. We have training on Thursdays which he facilitates, and I had planned to talk to him after. For the first time, he missed the class. Another agent sat in, one that I like very much, and I spoke with him as a "practice." He was encouraging and had some good advice. So far, so good.
Last Wednesday I again went in to chat with my broker, and he was out of town! In hindsight, I should have set up a meeting with him in advance, but he is nearly ALWAYS in the office. I've been out of town myself since, visiting family, so I try again tomorrow. This is getting ridiculous.
Time to live Yoda's quote, "Do or do not. There is no try."
Tuesday, August 14, 2012
Thursday, August 2, 2012
Quitting is Hard to Do
Today -- if I don't lose my nerve -- I will tell my broker that I am leaving real estate. I had hoped to lie low until the end of September, not pursuing leads but perhaps helping people into rentals, which is a short-term sort of thing. As independent contractors, agents aren't required to be in the office, and most of us work from our homes when we're not out in the field. BUT, I had started a 12-week leads-generation class which has five weeks left, and my broker is starting another class for newer agents and wants me to attend. I don't feel right pretending for another two months.
This morning I wrote at length in my journal, working out whether I've made the best decision. I still don't KNOW, but I feel more sure each day. Certain enough to have that talk with my broker, even though I dread it. I've been through much worse than this, so buck up! (I say to myself). The day will pass and evening will fall and Kat and I will have supper together and all will be well.
This morning I wrote at length in my journal, working out whether I've made the best decision. I still don't KNOW, but I feel more sure each day. Certain enough to have that talk with my broker, even though I dread it. I've been through much worse than this, so buck up! (I say to myself). The day will pass and evening will fall and Kat and I will have supper together and all will be well.
Wednesday, August 1, 2012
How Not to Design a New Kitchen
One day last week I was exploring the kitchen section of our favorite home improvement store, when the floor person approached me. He seemed friendly enough, and as we've had good experiences with employees of this store helping us with DIY projects, I accepted his offer to send a designer on the store's dime to our house for a consultation. He assured us there would be no pressure to purchase anything, that the designer would be paid regardless of an order from us. "That's good," I told him. "Because we won't be ready to do this until next year."
Fast forward to the designer's visit. I asked him questions about color, "How do I better integrate my warm living room with my cool kitchen?" "Uh . . . "
And the PRESSURE. Good gad. As we entered the second hour of his interminable visit, I wondered how we would get him out of the house. He wanted an order and he wasn't hearing 'no'. I began to think Kat would have to physically remove him. We were polite as he went over all the financing options (for an $8,000 job that didn't include countertops or anything other than the refacing), and offered incentive after incentive with each 'no'. "If you order within the next 24 hours I can give you 15% off the entire order. If you order today I can get your countertops below cost." Etc, etc. By the time he left I was angry, though more with the floor person at the store than with him, and finally more at myself. The thought of consulting with a professional without having to pay for one overwhelmed my good sense.
I know a carpenter who has done fine work for a client at a reasonable price, and once the taste of this experience is out of my mouth, we may contact him for a quote, but we've pretty much decided to do it ourselves. I've been researching the process for refacing, and it doesn't look so bad, especially with Kat's expertise (She built our deck, some patio furniture, a murphy bed, and together we replaced our privacy fence).
Lately I've been slipping back into frugal-thinking mode, and that's because I've reached a decision to ditch real estate (not that I was earning a lot doing it, but the potential was there). This decision might seem hasty after the agonizing back and forth of the past few months, but it involves a lot I haven't yet discussed here. For the next few weeks I will live with the decision and work on Plan B to make sure I'm sure before officially pulling the plug. Right now, the kitchen re-do is a fun dream that's receded in the distance a bit, and I'm ok with that.
Wednesday, July 25, 2012
Clearing Out Worries
"Live without fear!"
Command given by the celebrant before the final blessing and dismissal of an Episcopal service
I've been unable to make a major decision, telling myself I will take plenty of time to think things through, waiting until the fall to finally make a decision about whether to pull the plug on my business.
I'm stalling.
I am afraid I will regret leaving real estate. I am afraid I will regret not leaving real estate. The very worst thing I could do is never decide and continue to do a half-assed job at real estate while keeping a toe in my writing ventures. Success at anything requires commitment and focus and passion.
I've been in this sort of twilight world of non-commitment for a while now, long enough to have created habits of thought and attitude in danger of shaping me into a fearful, hesitant person. I want instead to be a fearless, open-hearted, adventuresome person!
To that end, and as a first step, I will drag my fears -- those niggly little worries that live in the dark crannies of my brain -- into the light. Here are a few:
Imagining What Others Will Think of Me.
I got my license a year and a half ago and have trumpeted it to all my friends and acquaintances. Will they think I'm flighty for leaving? Will they respect me less? I have four leads for next year, acquaintances/friends who want to list in the spring. What will they think if I walk away after I've promised to help them?
Disappointing my Broker.
I like my broker very much, and I know he's trying to bring new agents on board. The thought of disappointing him makes me queasy, and that's affecting my ability to think this through.
Failure.
I alluded to this in my last post. I've just closed on the last of five contracts and am not currently involved in a contract process. I have one buyer client who is not in a hurry AT ALL and only two or three weakish prospects. I'm working on it, but what if I can't do it? If I decide to leave right now I won't know whether I would have failed to make it work. If I do leave, I might fail at my writing ventures and whatever Plan B turns out to be.
Money.
Related to the previous. If I stay and am unable to work at least one contract by the end of the year, I will have lost another $1,000 (or close to it) in business expenses. If I leave, I walk away from a lot of potential income, especially given that I have some prospects for this year and leads for work after the new year. And although the height of real estate season is winding down, surely I can drum up at least one contract which would pay my business expenses and give us a couple extra thousand. OTOH, the last drought I endured, between initial contracts shortly after receiving my license and this last spate of contracts, was nearly twelve months. I won't do that again.
Now that these fears are exposed, I can see what pasty little ghost things they are, especially the first three. Time to loosen their power over me.
Eleanor Roosevelt said, "You wouldn't worry about what people think of you if you realized how seldom they do." My friends and acquaintances may take a minute or two to wonder why I'm quitting (if indeed I do) and what I might be up to next, and their musings will quickly be drowned by their own worries. And as for those I've "promised" to help, good for me I happen to know several top-notch agents I can refer them to.
My broker is a big boy. He's been in the business a long time, and though I know he likes me and thinks I have potential, he's seen hundreds of agents come and go. And I'm not exactly a million dollar producer. I think he'll live.
Failure is a matter of perspective. If a venture doesn't turn out as envisioned, it is a failure measured against initial expectations, but the venture has succeeded in moving me along a path to a place I would not otherwise have been, and along that path I've picked up new friends, new skills, and new strength of purpose. (Ok, not much of the latter yet).
The money worry remains a more legitimate concern. It should be the primary concern actually. I started this business solely for the purpose of bringing more funds into the household. So far I've done that, but not nearly the amount I'd expected for the hours worked. Monitoring my business and household budgets and being realistic about projected income will -- I hope -- help me decide this rationally, without a bunch of bugaboos clouding the process.
Command given by the celebrant before the final blessing and dismissal of an Episcopal service
I've been unable to make a major decision, telling myself I will take plenty of time to think things through, waiting until the fall to finally make a decision about whether to pull the plug on my business.
I'm stalling.
I am afraid I will regret leaving real estate. I am afraid I will regret not leaving real estate. The very worst thing I could do is never decide and continue to do a half-assed job at real estate while keeping a toe in my writing ventures. Success at anything requires commitment and focus and passion.
I've been in this sort of twilight world of non-commitment for a while now, long enough to have created habits of thought and attitude in danger of shaping me into a fearful, hesitant person. I want instead to be a fearless, open-hearted, adventuresome person!
To that end, and as a first step, I will drag my fears -- those niggly little worries that live in the dark crannies of my brain -- into the light. Here are a few:
Imagining What Others Will Think of Me.
I got my license a year and a half ago and have trumpeted it to all my friends and acquaintances. Will they think I'm flighty for leaving? Will they respect me less? I have four leads for next year, acquaintances/friends who want to list in the spring. What will they think if I walk away after I've promised to help them?
Disappointing my Broker.
I like my broker very much, and I know he's trying to bring new agents on board. The thought of disappointing him makes me queasy, and that's affecting my ability to think this through.
Failure.
I alluded to this in my last post. I've just closed on the last of five contracts and am not currently involved in a contract process. I have one buyer client who is not in a hurry AT ALL and only two or three weakish prospects. I'm working on it, but what if I can't do it? If I decide to leave right now I won't know whether I would have failed to make it work. If I do leave, I might fail at my writing ventures and whatever Plan B turns out to be.
Money.
Related to the previous. If I stay and am unable to work at least one contract by the end of the year, I will have lost another $1,000 (or close to it) in business expenses. If I leave, I walk away from a lot of potential income, especially given that I have some prospects for this year and leads for work after the new year. And although the height of real estate season is winding down, surely I can drum up at least one contract which would pay my business expenses and give us a couple extra thousand. OTOH, the last drought I endured, between initial contracts shortly after receiving my license and this last spate of contracts, was nearly twelve months. I won't do that again.
Now that these fears are exposed, I can see what pasty little ghost things they are, especially the first three. Time to loosen their power over me.
Eleanor Roosevelt said, "You wouldn't worry about what people think of you if you realized how seldom they do." My friends and acquaintances may take a minute or two to wonder why I'm quitting (if indeed I do) and what I might be up to next, and their musings will quickly be drowned by their own worries. And as for those I've "promised" to help, good for me I happen to know several top-notch agents I can refer them to.
My broker is a big boy. He's been in the business a long time, and though I know he likes me and thinks I have potential, he's seen hundreds of agents come and go. And I'm not exactly a million dollar producer. I think he'll live.
Failure is a matter of perspective. If a venture doesn't turn out as envisioned, it is a failure measured against initial expectations, but the venture has succeeded in moving me along a path to a place I would not otherwise have been, and along that path I've picked up new friends, new skills, and new strength of purpose. (Ok, not much of the latter yet).
The money worry remains a more legitimate concern. It should be the primary concern actually. I started this business solely for the purpose of bringing more funds into the household. So far I've done that, but not nearly the amount I'd expected for the hours worked. Monitoring my business and household budgets and being realistic about projected income will -- I hope -- help me decide this rationally, without a bunch of bugaboos clouding the process.
Saturday, July 7, 2012
Awash in Cash (Sort Of)
Here we are into July, and I'm no closer to making a decision about my business.
Tomorrow Kat and I go on a 5 day vacation with my family -- parents, siblings and their spouses, and lovely nieces and nephews. It's a frugal vacation for all of us. We meet at campgrounds on the nearby San Marcos River, rent tiny duplexes (with the required AC), and haul our own groceries. Five days of visiting, napping, playing cards, reading, and tubing down the river. Bliss!
The sticker shock for us is the price of providing care for our pets while we're gone. Our two big dogs are geriatric now, both with arthritis in their back legs. I researched the best place possible to keep them and found a kennel with private suites and in-door play areas that will give them quiet rest and air-conditioned exercise. For both girls, it's $75.00 a night -- choke! That's almost the cost of our own accommodations!! It's worth it though. We also pay our neighbor's kids $120 to take care of our cats, fish, outdoor ferals, and plants.
We've thought about a house sitter for all the pets, but we have one cat who is very crafty about dashing out the door. She is a house cat and would not make it outside, and we're afraid to lose her if we had someone here letting the dogs in and out. Also, the neighbor's kids are able to make money for back to school stuff, and I know their parents more than appreciate it. So this is just the cost of our going places, which is why we do so little of it (Something I am fine with, being a homebody and not liking to travel much).
We have better cash flow this year than we've had in a long time, and much less worry as a result. All of our travel expenses, including the pet care, will be paid cash, and at the same time, we've managed to bring the balance of our credit card from over $9,000 at the beginning of the year to $2,900.
But I've taken a look at our finances, and a lot of our increased cash comes from sources other than my real estate business. Kat received a significant raise at work last August, and in January of this year, the city extended medical benefits to domestic partners. My being on Kat's health insurance saves us nearly $200 a month, and the insurance is much better than my private insurance, so we're paying less out of pocket for physicals and such.
The cash flow has felt so good, I thought I was making more than I am. If I take my gross and subtract ALL business-related expenses, taxes, and tithe, I've made nearly $5,000 in profit so far this year. The expenses are more than I realized. As you know, $5,000 is not a living wage!! It's a nice supplement, and a big part of the reason that we're not worrying over money nearly as much, but is it worth it for the aggravation and the hours I put in? Could be too early to pull the plug, but I don't feel momentum going forward, and that's my fault. If I can't be passionate about this, I don't think it will work, but God I don't want another failed thing.
So as not to end on a glum note, I have to share that I feel unreasonably happy right now. Well, maybe not unreasonably. I WILL be with family tomorrow, with the very people who would not at all see this as "another failed thing" (and neither would Kat). That's one bad thought I need to somehow bar from this decision-making process.
Tomorrow Kat and I go on a 5 day vacation with my family -- parents, siblings and their spouses, and lovely nieces and nephews. It's a frugal vacation for all of us. We meet at campgrounds on the nearby San Marcos River, rent tiny duplexes (with the required AC), and haul our own groceries. Five days of visiting, napping, playing cards, reading, and tubing down the river. Bliss!
The sticker shock for us is the price of providing care for our pets while we're gone. Our two big dogs are geriatric now, both with arthritis in their back legs. I researched the best place possible to keep them and found a kennel with private suites and in-door play areas that will give them quiet rest and air-conditioned exercise. For both girls, it's $75.00 a night -- choke! That's almost the cost of our own accommodations!! It's worth it though. We also pay our neighbor's kids $120 to take care of our cats, fish, outdoor ferals, and plants.
We've thought about a house sitter for all the pets, but we have one cat who is very crafty about dashing out the door. She is a house cat and would not make it outside, and we're afraid to lose her if we had someone here letting the dogs in and out. Also, the neighbor's kids are able to make money for back to school stuff, and I know their parents more than appreciate it. So this is just the cost of our going places, which is why we do so little of it (Something I am fine with, being a homebody and not liking to travel much).
We have better cash flow this year than we've had in a long time, and much less worry as a result. All of our travel expenses, including the pet care, will be paid cash, and at the same time, we've managed to bring the balance of our credit card from over $9,000 at the beginning of the year to $2,900.
But I've taken a look at our finances, and a lot of our increased cash comes from sources other than my real estate business. Kat received a significant raise at work last August, and in January of this year, the city extended medical benefits to domestic partners. My being on Kat's health insurance saves us nearly $200 a month, and the insurance is much better than my private insurance, so we're paying less out of pocket for physicals and such.
The cash flow has felt so good, I thought I was making more than I am. If I take my gross and subtract ALL business-related expenses, taxes, and tithe, I've made nearly $5,000 in profit so far this year. The expenses are more than I realized. As you know, $5,000 is not a living wage!! It's a nice supplement, and a big part of the reason that we're not worrying over money nearly as much, but is it worth it for the aggravation and the hours I put in? Could be too early to pull the plug, but I don't feel momentum going forward, and that's my fault. If I can't be passionate about this, I don't think it will work, but God I don't want another failed thing.
So as not to end on a glum note, I have to share that I feel unreasonably happy right now. Well, maybe not unreasonably. I WILL be with family tomorrow, with the very people who would not at all see this as "another failed thing" (and neither would Kat). That's one bad thought I need to somehow bar from this decision-making process.
Wednesday, May 16, 2012
How to Spend a Thousand Dollars
Monday I finally closed on the deal I thought was falling apart a month ago. Yesterday I picked up my check from the office. Finally, something substantial! The money is going into savings for taxes, into business checking for upcoming expenses, and on the credit card.
Next week, if all goes well, I close on a small deal which will net me a little over $1,000. I should put it on the card and toward business, but I talked to Kat and we're going to pick something from our long list of deferred household projects. Here's where things get tricky. We have a pretty long list, and with money (almost) in hand, it's more difficult to prioritize than I thought it would be.
Right now -- after much discussion -- the top two contenders are a sleeper sofa for the office or a new washer and dryer. We have a futon now in the office for company, and we have a LOT of overnight company. Our bed and breakfast lifestyle is due to living in the lovely city of San Antonio with our families nearby -- Austin, College Station, and near Houston. In fact a a sister and two nieces will be staying with us over Memorial Day weekend. How wonderful to simply pull out the bed and provide a nice mattress for them to sleep on.
BUT, we guesstimate our washer and dryer to be between 30 and 35 years old. They were old when my aunt and uncle got rid of them for spiffier models, and we've had them over 14 years. I'm sure we're committing crimes against the environment by using them, and in the last couple of months they've added a variety of noises to the cacophony they already produce.
Even as I write this, I see the better use of the money is in the washer and dryer. It seems more a need than the sleeper sofa, is something we use more often, and could actually save us money on our utility bill. But we both want the sleeper sofa more, and I know us well enough to know that we don't provide a good brake for the other when we're wanting the same thing. Hmmm. Perhaps we can find some bargains and make this a both/and instead of an either/or.
I have to say, this is the kind of dilemma I like to have.
Next week, if all goes well, I close on a small deal which will net me a little over $1,000. I should put it on the card and toward business, but I talked to Kat and we're going to pick something from our long list of deferred household projects. Here's where things get tricky. We have a pretty long list, and with money (almost) in hand, it's more difficult to prioritize than I thought it would be.
Right now -- after much discussion -- the top two contenders are a sleeper sofa for the office or a new washer and dryer. We have a futon now in the office for company, and we have a LOT of overnight company. Our bed and breakfast lifestyle is due to living in the lovely city of San Antonio with our families nearby -- Austin, College Station, and near Houston. In fact a a sister and two nieces will be staying with us over Memorial Day weekend. How wonderful to simply pull out the bed and provide a nice mattress for them to sleep on.
BUT, we guesstimate our washer and dryer to be between 30 and 35 years old. They were old when my aunt and uncle got rid of them for spiffier models, and we've had them over 14 years. I'm sure we're committing crimes against the environment by using them, and in the last couple of months they've added a variety of noises to the cacophony they already produce.
Even as I write this, I see the better use of the money is in the washer and dryer. It seems more a need than the sleeper sofa, is something we use more often, and could actually save us money on our utility bill. But we both want the sleeper sofa more, and I know us well enough to know that we don't provide a good brake for the other when we're wanting the same thing. Hmmm. Perhaps we can find some bargains and make this a both/and instead of an either/or.
I have to say, this is the kind of dilemma I like to have.
Saturday, May 12, 2012
How To Make a Habit
My plan was to post much more frequently. Well, best laid plans and all that. Last weekend I took a client out and ended up in a bidding war over a nice, well-priced house. Fortunately my client's offer was accepted, but between the ensuing paperwork and the things I actually had planned for the week, my writing time was shot. But it doesn't have to be that way. I need new habits strong enough to stand up to the curve balls of life!
According to Charles Duhigg in his excellent book The Power of Habit: Why We Do What We Do in Life and Business, habits are automatic routines that allow us to navigate daily life without burning our brains out making decisions at every turn. Duhigg ends with a nifty formula for changing a deeply-rooted habit. A key component of his formula is identifying the craving a habit satisfies.
Duhigg gives an example from his own life of going to the break room at work every afternoon to eat a cookie. Wanting to break the cookie habit, he figures out first what he's craving. The sugar? The social time with co-workers? The exercise? It takes trail and error, but he finally realizes that his true craving is socializing. He takes the cue that triggers the routine - the cue being a certain time in the afternoon - and has that cue direct him to a co-worker's desk for a chat instead of to the cookie room. (Couldn't help but wonder how his co-workers appreciated his new habit).
A habit I am working on changing is flipping on the TV when I sit down to eat supper. If I don't have showings, I'm eating most days around 6:00 or 6:30 pm, so it's the local news or House Hunters, respectively. My craving isn't the TV so much as the need to unplug from the stresses of the day, to go into non-thinking zombie mode. The problem is that I don't have a 9 to 5 job. Kat works an afternoon/evening shift, and unless I have an appointment in the morning, I spend the time with her. So 6:00 pm or so is right in the middle of my work day, much too soon to unplug completely. But once the TV is on, it's hard to turn off.
So here is the new habit:
Cues: Time - 6:00ish; Sitting down to eat
New Routine: Sit at table and read while eating (something light that's not a page-turner); wash up dishes; return to desk
The reading should satisfy my craving to unplug - to not think about work for a bit - but shouldn't present as big a temptation to vegetate and not return to work. Once I'm in my office in front of the computer, it's easy to get to the task at hand, and if I do this enough days in a row, then voila! New habit. No more thinking about it or struggling with will power to avoid the TV.
Part of me thinks that I should have the will power to return to my desk regardless of the kind of break I take, but what I tell myself I should be able to do and what I actually DO do are two different things. We'll see how well this approach works.
According to Charles Duhigg in his excellent book The Power of Habit: Why We Do What We Do in Life and Business, habits are automatic routines that allow us to navigate daily life without burning our brains out making decisions at every turn. Duhigg ends with a nifty formula for changing a deeply-rooted habit. A key component of his formula is identifying the craving a habit satisfies.
Duhigg gives an example from his own life of going to the break room at work every afternoon to eat a cookie. Wanting to break the cookie habit, he figures out first what he's craving. The sugar? The social time with co-workers? The exercise? It takes trail and error, but he finally realizes that his true craving is socializing. He takes the cue that triggers the routine - the cue being a certain time in the afternoon - and has that cue direct him to a co-worker's desk for a chat instead of to the cookie room. (Couldn't help but wonder how his co-workers appreciated his new habit).
A habit I am working on changing is flipping on the TV when I sit down to eat supper. If I don't have showings, I'm eating most days around 6:00 or 6:30 pm, so it's the local news or House Hunters, respectively. My craving isn't the TV so much as the need to unplug from the stresses of the day, to go into non-thinking zombie mode. The problem is that I don't have a 9 to 5 job. Kat works an afternoon/evening shift, and unless I have an appointment in the morning, I spend the time with her. So 6:00 pm or so is right in the middle of my work day, much too soon to unplug completely. But once the TV is on, it's hard to turn off.
So here is the new habit:
Cues: Time - 6:00ish; Sitting down to eat
New Routine: Sit at table and read while eating (something light that's not a page-turner); wash up dishes; return to desk
The reading should satisfy my craving to unplug - to not think about work for a bit - but shouldn't present as big a temptation to vegetate and not return to work. Once I'm in my office in front of the computer, it's easy to get to the task at hand, and if I do this enough days in a row, then voila! New habit. No more thinking about it or struggling with will power to avoid the TV.
Part of me thinks that I should have the will power to return to my desk regardless of the kind of break I take, but what I tell myself I should be able to do and what I actually DO do are two different things. We'll see how well this approach works.
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