The $700B Bailout: it doesn’t matter what you think.
October 6, 2008 | 2 Comments
My conference meeting for the upcoming NCAA basketball officiating season is tomorrow. That makes this one of my favorite times of year. The basketball season is just around the corner. . .
A funny thing has happened every year I have been officiating basketball. Every year, there are changes to the rules, and the powers that be have yet to ask me my opinion before they change the rules. 7 out of the last 7 seasons (now 8 of 8), the NFHS and the NCAA have made rule changes, and neither of them has ever asked me about it beforehand. NEVER. How messed up is that?
I mean, really. I’m a hard-working basketball referee. I know the rules. I should be asked before rule changes are made! My opinion matters! My voice should be heard!
Oh, wait, that’s not right.
Rules will change. Live with it.
One of the major components of every college conference officiating meeting is going over the new rule changes, and their interpretations and enforcement. The changes have already been made at this point. There is no room for debate, only a time to make sure that everyone is knows the new rules and how to enforce them. That’s it.
Last year, the rules said one thing. This year, they say something else. Deal with it.
What we think about the bailout doesn’t matter
The Congress passed the $700B dollar bailout bill recently. I won’t bother linking to any particular story about it, since you can plug it into Google and get millions of results. Seems that EVERYONE has an opinion on the bailout bill. It seems to me that I have read a blog post from just about every blogger in my RSS reader, real estate or not.
Funny thing is. . .none of them matter.
Really, they don’t. None of the bloggers or real estate agents (myself included), or pundits, or experts that I have read or heard on TV have an opinion that matters. None of them had a vote on the bill, and Congress didn’t consult any of them about the bill, either. I like most of them, I think they are smart, but their opinion doesn’t really matter.
What matters is what we do now
Basketball referees can sit around all day and talk about whether the rule changes for this year are good or bad. But the bottom line is, when the ball goes in the air for the first game of the season, the players are going to play, and we are going to officiate according to the new rules.
Real estate agents can talk or type until exhaustion about whether the bailout bill is going to make a positive or negative difference in the housing market. But now, none of that talk matters. The time for discussion and opinion has passed.
The rules have changed. It’s time to deal with the game the way it is today, not how we wished it might have been. The intellectual exercise has been fun, but the folks who get to make the decision have made it. Time to get back down to business.
photo courtesy Frotzed2 via Flickr Creative Commons search
Focus is everything
July 8, 2008 | 1 Comment
In the real estate business, there are a lot of different things that can demand our focus at any given time. There are clients to respond to, inquiries to answer, agents and vendors to speak with, and that list doesn’t even include the various aspects of the actual business that need attention (marketing, service, lead generation, etc.)
Even though knowing where to apply your focus will change from time-to-time, focusing in the right place at the right time can often spell the difference between success and failure. This is a lesson of which I was very vividly reminded during my recent time at officiating camp. . .
Learning About Focus the Hard Way
It was just after 8:30 am on Sunday, the last of the three full days of basketball games. The early morning time, coupled with the mental and physical fatigue of constant officiating was bound to take a toll at some point, and boy did it ever.
About 3 minutes into the game, my crew and I were a bit off. We just weren’t working together as smoothly was we would have liked. Fatigue will do that. One one trip down the floor, I missed a rotation, meaning that I was out of position. I noticed it, and then I broke a cardinal rule of officiating– I took my eye off the player with the ball, who was MY responsibility. I shifted my focus from where it should have been. Instead, I took a glance at my partners so that I could figure out what the heck I was doing and get myself where I was supposed to be.
In the instant I shifted my focus, it happened– the player who I should have been watching hit the floor, holding the ball.
THAT got my attention. I caught just the last instant of the play, and when he hit the floor, the whole place went silent. It went silent because everyone was waiting on my to blow my whistle.
I blew the whistle. I had NO idea what to call. None. Completely blank.
I did the only thing I could think of that quickly– I called a jump ball and went to the possession arrow. In that situation, it was the least of many potential evils.
The coach, who was standing right behind me and did see the whole thing (just my luck), almost went apoplectic. Had it not been 8:30 on a Sunday morning, he probably would have, and I would have deserved it.
I did the only thing I could with the coach. I went to him and said, “Coach, I missed that one. You saw it. I didn’t. I lost focus. My fault.” Luckily, my admission diffused him as much as I could hope for, and the game went on. It could have been much worse. My momentary lack of focus could have really messed up the game for myself and my entire crew.
Focus is Everything
Just as in officiating, focus can mean everything in business. Where you direct your time and attention can have a tremendous impact on how the rest of the game plays itself out. As business people, we have to carefully consider what activities require our focus at any given time and concentrate on those activities 100%.
Sometimes, our focus must be on improving our marketing, other times on improving our service or education, and other times on meeting the immediate needs of our clients and customers. It is a good idea to take stock of your business on a frequent basis so that you can help determine what area might need your focus at any given moment. If I would have done that on the basketball court, I would have realized that my focus needed to be on the play in front of me, and not on the position of my partners.
Taking stock might mean that you review and prioritize your tasks for the day. It might mean that you review your business plan quarterly or even monthly to track your goal progress. Try to get in the habit of self-evaluation so that you can easily determine where your focus needs to be at any given point. Once you have done that, all that’s left is to FOCUS. CONCENTRATE. Give it 100%. You’ll be surprised how much more motivated you feel when you know that the work you are doing is the most important work to be done.
My momentary lack of focus had ramifications that lasted only minutes. In a different situation, it might have determined the outcome of a game or a team’s entire season. Like I said, I got lucky.
You don’t want to rely on luck. Focus now. Develop the focus necessary to lead you to your goals. Learn to direct your focus appropriately. I know that basketball coaches appreciate it; and so will your bottom line.
Be Movitated, but Be Thankful, too
June 25, 2008 | 2 Comments
I had a great time at my referee camp. I always come back with VERY tired legs and a head VERY full of new officiating info that I can use during the upcoming season. I told you before I left that I would give you a little glimpse of what it is like to go to officiating camp. I didn’t get to take as much video as I would have liked (at least 3 games per day will do that), but I did spend a few minutes one morning making this:
There has been quite a movement in officiating to hire not only good referees, but good people, too. One aspect of that is humility. Being a successful referee is one of the few things that I have ever done that simultaneously requires a huge ego and ultimate humility. It is a delicate balance that all refrees strive for. Some are able to do it. Some don’t.
For the ones whose ego gets a bit too large, it is important to remember that nothing is guaranteed. As quickly as the success came, it can be taken away. The most important game is always the next one, and be thankful that it is on your schedule.
Real estate is the same way. We are all independent contractors, running our own businesses. We are our own bosses. This does not, however, mean that we answer to no one. There are still responsibilities, to clients, to collegues, to family.
The one true path to success in this business requires that you remain motivated, but that you also remain thankful. Take nothing for granted, and remember that you are owed nothing.
It is a delicate balance, but one that I was reminded of this past weekend every time I put on the stripes.
The Zebra is Going to Camp. . .
June 19, 2008 | 2 Comments
. . .officiating camp, that is.
This evening is the beginning of the D-3 Supercamp I attend annually. It is always a good time, and filled with tons of learning and officiating. This year, I think I might take the camera with me and see if I can get some video that will give you all a glimpse into the behind-the-scenes world of basketball officiating.
There is always something that makes me think of business and real estate, so this year, I’ll try to share the lessons when I am back in the office on Monday.
Wish me luck!
Dr. Lawrence Yun Is A Zebra
April 3, 2008 | 11 Comments
Last week, I had the opportunity to have lunch with Dr. Lawrence Yun, Chief Economist of the National Association of REALTORS. Of course, it wasn’t just me and him, the group was made up of myself and fellow bloggers Jim Duncan, Matthew Rathbun, Danilo Bogdanovic, Scott Rogers, Ben Martin and the CEO of the Virginia Association of REALTORS, R. Scott Brunner.
Sitting down for lunch with Dr. Yun was a unique opportunity. Sitting down for conversation with a group of insightful and intelligent REALTORS made the opportunity all the more valuable. We will be sharing our experiences today. Make sure to read all of the posts, since you are sure to get very different perspectives from everyone. Here’s mine. . .
Looking at Lawrence Yun Through a Zebra’s Eyes
When I have meetings like this, ones in which I am meeting someone for the very first time, and especially someone who has a popular perception that precedes him, I always rely on my experiences and training as a referee.
Why do I do this? Simple– as a referee, I am constantly interacting with coaches on a professional level in highly charged, emotional and potentially confrontational situations. When I meet coaches for the first time, I have a very short period of time (sometimes, literally a handshake) to establish credibility and try to discern from them how a game will go. I have to be very observant, learn as quickly as I can what makes them tick, how they react in certain situations, what will set them off, what will calm them down, etc.
I approached the lunch with Dr. Yun the same way. I approached him as I would a coach. Sure, I’ve heard all of the criticism of Dr. Yun, but I wanted to meet the man for myself. I wanted to find out what makes him tick and how he really feels about certain issues. These are the things beyond his title as Chief Economist of NAR. These are important things.
Dr. Yun Doesn’t Shrink from Criticism
All of us at the lunch knew that this wasn’t an interrogation. It wasn’t even an interview, really. It was a discussion. Of course, we all came prepared with our questions, and he was very ready to answer them. In I guess what you could call an attempt to address the elephant in the room the very first issue addressed was the vehement criticism of Dr. Yun from the blogosphere. We wanted to know if he reads the criticism, and what he thinks about it.
He didn’t flinch. His response was that he doesn’t seek out the criticism, but that his colleagues occasionally make him aware of it. He knows that criticism is an important part of a free society. What impressed me about his response was that he actually appreciates the criticism, when it brings up valid points and arguments. He wants to know when people have a problem with the forecasts and analysis of the NAR research group. His answer had no hint of hubris, or conceit. He didn’t brush the criticism aside, even if he doesn’t always agree with it.
The Data is Sacred
Going into this lunch, I was very interested in the process that goes into NAR economic forecasts and analysis. My contention has always been that since economists are scientists, you can say whatever you want about them personally, but the thing that really matters is the method behind what they do. You might night like the personality of an economist, but if his method is sound, then you can’t call him a hack, or accuse him of any malevolence.
The thing that Dr. Yun mentioned more than once when we talked about the forecasting process is that, “the data is sacred.” He has a deep understanding and appreciation for the fact that great care must be taken to ensure that the data upon which forecasts are based must be the best data available, and that it must be trustworthy. Without that, the whole process fails. This is one reason why he doesn’t personally compile the data. He has a staff of economists that independently gather the data and then share it with him. He merely applies his forecasting models to the collected data. This data is gathered from various sources, some through NAR research, and some through the research of various government agencies.
When talking about the forecasting and research process, it was very apparent that Dr. Yun has a very high regard for the method used. There was no equivocation, no wavering, no disclaimers, “the data is sacred.” It was important to hear him say that.
When it Rolls Down Hill, Guess Who Stands at the Bottom?
While we were talking about the processes behind what comes out of NAR, Dr. Yun mentioned that he is involved in the NAR meetings about national messaging. You know, these are the meetings that are partially responsible for all those TV and radio ads that we just love.
Knowing this prompted me to ask him a very pointed question, “since you are involved in the messaging meetings, are the other executives at NAR involved in the forecasting process?” To me, this is important. Dr. Yun’s answer was simple:
“No. The buck stops with me.”
When it comes to releasing the forecasting and research reports, Dr. Yun lives on an island. He alone is responsible for the releases. He alone is responsible for making the tough calls. There is no one adding input, no one telling him what to say. He gets all the glory (when there is any to be had), and he definitely bears the brunt of all the criticism.
What surprised me was that I had no idea how dependent upon NAR data our entire economy is. We discovered that Dr. Yun is in constant contact with government agencies and economic powers. Whenever the government needs housing market data, guess who they call? When foreign governments and financial institutions have questions about the American housing market, guess who they call?
This revelation gave me an interesting perspective on housing market questions. Having a client stop me in the grocery store and ask me, “how’s the market?” is quite a bit different than receiving the same question from the Department of Commerce.
Lawrence Yun Is a Zebra
Now having met Dr. Yun in person, sitting next to him, breaking bread with him, listening to him, observing him, digesting his answers, it became apparent to me that Dr. Yun would probably make one heck of a basketball referee. Here’s why:
He can take criticism (he surely gets plenty of it). This is one of the most basic things that a basketball referee needs to learn. People are going to scream and yell at you, people are going to hate you sometimes. The trick is knowing which voices are valid, and which ones are just yelling. Sometimes it’s about ignoring the way in which someone criticizes in order to figure out if their criticism is valid.
He respects the fundamentals of his work. For referees, it all starts with the rules. If you don’t know the rules, you can’t possibly do a good job. Mistakes in judgement will be made, rules mistakes are unacceptable. For Dr. Yun, it all starts with the data and preserving the integrity of the data and the process by which it is gathered and interpreted.
He embraces the finality of his responsibility. When the whistle blows, everyone stops and looks at you. Basketball referees live and die by every call. Every referee knows this and doesn’t shy away from the tough calls that must be made. Dr. Yun knows that the nature of his position is such that he leads with his chin. In the end, he knows he can’t pass off his responsibilities to some one else. The forecast models are his, the reports are his, and he can’t point the finger at someone else. He is not only aware of this fact, but seems to embrace it.
What I Learned
Coming into this lunch, I didn’t really have any expectations. I just wanted to try and gain a better understanding of Dr. Yun and try to see his job through his eyes. Plenty of other people have offered their opinion as to what he does, so it was interesting to me to hear how he interprets his work and his responsibilities.
One of the things that was quite refreshing was the candidness of Dr. Yun. He didn’t dodge any of the questions. That’s not to say his answers weren’t diplomatic, but he didn’t dismiss any of them. He also is very open to interaction with the membership. It seems to me that he genuinely cares not only about his job, but about the job that REALTORS do on a daily basis. There was much discussion about how his department could help REALTORS on the ground in their daily interactions with the public. I almost got the sense that he wishes he could have more interaction, but that he understands the line that must exist. He never specifically said that, but that was just my impression. To his credit, the research department seems more available and willing to engage now than ever before.
This lunch was a very valuable experience. It gave me a new way of looking at some of the criticism that is sure to come when the next market forecast is released. I got to see things from another perspective, and a very important one, at that. More than anything, I got to shake the man’s hand, look into his eyes, and make a determination for myself how I felt about him. The verdict–
somebody give that guy a whistle and some stripes
UPDATE:
Here are the links to the posts of the other attendees:
Danilo Bogdanovic
Jim Duncan
Scott Rogers @ VARBuzz
Matthew Rathbun @ AgentGenius
Ben Martin, blogger and VAR Staff/Social Media guru
Let Me Share My Nightmare, Learn How to Prevent Yours
March 18, 2008 | 3 Comments
I’ve written about the basketball official’s pre-game conference, and how that lesson applies to real estate. The same is true for the rigorous post-game evaluation that officials do. Post game evaluation is very useful to basketball officials. Every game is filled with calls that could have gone one way or the other, and despite what you might believe, basketball officials don’t get every call right. 
We do strive to get every call right and to be as successful as possible. Post-game evaluations are a critical part of that endeavor. Evaluating decision-making and the actions that lead to those decisions go a long way to putting yourself in a position to succeed.
Let me share with you a VERY personal example of what I mean
The next-to-last game of my season took place during the local High School district tournament. It was a semi-final game. Due to the way in which the seedings worked out, the winner of the game received an automatic birth to the state tournament. The stakes were high. The game was close.
With about 10 seconds left, the home team (white) was inbounding the ball, trailing by 2 points. They inbounded on the side of the court opposite of me, meaning I was all alone on my side. As the play developed, white made a pass to a player in front of me. Officiating mechanics dictate that I should move toward the baseline when this happens to get a good look at the play. I did that. Almost immediately, the player in front of me began to dribble towards the top of the key, away from me. After about two dribbles, the ball bounced off a foot and went out of bounds. From my angle, the ball appeared to have bounced off of white’s foot. I hit the whistle, pointed, and yelled “RED!”
The home crowed went nuts. As did the white team’s bench, since the play was literally a few feet in front of their head coach (who wasn’t very happy). He asked my partners to intervene, but that call was all mine. Mine alone. I made it. The home team ending losing the game a few seconds later, ending their season.
It was gut-wrenching.
I immediately went home to watch the tape of the game on the local news station. Luckily, the cameraman had an angle that was completely opposite of mine, and completely unobstructed. As we say in officiating, “the tape don’t lie.” If the camera was rolling, my call was on that tape, and it would be in the highlights.
It was. I went home and watched that play DOZENS of times. I practically wore out the DVR going forward and backward, slow motion, pausing. Every time, the play was the same. The ball went off a foot, out of bounds, I called “RED!” and everyone reacted.
The funny thing was, as many times as I watched it, I still couldn’t tell if I was right or wrong. I had Kari watch it, she couldn’t tell either. I used every indicator I could think of from reaction of players to the physics of basketball to evaluate that call.
I’ll just have to live with the fact that I’ll never truly know if I got it right or wrong. That is a tough thing for a referee to have to accept. I did, however, find out what the participants thought.
Learning from my nightmare
Luckily, that is not the way my season ended. It actually ended a week later with a very competitive state regional championship. I was very pleased. I will always remember that one play, however.
As a referee, it is my responsibility to learn from it, and I know that I have. I now know that if that situation arises again, I am going to have to be more aware of the ball potentially going out of bounds, and I will work even harder to get on top of that play, or move towards the sideline in an attempt to gain a better angle.
That’s it. One simple change. It will probably require 2-3 physical steps, maximum. Doing that might prevent that nightmare from ever happening again.
Good. Lesson learned. On to the next game.
Applying Post-Game evaluation to Real Estate
Post-game evaluation is drilled into the head of every successful basketball referee. During the upcoming NCAA tournament, EVERY CALL of EVERY OFFICIAL is tracked and evaluated (its a tournament for the refs, too). In the NBA, the league makes a tape of every game and edits together the good the bad and the ugly of the officiating and requires the refs to watch that tape immediately after the game.
You should be just as rigorous in evaluating your own performance. You should evaluate every transaction, every marketing plan implementation, every decision you make that affects your business. Be hard on yourself (but not too hard). Hold yourself accountable.
When things go wrong, don’t wallow. It’s okay to feel bad about things for a moment, but if you want to prevent bad things from happening in the future, you need to learn from whatever mistakes you may have made. If you did things right, you need to take the steps necessary to repeat those decisions.
Better yet, ask your clients what they thought of your performance. Encourage them to be honest and offer suggestions about things that you could do better. Do whatever it takes, ask whatever questions you must, gain all the information you can so that you can continually improve.
Post-game evaluation is a critical process for the success of every basketball official. If you make it part of what you do, your chance to be a successful real estate professional will increase exponentially.
Sit at the ZebraTalk Table and Partake of the Knowledge Feast
February 19, 2008 | 2 Comments
Last Friday’s episode of ZebraTalk was a real doosie. Besides spending time going over what it takes to apply the Superstar Attitude to your business, and finding out all about the latest news from REBarCamp ‘08, a very enlightening round table discussion took place.
Take a listen to the show, but you definitely won’t want to miss the last 25 minutes or so of the broadcast. . .
Guests on the show included Andy Kaufman, who gave his REBarCamp ‘08 update.
Jeff Turner, of Real Estate Shows.com
Mike Price, of MLBroadcast.com
Ben Martin, Association Executive Superstar of the Virginia Association of REALTORS
Rudy Bachraty, Social Media Guru from Trulia
Benn Rosales, the UberGenius
Towards the end of the show, we just sort of hung out a little and talked about the social media issues of the day, and how they relate to the real estate industry. Rudy posted a particularly good review of the discussion yesterday.
This is what I hoped ZebraTalk would be all along, a place for industry experts to gather, discuss, learn and grow. More of the same is sure to come, so don’t forget to check out the ZebraTalk homepage for updates on upcoming episodes, and archives of past episodes. Most importantly, be sure to listen to the shows live, participate in the chat sessions, call-in, and heck TELL A FRIEND!
A Lesson in Honesty (In Black and White)
January 24, 2008 | 5 Comments
It has been 1 month since Episode #1 of Real Estate in Black & White. That episode generated some discussion. I took all of the comments and suggestions and let them ruminate for a while. Now, I am happy to share with you. . .
Real Estate in Black & White Episode #2– A Lesson in Honesty (or Why I Love my Dad):
Now for the rest of the story. . .
The game footage in the video was taken early in December at a game I worked at Fork Union Military Academy (that explains the attire of the crowd). During the game, Kari was taking footage of me so that I could review the tape after the game for evaluation (another reason I love her). She took the impromptu footage of my parents.
What You Should Know About my Dad
My Dad is a REALTOR, too. He is a property manager here in Charlottesville. So, when I use my Dad as an example of what a REALTOR should be, you can rest assured that he is representing the profession well.
My Dad is a good man. Part of that is because, above all things, my dad is an honest man. For as long as I have known him, I have never known him to tell a half-truth or spin anything. That’s not to say he can’t be diplomatic, but he never does anything at the expense of truth and honesty. This is true in everything he does, be it professional or otherwise, as the video clearly shows.
If you ask my Dad a question, you can rest assured that you are going to get an honest, straightforward answer. Hence the reason why you now know that my Dad believes the best referee is Norm Drucker, whether or not his son is wearing stripes.
You gotta love Dad.
REALTORS Could Learn a lot From My Dad
Honesty is a lesson that REALTORS would do well to learn and practice. This is more true than ever, given all the questions that our clients and the public have about the state and future of the real estate market. We have a duty to our clients to be honest and forthright with our answers, regardless of whether or not the truth is pretty.
Sometimes, I think honesty suffers in our profession because of the desire of REALTORS to please people. Look, nobody wants to hear bad news. Sometimes, however, bad news is exactly what people need to hear when it is the honest truth. As REALTORS, we have a duty to our clients and the public to be open and honest. Being honest on the individual, personal, level will do more to enhance the public perception of our profession than any PR campaign could hope to achieve.
Honestly, REALTORS should be more like my Dad.
Success Depends on Concentration
November 29, 2007 | 1 Comment
Today, A Zebra Shows His Stripes
November 15, 2007 | 4 Comments
If you have been following along with my NAR 2007 coverage, you know that on Tuesday, I attended a presentation by Seth Godin. The message he shared was, “be remarkable.” Today, I am going to try to do just that. But first, some background. . .On the way to the airport to head out to Vegas, Kari and I were discussing how to promote RealEstateZebra.com. We talked about the idea of me actually wearing a referee shirt, or at least some zebra-themed clothing. In a way, I already do this, as Kari gave me a wonderful pair of Zebra-striped cufflinks for my birthday last year (I love great cufflinks). Seeing as how I didn’t bring any referee shirts with me (duh), we kinda blew it off. Then, when we were at the Seth Godin presentation, Jeff Turner turned to me and said, “hey man, you could wear stripes.” Again, we joked about it, and I sort of blew it off. He also posted this picture of the people working the Chase Bank booth at the Expo on his Twitter with the message, “Will the real Real Estate Zebra please stand up.” I don’t want there to be any doubt, and today is a perfect opportunity to do that. I will be doing a “Meet the Bloggers“ Q&A at the NAR Expo today at 10am. This is what I am wearing:
So there.Today is the day I show my stripes. I haven’t even been to the expo yet, and I have already had two people comment on my shirt. I guess that means it is, at least in some small way, remarkable.I’m going to wear the shirt all day at the Conference. I’ll see how this goes, and I’ll share my thoughts about the whole experience in another post. [tags] real estate, realtor, NAR2007, officiating, [/tags]
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Disclaimer
My name is Daniel Rothamel. I am a licensed real estate agent in the Commonwealth of Virginia and a member of the National Association of REALTORS. As such, I adhere to a strict code of ethics and all laws with regard to equal housing, which is reflected in the content of this blog. My broker is Strong Team REALTORS, 86 Joshua Lane, Palmyra, VA 22963; (434) 589-5800. My VA Real Estate License number is 0225 077325. All of the opinions in this blog are mine, unless otherwise noted.
