Welcome to the 2010 Winter Issue of the S.E.C. Observer. William F. Richert, S.E.C. President, looks back on how the Society began in 1961, where it is now, and why the organization has endured for nearly 50 years.
Jim Brondino, S.E.C., CCIM, conveys his formula for understanding your client so completely that you can confidently “present the taker” when you initiate transactions. Rod Stewart, S.E.C., tells us “where the deals are” and how to find them; Hunter Quistgard, S.E.C., shares his formula for getting “yesterday’s sale price” in today’s market.
Lance Warner, S.E.C. Education Foundation President, welcomes 2010 with plans for expansion and increased courses around the country. Stephen R. England, S.E.C., a past president of the Society and the S.E.C. Education Foundation, is “in the spotlight” this issue and you will learn how his travels led him to a career in real estate.
The History Files this issue are dedicated to “time management” skills with tips from Jim Misko, on how to get more done; and a “Fan Editorial” from the September 1976 issue that emphasizes the importance of “phrasing the correct question” when you problem solve.
Enjoy this issue, and as always, we welcome your comments, suggestions, and submission of articles to be considered for publication. Please contact the S.E.C. office via email sec@secounselors.com.
Jackie Hellingson
S.E.C. Observer Editor
S.E.C. President's Message
The Way We Were (and Are)
The year was 1961 — John Fitzgerald Kennedy was the 35th President of the United States. A country called the Soviet Union rivaled the United States for world supremacy and space exploration, putting the first human in space in April. In May the U.S. answers with Alan Shepard’s flight and the President vows to put a man on the moon before the end of the decade. Construction of the Berlin Wall begins, the Beatles perform for the first time at the Cavern Club, Roger Maris hits 61 home runs for the Yankees and the Vietnam War officially begins in December with the arrival of helicopters and 400 U.S. troops in Saigon.
:: read this articleFeature Articles
Presenting the Taker
Knowing the client is one of the major keys. This takes time and preparation. Finding out what is important to the client, and not you, is critical. By approaching the client in this manner a rapport and a relationship is established. This relationship involves establishing an orderly way to address the client’s needs and solving the “problem” the client is experiencing. In order to achieve the relationship one must delve into the client’s past, their current state of affairs and what they expect in the future. This allows you to understand the entire picture of the client’s circumstances. Understanding the total set of circumstances surrounding the client provides us with the information we can draw upon to formulate, create, and design a feasible transaction.
:: read this articleSociety Columns
Where the Deals Are
The world of investment real estate has changed. In the 12 short months since the economic recession finally hit Wichita, everything about our commercial real estate market has changed, and those who do not recognize the new environment are destined for frustration and failure.
:: read this articleFormulas and Strategies
Yesterday’s Sale Price in Today’s Market
The client is desperate to transact the listed property to get off of the loan payments and get enough cash to solve some other issue. The listed price is $600K, but the current market will only bring $500K and the client is still in yesteryear on values. The loan is $350K. An S.E.C. broker knows that there are many ways to get people to their objectives over the resistance of advisors, lenders, third party influence, etc. One solution is to disguise the fall in value and avoid the seller’s lack of reality.
:: read this articleS.E.C. Education Foundation
S.E.C. Education Foundation
The S.E.C. Education Foundation Board looks forward to 2010 and anticipates that creative real estate education will continue to be a valuable tool for commercial real estate practitioners. The Foundation is working to provide you with quality education in various locations around the country. Please consider helping us spread the word about the Foundation’s efforts by contacting your local organizations and suggesting one or more courses that they might consider sponsoring in your area.
:: read this articleSociety News Briefs
S.E.C. Marketing Conference - January
The S.E.C. National Invitational Marketing Session will be held at the Planet Hollywood • 3667 Las Vegas Boulevard South • Las Vegas, NV.
:: read this article Education Extravaganza
The S.E.C. Education Foundation is pleased to announce that Bill Exeter, Rich Michelson, and Todd King will each present a segment of education on Sunday, January 17, 2010, in Las Vegas, Nevada.
:: read this article S.E.C. Marketing Conference - March 2010
The S.E.C. National Invitational Marketing Session will be held at the Sheraton Austin • 701 East 11th Street • Austin, Texas • 78701.
:: read this article President’s Cup Award
The Kansas CCIM Chapter has been awarded the coveted title of the Presidents Cup Award as the best small CCIM Chapter in the United States. All of us should be a part of something that is judged to be the best in the country at some time in our lives.
:: read this articleIn the Spotlight
Stephen A. England, S.E.C.: Biography
Steve England was born in 1946, and raised on a 3,000 acre irrigated farm and ranch southwest of North Platte in Lincoln County, Nebraska. The farm was complete with 300 head of cattle, crops and hay and was operated by his father and two of his uncles.
:: read this articleThe S.E.C. History Files
Time Management
I’ve tried a thousand ways to get more done in a day and the following methods are the ones that work for me. Maybe they will for you. The night before when you go to bed you have chosen a time to get up. When that time comes don’t fight it. At the first sound of the alarm, throw your feet out on the floor and stand up, and MOVE toward whatever you do first. With your day started that way, nothing will be able to withstand your attack.
:: read this article What is the Question?
The best problem solvers we all have known always asked a lot of questions, didn’t they? Quick solutions were seldom forthcoming, and multiple-choice selections of answers almost never readily available.
:: read this articleExeter 1031 Exchange News
Strategic Management of Tax Liability: A New Way Out
How many times have you heard, or made these comments? “If I sell my property I am going to get killed with taxes.” Those of us who own highly appreciated assets such as homes, commercial real estate and businesses, are often reluctant to sell that asset because of the capital gain tax and depreciation recapture costs associated with the sale.
:: read this article
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