S.E.C. Real Estate Observer

With the success of Harry Hustler’s debut as a speaker at a recent state NAR meeting, which he was invited to share and impart his long tenure real estate wisdom, Harry was asked to remain for a more e intimate round table discussion after the main festivities. Harry, uncomfortable with the modest notoriety, was however heartened that this extension and further definition of his business philosophy in the hope that it may help some looking for a new and different perspective to incorporate into their brokerage and real estate repertoire.

Harry Hustler, as he had done countless mornings before, stirred a little sugar into his first cup of Starbucks “high test” and opened his Wall Street Journal to purvey the business happenings of the day. The news remained bleak. Bernie Madoff gets 150 years in the crowbar hotel. GM can’t quite figure if it is a car company or a political operative. Iran is suppressing the masses. Unemployment continues to rise. Real estate continues to take a hit. Harry read on, getting his morning elixir of the economic mess our politicos, bankers and Wall Street friends have showered upon all of us within the last couple of years. However, in the economic strife-torn malaise of doomsday prognostications, Harry has remained comfortable in his circumstance, but unsettled by the unrest.

As we all know, it’s hard to fly like Superman not only when your cape is on fire, but when you have a portfolio filled with Debt laden properties that are ready to hit the proverbial lender graveyard. Historically, Debt has undermined many great fortunes. Among our founding fathers, Jefferson, Adams and Franklin, (and most of the other founding fathers) experienced the continual and unrelenting anxiety associated with maddening Debt.

The recently well attended S.E.C. meeting in Carefree, Arizona, was the epitome of a selfless collaboration of problem solving professionals. The treasure trove of experience, knowledge and creativity highlighted a most productive marketing session.

January 15, 2020
As one of the elder statesmen of the Society, I am most pleased to welcome so many current and former S.E.C.’s and their families to this unique and special occasion. The Society celebrates its sixth decade in existence and has honored that milestone in the form of this fabulously, imaginative architectural facility coupled [...]

One of the great things about our business is that we not only continue to learn new concepts and creative ideas, but we are continually reminded of the “tried and true.” Cort Parker, a vibrant and gifted Society Member, introduced a valuable visual concept many years ago. Cort developed a matrix or chart, which separated [...]

Ethics (Greek ethika, from ethos, “character,” “custom”), principles or standards of human conduct, sometimes called morals (Latin mores, “customs”), and, by extension, the study of such principles, sometimes called moral philosophy.
Late in 2001, I mentioned to several S.E.C. members that the Ethics and Arbitration section of the S.E.C. Bylaws were outdated and required revision. I [...]

“Creativity”… a word that has been used in symbolizing one of the great philosophical freedoms we possess. As Society of Exchange Counselor members, we have the unfettered ability to explore and propose new and different aspects of our business and Society life with counterparts in a non-threatening atmosphere. As a result, we profess the highest [...]

Most if not all of us have had to sign a personal guarantee. A bank or other credit lender to further facilitate and securitize a loan usually requests this. It generally means that if the loan is in default the creditor may seek further restitution by filing a legal action against the guarantor personally for [...]

I do not know where the REO connotation originated, but I presume that it in the late 70’s and early 80’s it was synonymous with the line item category used by banks and savings and loans to designate properties that had been foreclosed upon or that were of no further use to the bank, (like [...]