S.E.C. Real Estate Observer

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.

Opportunity is only possible when we identify something within a property, problem, or situation that others cannot see. How do we do that? There are many ways to solve a problem and locate the opportunity without knowing how to do it ourselves. We do that by collaborating with others.

What will our economy look like in one to three years? Will our large national banks all be government-owned or will Wall Street figure out a way to sell stock to the public, which will bail out our government and return the banks to private ownership? Will the unemployment rate be 5% or 50%? Will our loans be forgiven? Perhaps the government will take over the non-performing loan portfolios and become the landlord of the millions who cannot afford housing. Will GM be 100% employee, union or government-owned? Or will all the plants be taken over by foreign manufacturers? I find it remarkable that between the date I began writing this article and today, this question has already been answered! I don’t believe that anybody knows where our businesses, or the economy for that matter, will be six months or thirty-six months from now. Frankly, I find it bothersome to speculate.

It is my right to be uncommon—if I can. I seek opportunity—not security. I do not wish to be a kept citizen, humbled and dulled by having the state look after me. I want to take the calculated risk; to dream and to build, to fail and to succeed. I refuse to barter incentive for a dole. I prefer the challenges of life to the guaranteed existence, the thrill of fulfillment to the stale calm of utopia.

For many, many (perhaps too many) months, we watched the presidential campaign unfold into an election that will secure its place in the history books. In perspective, my appointment as President of the Society of Exchange Counselors seems totally unremarkable. However, this year we will be swimming in uncharted waters. The economic climate and multifaceted challenges that our industry will face during this year of unrest may elude even the savviest of financial forecast analysts. Any great explorer will tell us that the unmarked territory has the greatest potential to harvest tremendous yields.

I have just begun reading Tom Brokaw’s best-selling book The Greatest Generation. To quote from the inside jacket of the book, “Brokaw brings to life the inspiring stories of men and women who gave new meaning to the ideals of character and strong values. From military heroes to community leaders to ordinary citizens, he profiles people who served their country with valor, then came home and transformed it.” [...]

Normally, during the summer months of a presidential election year, the ongoing top news story is about the candidates and the upcoming party conventions. This year, however, there is one ongoing news story that is topping the charts above politics: the price of oil and its effect on all products made from oil. [...]

What an honor it is to serve the Society of Exchange Counselors as president for 2008. Founded almost fifty years ago, the organization is still thriving, growing, and creatively marketing real estate in all fifty states, Canada, and other places in the world. Our founders would be pleased that the vision they had did not die but flourished into the leading real estate marketing organization in the country. When I look back on all the individuals who have served and led this organization, I am humbled to be asked to serve [...]

Every good thing must come to an end, and my term as President of the Society of Exchange Counselors is no exception. So, I write my last President’s Message with both relief and, to some extent, a feeling of loss. [...]

“If you don’t know where you are going, you are certain to end up someplace else.”
- Phil Corso, a famous S.E.C. President
“If you don’t reinvent yourself every 3-4 years, someone else will.”
- anonymous business school professor
The S.E.C. is not a political group. Obviously, our members have political views and some of our members are very [...]