Snake Oil Salesmen!

There are real estate agents in Las Vegas, NV that I truly don't want to work with. (Sorry about ending a sentence with a preposition.)

The reason is: I don't understand these agents obsession with wanting/having to double end every deal (List and Sell) that they have.  I love double ending deals, too.  But, if another agent has a qualified buyer, there's no skin off my nose to split the commission.

And, their mentality about this element is very, very annoying.

You call them to ask a question about one of their properties; and they never, ever take your call, return your call, nor even reply to an email.

(Now, I want to out these agents! I truly do.  Yet, in the future, I will have to have some form of transaction with them (hopefully, not) but they are here and don't seem to be going away anytime too soon.)

Recently, I was talking to a group of attorneys who own a building where the three are partners in the building where they also have their offices located.  One is moving on -- as in being kicked out of being an attorney (it happens); one is going on a mission (retiring); and the third wants another (better) location.

Anyway, I made a pitch for the listing and told them that I thought their building would sell at around $183 PSF!  Good price given the fact that the last ten years worth of real estate foreclosures really drove prices way down.

Yet, when I was done with my presentation, one of the attorney partners boldly stated that I had used the wrong comparable sales!

Say what?

He said another broker (actually the other broker is an agent) had told them that he could sell their building at $215 PSF.

I was like, really?  The partner attorney said that the broker (the other agent) had better comps.

I reiterated that I had used the best comparable sales within their zip code and all the zip codes around them.

I asked which comp specially did he use to use as in like to like properties?  The partner attorney said the address.  I was stunned.  Apparently, the other broker (agent), had used an ambulatory building (an urgent care facility) as the best like property to their subject basic office building.

Now, the finishes in the subject property are upgraded; there is marble flooring in the entry -- and along the carpeted halls; there is wood trim everywhere with an upgraded reception desk, too.

But, since the ambulatory building sold six months ago to an investment group buying the property as a NNN investment, sure, the price PSF is going to be higher, but: IT'S NOT A COMP!

It's not a like for like property.  It is a completely different building and use.  And, the zoning is heavy retail.  (They are in a Professional Office Park.)

And, I reiterated all of this to the group in the hopes of dis-swaying them, yet I got the feeling they were NOT impressed.  They had been SOLD by the other agent.

Anyway, long story short -- I didn't get the listing.

After returning to my office, I was re-telling my adventure to one of my two agents.  After, the retelling, she stated: Snake Oil Sales Men!  She knows the agent to whom I am referring to.

I could only agree.  Yet, I told her, there are three attorneys and if something goes wrong during the listing, at least I won't be the one facing 3 angry lawyers with the capability to sue.

God, I want to disclose this company's name.  No, I better not.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

Finally a Women Says What I Said Last Year: Women Should Invest More!

Almost a year ago, I wrote a blog about the major discrepancy between the genders.  It was about the gender gap when it comes to investing in Commercial Real Estate (CRE).

Well, now a female CEO has spoken up about women investing in general; and I was glad to read it.

Here's what I wrote October 27, 2015.

"Commercial Real Estate (CRE) and women seem to dislike each other.  I don't know if it's a full blown cat fight, or just a "thing" where one woman wore a dress better than the other.

But, since I have been working in CRE, women do NOT tend to be the one out searching for the better CRE deal.

And, I don't understand why.  Women tend to be the smarter of the two sexes.  Women tend to be more conservative with money.  Women will be more likely to want a more secured future.  All of these tend to point them to CRE.

BUT! owning a CRE property tends to be men.  And, unfortunately, it doesn't have to be that way."

And, now Sallie Krawcheck, CEO and co-founder of Ellevest, says, Women should be investing more.

(You may have to copy and paste in your browser)
http://www.cnbc.com/2016/09/26/the-single-biggest-mistake-ive-seen-women-make-at-work-sallie-krawcheck-commentary.html

I wonder just how many women would be brave enough to call me to see if there are any properties within their investment range to acquire here in Las Vegas, NV.

Hint: There was one small office building listed for $299,000.

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes

Trump's hateful rhetoric has caused an American client investor to stand down on investing!

Wow!

I couldn't believe what the investor was saying to me.  I did take a slight beating on LinkedIn with Trump supporters spewing condescending comments about the post I put up about foreign investors withholding investment in the US until after the US General Election.

However, this morning, when my telephone rang and I noticed it was from one of my American clients/investors -- who owns several neighborhood retail properties in Las Vegas, NV -- I was happy he was finally responding to the property information I had sent him last week.  I was hoping he was instructing me to draft an offer.

Unfortunately, his first words were like a needle popping a balloon: 'he is not going to buy or sell until after the election.'

His reason: Trump is being too hateful and alienating too many people.  He thinks that if Trump wins, it is going to send the markets into a spiral down fall.  He says he is hoping for the best.

Sigh!

So, to you LinkedIn members who think that we don't need foreign investors, guess what, the American investors -- from my point of view -- are wary of Trump, too!

So, I began to wonder: If the polls are showing a close presidential race, just who exactly is supporting Trump.  Well, CNN had an answer.

http://money.cnn.com/2016/09/23/news/economy/white-working-class-economy/index.html

The problem with this story is that non-college educated whites want something that is never ever going to come back ever again.

High paying jobs are now in the Asian rim.  A white male working at +/-$20 an hour is never going to happen in the US ever again.

And it wasn't the government that sent those jobs oversea.  So, stop blaming the government for you losing your job.  Because, it was your actions that resulted in you being unemployed. Yes. The non-college educated, white male who wouldn't work for less an hour.

The government didn't order your former company or its CEO to move your job.  The CEO found workers that would work for far much less than you.  And, that was in the Asian Rim.

So, supporting a hateful rhetoric spewing man -- who also has products manufactured in the Asian Rim -- is NOT going to be able to bring those jobs back.

Trump maybe a businessman; he maybe a billionaire (I'll believe that when I see his disclosed tax returns.); He may even be a nice guy (away from the cameras); but I know he is not going to be able to do any of the things he is promising you.

So, I realize there is only a choice between two evils: Crooked Donald or Crooked Hillary.

I am going to choose Hillary.

(And the reason is: no investor has said to me that they weren't going to invest (buy/sell) real estate in the US if Hillary is elected President.)

Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes