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Unlicensed Places of Business

By Christopher Moles | January 30th, 2012 1 Comment

A good real estate agent is always working. Sometimes it’s easier for an agent to have documents and correspondences sent directly to his home so he can avoid taking an unnecessary trip to the office or he can impress certain clients with a particular zip code. While not overtly improper, using a non-brokerage office address for business can have unanticipated consequences.

California Business and Professions Code Section 10163
An agent who uses his personal address in advertisements and material documents can be perceived by the Department of Real Estate as running an unlicensed place of business. Every real estate brokerage’s “place of business” must be independently revealed to and licensed by the DRE. California law delegates the DRE Commissioner full authority to determine whether an office is being used as a “place of business” for real estate brokerage purposes and every such place must have an on-sight broker representative to oversee and manage licensed activities.

Audits
The DRE may audit any individual salesperson and responsible broker suspected of operating an unlicensed place of business. Normally, the DRE comes across a business card, flier, or website which seems to direct clients and cooperating brokers to a physical address not belonging to the salesperson’s broker (usually it’s the salesperson’s home address or second job). From there, the DRE may conduct an audit or a less formal inquiry to determine the extent of business operations being conducted at the location.
If the Commissioner determines that an unlicensed office exists, the Commissioner may remedy the situation by requiring that the location become licensed (evoking tax and zoning dilemmas) or restricting/revoking the responsible party’s license.

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Of course, agents reveal their home addresses to clients and cooperating brokers for any number of reasons – most are completely proper. Audits normally result when a non-brokerage address is posted on an advertisement or a material document to the transaction.  As such, it’s advisable to have agents refrain from ever putting home addresses on their business cards, fliers, or any other medium used as the first point of contact with clients and the general public. More obviously, an agent should never post his personal address in lieu of his broker’s address on a listing agreement, agency disclosure, or purchase contract.

Cal Bus & Profs §10163 is reproduced as follows:

“If the applicant for a real estate broker’s license maintains more than one place of business within the State he shall apply for and procure an additional license for each branch office so maintained by him. Every such application shall state the name of the person and the location of the place or places of business for which such license is desired. The commissioner may determine whether or not a real estate broker is doing a real estate brokerage business at or from any particular location which requires him to have a branch office license.”

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Morning Mojo: Embrace the Pain

By Tom Tognoli | January 16th, 2012 0 Comments

Embrace the pain…it is where the growth and success are hiding.

It was the end of 2004 when she walked into my office with tears in her eyes. She had tracked me down for an interview. I had recruited her from a smaller firm where her business was not going all that well. When she joined our firm I gave her a list of what I call “success activities” and told her that if she put them in her schedule and did them every day sun or shine she would be one of the top agents in our company. She has 2 small children and a husband who works full time, but she had an amazing work ethic. She would literally get up at 4:30 or 5 every morning, come in to the office and work until 7am. Then she would go home, get her kids up and ready for school and then come back to the office and bust her butt all day doing the activities. At about 6pm she would leave to go pick up her kids from school, bring them home, have dinner and then go back to work until about 8pm to 9pm. And she did work a lot of weekends as well. She was a woman on a mission. But after probably 6 months and only 1 deal, she was on the verge of quitting and going to get a “real job.” She literally broke down in my office and told me she was not sure this job was for her. She even considered being someone’s administrative assistant. Well, after an hour or so of encouraging her and telling her not to quit, she walked out, got back on her horse and kept going. A year later she was one of the top producers in the office and today she is one of the top producers at Intero. Today she is a success,but if she had quit when the going got tough she would have failed.

If you lift weights or run or do almost any kind of training you know that nearly all of the benefit happens in the last 10% of the exercise…it is in the 12th rep of a 12 rep exercise…is the last 1/2 mile of a 7 mile run. Improvement happens when the pain is at its peak and we think we can’t take it anymore…that is how we get better. Up until that point everything is mostly just maintenance and only helps us keep what we’ve got. But if we can push through the pain even when we think we can’t take it any longer and do just a little bit more, that is where all the gain and opportunity lies. The same thing applies in business and life. So many times we see that super successful person and think they got all of the breaks…everything went their way. I can tell you that is almost never the case. There were set backs and fear and a lot of pain along the way in almost every success story. The difference between those who have massive success and the rest is not only their amazing work ethic, but their ability to push through the setbacks and pain, when most “normal” people quit. Like exercise and fitness, success at anything in life requires discipline, accountability, resiliency and doing “it” when everyone else is sleeping and/or calls it quits. It’s showing up an hour earlier and staying an hour later than everyone else. It is that last rep when lifting weights and your arms feel like they are about to explode. It is showing up and doing it again and again even when you feel like you can’t take it anymore. Push through the pain, don’t quit, and get the reward of Success.

So, who is this Success I am talking about you ask? It is Sophie Tsang in our Cupertino office.

No pain…no gain!

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Morning Mojo: Are you ready for some football

By Tom Tognoli | November 14th, 2011 0 Comments

At the beginning of the NFL football season every team has the same goal…win the Super Bowl. Leading up to the season there is countless hours, days, weeks, and months that go into planning, strategizing and putting together a winning formula. They don’t just show up on opening day and wing it. We all know what would happen if they did.

Life and sports have so much in common. When we start our year we really need to approach it just like a new season in football, with the goal of winning our Super Bowl. The definition of winning a Super Bowl may be different for everyone, but the steps it takes to give us the best chance at accomplishing our goals is the same. We need to plan, strategize and take the time to put together our winning formula before the new season starts…don’t just show up on opening day and wing it. If we do, we are going to get CRUSHED!!!!

In Business this means putting together a Business Plan…in Life it is putting together a Life Plan. It is about taking the time to put together a plan for all the areas of our F-5 (Faith, Family, Friends, Fitness, and Finance). So many of us wait until the New Year before we take time to even consider what we are going to do to Win. I am here to tell you if we wait until then, we are winging it and we are going to get CRUSHED.

One of the things we encourage everyone to do at Intero is to create their Business Plan in October…yes 3 months before the New Year. We know this will not only help them kick off the New Year on fire, but it will help them finish this year strong. For a copy of the Intero Business Plan click here. Even if you are not in real estate there may be some ideas you can take from it in creating your own plan.

Don’t wait until the end of the year and do what most other people do…don’t wing it. Don’t wait until the end of the game when you have to throw up the Hail Mary in desperation. If you wait until then it is pretty much hopeless.

As you put together your plan remember the following:

  • A play = your day
  • A touchdown drive = your week
  • A game = your month
  • A season = your year
  • A Super Bowl = your life

Take the time to visualize your Super Bowl Winning Strategy. Then put together your plan for winning the Season (F5 Plans). Then set goals and strategies for each month. Then take those goals and strategies and put them in your calendar. Then show up every day and execute on every play (what your schedule tells you to do) with all of your effort and focus. Do this and you stand the best chance at winning a Super Bowl.

Touchdown!!!!!!!!!!!!!!!

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Consigliere Files: HUD Offers REO Homes for $100 Down

By Christopher Moles | November 6th, 2011 0 Comments

The Department of Housing and Urban Development has created a strong incentive for buyers to purchase HUD-owned REOs. For a limited time, buyers in 27 select states and the US Caribbean will have the opportunity to purchase HUD REOs with only a $100 down payment.

The $100 Down Incentive

The program will allow any qualified buyer who will utilize financing insured by the Federal Housing Administration to purchase certain HUD REOs with only a $100 down. The buyer must be an owner-occupant and the sale must be for the full amount of HUDs approved listing price. The incentive will only be available for purchases within select US states and territories.

The States

Only HUD REOs within the following states and territories will be eligible for the $100 down incentive: Arkansas, Colorado, Iowa, Kansas, Louisiana, Missouri, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Texas, Wisconsin, Wyoming, Utah, Alabama, Florida, Georgia, Kentucky, Illinois, Indiana, Mississippi, North Carolina, South Carolina, Tennessee, the US Virgin Islands and Puerto Rico.

The Terms

HUD’s approved listing price will be set by HUD and it will be largely based on the value of the property’s most recent appraisal. Any bid over HUDs listing price will require the winning bidder to bring in the “overbid amount” as additional down payment. HUD will generally disallow the winning bidder from seeking a second appraisal to adjust the approved listing price.

The buyer must only use FHA financing and a buyer may switch from conventional financing to FHA financing in order to take advantage of the incentive.

Nonprofits, investors and fictional persons will not be eligible for the $100 down incentive. It is strictly reserved for residential owner-occupants. Also, any HUD REO that was listed prior to January 4, 2008 and any HUD REO that is presently advertised through the “HUD’s Good Neighbor Next Door” program is not eligible for the incentive.

203k Loans

Some buyers will be eligible to use an FHA 203k loan in this program. This means some buyers will be able to finance repairs and renovations to the property through their single purchase money loan – all for only $100 down. However, the properties eligible for both a regular FHA 203k loan and the $100 down incentive will normally have to be listed as “uninsurable.” Buyers of properties listed “insured” or “insured with escrow” may be able to use a “Streamlined 203(k) loan” to purchase with the $100 down incentive.

HUD will also continue to cover up to 3% of the closing costs in appropriate cases.

More information on the incentive can be found here.

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Thoughts on Leadership: Steve Jobs – A Legacy of Leadership

By Gino Blefari | October 13th, 2011 0 Comments

“You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.” – Steve Jobs, 1955-2011


Greek artist Charis Tsevis has created portraits of Jobs that are made entirely out of the products he invented.

Since Apple co-founder and CEO Steve Jobs passed away last week, I’ve been reflecting on the learning and inspiration that I draw from his career relative to Intero and the work I do as President and CEO.

Our Cupertino office is located amidst the Apple campus, down the street from the Apple headquarters building. In fact, the Intero Cupertino building was one of the first Apple headquarter buildings and still has an Apple stamp on the concrete step in our parking lot. Innovation is literally at our front door.

That is why a mission at Intero is to continually stay innovative (Value #9 – Innovation) in the marketplace. Standing still is the first step towards decline (the stationary position is always the beginning of the end). As Steve Jobs says, “Stay hungry and stay foolish.” He had always wished that for himself. In turn, his inspirational words are how we will stay ahead of the pack and be the leader in change.

Steve Jobs embodied principles that are essential to leadership:

  • Work and passion can go hand-in-hand.
  • Success can be a consequence of a life lived fully.
  • Who we are can shape our work roles, and not the other way around.
  • Being authentic can be rewarded, and enduring ridicule and failure without losing faith is ultimately worth it.
  • The true measure of success is how much meaning your work brings to yourself and others.

Steve Jobs explains at a commencement speech at Stanford University in 2005 (click here to read the full inspirational speech), “Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

Jobs was a unique genius who transformed the world because he believed he could. The reality is that even if you have never owned an Apple product and have never met Steve Jobs, he has affected your life.

Once you look at Steve this way you realize that not only were his products works of art, but his leadership was too. Like great leaders before him, his presence was a mirror in which we hoped to see our future.

As a CEO, Jobs led from passion for his business and his product, not from greed or ego. He came from a modest background, overcame adversity, took huge personal risks, and built a great company. He made a fortune, of course, but all the while he dressed in Levis and kept his personal life private. This is what I value most about Steve Jobs.

We all need to take guidance and inspiration from Jobs’ career to raise our games and do it right. We need more people who can lead as Steve Jobs did.

Let’s honor him by remembering the lessons he taught us. Take those and apply them to your life – personally and professionally. Play to win because playing not to lose is a poor strategy that generally backfires. Once you stop setting new goals to strive for, and instead just try to protect your lead, your strategy becomes too timid and leads to stagnation and decline.

You still have today. What will your legacy be?

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Wednesday Wellness: What Choice Will You Make to Push Obstacles Aside?

By Tammy Parkinson | September 21st, 2011 0 Comments

Last week I met with a friend who was going through some very difficult transitions, and largely frustrated by the choices in which he needed to make due to these transitions. He was digging in his heels, wanting the circumstances to change; yet knowing nothing was going to change.

Later, I was discussing this with my husband and he astutely reminded me that it is his choice to be upset, angry and frustrated.

At first, I wanted to defend my friend, but as I started thinking more about the situation, I realized my husband was right, it was my friend’s choice to be mad, or be accepting.

Now, I know (first hand) life feeds us lemons sometimes and we don’t ask for them (or we don’t think we do). For example, when I broke my leg last year and had surgery, did I want that to happen? Of COURSE NOT!! However, the outcome through my recovery has changed my life in ways I couldn’t imagine and in one aspect, today; I am a stronger, different person. (This we can save for another Wednesday Wellness topic another day!)

So, when I think of my friend, did he ask for his circumstances? Most likely not in the way he imagines, but he now has the choice of how to deal with the situation. He cannot change what is happening to him, but he can change his response and direction moving forward and dealing with the problem.

When I work with someone who has diabetes, high cholesterol, high blood pressure and/or obesity issues, I can ask “is this something that this person has asked for?” Most likely not; but what he or she will do with the hand he or she has right now, in this moment is their choice. They can be proactive and make choices to change “was” to “is” or they can direct their anger at all the situations in their lives which has brought them to this unhealthy state.

We’ve all heard this a dozen times, but truly, the choice is ours. We might not wish some of the circumstance of our life as our choice, but how we change the course of our situation is truly within our grasp.

So, as you read this, reflect on your life and what obstacles you have put in your own way, or what another has put in your way. What choice can you make to push these obstacles aside and move forward towards a healthier lifestyle, a happier lifestyle? What can you do to smile in spite of your troubles? What action can you take in order to make your life the one that you see you should be in? As cliché as it sounds, the choice is our own.

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Thoughts on Leadership: What’s the Most Critical Quality of Today’s Leader? Creativity

By Gino Blefari | September 8th, 2011 0 Comments

If you’ve ever thought that creativity wasn’t necessary in the realm of leadership, think again. Creativity is critical to leadership success. It is a lifeline that renews, restores and inspires. Creativity can be used to build teams, enrich people and solve problems.

In fact, corporations need creative leaders to thrive. They need visionaries who act less as commanders and more as coaches, less as managers and more as facilitators, and who foster self-respect instead of just demanding it from others.

Creativity is what enables successful leaders to meet new challenges, and to recognize and pursue new opportunities through bold innovations.

Creative leadership that drives innovation and growth in this economy requires eight key qualities of a leader:

  1. The leader must have a vision for the organization.
  2. The leader must have the passion to transform that vision into action.
  3. The leader must be able to travel into an unexplored path.
  4. The leader must know how to manage both success and failure.
  5. The leader must have the courage to make decisions.
  6. The leader should have nobility in management.
  7. Every action of the leader should be transparent.
  8. The leader must work with integrity and succeed with integrity.

Leaders drive change and lead people in the pursuit of a vision. This means that often times, you’ll face the challenge of venturing into the unknown and the unfamiliar. This requires adjustment and the ability to respond to unexpected situations.

You could argue that creativity is actually the most important quality a leader needs to succeed in business today – outweighing even integrity and global thinking. According to a study done in 2010, about 60% of CEOs polled cited creativity as the most important leadership quality, compared with 52% for integrity and 35% for global thinking. Creative leaders are also 81% more likely to rate innovation as a crucial capability.

Whether you view yourself as a creative person or not, it is a skill that can be learned.

Creativity and innovation are not mysterious forces over which leaders have no control. Progressive leadership can and does create a climate that encourages creativity and innovation.

If you want to become a more confident and successful leader and improve your leadership skills and results, including your creativity, now is the time to take advantage.

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The Present Never Ages

By Mike Bidwell | August 8th, 2011 0 Comments

Your soul and its nurturing and crafting are something that only you have control over. Even if your life of getting and spending may have been less than a success, you still have the power to shape your soul.

What is your soul? Well, you could say that it is sum total of your essence, what you have done in the world, what is special to you. When you die, the soul represents who you were up to the moment you passed away.

The age of integrity is primarily a stage of spiritual growth. Instead of focusing on the time running out, it should be a daily exercise to mark the moment. The present never ages, each moment is like a snowflake, unique, unrepeatable, and can be appreciated in its surprise.

“The one clear sense you do have is that you must stop postponing. You should live in the moment as much as you possibly can” – Aaron Coleman Webb.

If every day is an awakening, you will never grow old – you will just keep growing.

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Monday Mojo: The 90/10 Principle

By Tom Tognoli | August 1st, 2011 0 Comments

Mon. August 1st, 2011 | 4:30am | Tom Tognoli

One of the best things about being the author of Monday Morning MOJO is all the cool stuff people send me in return on success. I definitely receive much more than I give. Funny how that works with most things in life isn’t it? When you try to help others, the universe gives it back to you exponentially. That is why I always tell people to get more of what you want in life help others get what they want. Because when you help others get what they want is when the magic happens.

This is probably not new information to you but the question is, “Do we practice it?” We should!

Recognized as one of “TIME Magazine’s” 25 most influential Americans, Dr. Stephen R. Covey has dedicated his life to demonstrating how every person can truly control their destiny with profound, yet straightforward guidance. As an internationally respected leadership authority, family expert, teacher, organizational consultant, and author, his advice has given insight to millions.

The 90/10 Principle by Covey teaches that only 10% of the things that happen in our lives are out of our control, the rest, is in our control. We can choose how to respond or react.

This is great if we could all keep in mind when the 10% happens in our lives.

Click the video below to check out what Dr. Stephen R. Covey has to share about applying The 90/10 principle in our daily lives.

Have a great day…unless you’ve made other plans!

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Ten Top Tips for Writing Good Copy

By Mike Bidwell | July 27th, 2011 0 Comments

We are all writing more copy than ever before whether that be blogging, posting, tweeting or emailing. It has never been more important, therefore, to stop and think about the quality of what we are saying.

I did and found these ten great tips, many of which were a lesson to me. No matter how good you think that you might be, I would suggest that there is at least one tip below which will help improve your writing – even if you already knew it but had forgotten.

1. Start with your idea. Think of the YOU not the ‘me’ and write as you would converse.

2. Think like a journalist. Use Why, When, Where, What, Who and How.

3. Use a plain writing style. Keep it simple. List major points. Express NOT impress.

4. Keep it short. Long doesn’t work. Short paragraphs, short sentences and even bullet points.

5. Give your readers direction. Write logically. Use mini-headlines and sub-headings.

6. Use an active voice. The subject performs something and the object receives it.

7. Avoid jargon and double speak.

8. Use the right words. Avoid ‘nice’ and ‘interesting’ and ‘very’ or ‘really’.  These are unspecific.

9.  Read your writing out loud. Focus on the ‘cans’ NOT the ‘cannots’.

10. When the words don’t come, visualize what you are going to write and write without limits. Let the ideas flow without inhibition. You can always abbreviate afterwards.

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