Mike Browning

Author: MB

  • Hard Now, Easy Later

    Hard Now, Easy Later

    Hard is slow, but slow leads to smooth. Smooth leads to fast, and fast leads to easy.

    Everyone broker wants a fast way to find sellers.

    But the fast way and the way that actually works are often two different things.

    I run two direct mail programs geared toward generating listings — one for lot owners, and one for landowners.

    The lot program’s pretty straightforward. Every lot is different, but they’re not that different. I just pick the subdivisions, remove the ones with houses, and I’ve got a list with everything I need.

    Raw land is a different story. Getting an accurate list takes real work.

    You can pull a quick data list of owners for an area, sure. But here’s the problem: the way land is handled on the tax rolls, one owner might have multiple tracts — some touching, some miles apart.

    So yeah, you can get a list to mail to. It’s fast, it’s cheap.

    But it’s also obvious you don’t really know what those owners have. And to them, it looks like every other “We buy land” letter out there.

    I tried it.

    Response was terrible.

    Those lists are fine for “Just Listed” or “Just Sold” postcards. But for an actual letter asking if they’d like to list? It just doesn’t work.

    I talk a lot about how local knowledge matters. If you’re not dealing with someone who really knows the ropes, you’re asking for trouble.

    So how do you canvas an area and sound like you actually know it?

    Simple — you make sure you do.

    For me, that means manually creating the list while I build a custom aerial and drive the area.

    That way I know exactly how many acres someone owns in a given spot. If they own more than one tract, I know that too. If they’ve got property under different company names, I can see it right away.

    When they call, I can pull up my aerial and know exactly what they’re talking about — and odds are I’ve been out there recently myself.

    Yes, it’s slow. But it’s the only way to really succeed in a relationship business.

    And there’s a compounding effect. Once the work’s done, it doesn’t change much. You benefit for a long time.

    And people notice when someone actually puts in the effort.

    A younger, more technical client once looked at my system and said, “You could do X, Y, and Z and get the same results way faster.”

    Maybe.


    But to me it’s not about speed — it’s about actually knowing the ownerships and boundaries. Without that, you’re just another database user playing a numbers game.

    Maybe I’m missing out on something big.

    But I think the results speak for themselves.

    Besides, that same client still uses my brokerage almost exclusively. So I must be doing something right.

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    Is it crazy to want to deal with someone who actually puts in the effort — instead of throwing around buzzwords to sound like it?

    You know it isn’t.

    I don’t deal in pressure, but is it ever a bad time to talk to an honest expert?

    Click below.

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  • Guaranteed Returns? Guaranteed Trouble.

    Guaranteed Returns? Guaranteed Trouble.

    Experts aren’t free — but getting scammed will cost you more.

    A few years ago, there were radio ads from an investment firm promising a guaranteed 9% return.

    That always struck me as suspicious. There’s no such thing as guaranteed investment returns. Anyone promising that is either dishonest or incompetent.

    And if you really could generate a 9% return with no risk, there wouldn’t be any need to advertise. Money managers would be running each other over to get clients into it.

    Turns out, I was right. A few years later, the guys behind the scheme were sentenced to decades in prison.

    And in the small-world department — the lead investigator who arrested them was also my daughter’s soccer coach.

    But here’s the thing: if you listen to the radio today, you’ll still hear similar promises. I won’t name names (no need to get a call from anyone’s lawyer), but the fact remains:

    There’s no free lunch. Investments carry risk.

    That’s true whether it’s financial instruments, real estate, stocks, or bonds.

    Those “opportunities” were sold through mass media — where they reach the most people, and often the ones least prepared to know what they’re getting.

    The sad part is, if the victims had talked to an honest professional, they probably would’ve been steered clear of the whole thing.

    We’ve all heard the saying: If something sounds too good to be true, it probably is.

    But here’s something else to remember:

    You always have to do your due diligence, but if the deal comes looking for you instead of the other way around, you have to be especially careful.

    So what does that have to do with real estate?

    You know I’m biased, but if it’s done properly, I think there’s much more opportunity in real estate investing than in retail stocks or mutual funds.

    If it’s done properly.

    If you’re not experienced, it’s easy to get in over your head.

    Like I said, I’m biased — but if you’re not using the services of an experienced and honest broker (hello), you’re setting yourself up for trouble.

    Is it free? No.

    Is it cheap? Not really.

    But it is a bargain.

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    If you’re looking to invest/buy or sell, is it crazy to want to have skilled people on your side?

    Didn’t think so.

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  • Two Papers In One

    Two Papers In One

    Who will you trust — a pro, or a greenhorn with no skin in the game?

    A few years ago I decided to stop watching the news. Turned out to be one of the smartest things I’ve done in a while.

    I’m less worried, my mind seems to work better, I get more done, etc.

    I highly recommend it.

    And don’t worry about being “uninformed.” The way we’re constantly bombarded by media, you can’t really avoid it altogether. I’ve found that if something is big and important enough to actually matter, it will find its way to you.

    So all you really miss is the noise. Give it a try for a month and see how you feel.

    It’s easy to go back to the old way if you don’t like it.

    One exception is that I still look at the Dallas Morning News website a few times a week. I enjoy their sports coverage and also want to see if anything’s happening locally I need to know about.

    But if I’m not careful, I start reading headlines and get pulled down the rabbit hole of thinking the paper is nowhere near what it once was in terms of being a balanced source.

    And then I spend time writing about it.

    More often than I probably should.

    It can be entertaining though. Pretty often you’ll see what I think of as the “two papers in one” effect.

    One day you’ll read about the “housing shortage” in DFW.

    The next, you’ll see headlines saying builders are slowing down because inventory’s piling up and nothing’s moving.

    So which is it?

    To be fair, it’s more complicated than that.

    DFW isn’t one market — it’s dozens of sub-markets layered on top of each other. Some areas are on fire. Others are cooling. And sometimes they trade places within a few months.

    In some areas, local regulations and land costs can make it nearly impossible to build housing at a price that fits the budget of a middle-class family. So there’s a “shortage.”

    In others, the relative affordability and better schools make it where houses almost can’t be built fast enough — at least until interest rates rise and put the brakes on it. So there’s a “slowdown.”

    In other words, market reality can be very different just a few miles away.

    That’s why broad headlines are almost useless when you’re trying to make a real decision. They can give you a general sense of the climate, but they can’t tell you what’s happening on your street, your corner, or your tract.

    If you own land, a lot, or a development site, your situation could be totally different than what the media portrays.

    That’s where talking with someone who works these deals every day actually helps — because “the market” isn’t one big story.

    It’s a bunch of small ones playing out at the same time. Written by increasingly young reporters who lack the context to really report on the market. Anyone old enough to have seen a Cowboys Super Bowl Championship can tell you today’s rates aren’t particularly high by historical standards. And that what passes for a slow market today would be a roaring success 15-20 years ago.

    We’ve been trained to view the newspaper as an authority, but it’s really there to get your attention, not provide expert analysis.

    Is it ever a bad time to talk to a real expert who shoots straight and knows the local dirt?

    You know what to do:

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  • You Don’t Need An Injunction To Pray At Home

    You Don’t Need An Injunction To Pray At Home

    Win the private battles, and the public ones will be easier.

    I’ve been thinking about how much energy we put into the public fights over faith—school prayer, the Ten Commandments on the wall, that sort of thing.

    They matter. But sometimes I wonder if we’ve got the order wrong.

    Jesus didn’t really talk about “fixing the system.”

    He talked about hearts. He told His followers to believe in Him, repent, forgive, pray, and trust God.

    And He warned against making a show of it.

    “Go into your room and close the door,” He said, “and pray to your Father in secret. And your Father who sees in secret will reward you.”

    That doesn’t mean there’s never a place to speak up publicly. But it does mean that the foundation is laid somewhere quieter.

    I’m the first person that needs to hear this.

    I pray most days, but we don’t always pray as a family before meals. We should, it’s not hard.

    We just don’t.

    No law is stopping us. No court ruling can make us start. It’s simply a matter of doing it.

    That’s what struck me about the recent headlines here in Texas. We’ve made it easier for students to pray in schools. We’ve passed laws requiring the Ten Commandments to be displayed.

    Those are good things in my opinion, but they don’t mean much if most of us aren’t doing the simplest things at home.

    I can’t help thinking that if more of us simply did those things—prayed at home, opened the Bible with our kids, treated the people in front of us with the grace Christ shows us—some of the bigger battles might take care of themselves.

    We probably wouldn’t be able to explain how it happened.

    And we wouldn’t get to take the credit.

    But I believe we’d see change.

    The good news is we don’t have to wait for permission to begin. We can start today, quietly.

    The cross and the empty tomb have already settled the ultimate question.

    What’s left is to choose our side and then be faithful with whatever God puts in front of us.

    That’s not flashy. But it’s the work that counts.

    And maybe it’s the work that moves the bigger things too.

    It’s important of course, but until we are doing the small things we can already do ourselves, maybe we should worry less about what everyone else can or can’t, will or won’t do.

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    One easy thing you can do is make sure you and your loved ones all have physical copies of the Bible.

    You can buy them here on Amazon.

    Disclosure: As an Amazon Associate I earn from qualifying purchases. That means if you buy something—anything—after clicking that link, I may receive a small commission. It doesn’t change your price.

  • Respond, Don’t React

    Respond, Don’t React

    Take a breath, and avoid sabotaging yourself.

    I once had a client who went under contract with a developer on what was clearly a longshot deal. The payout would’ve been huge — if it closed.

    Before signing, I told him several times: this is a 50/50 shot at best.

    Don’t start spending the money in your head. Don’t even plan on it closing. If it happens, great — but don’t count on it.

    At first, he took that to heart. But as the process dragged on, he started asking me if maybe it might even close early.

    I warned him again, but he couldn’t help it. He was already counting chickens.

    Then came the dreaded call from the buyer: “The city killed my deal.”

    My client was furious. And instead of just taking the loss in stride, he reacted. He got so angry that the buyer wanted nothing more to do with the property — or with us.

    He slammed the door on what could have been a future opportunity, all because his emotions got the better of him.

    Just another example of an important negotiating principle: the danger usually isn’t what the other party does. It’s how you react and whether you control yourself correctly.

    Real estate deals can be emotional — especially when the numbers are big or the stakes are personal.

    But reacting in the heat of the moment almost always makes things worse. Responding, on the other hand, keeps you in control.

    When someone doesn’t do what you think they should, remember: they’re probably doing exactly what they said they would. It’s in the contract.

    Option periods, title contingencies, financing clauses — all those timelines and outs are there for a reason. Buyers don’t sign contracts because they don’t want to buy. They sign them because they want the right to find out if they can.

    If they discover something that makes the deal fall apart, you’ve just learned something valuable about your property — at no cost to you.

    If they ask for more time or a price change, don’t take it personally. That’s not an insult. It’s a negotiation. You can say yes or no. Either way, you’re still in control.

    The moment you start taking things personally, you lose perspective — and sometimes, the deal.

    The best negotiators don’t stay calm because they’re detached. They stay calm because they know the rules of the game. They read the contract. They act in their own best interest, and they expect others to do the same.

    And when you understand that, it gets a whole lot easier to respond — not react.

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    ****PS – Learning to control yourself is one of the best ways to improve your negotiating outcomes. It’s not about intimidation or chicanery, it’s about following your system. Principles above tactics. The best negotiating book I know of is Jim Camp’s Start With No. I read it once a year, when you understand the system it feels like you’re playing another game entirely.

    Unless your counterpart is using the system too, in which case things get exponentially easier for your both.

    (If that wasn’t the case, would I be telling you about it?)

    Is there any part of your life that wouldn’t improve with better negotiating skills?

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    Disclosure: As an Amazon Associate I earn from qualifying purchases. If you buy something—anything—after clicking that link, I may receive a small commission. It doesn’t change your price.

  • In the Path of Growth? More Like Right in the Middle of It.

    In the Path of Growth? More Like Right in the Middle of It.

    You don’t have to go all the way to Oklahoma to find a good deal.

    Is it crazy to want to invest where growth is already in full swing?

    Check out this ± 25 acres at or near the intersection of Hubbard Road and the future Outer Loop (exact location TBD), with 425 feet of road frontage.

    Collin County – Josephine ETJ

    Utilities nearby

    Flat to rolling terrain, no flood

    This tract is shown on the land-use plan as future residential, but keep in mind: the Outer Loop corridor could change things. And this part of the county? It’s not “on the rise”—it’s already in motion.

    Obviously the city will have major input into the future use. But if this becomes a major corridor you don’t have to squint to see this would be a great spot for destination commercial, a car dealership, or multifamily.

    By the numbers:

    • 2028 population within 5 miles? Over 20,000
    • Average household income nearby? North of $117K
    • Location? On the radar and in the way of progress

    Whether you’re land-banking, building, or just smart enough to know where North Texas growth is headed, this one deserves a closer look.

    You can download the brochure at the link below (please note Loop location shown is not set in stone, it could shift several hundred feet to the west.

    Collin County +/-25 ac

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    ***All information provided is believed to be accurate but is not guaranteed. Buyers and lessees should conduct their own due diligence and verify all facts, measurements, zoning, and other details to their own satisfaction before making any purchase or lease decisions.***

    2023-08-14 CR 596 – Concept PlanDownload
  • It Works Both Ways

    It Works Both Ways

    Customers and clients have a say too.

    Yesterday I talked about the importance of avoiding problem customers:

    Life is too short to work with bad clients.

    But smart people know it works both ways. Good customers demand — and deserve — the best.

    If you’ve been reading here for a while, you know I refer often to personal and business development books. If you’ve paid attention, you’ve probably noticed they all focus on principles, not tactics.

    In other words, they aim to shape the kind of person you become. Someone people want to deal with for the long haul. Not someone relying on short-term tricks that may work once, but leave a bad taste.

    Think about buying a car.

    If you hesitate on the deal, the salesman often switches into closing mode. Suddenly the car’s “about to be sold.” Or the higher payment “pays for itself” in lower maintenance.

    It may get the sale. But it also makes you not want to come back.

    And the higher the level of the client, the worse those tactics work.

    A close that might move an average buyer just gets you laughed out of the room by sophisticated operators.

    Those clients know what they’re doing. Most of the time, better than you do. (And even if not, they think they know better.)

    If they seem unwilling to do something, there’s a reason — even if you don’t know what it is.

    Push them, and you won’t change their mind. You’ll just get crossed off their list.

    That’s not to say everyone needs to be handled the same way.

    If my client is someone who inherited a piece of land and doesn’t know much about it, as their broker I’m the expert. I don’t pressure them, but I might need to guide them a little more.

    But if I’m working with a publicly traded homebuilder or a regional developer who’s been through countless complex deals, I’m not the expert. I’m more like a vendor. My job is to make the process as smooth as possible — not to tell them how to run their business.

    It’s one thing to sell cars to the public. It’s another to sell trucks to a construction company.

    That buyer already knows exactly what they need.

    Most of my buyer clients are investors or developers. They know their business. They also know that finding the right deal can take time. I’ve often mentioned how slow that process can be on the front end.

    And just as often, during that slow part, the agent on the other side suggests I try to “apply a little pressure.” Or say something that’s not quite true to move things along.

    No thanks.

    Over time, I’ve realized there’s probably a reason I have the clients I do — and other agents have the ones they have.

    Good customers deserve good representation.

    That’s the standard I want to live up to.

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    Interested in getting on the right side of the Principles Vs. Concepts divide?

    Check out my reading list here.

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  • Life Is Too Short to Work With Bad Clients

    Life Is Too Short to Work With Bad Clients

    Not to mention, it’s just bad business.

    I’ve been working several months to help a client purchase a tract of land north of Dallas. The seller’s expectations have been a little too high, but it looks like we might finally be on the same page.

    The funny thing is, we haven’t been that far apart all this time. If they’d just agreed to what we proposed back in May and put the proceeds in the bank, they’d have already made enough in interest to be ahead of what they were holding out for.

    As a wise man once said, good enough today usually beats waiting for perfection later.

    But that’s not really what I want to talk about today. I want to talk about how life is too short for me — or you — to waste time working with problem clients.

    My client on this deal is one of the good ones. They’re responsive, they do what they say they’ll do, they handle things fairly, and they don’t waste people’s time. Most importantly, they treat me the way I like to be treated.

    When I was talking to the agent on the other side this week, he was complaining about how his client is hard to deal with. They keep shifting what they want (or will accept) and are tough to get a straight answer out of. Worse, any time an offer comes in, they want to negotiate his commission lower.

    He told me that after this deal he’s thinking about telling his clients he doesn’t want to represent them any more.

    I told him that while it makes sense to finish this deal and get paid, if he doesn’t kick these people to the curb at the first opportunity, he’s making a mistake. If he doesn’t, he’s signaling to everyone that he lacks the self-confidence needed to succeed in this business.

    There are far more clients needing help than any one of us has time to serve. If we spend our time on anything but the best we can find, we’re only hurting ourselves.

    Let the subpar operators work with the subpar clients and customers.

    To be my client, you have to meet the standard.

    From the client’s side, they’re being so shortsighted it’s going to be hard for them to succeed long-term as investors. The old maxim is that you make your money when you buy, not when you sell. To make the most money, you need to be shown the best deals.

    If I have a good deal, I have a list of potential clients it might fit. The best ones get to see it first. The guys who don’t want to pay full commissions? They may not see it at all.

    You probably have problem clients or customers in your business too. Do yourself a favor and fire them — or at least threaten to if they don’t shape up.

    It can be scary. But have faith: there are more clients out there than you have time to serve. Almost every time you let a bad one go, they’re replaced by a better one.

    Happens pretty much every time, assuming you’re operating correctly.

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    If you’ve been reading here awhile and haven’t felt the urge to run away, you’re probably the type who likes straight talk, quiet competence, and fair dealing (going both ways).

    You’re probably not ready to buy or sell today, but it never hurts to be ready. The best opportunities are short lived, and the faster you’re able to move when it’s time, the better.

    Aside from that, is there ever a bad time to begin a conversation with a like minded expert?

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  • Your Deal. Your Business.

    Your Deal. Your Business.

    Some people expect an explanation — but you don’t owe them one.

    Aside from the actual process of buying one, the worst part about purchasing a car may be hearing from everyone afterward that you paid too much. Or that you didn’t get enough for your trade.

    Or that you should have done it their way because you’d have gotten a better deal.

    It was for me, at least until I learned not to engage in that conversation in the first place. And if I can’t avoid it, I just ignore it.

    For one thing, I negotiate for a living. And given the size of my family, I’ve bought and sold way more cars than the average person. So while it’s possible that some random bystander could have squeezed out a significantly better deal, it’s highly unlikely.

    Mostly it’s just bluster. You know how people are.

    But more importantly, if I’m happy with the deal and decide to move forward, what difference does it make what someone else thinks?

    There’s no need to explain.

    It applies to real estate too. Just this week I got a call from someone an attorney friend had referred.

    Her neighbor had proposed swapping some land that would reduce her road frontage and increase her back-yard depth.

    On paper it sounded like a fair trade. But she worried the road frontage was worth more than what she’d get in return.

    I told her that, in a vacuum, road frontage is usually more valuable. But there are always other considerations. And in her case the difference might be negligible.

    Like my old professor said, the answer to almost any real-estate question is, “It depends.”

    She didn’t have a sketch or map to show me, so I couldn’t give a definitive opinion. But assuming she wasn’t making a clearly bad trade, I told her this:

    If you think your property is better off after the swap, do it. Don’t get paralyzed over a value difference that’s likely minimal.

    And if you don’t want to explain to neighbors why you didn’t demand money as part of the deal, don’t.

    It’s none of their business.

    In life and in business, you don’t owe most people an explanation.

    Your client, your wife, your boss—fine.

    But you don’t owe strangers a PowerPoint about your pricing, your timing, or your strategy.

    No matter what they say.

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    My experience is that whenever someone offers you facts you didn’t ask for, it’s pretty smart to ignore it as it’s usually wrong.

    Is it ever a bad time to get real world data and advice from an expert in the field?

    Just click below if not:

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  • Decide Slow. Act Fast.

    Decide Slow. Act Fast.

    Take your time deciding. But once you do, don’t mess around.

    Here’s an old riddle:

    Five frogs are sitting on a lily pad. One decides to jump off. How many are left?

    Most people say four. That’s good math, but the wrong answer.

    The answer is five.

    The one frog decided to jump off, but didn’t actually do it. He’s still sitting there, wondering why nothing’s changed. Why the thing he wants hasn’t happened yet.

    Presumably, he thought it through. He must’ve concluded that jumping off was the right move. But still, he just sat there.

    Why? Who knows. But he’s acting just like people do.

    They “decide” to do something, but not really. So they keep doing what they were already doing. And a year later, they look up and wonder why they’re still in the same place.

    Here’s what I’ve learned:

    There’s nothing wrong with being deliberate. I take all the time I need to think through decisions and look at the info.

    But once I decide, I stop thinking about it and just go.

    It’s not foolproof. But more often than not, it works out. And mentally, it’s cleaner.

    Now, I’m not saying you never change course. That would be stupid. But once you’ve decided to move, stop looking for reasons not to. Just start.

    If it’s wrong, reality will usually let you know fast. It’s good like that.

    So what does this have to do with real estate?

    Exactly what I said.

    If you’ve decided to sell or buy, get going right then. Move fast.

    Unless something obvious shows up that says otherwise, keep going.

    Do your homework. Ask questions. Take your time deciding.

    But once the decision’s made, move forward.

    You don’t have to decide today. But it never hurts to have the most current info on your side. That part’s easy.

    You know who to ask. If I’ve given you a valuation before and you want it updated, just ask.

    If you’ve never gotten one, hit the link below and get up to speed.

    Either way, don’t be the frog.

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