Mike Browning

Tag: Cooke County Land Sales

  • Does it Make Sense to Wait Forever?

    Does it Make Sense to Wait Forever?

    If lower rates come, you’re not missing the upside

    One of my long-time clients has spent years buying, selling, and developing small retail centers. You’ve seen the type—five or six tenants in a strip center, maybe a Domino’s, a nail salon, a tax office.

    I’ve sold him several sites for these projects, plus at least one that was already developed. From my side, the developed project was better—since my commission is a percentage of the sales price. So I always made sure to send him anything that looked promising.

    On one of the first deals I showed him, the rental income looked strong. Even better, every lease had automatic renewals with scheduled rent increases. I told him it looked good now, and even better in the future.

    That’s when he gave me advice that was so obvious, I didn’t see it until he said it:

    Those future numbers in the lease? They aren’t guaranteed. They’re the ceiling, not the floor.

    If a tenant isn’t doing well, when renewal comes around, they’ll ask for a cut. If things are going great, they’ll still ask for a cut. Your choices: reduce the rent or watch them leave. And then your “future income” goes to zero.

    That lesson carries over to where we are in land sales today.

    (Cue the standard disclaimer: I’m not a CPA or an attorney, I’m a real estate broker. None of this is financial or legal advice—it’s for informational and illustrative purposes only. If you have questions in those areas, talk to the right professional.)

    (Got it? Ok.)

    A lot of buyers are sitting on the sidelines, waiting for interest rates to drop further. Yes, there’s been some movement lately, but not as much as people hoped. More cuts may come later—or not.

    Here’s the key: real estate loans can usually be refinanced without penalty. Your interest rate won’t go higher than whatever your loan agreement says. But if rates go lower, you can refinance and take advantage of it.

    In other words, locking something in now gives you the upper limit on your loan cost. If rates fall, you can adjust later. If they don’t, at least you own the property and beat the folks still waiting.

    Is there risk? Of course. But sitting still has its own risks too.

    Is it ever a bad time to look at something from all the angles?

    When you’re ready, click below

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  • Just Do What God Puts In Front of You

    Just Do What God Puts In Front of You

    You don’t need to save mankind — that’s already been done.

    Naaman was a Syrian general who had leprosy. He went to Elisha’s house expecting a grand miracle, but Elisha didn’t even come outside. He just sent a messenger telling Naaman to wash seven times in the Jordan River.

    Naaman was insulted. The Jordan was muddy, and he thought the command was beneath him. But his servants reasoned with him: “If the prophet had asked you to do something hard, you would have done it. Why not this simple thing?”

    Naaman humbled himself, did as he was told, and was healed.

    His pride almost kept him from it.

    There’s a bit of Naaman in all of us.

    We want to do good, solve problems, make an impact. But instead of doing the small things God puts in our path, we chase something big — something that might get us recognition.

    See a hungry family on the street? You could hand them a meal.

    Or you could decide to start a food pantry.

    One looks “bigger,” but which one do you think God cares about in that moment?

    We can’t see the whole picture or connect all of God’s dots. The one simple thing we dismiss may matter more than the results of our big plans.

    A kind word, given at just the right time, might keep someone from a disastrous choice. You may never know all the future effects as they extend past your life here.

    But we don’t need to see the future to do the right thing now.

    The short-term results might not look like much, and if something happens far in the future it won’t be tied back to what you did today.

    So nobody celebrates.

    Maybe that’s the real problem — we want the pat on the back more than we want to obey God.

    But God celebrates when we obey.

    Remember the widow who put two pennies in the Temple box?

    Jesus said she gave more than all the people giving large amounts for show.

    The big job — saving the world — is finished. What God asks is smaller: just do what He puts in front of you. If we all did that, the world would look very different.

    Naaman found healing in obedience. We might also.

    PS – Last week I talked about how it might be a good idea to get a physical copy (or copies) of the Bible if you don’t already have one. Reading electronically is great, but there’s no guarantee it will always be available. It can be turned off with the flick of a switch.

    Is it likely? Who knows. Is it possible? Certainly.

    Is there any downside to having a hard copy of the most important book ever written?

    You can buy one 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.

  • Why Do They Do It That Way?

    Why Do They Do It That Way?

    Decisions show what business someone is really in, even if they don’t realize it themselves

    Yesterday I was talking about how newspapers like the Dallas Morning News aren’t really in the news business.

    They’re in the click/engagement business. The news content is just bait to draw you in.

    Clickbait, in other words.

    Truth is, papers were never really in the news business. Before the internet, they were in the business of selling obituaries and advertising. That revenue dwarfed what they got from subscriptions or single-copy sales.

    Instead of calling it clickbait (since the term hadn’t been invented), you might have called it a loss leader back then.

    Although don’t tell that to the journalists who were saving the world.

    (Fine job they did too.)

    Their main product has always been the audience whose attention they could sell. It’s just become a non-viable business in the internet age.

    But what about a successful business like the NFL? What business are they in?

    Staging football games, sure. They sell lots of tickets — about $4.1 billion worth in 2024.

    But that’s not their main product. Broadcasters pay about $12 billion (three times ticket sales) each year for the right to show the games.

    So their real product is the audience. Same as newspapers, just a better model. And rest assured the NFL knows what business it’s in, even if the news business doesn’t.

    And you can always tell what business someone is in by the decisions they make.

    Papers sacrifice accuracy and clarity in search of clicks.

    The NFL changes its on-field product to suit TV — kickoff times, short weeks, odd schedules. That’s not always fair to the players or ticket buyers, but the people at home love it.

    In brokerage you see the same thing. Some people say they’re in the “you” business, but their decisions show they’re in the “them” business.

    That works short term, but not long term.

    The only way to succeed long term in brokerage is to be in the trust business.

    (Hello.)

    Yeah I talk a big game. How do you know I mean it? Only one way to find out.

    Is there ever a bad time to try a better way? (You can always go back to the old way.)

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  • Watch Their Hands, Not Their Lips

    Watch Their Hands, Not Their Lips

    When speaking publicly, people will usually tell you what (they think) you want to hear

    When someone publicly says it’s not about the money, what’s the safest bet?

    It’s about the money.

    That’s not cynicism, that’s just pattern recognition. Public statements are usually crafted for effect. They’re meant to play well with fans, reporters, or shareholders.

    Which means they’re often more about signaling virtue than revealing truth.

    Take the recent Micah Parsons contract saga. More than once, he said it wasn’t really about getting the most money. He tried to keep the focus on fairness, team, legacy. All fine words.

    But the outcome? He landed the highest average salary in NFL history for a non-quarterback.

    Record deal. Short enough term that, if he stays healthy, he could cash another monster contract in a few years.

    So yes, it was at least a little about the money.

    And good for him—he’s got a limited window to earn, and he’s maximizing it. That’s smart.

    The same thing shows up outside of sports.

    The Dallas Morning News insists it’s in the journalism business. On the surface, sure. But scratch it and you see a company really in the advertising and engagement business.

    And lately? It’s been in the business of selling itself.

    Shares were trading in the $4s. Hearst swooped in with a $16.50 offer—quadruple the price. Then another buyer stepped up with $20. Even better, right? Except the board recommended sticking with Hearst’s lower number.

    Don’t know why, could be good business reasons for that, I don’t have time to look.

    Cue the noble public statement from Robert Decherd:

    “I have long since ceased to view my holdings…as a financial asset. My sole objective is sustaining the journalistic quality and civic responsibility of the News.”

    Sounds lofty. But it also raises the obvious question: if it’s not about the money, why sell at all?

    Because it’s not really about journalism.

    That doesn’t make them villains. It just means you have to be clear-eyed about what game people are actually playing.

    I’ve said before, I’m not really in the brokerage business. I’m in the trust business. The difference is, I know what business I’m in. And maybe it’s self serving to play that up, but I think it’s important to know.

    Is it crazy to align with people who know who they are and where they are going?

    Got a lot you might want to sell?
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  • If You’re Not In The Trust Business, You Won’t Be In Business For Long

    If You’re Not In The Trust Business, You Won’t Be In Business For Long

    Grammar slips and typos aren’t the end of the world, if people trust you

    Awhile back I saw a Dallas Morning News headline on the so-called bathroom bill.

    Technically correct, but framed so narrowly it made the issue sound like it only applied to a sliver of people. In reality, it applies to everyone.

    Why write it that way? I can’t say for sure.

    My guess: to agitate certain readers and boost clicks.

    That’s the business they’re in.

    Not the news business so much as the engagement business.

    I even messaged the public editor about it. Pointed out the headline was misleading. His reply? Evasive. Acted like he didn’t understand my question. I explained again. Still nothing.

    Maybe he was right that I wasn’t clear. I mean, I don’t write for my business every day.

    (wait, yes I do).

    Fast-forward to this week. Same public editor writes a whole piece about… typos in headlines. “Went” instead of “gone.” “Polices” instead of “policies.” Important, sure — but is that really worth a full column and public apology?

    It reminded me of Jesus taking the Pharisees to task for tithing on their mint and cumin while neglecting the weightier matters. Grammar matters, but it’s not the real issue.

    Then came the real eye-opener: a line about improvements. Now, 98% of stories are reviewed by an editor before posting. Good, right? Except the number used to be… 28%.

    Come again? A major metro paper, calling itself the “paper of record,” admitting it didn’t bother to review over two-thirds of its stories just 6-7 months ago.

    And we’re supposed to see that as progress.

    Their explanation was cost. I’m sure it was.

    But if you’re really in the news business, accuracy isn’t optional.

    And if you’re really in the trust business, you don’t brag about fixing a gap that should never have existed.

    That got me thinking about my own work.

    Most folks would say I’m in the brokerage business.

    And that’s true. But more than that, I’m in the trust business.

    You can get news anywhere. You can get a broker anywhere. Both are commodities.

    The only reason someone picks me is because they believe I’ll shoot straight and protect their interests.

    That’s what I actually sell. Trust.

    And if that sounds crazy in today’s world — maybe it shouldn’t.

    Got a lot you might want to sell?
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  • If Rates Drop, Lots Could Pop

    If Rates Drop, Lots Could Pop

    Just because you don’t control rates doesn’t mean don’t prepare

    A little after lunch Wednesday (about 1:00 p.m. Central), the Fed will announce what they’re doing with rates.

    Most folks expect a cut. We’ll see.

    Most of us aren’t economists, even if we like to think we understand what’s “best” for everyone. Funny how what’s “best for everyone” often looks a lot like what happens to be best for us at the moment.

    If you follow real estate at all (and you’re here, so I bet you do), you know a lot of people have been hoping for a rate cut. Buyers want lower payments so high prices feel tolerable. Sellers are hoping those “cheapskate buyers” finally quit asking for discounts and pay the number.

    I’m not big on discounts myself. Depends which side of the table I’m on tho (I guess).

    Big picture, none of this is in our control. Spending hours tracking every political angle, conspiracy theory, and tea-leaf reading is a waste.

    You have a life to live. Execute to the best of your ability, regardless.

    Also worth remembering: today’s rates are pretty normal in historical terms. Maybe even a bit low. It just doesn’t feel that way to folks who came of age after 9/11 and only saw ultra-low money.

    (yes I’m old).

    So how do you handle Fed Day?

    First, don’t obsess. Operate the same either way. If they don’t cut, carry on. We’ll be in more of the same, and the playbook doesn’t change.

    If they do cut, don’t be surprised if some people move quickly—especially in the custom home lot segment. Single lots can go from “thinking about it” to “go” much faster than a subdivision or a big rural tract.

    Development land and rural acreage usually lag a little. Not always. But usually.

    If you’re buying, assume you’re not the only game in town. The best lots go first. If a lot looks like a good deal to you, it probably looks like a good deal to someone else. Be first. Have your financing lined up, your questions ready, and your offer clean.

    If you’re selling a lot and sat on the sidelines during the slowdown, this could be your window. Get pricing dialed. Have the paperwork ready so a real buyer can say “yes” on the spot. Any pop could be short-lived—prepared sellers win the moment.

    None of this is pressure to take less than you want. It’s a reminder to act when the window opens.

    You can’t control the Fed. You can control whether you’re ready.

    You know what to do.

    Got a lot you might want to sell?
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    Own land instead?
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  • You never know ‘til you know — and sometimes not even then

    You never know ‘til you know — and sometimes not even then

    That line on the map just won’t sit still

    Back in June I wrote about how new roads distort the land market. Once a major road is under discussion, landowners nearby often decide their property should be priced as if the road is already built. And once a route is published, it can get worse.

    Never mind that it isn’t there yet.

    Or that the “route” is just a line on a map, not an actual plan.

    Or that construction might be decades away.

    It takes years for these things to get decided, funded, and built. And any time along the way, the path can shift. Until the asphalt is down, nobody knows for sure where it will go.

    And you never know, til you know.

    If it sounds like I’m speaking from experience, I am. Not just from the past, but from Monday morning.

    A client of mine bought a small tract near the published route of the Collin County Outer Loop a couple of years back. After the maps came out, development sprang up right where that line had been drawn.

    So we expected an adjustment.

    The logical spot was right next to his property, along a transmission line. The gap between the line and the neighborhood was almost the exact width of the needed right-of-way. It looked planned that way.

    When the new maps came out? Bingo. Four options, all right by my client’s tract. Suddenly, what had been a nice property in a fast-growing area was also a potential freeway corner.

    But not so fast.

    Whenever routes are announced, there’s a comment and review period. Usually it’s a formality — they collect feedback and do what they intended anyway. But this time was different.

    The new preferred route released Monday was shifted to avoid a neighborhood. Not sure who lives there, but somebody had some pull.

    For my client, that meant the road ended up on the opposite side of the property. Disappointing, sure.

    But he hadn’t bought it at a “future freeway corner” price. It was a good deal then, and it still is now.

    And remember, this new route isn’t final either. There’s another round of comments and more chances for change.

    And guess who will be one of the commenters?

    Like I said — you never really know.

    But uncertainty doesn’t mean you can avoid making decisions.

    Got a lot you might want to sell?
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  • Only the Wrong People Say No

    Only the Wrong People Say No

    You can’t reject someone who doesn’t need you.

    Most people hate rejection. It feels personal. Like somebody slammed a door in your face.

    That’s because most people approach rejection with neediness. They think they have to win over this client, or get that deal, or land that one opportunity. When you need a specific outcome, rejection feels like failure.

    But that’s the wrong lens.

    Rejection is a filter. It’s not an insult or a loss — it’s information. It tells you who’s not a fit so you don’t waste more time.

    An example from just last week. Through my direct mail program, I’d been working with a lady who owned a lot she wanted to sell. We had been in contact for quite awhile — years, actually. The first time she thought she might be ready, she ended up needing to wait. She circled back a few months ago, got tied up again, and was finally ready to move forward.

    I sent her all the documents to review, which is when it went sideways. The documents were too long (same ones everyone uses), costs were too high, price needed to be higher, and so on. Then she texted and said she wasn’t going forward. Maybe it was an attempt to get me to reduce my fee — I don’t know. But my response was simple: “OK! Good luck!”

    She may think she rejected me, but she really just filtered herself out. Truth is, I had basically decided to get away from it anyway before she pulled the plug. My time is valuable, and I only want to work with the best clients — not flakes. So I didn’t lose anything.

    To be my client, you’ve gotta meet the standard. She didn’t.

    Jim Camp, in Start With No, calls neediness the killer. And he’s right. If you walk into a negotiation thinking “I have to get this person to say yes,” you’ve already surrendered your leverage. Because the other side can smell neediness. They know you’ll bend to keep the deal alive.

    The truth is I need clients and transactions, sure. That’s the business.

    But I don’t need any one particular client or transaction.

    If you say no, you haven’t rejected me — you’ve just put yourself on the “not a fit” side of the filter.

    And that’s a good thing. Every time the wrong person filters out, I have more space for the right person.

    Think about it in everyday terms. When you shop for a truck, you don’t test drive one, decide it doesn’t suit you, and call it a personal failure. You just learned that wasn’t the one. Same with hiring an employee. Or a real estate broker. The whole point is to sort out what doesn’t work so you can find what does.

    And when you do find the right truck (or whatever else), you don’t get needy then either. It’s fine to want it, but you don’t need it. There are other trucks. Odds are you’ll find one you like just as much — if not better — pretty quick.

    That’s what rejection does. It’s not failure. It’s the process working.

    So when someone says no to me, I don’t take it personally.

    I don’t need them. I need the right people.

    And if I’m willing to let the wrong ones pass by, I’ll find the right ones a whole lot faster.

    That’s the filter. And once you see rejection that way, it stops having power over you.

    Maybe you understand why I don’t deal in pressure now. If I’ve done it right and it’s a fit, you’ll come find me when it’s time.

    But how do you know it’s time if you don’t reach out and let me give you current market info?

    Is there ever a bad time to know where things stand regarding your property’s value?

    When you’re ready, click below.

    PS- I read Start With No at least once a year, it’s that good. Once you realize negotiation is a part of almost everything in life, you know that if you improve that skill you improve everything.

    You can get it on Amazon here

    (Yes, I’ll get a small commission if you use that link, but it doesn’t change your price.)

    Got a lot you might want to sell?
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  • Temporary Pain, Permanent Gain

    Temporary Pain, Permanent Gain

    We know where this is headed, even if we don’t see how today.

    Romans 8:18 says:
    “The sufferings of this present time are not worth comparing with the glory that is to be revealed to us.”

    God knows what He’s doing. Always has.

    That doesn’t mean it’s clear to us. Usually the opposite.

    Children get fatal diseases for no reason we can see.

    Men get gunned down for debating (and winning) arguments on issues that not long ago weren’t even up for debate.

    And after it happens, people publicly celebrate their death online — even hope for more.

    Nobody can give a good reason. The only silver lining is it shows you who to avoid without having to confront them.

    But here’s what I rest on: God is working. He’ll finish His plan even if we don’t understand it. And the end will be glorious.

    A less extreme example:

    When I was in middle school athletics, we had to run laps around the campus. Most guys took a shortcut — jumped the fence as soon as they were out of sight. I was too scared to.

    One day, our meanest coach hid between two cars and caught them.

    As I finished, I saw all the “fast” guys standing to the side. The coach asked if I jumped the fence. I said no.

    “Take another one,” he barked.

    I protested. “But I didn’t jump the fence!”

    “Take another one!” Louder this time.

    So I ran again, muttering under my breath, frustrated and discouraged.

    Until I realized those guys who cheated weren’t resting. They were doing bear crawls in the parking lot until they threw up.

    Turns out the coach knew exactly what he was doing. I just didn’t see the plan. I got worked up and worried for nothing.

    Same with life. We don’t see the whole picture today. But we do know how it ends. And it’s so good we can’t even comprehend it.

    Kind of like trying to explain the internet to an ant.

    God’s already worked it out. The game is won. The only question is whose side you’re on.

    No matter what evil happens, victory isn’t “if” — it’s “when.”

    Does that make today’s pain easy? No.

    But it does make it bearable knowing it’s temporary.

    Whatever you’re carrying, it won’t last forever. What’s waiting on the other side makes today’s trouble look small.

    Will there be suffering? Yes.

    Will it be bad? Possibly. Probably.

    Should you worry? No.

    Everything will be set right. And when we see, then we will understand.

    Not to be a downer after all that, but consider this.

    Many (if not most) people who actually read the Bible now do so electronically. Nothing wrong with that.

    But what if that were taken away? Access to those things could be cut off at the source. At any time.

    Sounds far-fetched, I know. But there are lots of places in the world where you can be punished for reading the Bible today. It’s not impossible.

    Charlie Kirk was killed for saying things that not long ago wouldn’t even be objectionable. He would have been seen as a kook for thinking it even needed to be said.

    It changes fast.

    Just saying, if you don’t already have one, it might be a good idea to get a hard copy of the Bible. Or more than one so you can share.

    I’m not going to go down the rabbit hole of telling you which translation is best or any of that. Just make sure you have one.

    Then make sure you read it.

    You can buy one here on Amazon

    (Yes, I’ll get a small commission if you use that link, but it doesn’t change your price.)

  • It Doesn’t Have to Be Overwhelming (Start Early)

    It Doesn’t Have to Be Overwhelming (Start Early)

    Plus- how to avoid getting guilted into letting your ditzy cousin list your property.

    When you try to do something big—invest for retirement, lose weight, or improve yourself—it’s easy to get overwhelmed.

    Walk into a bookstore and you’ll see an entire aisle of books on each subject. All promising the secret.

    All basically saying the same thing.

    Nobody tells you that part.

    Then you see the ads. On TV, radio, social media. Promising the moon, rarely delivering.

    After a while it’s easier to tune it out and go back to your old routine. Which is why most people end up with the same middling results year after year.

    Just go back to the old way. At least your head stops spinning.

    You can run into the same thing when you start thinking about selling land.

    Everywhere you look there will be agents pitching the same line: “Hire me! I’ll get you the mostest the fastest!” They all sound alike.

    But most don’t know land well enough to back it up. They know houses. Houses are different. And if they don’t know what they don’t know, it can cost you time, money, or worse.

    And then there’s cousin Karen. Everybody has one.

    She doesn’t do much business, but she’s family. She’ll expect the listing.

    And your land sale might bring more in commission than she made all last year. That kind of pressure makes it even harder to say no—especially since most agents are masters at using pressure to serve their interests, not yours.

    So what do you do?

    First, start early. By looking at things months (or years) before you’re ready to do something, you can go slow and prevent that overwhelmed feeling.

    Next?

    (guess who I’m about to recommend…)

    I’ve been focused on lots and land for over 25 years. Not houses. I stay away from those because I don’t know what I don’t know. And I don’t want to put people in a bind by screwing up.

    The house agents don’t return the favor, though. They’ll tell you they can handle land. They can’t—not properly. So you have to be careful.

    Want proof I’m real? Take a look at some of my recent sales.

    If you want someone who shoots straight, takes no for an answer, and actually understands land, that’s me.

    As for cousin Karen, here’s your out: after you get your free value report, send her a link to my blog.

    Tell her you think I’m sharp and you enjoy reading my stuff. She might even learn something.

    More importantly, she’ll start to realize you’ve already got a real land broker in your corner. And when you’re ready to jump, she won’t even expect the listing anymore.

    You can always go back to the old way.

    Got a lot you might want to sell?
    Get a FREE, no obligation report on what it could sell for today.
    Get Your Lot Valuation

    Own land instead?
    Get a report for that here:
    Get Your Land Value

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