Mike Browning

Tag: land sales

  • You Have To Check For Yourself

    You Have To Check For Yourself

    For more than one reason.

    Whenever I list a property, I try to do all the due diligence I know a buyer will do ahead of time. Within reason anyway.

    I’m not going to spend thousands of dollars on engineers, environmental work and that sort of thing. But I am going to do all the preliminary stuff, get the contacts a buyer will need all in one place, etc.

    That way whenever a potential buyer comes along, he has a head start on determining whether the tract has merit.

    But if a contract gets done, I know he is going to redo everything I did for him. And I don’t take it personally. It’s only good business on his part.

    If he’s been in the business long enough, he knows there are brokers out there who won’t talk about some issues in hopes that they won’t kill a deal.

    Which is a shortsighted way to do business, because the buyer is going to find out. And once he does, there’s an issue going forward.

    But even if you’re dealing with someone you trust, you have to check everything out yourself.

    Because sometimes a broker is just mistaken. Happened to me this week.

    I called on a property flagged by the screen for the Buyer’s Short List and asked some preliminary questions about water and that sort of thing. She told me the property didn’t have water or electricity.

    Which isn’t ideal, of course, but it still looked like something worth checking into to me. Maybe water is nearby and can be extended cheaply or something like that.

    So we checked with the water company directly. Turns out there is water. The main reason it probably wasn’t selling wasn’t even accurate.

    As always, there’s still more stuff to check out. But it’s looking good.

    Score one for the Short List, and diligent research.

    If you’re an investor, you know that almost everything you see isn’t a deal, at least at the asking price.

    I’ve developed a system that scans 21 North Texas counties, identifying properties that appear to be priced cheaply relative to their area.

    There’s usually a reason that’s easy to find. Floodplain. Lack of frontage. Easements. Utilities. Something else that makes the price make sense.

    But sometimes one clears that first bar. That’s when you can hear about it just by being on the Short List.

    It doesn’t mean I’ve proven it’s a deal. There’s still work to do, just like I talked about above.

    It means I’ve looked for the obvious reason it isn’t one and haven’t found it yet.

    But is it a bad idea to have someone filtering out the junk for you?

    Check it out here.

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  • The Three People You Need

    The Three People You Need

    Finding the customer is only one of them.

    I was listening to something the other day that stuck with me, although I can’t remember who said it. To have a successful business, you only need three people:

    One to find the customers, one to take care of the customers, and one to keep the first two guys out of jail.

    Kind of said in jest, but pretty accurate if you think about it. It doesn’t actually have to be three different people, but there are three main functions. Sort of a three-legged stool.

    Sales/Marketing (find the customers), Management/Execution (take care of the customers), and Compliance (stay out of jail or court).

    They don’t have to be different people, and some of those jobs can be handled by outside professionals. But if you’re dealing with a company that overemphasizes one or ignores another, you’re asking for trouble.

    As a broker, I work on commission. Finding clients is the first step to that, but if I just tell people what I think they want to hear to get them in the door, I’ve got problems.

    If I tell you your property is worth $2M when it’s probably worth $700K just to get you to sign a listing, at the very least I’m going to have a hard time executing.

    And I’ve started the relationship by telling you something I didn’t believe myself.

    But people do similar things every day. It matters who you do business with.

    I can tell you how I try to operate, but you’re probably better off hearing it from people who’ve actually done business with me.

    “I’ve worked with Mike for over 20 years on land and lot deals. He’s a stand-up, trustworthy guy who is very knowledgeable about his market. He has strong relationships with landowners and a deep network in land development.

    He’s always willing to help with anything we need during due diligence, and he does a great job working with sellers, building relationships, and helping them understand what to expect throughout the process.”

    — Jack L., EVP Acquisitions, national homebuilder (publicly traded)

    “Mike Browning is a credit to the North Texas commercial real estate industry. His market knowledge, diligence, competency and attention to detail have been an asset to our family office for over two decades.

    We had owned the property for more than ten years and decided to sell after closing a partnership. Our main concern was maximizing market value. The transaction was handled with good stewardship from LOI through contract, due diligence and closing.

    If you are serious about selling, let Mike handle it.”

    — Amin B., Repeat Land Client (20+ years)

    Of course, none of that means you need a broker today.

    Even if you’re not considering selling, things change. Sometimes quickly.

    It’s better to have information and not need it rather than scrambling at the last minute. The MBR Land Reality Check gives you a clear-headed look at what’s happening around your property and what it might sell for today.

    No pressure to list, no obligation, and it’s free.

    Is it a bad idea to know where you stand?

    Check it out here.

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  • The Gap Between Stories

    The Gap Between Stories

    You’re almost never 100% right. Or wrong.

    Most people in a conflict become very, very good at one thing.

    Their version.

    I’ve watched it happen enough times to recognize the pattern early. Someone gets into a dispute, and immediately everyone assembles their case. The evidence. The timeline. Getting to others first, so they can get you on their side. They can tell you exactly what happened and exactly why the other person is wrong, and they’ve told it so many times it has the smooth, rehearsed quality of something that stopped being examined a while ago.

    What they usually can’t do is explain the other side.

    Not a real version of it anyway. Not the version the other person might actually recognize. They can do a kind of highlight-reel caricature where the other person comes off as selfish or unreasonable or oblivious, but that’s not the same thing. That’s just their own story with a different character labeled.

    Chris Voss has a line I keep coming back to. There are three sides to every story: my side, your side, and the truth. Most people spend their whole lives defending the first one.

    People forget to consider what that costs.

    It costs resolution, obviously. But it also costs information. If you can’t articulate the other person’s position in a way they’d agree with, you’re not negotiating with them. You’re negotiating with your idea of them, which is almost always a worse version than the actual person. Easier to dismiss. Easier to be right about.

    I’ve seen this play out many times where both sides are so committed to their read on what’s fair that they let something genuinely good fall apart. One side thinks the other is greedy. The other finds the offer insulting. Neither one has sat with the question of what the other person actually needs and why. The gap between the two stories is where the deal lives, but a lot of times nobody goes there.

    It shows up everywhere. Families. Business partnerships. Long friendships that quietly go cold.

    The test Voss suggests is a good one. Can you make the other person’s case as well as they could? Not a version that secretly makes you look reasonable by comparison. The real one, with their actual concerns and their actual logic and the parts of their position that, if you’re honest, have some merit.

    Most people can’t do it. Which means most people are still negotiating with their own story instead of with the situation in front of them.

    That’s not a moral failing. It’s just expensive.

    PS- Most landowners aren’t planning to sell today.

    But when the time comes, the people who already have a clear read on the market tend to make better decisions. That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS -If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

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  • The Big Deal Isn’t Harder

    The Big Deal Isn’t Harder

    Don’t spend your whole life playing penny ante games.

    Early in my career I spent months working a deal. Drove the area, ran the comps, found the right buyer, got it closed. Made about a thousand dollars on it.

    I was working with my dad at the time, so he saw all of it. The driving around, the dead ends, the slow grind toward a buyer. He told me I’d done everything right, worked it the way it should be worked. Then he told me something I didn’t fully get at the time.

    He said it isn’t any harder to work a big deal than a small one.

    I argued with that a little in my head. Surely the bigger deal has more moving parts, more zeros, more ways to mess it up. More people who’d notice if you got it wrong.

    He was right and I was wrong. (Don’t tell him I said that.) The work is close to identical. Find someone who wants to buy, someone who wants to sell, put them together and get something done that leaves everyone better off. What changes is the number at the end, and that number doesn’t ask you to do anything different to get there.

    Most of what makes the big version feel harder isn’t the deal. It’s you. You start adding weight to it that isn’t actually there. Bigger feels like it should require more, so you tense up, slow down, second-guess yourself in ways you never would on something smaller. The deal didn’t get harder. You did.

    It applies to most things, and most people never test it. Making two hundred thousand a year isn’t meaningfully harder than making forty. It’s a different set of habits, different deals, different conversations, but it isn’t five times the effort or five times the stress. People assume the bigger number requires being a different kind of person. Mostly it just requires not getting in your own way at the size you’re currently working.

    People spend years circling the smaller version of something because it felt safer, only to find out later the bigger version asked the same of them. If not less. They just hadn’t been willing to find out.

    PS- Most landowners aren’t thinking about a deal of any size today.

    But the ones who do well, big or small, tend to be the ones who stopped sizing up the work before they’d even started it.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS- If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

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  • Ambushed By A Salesman In Real Time

    Ambushed By A Salesman In Real Time

    We both know why you should do certain things. And why you don’t.

    I keep coming back to this one: people put off stuff they already know they should deal with. Not because they’re lazy. Because they’re avoiding a hassle they’re pretty sure is coming.

    Take your land. You’re not looking to sell it today. But knowing what it’s worth, and what’s happening around it, can’t hurt you. You’d have the information sitting there if anything changes. If a neighboring tract comes up for sale, you’re not finding out last. And if it’s a good deal, you might be ready to move on it first.

    So why do most people pass when someone offers them free information?

    Mostly because they’ve been burned before.

    Mention you’re the slightest bit curious what your property’s worth and your mind jumps straight to a timeshare pitch. Numbers too good to be true. A guy who won’t take no for an answer.

    You ask one question. The phone starts ringing. And doesn’t stop.

    So you let it go. Not worth the hassle.

    That happened to me last week. My truck’s had a couple of recalls sitting open for a while (nothing major), and I’d been putting it off because I didn’t want to spend an afternoon at a dealership. A card came in the mail with a QR code, said I could schedule online. Figured I’d try it. The site barely worked, so I gave up after a few minutes.

    Except it worked fine, for what it was actually built to do.

    Within minutes my phone rang. Sales manager at the dealership. I let it go to voicemail. He wanted to know what car I was interested in and when I could come in for a test drive.

    A few minutes later, an email. Somehow he’d copied my wife on it too, asking what we were “working a deal” on.

    I asked for service. They tried to close me on a car I never mentioned.

    That’s the move. That’s why people stop raising their hand.

    When you raise yours with me, that’s not what happens. I’ll reach out, sure. Lightly. No pressure, no script.

    You can decide for yourself what that’s worth.

    PS -Most landowners aren’t planning to sell today.

    But things change. The ones who already understand the market tend to handle that better when it does.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS- If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

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  • The Gas Price People

    The Gas Price People

    It doesn’t pay to worry about the price of something you have to buy no matter what.

    Since I’m out looking at land all over DFW, I drive more miles than most people do in a month. And I don’t drive a Prius, I drive a pickup. Not one of the giant, jacked-up models, but I’m still not winning any awards for conservation.

    So if anyone should be paying attention to gas prices it should be me. But I don’t. But that doesn’t prevent others from telling me about the latest moves.

    You know the type. They watch the price board every time they pass a station. They’ll drive ten miles out of their way to save three cents a gallon. Burn more gas than the savings they get. They text their spouse: “Buc-ee’s in Melissa is at $3.09 right now.” The gas price conversation comes up at dinner like they’re tracking a stock.

    But think about it. Say prices jump twenty cents a gallon. My truck takes about 26 gallons. That’s five dollars more per fill up. Five bucks. The mental energy some people spend tracking that number, recalculating, stressing, and comparing costs more than five dollars. Probably a lot more.

    As a wise man once said: he who knows the price of everything knows the value of nothing.

    And that’s the real problem. When you’re focused on what something costs, you stop thinking about what it’s worth.

    Landowners do this too.

    Not with gas prices. With phone calls.

    They’ve been sitting on a piece of land, could be a hundred acres, could be forty, and every so often they wonder what it’s worth. What’s been selling nearby. Whether the market shifted. Whether now’s the time or not.

    But they don’t do anything about it.

    They’ve decided that the cost of checking is too high. Not in money. Something worse: the pressure. The pitch. The agent who’s going to spend forty-five minutes making it real estate conversation instead of land conversation, then follow up every two weeks until they finally block the number.

    So they wait. And while they’re waiting, they’re not getting the information they’d need to make a good decision when the time comes.

    That’s the real cost. And it’s not five dollars.

    Here’s what I’d ask you to think about.

    What if you knew ahead of time that the pressure thing wasn’t going to happen? If I promised you the conversation was just going to be information, that I wasn’t going to push, that you reach out and end up with a clearer picture and nothing more, would it still make sense to wait?

    Of course anyone can promise no pressure. But don’t take my word for it, hear it from people who actually got a Land Reality Check:

    “The information was helpful by providing market information. I did not and do not feel pressured to take any action. The information provided serves as a baseline for the market value of the property.”

    — Mary G., Frisco

    “How quickly I received a response that was so full of detailed information that I never would have known to even think about.”

    — Lisa H., McKinney

    “I was amazed at all the info I received. For free.”

    — Barbara K., Denison

    The value of knowing what your land is worth doesn’t go away because you’re not planning to sell today. If anything it goes up, because the people who make good decisions on land almost always understood the market before they needed to.

    The cost you’re worried about? It doesn’t exist here.

    PS- You’re probably not looking to sell today. And that’s great.

    But is it a bad idea to know where things stand?

    That’s what the MBR Land Reality Check is for. Sales data, competing listings, development pressure, the factors that affect value that you can’t see from the road.

    No pressure. No drama. Just valuable info to use when you’re ready. If ever.

    Get Yours Here

    PPS-Not ready for that yet? You can sign up below and just read. Land, markets, negotiation. No pitch.

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  • You Did All That Without Visiting the Property?

    You Did All That Without Visiting the Property?

    It can’t all be done from afar, but a lot of it can if you know what you’re doing.

    I recently did a Land Reality Check for someone in Alvarado.

    I was up front when I sent it. The property was a couple hours away so I hadn’t actually been there. What he was getting was what I call a desk valuation.

    So I did what I could from here. Pulled comparable sales, looked at competing listings, checked aerial imagery, topography, floodplain data, road access, utility providers, ownership history, and what’s been developing in the surrounding area. Put it together into a pretty good picture of both the property and the market around it.

    When I asked what surprised him most, he said it was how much data I’d been able to pull without ever setting foot on the ground.

    Here’s the thing about land. A lot of what drives value isn’t on the property. It’s around it. Who’s been buying nearby. What they’ve been paying. How much competing inventory is sitting on the market. Where the development pressure is coming from, if any. What infrastructure exists in the corridor.

    None of that requires walking the dirt. It requires understanding what’s happening in the market.

    Of course, site visits matter. There are things you won’t know until you’re there. If we get a little further along and he’s considering selling, I’ll get out there. And it could change things some if there are things I couldn’t see from hours away. A neighbor situation. A drainage problem. A view that the aerials don’t capture. A transmission line sitting just outside the frame. When talking about selling a million dollar property, you need to see it obviously.

    But the assumption that useful information only comes from physically visiting a property, that one’s not right. In a lot of cases, the most important questions get answered before anyone starts the truck.

    Which is part of why the Land Reality Check works for people who aren’t ready to sell. He is thinking about maybe selling, but not immediately. The report was still useful. He wanted to understand what he owned, what the market around it looked like, whether anything had changed.

    That’s a reasonable thing to want to know. And it’s easy to get.

    PS- Most landowners aren’t planning to sell today.

    But things can change quickly. When the time comes, the people who already understand the market tend to make better decisions.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Check It Out Here

    PPS- If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

    Register to Receive Posts Via Email!

    By submitting, I understand I will receive marketing emails and blog posts from Mike Browning Realty and/or associated companies. Unsubscribe at any time.

  • Things Change. That’s Not the Problem.

    Things Change. That’s Not the Problem.

    The schedule changed. Nobody called.

    My daughter started her first job recently. Retail. Big store.

    She’s a couple weeks in. Shows up on time, good attitude, does what she’s asked. In retail, that combination already puts you ahead of a significant portion of the workforce. The industry runs around 60% annual turnover. No-call-no-shows are a daily problem for store managers. Someone who just reliably shows up is one less thing to worry about.

    Which means they’ll notice. And eventually they’ll start asking more of her. She’s already getting way more hours than she initially expected. That’s fine. That’s how it works. You accommodate when you can, especially when you’re new. You never know who’s watching or where people end up. I have clients who’ve hired six-figure salespeople out of fast food drive-thrus because someone made an impression.

    But there’s a line.

    She has a friend leaving the country. Going away party scheduled around my daughter’s work schedule. She was off at 4, plenty of time. Except she looked back at the schedule and her shift had been moved. Hours later. Nobody asked. Nobody called. It was just different.

    That’s not a scheduling issue. That’s a respect issue.

    She was upset. I was able to talk her through how to approach it and she got things switched back. The boss said the only reason she changed it was that my daughter had written “open to any hours” on her application. Which is true. But a reasonable person knows that if you’re scheduled off, you’re not just sitting around waiting to work. You’re living your life. Sometimes a change is no big deal. Sometimes it’s a huge deal.

    Things change. The market moves. A buyer falls through. A timeline shifts. I’ve seen deals that looked simple get complicated fast and complicated ones come together out of nowhere. That’s just how it works and there’s no point pretending otherwise.

    But there’s a difference between things changing and someone changing things on you without a conversation.

    If something shifts that affects your timeline, your plans, what you thought was going to happen, you’re going to hear it from me first. Not after the fact. Not when it’s already done. You’re not going to look at the schedule one day and find out it’s been changed.

    You control this. That part doesn’t move.

    I can’t promise everything goes according to plan. Nobody can. What I can promise is that you’re never going to feel like you woke up and someone had already decided something for you.

    PS – Most landowners aren’t planning to sell today.

    But things can change quickly. When the time comes, the people who already understand the market tend to make better decisions.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS- If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

    Register to Receive Posts Via Email!

    By submitting, I understand I will receive marketing emails and blog posts from Mike Browning Realty and/or associated companies. Unsubscribe at any time.

  • Not Ready to Sell?

    Not Ready to Sell?

    Good. Look Anyway.

    Most landowners aren’t thinking about selling. If anything, they’re thinking they never will.

    They’re at a 1 or a 2 on a 10-point scale. If that.

    But life comes at you fast. Kids going to college. Estate planning conversations you weren’t expecting. Something happening nearby that changes how you feel about owning land there. We’re seeing that a lot right now, data centers, crypto mining operations moving into rural areas. Things that weren’t on anyone’s radar two years ago.

    You can go from “I’m never selling” to “I wish I’d sold last year” faster than you’d think.

    So it’s worth having a baseline. Most people agree with that in theory. Most people still won’t do it.

    Because the last time they asked a question like this, they ended up in a conversation moving faster than they wanted to move. Some agent walking the property, running numbers, and applying list-now pressure that would make a timeshare salesman blush.

    It’s uncomfortable.

    So they wait. Market shifts. They finally get serious two years later with worse information than they would have had if they’d just asked the question when they first had it.

    That’s an expensive way to stay comfortable.

    The landowners who make good decisions are almost never the ones who acted fast. They’re the ones who started paying attention early. Understood the market before they needed to. Weren’t scrambling when the time came.

    That takes time. And it starts before you’re ready.

    Looking doesn’t mean selling. Getting a clear picture of what your land is worth, what’s selling nearby, where development pressure is headed, none of that commits you to anything. It just means you’re not guessing when it matters.

    The only thing that makes early conversations uncomfortable is working with someone who treats them like a sales call.

    That’s not how I operate. If you’re at a 3, I’d rather you know where things stand than stay in the dark because you were worried I’d push you somewhere you weren’t ready to go.

    You control the timeline. That part is on you.

    My job is simply to make sure you have the information when you’re ready to use it.

    PS – Most landowners aren’t planning to sell today.

    But things can change quickly. When the time comes, the people who already understand the market tend to make better decisions.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details affecting value that aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS– If you’re not ready for a Reality Check but enjoy reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

    Register to Receive Posts Via Email!

    By submitting, I understand I will receive marketing emails and blog posts from Mike Browning Realty and/or associated companies. Unsubscribe at any time.

  • What Matters a Lot More Than Why

    What Matters a Lot More Than Why

    The why is mostly a guess anyway.

    Most people who get stuck spend too much time on why instead of just noticing what and operating accordingly.

    The why is hard to know. When you’re dealing with people it’s especially hard, because sometimes they don’t want you to know what they were thinking, so they don’t tell you. Other times they aren’t hiding anything but you still don’t get accurate information. A lot of the time people do things for reasons buried in their subconscious that they may not even be aware of. When they tell you why they did something they aren’t lying, but it’s also not accurate.

    I was reading something this week about a company selling a business opportunity. They held seminars in various towns and tried to convert interested attendees into buyers.

    They were doing well, but things got much better when someone on the team asked a simple question: what do the buyers who say yes 99% of the time have in common?

    Turned out to be middle-aged married men with crew cuts.

    Why? Nobody knew. The company’s answer was: who cares?

    Instead of trying to figure it out, they sent people ahead of their seminars to visit local barbershops and pay them for contact info on customers who got crew cuts.

    This was decades ago, so it wasn’t as creepy-sounding as it might be today. Though I always find it interesting that the people most vocal about privacy are also the ones who hand all their information to social media for free, where it gets sold in basically the same way.

    Anyway.

    When I do a Land Reality Check for someone, what you’re going to get is what has been happening, with a lot less focus on why. Because that’s what we can actually know, and it’s what helps you decide what to do next.

    That doesn’t mean there’s no explanation at all. If you own a custom home lot, that market has been slow since interest rates rose a couple of years ago. Higher rates mean higher costs. Higher costs mean fewer buyers, other things being equal. That’s a partial why.

    But I’m not getting into what caused rates to go up, when they might come down, or whether the Fed is doing a good job. That’s someone else’s job and you can find that content anywhere.

    What’s been happening is what matters. The rest is mostly guessing dressed up as analysis.

    PS- Most landowners aren’t planning to sell today. But things change, and when they do, the people who already understand their market tend to make better decisions.

    That’s what the MBR Land Reality Check is for. It looks at nearby sales, current listings, development pressure, and the details that affect value but aren’t obvious from the road.

    Is it a bad idea to know where things stand?

    Get It Here

    PPS -If you’re not ready for a Reality Check but like reading about land, markets, and negotiation, you can sign up below and get these posts in your inbox.

    Register to Receive Posts Via Email!

    By submitting, I understand I will receive marketing emails and blog posts from Mike Browning Realty and/or associated companies. Unsubscribe at any time.