Mike Browning

Tag: selling land

  • 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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  • It’s Probably Not Time Today

    It’s Probably Not Time Today

    Or maybe it is, but the smart thing to do today is the same.

    From what I’ve seen, the land market around here has been moving mostly sideways for about three years now.

    With acreage it’s hard to do an apples-to-apples comparison because every tract is different. But I’ve seen it with custom home lots, where the exact same lot has sold more than once over the past few years.

    From 2020-2022, rapid appreciation. Since then, basically the same prices, But much less activity overall.

    The usual explanation is that interest rates are higher and that’s slowing down development and investment. Or uncertainty about wars and geopolitics.

    Those are both probably part of it, but I think there’s sort of a musical-chairs aspect to it as well.

    There was a growing subset of land investors who would buy tracts, sell at a profit when new investors came along, buy something else, rinse and repeat.

    Until the new guys stopped showing up.

    Some of them are now trying to sell things they may have overpaid for, and so far they haven’t been willing to bite the bullet.

    Some of that probably needs to work its way through the system before things really start moving again.

    And with agricultural valuation, debt-free land can be relatively inexpensive to carry. So owners who don’t need to sell can, and probably will, wait out the market.

    So it’s probably not time to sell today.

    That doesn’t mean it’s not time to know where you stand.

    Things can change fast, and getting your ducks in a row now pays off. You’re not scrambling at the last minute.

    The MBR Land Reality Check gives you a clear-headed review of where things stand for you today, with actual sold comps and other information that puts you ahead of the game.

    You’re not deciding to sell and there’s no pressure. You’re just giving yourself permission to look.

    You can do that below.

    Of course, you could be someone who needs to sell sooner. Loan coming due, estate issues, you found a better opportunity, or whatever.

    If that’s you, the course of action is the same.

    Get the MBR Land Reality Check and go from there.

    Get it here

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  • What Do You Expect For Nothing?

    What Do You Expect For Nothing?

    Sometimes quite a bit.

    Free has a reputation.

    Usually it means automated. Generic. A teaser designed to get your phone number so somebody can call you and start selling.

    So I understand if that’s what you expect when I tell you the MBR Land Reality Check is free.

    It’s not.

    Each one is prepared manually. I look at the property, recent comparable sales, what’s currently happening in the surrounding market, and the things that could affect what a reasonable buyer might actually pay today.

    Then I put it together as a Broker Opinion of Value so you can see the information behind my opinion, not just the number itself.

    Could I charge for that? Probably.

    I’ve had people tell me I’m crazy not to.

    Maybe I will eventually.

    But I don’t today.

    You’re probably not ready to sell. And that’s great.

    But if you look at most of the land on the market, many of those sellers were saying the same thing not long ago.

    Things change. Sometimes quickly.

    Getting a handle on where you stand doesn’t mean you’re going to sell. It’s just being ahead of the game.

    And you’ll get no pressure from me. I only want to work with people who are ready. If I have to talk you into it, it’s not a fit. For either of us.

    Is it a bad idea to have current information?

    It’s still free. For now, anyway.

    Check it out here.

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  • Sticktoitiveness

    Sticktoitiveness

    Didn’t happen fast. But we stayed with it.

    Finally!

    Last Friday we closed on a lot.

    If you’ve been reading here awhile, you know why that feels like a bigger deal than it would have a few years ago. The lot market has been slow the last 2-3 years. Mainly interest rates. Someone building a custom home is usually taking out a sizeable loan, and the rate makes a real difference in the monthly payment.

    So fewer people are building. And if you’re not ready to build, you’re not ready to buy a lot.

    Lots are more extreme than houses that way. Everyone needs somewhere to live, so there’s always some demand for existing homes. The price might have to come down a little to get it moving, but it moves. Nobody needs a new custom home, no matter how much they want one. If a buyer isn’t ready to build, knocking $10K off the lot price doesn’t change that.

    So you wait. And keep doing what’s worked before, because it works again. Just a question of when.

    This one had its fits and starts. Fell off the market twice, came back a month later as a new listing both times. A couple of price reductions. A builder who wanted to put a model home on it, until the HOA told him no. Another builder who made an offer, then decided he couldn’t stick his neck out right now.

    We kept going anyway. Congratulations to the McWhorters, who’ll be building on the lot, their agent Ron King, and Chicago Title in Dallas for handling the details.

    And thanks to my clients, for their patience.

    Selling lots was more fun 4-5 years ago, when everything just came easy. Anyone could do it. Getting one done today means more.

    If you own lots or land, you’re probably not looking to sell right now. That’s probably the right call. But things change fast, and it’s better to know where you stand before you need to than after.

    That’s what the MBR Land Reality Check is for. A clear eyed view of what your property might sell for today, what the market in your area is doing, and what you need to be paying attention to.

    It’s free for the asking, with no obligation or pressure to list. Just accurate information from someone who focuses on non-residential property, not a home seller masquerading as a landman.

    Is it a bad idea to know where things stand? Give yourself permission to look!

    Get yours here.

    P.S. If you’re not ready for a Reality Check but like reading about land, lots, and the North Texas market, you can get these posts by email instead.

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  • 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.

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  • You Know You Should. You Also Know Why You Don’t

    You Know You Should. You Also Know Why You Don’t

    It doesn’t have to be the way you’re afraid it will be.

    If you own non-residential real estate, you probably find yourself wondering from time to time what it might sell for today. How it fits into your overall financial picture. What’s going on around it.

    You’d probably also agree it’s a good idea to know.

    Even if you’re not planning to sell. Things change. Sometimes faster than expected. And it’s a lot easier to deal with that when you already have a handle on things, rather than trying to figure it out when you need it yesterday.

    Not to sound like an NRA ad, but it’s better to have the information and not need it than need it and not have it.

    So you know you should.

    But you still don’t.

    And the reason is pretty simple.

    We’ve all had the experience of getting close to needing a new (or newer) car. You start looking online just to get a feel for things, and before you can even look at anything, a chat box pops up.

    It says there’s a real person there. You know there isn’t.

    If you get past that, you’re not getting much real information without giving them your email or phone number. And once you do, you’ve effectively signed up to hear from them for the foreseeable future.

    All the dealerships say they’re different. Experience says they’re mostly the same.

    Sounds a lot like Realtors, if we’re being honest.

    If you ask for an evaluation, you expect it to come in high. High enough to get your attention. Then adjustments get made later once you’re already in the process. And if you don’t move forward right away, you can expect follow-up. A lot of it.

    So while you know it would be smart to stay on top of things, I understand why you don’t.

    Most people don’t.

    But that doesn’t mean you’re wrong to want the information.

    It just means you don’t want everything that usually comes with it.

    So here’s the question.

    What if you could look without getting pulled into a process?

    What if you could get a realistic view of where things stand, without someone trying to turn it into a listing conversation before you’ve even had a chance to think about it?

    That’s the difference.

    Am I going to follow up with you? Of course.

    But it won’t feel like what you’re expecting.

    Allow yourself to take a look while the pressure is off.

    PS- Most landowners are not planning to sell right now.

    But when something changes, the ones who already understand what they’re dealing with tend to handle it better than the ones figuring it out on the fly.

    That’s what the MBR Land Reality Check is for. It looks at actual sales, what’s competing, and the things that quietly push value one way or the other.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS- If you’d rather just keep an eye on how this works, you can sign up below and get these posts in your inbox.

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  • When Someone Keeps Coming Back

    When Someone Keeps Coming Back

    It means something, especially when they don’t have to (or necessarily need to).

    I got a testimonial recently from one of my longest-running clients. Probably the most consistent relationship I’ve had.

    Jack L. is the Executive Vice President of Acquisitions and Development for a national, publicly traded homebuilder. We’ve worked together on land and lot deals for over 20 years.

    Here’s what he said:

    “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.

    I went back and actually added it up after he mentioned the 20 years.

    A couple dozen deals.
    Over $50 million in total transaction volume.

    We haven’t done anything together in the last couple of years. The market shifted, and they opened a regional office in Dallas, so they handle more in-house now. We still stay in touch, but they don’t need outside brokers the same way they used to.

    Groups like that aren’t tied to any one broker. They see a lot of deals, and they’re more than capable of finding opportunities on their own.

    The fact that we continued to work together over that period of time is what matters.

    What stood out to me in that testimonial wasn’t the volume or even the length of the relationship.

    It was this part.

    Helping sellers understand what to expect.

    That’s the part most people underestimate.

    When a developer is the buyer, they can usually pay the most. They’re the ones who can turn the dirt into something else. But those deals come with a lot behind them.

    Underwriting.
    Market testing.
    Internal approvals.
    City approvals.

    The city alone can stretch things out. And it tends to get slower, not faster.

    What looks simple from the outside usually isn’t.

    Someone who doesn’t do this every day might assume a deal like that should close in a couple of weeks. Maybe 30 days.

    In reality, you’re often 45 days in just getting a survey and environmental work done. After that, you’re waiting on approvals, and those are not on your timeline. Four to six months is pretty normal if everything goes smoothly. Longer if it doesn’t.

    From the seller’s side, that can feel off.

    You know your property. You’re ready to sell it. Then you’re dealing with a process that feels slow and overly complicated, and it’s easy to start wondering what the buyer is really doing.

    Most of the time, they’re not being difficult.

    They’re trying to make sure the deal actually works before they commit to it.

    If that part isn’t explained up front, it can feel like the whole thing is getting dragged out for no reason.

    That’s where a lot of deals start to go sideways.

    And most of the time, it has nothing to do with price.

    It comes down to expectations.

    PS – Knowing what to expect is step one in making a smart decision.

    You may not be thinking about selling your land today, and you don’t have to make any decisions until you’re ready.

    Is it a bad idea to give yourself permission to just take a look?

    That’s where the MBR Land Reality Check comes in.

    It’s an in-depth look at recent nearby sales, market trends, development activity, and the types of buyers who might be interested in your property right now.

    Once you have it, you still don’t have to make any decisions about selling. But you’ll have what you need if things change.

    Allow yourself to take a look.

    Get the MBR Land Reality Check here.

    PPS – If you’re not ready for the Reality Check but like this kind of thinking, you can sign up below to get these in your inbox.

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  • You Don’t Have To Do Anything

    You Don’t Have To Do Anything

    But you’re allowed to look

    One of the differences between highly successful people and everyone else is simple.

    They don’t talk themselves out of things before actually looking at them.

    They don’t act on every idea, but they give themselves permission to take a look before deciding it’s not for them.

    Most of the time, nothing changes. But every once in a while, they find something that creates a meaningful shift.

    If you look back over your own life, you can probably point to a handful of decisions that did most of the work getting you where you are.

    Like who you married. Or a job you took (or decided not to take). Something negative you stopped doing.

    It’s not dozens. It’s a few.

    The difference is, some people give themselves more chances to find those moments.

    If you own lots or land, you’re probably not actively trying to sell it.

    You may not even be thinking about it. Maybe you’ve been told the best move is to hold.

    Or maybe there’s an emotional attachment.

    But when you allow yourself to step back and look at the bigger picture, you might see it differently.

    Or you might not. And that’s fine. The point isn’t to force a decision.

    It’s to give yourself permission to look.

    Are you better off selling and paying down debt?

    Would selling allow you to move into something more useful or better located?

    Or does it make the most sense to leave things exactly as they are?

    In a lot of cases, doing nothing is still the right move. Probably most of the time.

    But you don’t really know until you look.

    And that’s where most people stop.

    Because of what comes next.

    Looking into it usually means talking to someone. And talking to someone usually means starting a process.

    Meetings. Conversations. Follow-ups.

    Dealing with someone who seems to be pushing toward a sale, whether it fits or not.

    Feels a lot like going to a car lot.

    Except this is something you don’t actually have to do.

    So you leave it alone. Not because doing nothing is clearly the best move.

    But because looking into it feels like committing to something.

    That’s the part that doesn’t need to be true.

    You don’t have to sell.

    You don’t have to decide.

    You don’t have to move forward with anything.

    But you are allowed to look.

    You’re allowed to understand what you have.

    What it might be worth. What your options actually are, without it turning into a process you didn’t intend to start.

    Sometimes, after looking at it, the answer is still to do nothing. Sometimes it isn’t.

    But either way, it’s a decision you made on purpose.

    Not something you avoided because you didn’t want to deal with what might come next.

    PS – Another reason people put something like this off is simple. It takes time. You have to gather information, sort through it, and figure out what actually matters. And if you don’t deal with it regularly, you may not even know what to look for.

    But what if you could have that done for you without getting pulled into a sales process on the back end?

    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 don’t show up in a quick search.

    This is typically something I’d charge for, but I’m offering it at no cost for now.

    If you’ve ever wondered what your property actually looks like in today’s market, this is a straightforward way to find out.

    Get the MBR Land Reality Check

    PPS – If you’re not ready for that but like thinking through 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.

  • You’re Not Avoiding Selling

    You’re Not Avoiding Selling

    You’re avoiding the conversation that comes with it.

    Most people like the idea of a new car.

    They don’t like buying one.

    It usually means going somewhere, sitting down, and dealing with someone who says they’re there to help, and you know they’re trying to sell you something.

    That’s not a knock on them. The job is to sell. They also know that if you leave without buying, you’re probably not coming back.

    That changes the conversation.

    You start sorting through everything in real time. What’s real, what’s a line, what’s being left out. After a while, you’re just looking for a way to get up and leave.

    So you put it off.

    Not because you don’t want the car, but because you don’t want that process.

    If you own lots or land, it’s usually the same thing.

    You know at some point it might make sense to sell, or at least understand where things stand. But that usually means stepping into that same kind of conversation.

    Sitting down with someone who talks in generalities, leans on clichés, and keeps nudging things toward a deal. Whether it’s obvious or not, there’s a preferred outcome.

    So you leave it alone.

    Not because doing nothing is clearly right, but because it’s easier than dealing with that.

    I see it all the time. People wait until something forces the issue, and by then they’re reacting instead of deciding.

    What you actually want is pretty simple.

    You want someone who will tell you the truth, even if it doesn’t lead anywhere. Even if it doesn’t make anyone money right now.

    And you don’t want to block off half a day just to get there.

    That’s how I handle it.

    I do things in a way that doesn’t soak up your time or leave you feeling dragged along in the process.

    I’m here to advise, but you’re in control. I work for you, not the other way around.

    A lot of the properties I’ve sold, I didn’t meet the seller until closing. Some I never met at all. Not because I avoid it. I’ll meet whenever it makes sense.

    But it doesn’t have to start there.

    It can start with a conversation. Email is fine. That’s usually what I prefer anyway.

    Sometimes that turns into a sale. Sometimes later. Sometimes not at all.

    But at least you’re deciding based on what actually makes sense, not because you got pulled into something you didn’t really want to deal with in the first place.

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

    But things change, timing, markets, personal situations.

    When that happens, the people who already understand where they stand 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 don’t show up in a quick search.

    This is typically something I’d charge for, but I’m offering it at no cost for now.

    If you’ve ever wondered what your property actually looks like in today’s market, it’s a straightforward way to find out.

    Get the MBR Land Reality Check

    PPS – If you’re not ready for that but you like thinking through 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.

  • Never Ask a Barber If You Need a Haircut

    Never Ask a Barber If You Need a Haircut

    And be careful asking a real estate agent if it’s a good time to sell.

    You already know how agents get paid.
    Property sells, they get a commission. If it doesn’t, they don’t.

    That part isn’t confusing.

    What people don’t always think through is what that does to the conversation before anything sells.

    Most brokers give out information upfront.
    Valuations, pricing opinions, strategy.

    I do it too.

    It looks free, and in a narrow sense it is. You’re not writing a check for it.

    But it’s not neutral.

    If someone only gets paid when something sells, their advice is going to lean that way. Not because they’re lying. Because that’s how the structure works.

    List it.
    Price it.
    Get it done.

    You’ll hear about timing, positioning, exposure. A lot of that is right.

    What you won’t hear as much about is doing nothing. Holding. Waiting. Changing the plan in a way that doesn’t lead to a quick transaction.

    Those paths don’t pay.

    So they don’t get the same attention.

    That doesn’t make the broker bad. It just means you should understand what’s driving the advice.

    In my case, I’m in the same model. I get paid when something sells.

    But I’m not in a position where every conversation has to end there. I can tell someone to sit still when that’s the better move.

    A lot of brokers can’t.

    If the only path someone lays out for you ends in a listing, it’s worth noticing.

    Not arguing. Not accusing.

    Just noticing.

    And asking yourself one question.

    Would this still make sense if I didn’t sell?

    PS – Most landowners aren’t planning to sell today.
    But situations change, and when they do, the people who already understand their position 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 don’t show up in a quick search.

    Is it a bad idea to know where things stand?

    Get Yours Here

    PPS – If you’re not ready for that but like reading about land, markets, and negotiation, you can sign up below and get these 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.