Category Archives: Uncategorized

The value of competition

In the world of selling hotels (or selling anything else.) nothing replaces the value of competition. Every buyer of anything will tell you they want an off market (noncompetitive) deal, but they really don’t. Whether you are buying a house, car or a hotel, there is great value in you knowing there are other buyers ready to step in. It forces you to make the decision to either buy it or past it up. No one will say this out loud, but they need to know other people want it as bad as they do, which in turn validates the value in their minds.  

The worst thing you can do in real estate is work with one buyer. I have experienced this many times. If that one buyer believes he/she is the only buyer, he/she will never stop trying to sweeten the deal one nickel and dime at a time. The reason is they think they are in control and are the only ones interested in the deal. Therefore, competition is always needed.

When we get a hotel under contract, we continue to market a hotel until all the contingencies are satisfied. In fact, we ramp up the marketing to demonstrate to the current buyer that there is competition. When a buyer threatening to back out of a contract, the best words you can say is, “I understand, and we wish you the very best on another deal.” This always catches the buyer off guard because he expects you to begin explaining how great the deal is and why he should buy it. What he doesn’t expect you to do is say, ok.

When I purchased my truck earlier this year (don’t laugh) there we no less than four other men standing in the lobby ready to buy it if I didn’t. Say what you want, but the fact that four other people were ready to buy it, made me want it even more. Therefore, auctions work so well because there is always competition wanting the same deal. Even buying or selling something on eBay is exciting for the same reason.

In life, people sometimes don’t want what they already have until they realize they might lose it. KT  

Red Lights and Green Lights

I was consulting with a young man recently who had an job offer to change career paths. On the surface, it looked like a great opportunity for the guy. The advice I gave him is advice I wish someone had given me 34 years ago before I purchased those fast-food restaurants and a few other financial moves I have made.

I told him, if you have the courage, tonight when you get alone, ask God if this is the right choice for you. I used the word courage because many times we don’t want to ask God because we are afraid of what the answer is. I painted a mental image for him using red lights and green lights. I said, if you get green lights from God, I will be your biggest cheer leader, but if you get red lights, step very carefully.

As I look back over my life, I wished I had used this simple advice myself because I would not have made some of the missteps along the way that I had no business being involved in. I guess you could say I have a double PHD on what not to do again. Ha.

This was a big decision for the young man but in our lives, the same advice helps with even the smallest of decisions. James 1:5 is probably the verse I have leaned on more than another verse in the bible because it promises wisdom if you simply ask. I memorized it years ago and probably whisper that prayer at least once a day.

As we go into the holiday season where every light is red or green, when you see the lights, think about this blog post, and carry the advice with you. It does work if only we have the courage to ask. KT

If I could do it over, I wouldn’t waste one minute.

With very few exceptions, this is the thought on every person’s mind if they are at life’s end. It is also the thought on every person’s mind who lost someone dear, or they just received bad health news.  

If this is true, it would mean that the most important things in life are not material possessions. They are in fact life itself and those closest to us. Additionally, if this is true, those of us reading this blog who are not in the position like the people listed above, we should listen close to their message and look, stop, focus, and realize the gift we have been given. KT

Doing what is right

There seems to be some confusion in some corners as to what is right and what is wrong. The truth is, with very very few exceptions, we all know what the right thing is to do and what the right answer is. When money and people are involved, there are some who act like they don’t know what the right answer is, but they do.  

I sell hotels and over the years, I have had buyers and sellers offer me everything from money under the table to free cars if I would help them get a deal. I am proud to say that I have not only never taken the bait, but that I have never even been tempted to. There is a hotel broker that I knew well years ago who chose to take side deals, kickbacks, and money under the table. Today that same person is serving a prison sentence and has lost everything he had and once believed in.

Here is the thing, in life, whatever you compromise to keep, you always seem to lose. I believe that once you step over certain lines you never really get it back. There are certain things in your life that you must do before you can truly enjoy the rest of your life. I believe knowing in your heart that you were honest, is one of those things. Oh, sure there are some scoundrels that never get caught and live to an old age but the real question no one will ever know is, did they really have peace and joy.

My mentor Harmon Born passed away a couple of years ago and he always told me that the key to restful sleep, peace and joy is to do what is right even if no one is watching. I think those are pretty good words to live by. KT

Recognizing the gift of today

I am not sure how to really express this, but today (and every day) is an unimaginable gift. I know people (I am one of them) that get so wrapped up in what we are doing and in our work that we just run by and completely miss the gifts around us.

Over the past 18 months I have lost some close friends who probably thought that they themselves had a lot more time, but God called them home early. I can’t explain it, but the fall season makes me reflect on life around me and the moments that have shaped who I am. I remember meeting my wife for the first time in science class in high school, holding my daughter’s hands when we had bedtime prayers, the little song I would sing to them when they were little, looking into the eyes of the men they married that would take my place in their hearts, holding my grandchildren for the first time. My specials memories could go on for pages.

My point, as the leaves are turning and Thanksgiving and Christmas is around the corner, take a moment and appreciate who and what is around you that God has let you live to see. Don’t ever take it for granted. I feel sure that my friends who left early would give everything they had for just another few days so they could properly say goodbye. In my business we have a saying, “don’t leave anything on the table” which means to give it your all. Today, make sure you don’t leave anything on the table of your life. KT