CHAPTER 1

Stay Out of Real Estate Jail

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Congratulations on purchasing Stay Out of Real Estate Jail. Between this book and theinformation you can own and download from my website at www.barbarabellolsen.com youare going to be able to jumpstart your terrific career in real estate—or, if you are a seasonedpro, you are going to be able to rejuvenate, refresh and build on what you have alreadyaccomplished. Your business will explode, as will your bank account.

If you are anything like me, you have started reading this book on this page and omittedreading the foreword, the preface and the disclaimer. I strongly urge you to go back and startby reviewing the information in front of this chapter. The editors who have helped me reworkthis book numerous times suggest storytelling should be in a specific order. That means thereis information in the previous sections that will help you understand why some items andideas are presented in a specific style or order. I always jump to the meat and potatoes, butI now realize the importance of starting right at the beginning of the book.

You will see that I have been successful, become a nominee, bought my own franchise andbuilt my own "boutique style" office building in Vancouver, British Columbia, Canada. I ampresently a managing broker for a large Canadian franchise brokerage, and I write and teachcourses—including four levels of "Writing Enforceable Contracts" and a full-day course called"Multiple Offers"—as an outside approved accredited instructor for our British Columbia RealEstate Association.

Most people have a hobby. It could be fishing, hunting, boating, cooking, arts and crafts,or many other wonderful interests. I love cooking and trying out new recipes, but I seem tohave a passion for the real estate profession that keeps on growing. My mind must be a bitweird, because I love the intricacies of our industry. I have a knack for it, and the informationseems to stay in my brain. I often tell my students that I have no life. I enjoy and thrive onhow to better improve our profession, how to improve our image and more importantly, howto help my fellow colleagues.

It has almost become an obsession with me, to the point that I believed it was time toput pen to paper and share my knowledge with those who truly want to become the crèmede la crème. This book and my website were over three and a half years in the making, butnow it is closer to four years. I was so used to teaching and being able to verbally explain mywritten material that I honestly had trouble writing this, because I kept forgetting I won't bepersonally reviewing it with you.

That's where the editors were of huge help in having me reorganize and re-edit everythinga number of times. They showed me that I must be explicit and definitive in what theprocedures and methods are, and I need to remember we won't be chit-chatting about theparticular subject. If ever you have questions or concerns, you are more than welcome toe-mail me at barbarabellolsen@shaw.ca, and I will try to be of assistance. I am just so verylucky that I can now share my methods and information with you.

There are not very many agents who want to be a managing broker. For one, the pay isnowhere near what you make by selling real estate, and the job is that of looking after theagents in your brokerage. I personally love it.

Managing brokers are given the authority and information to make decisions in a timelymanner and oversee the brokerage operations and those of their agents. They ensure that thebrokerage business is carried out competently and in accordance with the Act, regulations,rules and bylaws, and also ensure that there is an adequate level of supervision for agentsand for employees and others who perform duties on behalf of the brokerage.

When my agents don't understand something or need some help, I will do everything Ican to assist them. When I have to think outside the box to help them, I really thrive on that.There is almost always a solution, and together we will work through the problem and solveit. It is so great to be able to help.

I get to assist with educating both our new agents and our experienced agents, and I amresponsible for reviewing their contracts and making sure they are current with the rules andregulations. As part of my duties, I send a note about any errors or items that may becomeof concern in the future so that they are up to date and know for the next time. I hate doingthis, but it is part of my managing broker requirements, and my salespeople know I am onlytrying to help them for another contract they may prepare that may have the same items orconcerns. Thank goodness they understand and don't take it personally, knowing it is whatis required of me.

This is the perfect career stage for me. As I said earlier, I have never worked a day in mylife since entering real estate, and I absolutely love working with sales agents and people andbeing able to help them.

That too...