"Agent Remarks" by Ross Kaplan

Proposed Book Title

I know you're supposed to come up with the book before you come up with a title, but never mind.

If I ever write a real estate book -- and with something like 1,500 blog posts under my belt, I probably already have -- I know what I'll call it: 'Agent Remarks.'

That's a very "inside baseball-y" reference to how home information is presented on MLS.

In one field, called "Public Remarks," the agents extol all the home's virtues.

Meanwhile, in the field immediately above, called "Agent Remarks" -- intended only for agents -- they provide any 'dish': available selling bonuses, the Seller's true circumstances and motivation; a (more) honest assessment of the home's strengths and weaknesses.

P.S.: and if you're a Realtor reading this blog, remember that everything I write is copyrighted, and that I'm friendly with lots of the attorneys I used to practice corporate law with.

That would be Moss & Barnett -- not just very good lawyers but also "mentches" (Yiddish for "good, principled people"). You're welcome for the plug, guys . . .

P.P.S.: As any Buyer who's ever worked with me will vouch for, I always print out what Realtors call the "Unabridged Full" MLS report for my clients, so that they see and know everything I do.

Hmmm . . . "Unabridged Full . . . I think I know what to call the sequel!

Holiday Reading List -- Real Estate Version

Reading -- and Skip -- List

Real estate books cover a lot of ground (pun intended).

At one end of the pendulum are the various "how to" books: how to invest, how to fix up properties, how to get into the business and prosper.

At the other end of the pendulum are the more purely recreational and/or aesthetic books that celebrate real estate's potential to thrill and inspire us. You know, "coffee table" books.

No matter where your interests lie, here are a couple ideas likely to appeal to you (or someone you're buying a gift for!).

Recommended:

"A Man in Full" -- Thomas Wolfe. This book is to real estate what "Bonfire of the Vanities" was to Wall Street.

"The Real Estate Game" -- William Poorvu. Best investment book I'm aware of: informed discussion of "cap rates," risk/return, etc. with none of the inane advice found in the various "get rich quick" entries. (The latter collectively conjure up Mark Twain's stock market advice: "making money in stocks is easy. Only buy a stock if it goes up; if it doesn't go up, don't buy it" -- more on this below).

"The Not-So Big House" -- Susan Susanka. A reaction against the "McMansion" movement in 2001, this book is arguably even more relevant today. Susanka has practically turned this into a franchise, ala "The Idiot's Guide to," or the "Rich Dad, Poor Dad" series of books (see below).

Dwell magazine. Who says it has to be a book? Of the multitude of real estate magazines out there, this is consistently one of the most interesting and "fashion-forward."

Skip:

--Anything by Donald Trump. He's a vain idiot, who's burned practically everybody who's lent him money or bought shares in his companies. Or married him: I think it was New York Magazine that wrote that Trump doesn't marry -- he "rents with an option to buy" (apparently, he favors 5 year leases).

--the guy who wrote "Rich Dad, Poor Dad" (nice franchise, dude!). I'm under the impression that very little of it is reality-based, including the mentoring provided by the "rich Dad" who supposedly lived next door.

--anything with the word(s): 'the best'; 'profit'; or "secret" in it.

After browsing maybe a couple dozen of these, here's a fair summary of what they all say:

"Buy an overlooked gem that's priced ridiculously cheap by an unsophisticated, motivated seller who somehow has lots of equity in the property. Get them to finance the purchase. Make a few, cosmetic changes, then sell at a huge mark-up."

Not succinct enough? How about this: "Buy low, sell high."

In truth, there is one useful nugget I got from one of these books (I forgot which one): invest in properties close to where you live. Driving across town to meet a plumber/electrician/handyman is a time-consuming drag.

Your Call:

--"Getting to Yes." Well-known book on negotiation. However, not sure that great negotiating can be taught any more than someone can be taught to throw a 95 mph fastball.

In my experience, negotiating skills are a function of temperament and experience. Lots and lots of experience (I almost think of it like jet pilots logging flying time).

Not in the mood to read?

There's always Monopoly . . .

P.S.: Unlike the various "insider" books on what it's like to be in a various trade or profession -- Scott Turow's "One L," about the first year of law school, comes to mind -- I'm not aware of a consensus pick for would-be Realtors.