The people at Trademark are extremely nice and down to earth, but...the preparation of the whole event was terrible. Richard Davis had no organization to his remarks (he was all over the place - one minute talking about why his kids go to public school and then talking about teamwork, community, real estate, and then about problems in America...- for over two hours he did this...whey). I left after the two hour mark and he was still rambaling. Checking people into the event was also a nightmare...the event started an hour late because of the poor planning. In their defense, I'm sure this was their first time doing something like this and Richard is not an experienced speaker (I hope not anyway). They have a great team in Charleston but I doubt they will succeed nationally. They need way more organization than what they showed today to make it happen. I'm guessing the delay in the book release was due to poor planning as well...
Thanks...we just wanted to make sure that we weren't the only ones that felt that way. Richard seems like a great guy, but today's experience unfortunately made us lose a lot of respect for him in a business sense.
I am so sad to say...I have to agree. I was disappointed in the lack of organization and left feeling that Trademark was looking for a way to identify potential markets, which was achieved by "challenging" us to get to SC. I definately was not inspired to follow, and I hope TMP did not do more harm to Richard's "vision," than help. I was hoping to leave with a feeling of wanting to bring TMP to my hometown, and AT LEAST, be inspired to continue to pursue excellence within my own business, as Richard has with his. I was hoping to see how he managed to find a wonderful balance between business brilliance and personal responsibility and generousity. I did not get any of this. I know Richard is habitually late, but I didn't find that quality particularily endearing when I spent alot of money and time getting to SC, it didn't make my trip seem appreciated or worthwhile. I am so sorry about this because I have so very much respect for Richard's brilliant mind and giant heart...I think however, he should have had professional meeting planners help out with logistics and he should have been the star speaker with a real "take home" message. Instead, it left me wonder how he could organize 50 area partners to deliver 1 unified message, when he, himself, could not deliver his.
Sadly, I agree with the previous posts, but I’m glad I’m not the only one who feels this way. After spending over $1000 in flight, hotel, etc. arrangements I was disappointed in the whole thing. The organization was a disaster and included no logical operating procedure. I am a HUGE fan of Richard’s and what he has done, but if I were him I would be embarrassed by today’s performance. Someone mentioned him being all over the place with his speech, which was certainly the case. We got a handout questionnaire but no instructions regarding what to do with it. I learned virtually nothing about how the partnership was going to work or what sort of commitment he was looking for from potential investors. He said he had ten areas targeted for the initial roll out based on market trends, but didn’t bother to disclose those areas to us. The slide show that displayed the “numbers” he talked about throughout the presentation was unreadable from virtually any place in the theatre due to the size of the projection. I feel like the whole thing overall lacked the proper planning it takes to successfully put together a presentation of this caliber. Sorry Richard, like I said I am a huge fan, but if you’re reading this, please consider my observation as constructive criticism and nothing more.
This is going to be my last post here. A lot of people came with (wrong) preconceived notions as to what this was going to be about and as a result, were disappointed.
I wasn't, in fact, it was just what I hoped it was! For everyone else I guess you could call this the first "shakeout".
I have great respect for R. Davis, but as all have said……disaster. I was left wondering, what’s the point to all this. I expected to see numbers, model profit splits, ect. My brother and I dropped $90 on tickets and $60 on gas. I feel horrible for the poor folks that drove for hours or flew in from other areas. The fellow sitting to my right flew in from Cali, and the fellow on my left drove from Tenn. I overheard one guy cursing to his wife on the phone because he drove from Ohio for nothing. Richard is brilliant, but as the others have already stated, DISASTER! 2,500 tickets were sold at $45 a piece. IMO, the cost for rental of the auditorium should be deducted from the $112,500 in ticket sales, then divide that number by 2,500 and that’s what should be returned to us. On a more positive note, good luck on your adventures Mr. Davis.
I was very disappointed with the "speech". While I made this trip worthwhile as a mini vacation, it was, to say the least, very unorganized. While I was not really sure what this event was actually was supposed to be, I had looked forward to seeing the "team". He started at 11 and I left at 2:15, can someone else tell me how much longer he did speak? When I left, they were getting ready to take pictures of someone for each state. I just hope he is more organized before he does anything else again. I also agree that maybe he needs to refund some money. That was a very expensive roll and cup of orange juice that I got for breakfast!!!
stevetexas, I am just curious to your post. I am reading this post as to think that you expected this to happen. Can you elaborate or am I just reading it wrong?
Like you, I turned this into a mini vacation as well. That alone was awesome! I wanted to visit Charleston anyway (never been there) and when I heard about the speech I just adjusted my schedule accordingly.
Frankly I'm flabbergasted by some of the comments here but at the same time, not surprised. Richard was selling his vision for Trademark. As with anything in sales, you first have to sell yourself which is exactly what he was doing. So some think he was all over the place? Well, that's just a style thing, his style. Uncut and unedited. You hear what you want to hear I suppose and just block out the rest for some. Others go with the flow and listen! And for those of us that did listen, we heard plenty!
I have no illusions about becoming an area partner but I'm open to it! As with anything else, if it's not a win-win then there isn't the possibility of a deal. It's as simple as that. It's a process or a journey if you will for both parties to see if there's a there, there. This was the first step in that process. Richard laid it out and you and I went to hear it.
I must admit Richard Davis was right, his presentation was not what I had expected. My initial response to the whole event experience was quite negative. I felt "used" for a PR event and disappointed by the lack of information provided for the effort we all put forth to be in attendance.
A little time has worn off the edges a little for me to where I can accept this event as proof positive that Richard Davis and his team are what they say they are; Real Estate Pros. They're definitely not event planners, seminar gurus, franchisors or business brokers.
After shaking off my irritation, I have found myself hopeful that the email information promised will, in fact, fill in the huge gaps of unanswered questions about this opportunity to "Partner" with Trademark.
I have been in the retail real estate business for nine years and a lot of what Richard said about the problems in our industry and the mechanics of most brokerages are absolutely true.
Richard Davis showed me he is "real" (and a bit cocky) on Friday. Now I'll be interested to see the business opportunity presented clearly.
You guys are so ridiculous and disrespectful!! For God's sake, give Richard credit for his first presentation. Anyone's "first time" is never perfect. It's true they should have had a professional/event planner but I'm sure next time they will if they ever do this again. Apparently some of you sorry ass pessimistic "gold diggers" just don't get it; you were not LISTENING to what Richard's intentions are and you certainly didn't take it to heart. You can only think the worse of everything. Get real!!!
Time and effort takes success, so stay out of our way, we're rolling this thing out!! Step by step, state by state. No jumps as you expected!!!
My husband and I drove from Lex KY and were hugely disappointed with the event. We were so aggravated by the time we reach the top of the steps waiting to enter the doors to the auditorium. "Breakfast" was a huge let down, we couldn't make our way through the crowd to even find it and did not want to push our way through a bunch of people. Once the doors were opened and we realized their system of obtaining your "ticket", nothing more than a name tag, we were ready to leave. If it wasn't for the money we had already spent along with the time we invested into this event, we would have walked out. It was completely ridiculous to obtain a name tag, for what purpose I don't know, they should have just let us show our receipt of purchase. To beat all they didn't even have the state of KY sign but offered to hand write a make shift sign????? Trademark employees knew once the saw the massive crowd of people how disorganized they truly were, in my opinion they should have skipped the nametags and state signs and just let everyone walk on back to their seats at that point. Once again we waited, round 4, in our seats for everyone to get their "tickets" and be seated, but at this point we were glad to just be able to have a place to sit even though once again we contemplated on leaving. Both my husband and I were feeling ill, having nothing to eat, needless to say by 3:30-4:00 when we got out of there we were at each other's throat's and very agitated. There was not a person around us that commented on how poorly the event was organized, and Trademark knew how many tickets were sold so that is not an excuse. I agree with the comments on this board, Richard skipped topics, repeated himself constantly and what was said could have been done in half the time, and there was no true message, however in his defense he did say he is not a speaker but that was AFTER he sold tickets. Our purpose for going was to see what an area partner would be about as well as hope to gain some influential message to learn something. We will not be pursuing an area partnership and we left with no true message of inspiration. The night before, we purchased shirts, etc. at the retail shop, and had absolutely no desire to sport our attire after the event. Yes, I have lost some respect for Trademark, I still remain a fan but the excitement is somewhat gone and has left a bad taste in my mouth. I was so excited to meet them but at the end of the event, while taking our state photo, I could have cared less. My enthusiasm was gone and I was just ready to leave and did not have the energy nor care to shake their hand or even get a individual photo. The staff commented on several occassions they were still doing last minute preparations, ok that's entertaining on the tv show, but not cute at all when you have hundreds of people waiting on you when this event has been planned for months. I know Richard will succeed in his 13 month journey of setting up 50 states, however I think less than 10 percent of them will actually be successful offices simply because Richard has way too much on his plate as he has proven that to all that attended. Richard will surely get some hate mail over this and I truly think he'll lose some fans. One thing I do agree with, is that Richard did leave some loose ends after the event. In other words, he's waiting to see who has the persistance to take it upon themselves to mail their questionnaire in, show up at his office for an interview, and prove their determination in getting their foot in the door. He is not going to tell people what the next step is, it's a test of determination.
I am not going to disagree with all the dissapointed posts because you all are entitled to your opinions. But I was really impressed with Richard's speech. It kind of reinforced that these guys are the real deal. Everyone was very professional and friendly. Sure the ticket lines could have been organized a little better, but I don't think anyone missed anything. As a South Carolina Realtor I will have to agree with everything he was saying was wrong with the majority of the brokerages in the state. I look forward to having the opportunity to inteview with Richard soon!
Great dialog going here, it's interesting to see the different points of view. LexingtonGirl, after I made my first couple of posts I met another couple who informed me that there was a card board box being used to collect the information sheets that were passed out. I didn't see this myself, so I wonder how many others missed it? Regarding all the things wrong with the current real estate brokers, I must have missed it because I don't remember Richard specifically addressing any of these issues. Can someone refresh my memory? I do remember him saying there were a lot of holes in the old business model, but I don't recall him saying what they were or how his model was different. Finally, as I was reflecting on the speech, I remembered Richard saying that his system works just as well in a "down market" as an "up market" which makes me wonder why there are only 10 areas he seems to think are ideal for partnership right now. Any ideas?
Nittanylion, the "box" never made its way to me. Yes, he did address problems with other brokerages. Not in depth though, just enough to leave you wanting more. I can identifiy with Richard points for sure. Actually, I started out my career in Moscow, Russia Federation and now own a brokerage here in the states. Most of Richards points not only apply to the local Charleston market, but also as far away as Moscow. Common problems everywhere I would guess. I believe Richard planned the event just as it went down. As another already mentioned, he want you in his office if you are serious. Regaurdless, I don't appreciate being tugged around. I feel horrible with my posts; I feel as if i'm only here bashing him. No, I am still a fan. Just a currenly unhappy one. O-well, I'm over it now. On my way home, I jokingly asked my brother-inlaw if he had anything interesting to say. I just though it would be nice to charge 2,500 folks even just $20 to hear my random thoughts at my local civi center.
I travel to Charleston several times a year and unfortunately was not able to make it to the presentation on Friday. It sounds like I really didn't miss too much detail which is the only reason I would've went. It sounds like my decision to request a meeting with TMP representatives when I'm in Charleston in the next couple of weeks was the better move. What's the deal with the book? Did he say when more details would be announced? What about the 10 partners, when would those be announced?
Are they looking for real estate agents or investors that have experience flipping properties and developing properties?
greg98 - Trademark is looking for partners that can handle the responsibilities as Richard does with multi levels of real estate, including flips, residential, investment, commercial, relocation, etc. These partners will create their own team with people specializing in the above areas and much more, thus creating a full service brokerage. The flips come into play creating a checks and balance system of acquistion and disposal. My understanding is that those who did not attend will not be considered as a partner, you had to be there. Am I correct on this anyone? Also, just because someone is not chosen as a partner, does not mean they cannot be a part of the team as there will be many positions to fill.
I spoke in person with a representative at TMP and she said that if you don't attend the meeting it does not preclude you from being considered as a partner. I will find out more during my meeting with them in a few weeks.
Greg98gts - That is my understanding as well. Like you, I could not attend due to prior commitments. I received a letter about the area partners and the speech. The only thing I noted was that Richard said he would pick the first 10 area partners from those who were at his speech.
My guess is that they will be picking those who have the greatest chance of success. I should say that is what I would do (as well as those with the recources to pay the franchise fee(s)). How else will you create franchise value?
seculp - Saying the first 10 would be picked from the speach made me think that those 10 were already picked or it was just a hype generator. After all who is going to sue TMP if 10 weren't picked? I read how people complained about spending $1000 to get there. $1000 is nothing in Richard's world. I'm sure the franchise fees are going to be over 100 thou. I don't buy into hype.
I guess I just don't get the advantage of giving Trademark a bunch of money to open a real estate office over just doing it on your own in your hometown or even franchising with Prudential or one of the reputable real estate companies.
My experience with franchising is that your biggest advantage is the national advertising and name recognition that these companies give you. Trademark has nothing but a schlocky show that demonstrates their unprofessionalism in dealing with customers, contractors, and their own employees. Any reasonable potential customer would run like the wind upon seeing a property with their sign out in front.
I guess with this whole deal is the ol' PT Barnum quote... "There's one born every minute"...
one other thing, I hope most viewers realize that the kind of guy that makes such a big deal out of how successful he or his company is usually is not that successful (ie, a big spender with other peoples money). The ones that really do make a lot of money usually don't brag about it so much. Just something to think about when your writing out your check.
"98gts" are you implying that because $1000 is nothing in Richard's world, that people shouldn't be concerned about spending that amount and not really gaining any useful information? What I am realizing is that my expectations were just to high. There was never any promises made specifically outlining what to expect from the meeting. I took the chance of my own free will, and will take it for what it was worth.
No, that's not what I'm implying at all. One of the reasons I saved $1000 on travel and tickets is becuase they weren't giving any details about what the event was going to entail. I think there was some misrepresentation, however, as you mentioned, there were no promises made. They did a nice job of hyping the event and took advantage of their relatively new found fame. Once your on TV, it's like a whole other world. I'm on TV locally and people definitely hold me in mucher higher regard.
Remember the saying, "If you can't take the heat, you should get out of the kitchen". Flipping houses and Real Estate Sales is a tough business. If you couldn't deal with a little bit of waiting and not having your bagel on time, how can you deal with the Real Estate Industry as your career? I enjoyed the presentation and I was relieved that Richard Davis spoke from the heart and not from some pre-scripted speech. How can anyone expect him to reveal everything about his plan when he has so many competitors copy-catting him? He is a smart man with a great vision. If you can't see it then it is better you back out now.
I tallied up that I spent probably about $600 to go to this speech not including other things like eating, fun things, etc. This also does not include two days of lost work getting down there and then being at the speech. I like Richard but after getting there at 8:15 and then he does not even start until 11, I was already a little irritated. However, I still had an open mind, but after listening to him constantly repeating himself, I had basically lost interest. They should have dropped the breakfast, opened the doors earlier for registration, had real tickets or let us print them at home, and cut his speech in half. Of course he could have also done graphics, etc. Hindsite is 20/20 but unfortunately what he has done will be at the expense of others. While I am still interested in what comes of this whole thing, I have pretty much determined that I am not interested in the partner concept. I think I would rather stick with something like REMAX that is proven than take a chance on something that is still being developed.
I basically went to see Trademark Properties because, I am a fan. Flipping properties is something that I will eventually do after I overcome a few financial hurdles. It was exciting to actually see Richard Davis and his team in person, because I truly admire them. Having said that, I was a little disappointed in the way things went down at the speech, (registration mostly) but I give them the benefit of the doubt--this was there first time doing this, and they are not actors. Alot of people said his speech was all over the place, which I think would mainly be due to nervousness. You should expect to see some nervousness from these people-come on. There is a big difference in being in front of a camera crew doing what you do everyday, and being in front of 2500 people with expectations beyond belief. Cost wise it was not that bad for me, living in Myrtle Beach. I only had to drive 2 hours tops. All in all, I am glad that I got to see Trademark Properties up close.
Bottom line, as someone already eluded to. Richard is great at what he does, but he is a dime a dozen. He does in a sense no different than what thousands and thousands of people around the world do. Only difference, the other folks didn’t have a tv show to glorify their actions. I had no real intentions of becoming a partner because I’m very happy with the way my brokerage is set up. My reason for going was to hear what Richard was going to put on the table. The very day you get to the point in your career where you say I know it all and I don’t want to hear others thoughts is the very day you future successes begin to diminish. Richard had one chance to sell to me. I’m not following him around like a needy puppy dog. As Richard stated, its not brain surgery. Here we go, if you interviewed with Richard and he granted you an area partnership then you must have some realestate since. With that said, If he thinks your competent to run one of his offices then you are competent to run your own office. Why pay him a franchise fee along with future profits. I’m guessing many of you are enthusiastic about “house flipping” as everyone else in this country is. Well, you should have been in the market before 2001 when all the house flipping came on tv. Now everyone’s grandmother is doing it. Prior 2001, show up to auction block and you compete with 15 for property. Now your competing with 215 people. These inexperienced folks drive the high bid 15k below market value. So if you want to “flip houses” like everyone else be creative on how you obtain your houses. No I’m not talking about getting homes through bankrupt or realestate attorneys. I’m not sharing my secrete, but think long and hard. There are many ways to do this. IMO, the “flipping shows” have been disastrous to the trade. I have 35 yearold women calling my brokerage everyday looking for a house they can “flip”. ???? 35 year old house wife who doesn’t know the difference between a philips and flathead driver. OK, my rant is over and done with.
I am so surprised at some of the comments here. Those who feel this was a good way to "weed out" those that aren't "up for it." I have been a professional sales person for 22 years, the last 4 in Real Estate and the previous in Fortune 500s. I can not imagine ANY industry in which there are NO expectations of possible business associates. I have been a HUGE fan of Richards, and still appreciate what he does and how he manages his business, BUT, I was disappointed yet, glad I found out now, with his lack of organization in this whole event. I can't imagine going on a listing presentation or sales call, being TOTALLY unorganized, and STILL getting another chance. I say, if I don't heed the red flags of joining in "partnership" with someone who demonstrates that he doesn't know when to call in the experts, when to let others direct where he is inexperienced, then shame on me. I am not as concerned with the lack of "flashy presentation," but was concerned with the fact that he lacked the ability to see his own limitations. So, if having high expectations from someone you are about to hand a bunch of cash to, is a good way to "weed out those who aren't serious," maybe it is us who are REALLY serious when it comes to partnership, and I question those who follow without high or even medium, (neither which was demonstrated) expectations. If this is how TMP presents PRIOR to getting my money, how will they present AFTER getting my money??? I will still watch Richard and his crew, I just love the way they run the show (Realestate AND the TV) and will continue to be a big fan!
I'm having a real hard time believing that those here that keep talking about a "franchise fee", or "handing over cash to Richard" even went to the event
I am a big fan of Richard and the show, but please that was grueling! The event was a joke. It was a publicity stunt for the showw. Get as many bodies in the auditorium so it looks good for the camera. My partner asked me what I found out and I could not find the words, I said Charleston was nice. I went there with idea of becoming an Area Partner but it's never going to happen. I buy and sell real estate in Florida; we are a realtor, builder and developer and are liquid. I thought we may have been able to do something with Trademark. You know it's wierd that there is no reference to the Area Partners meeting or anything on Trademark's website. No email thanking all for attending, nothing. I guess we just are not that important. Anyway, good luck to everyone, real estate changed my life and I hope it does yours.
It really baffles me to think that most of yall make your decision about Richard's roll out of his business, by simply judging his performance in something that he has never done. He told everyone that it was the first time giving a speech and hosting a speech. Take a lesson from his show "give people the benefit of the doubt"! It seems that it would be obvious that he runs his brokerage with a much better plan than the speech showed. He didn't bluff his way to being number 1 in the Charleston area.
Number 1 in the Charleston area? How do you know that? Is it because Davis says so? I live in Charleston and I gotta tell you, I don't see how he's coming up with the idea that he's number one, except in his own mind. There are hundreds of properties on the market here and the TMP for sale signs are very few and far between. Based on that, I'd say he's pretty much at the bottom. Also, the Beach Company, which I have dealt with on several occasions in the past 5 years, is way, way, way bigger than TMP, in every aspect of the reality business. Beach is bar-none the "big boys on the block", esp. in commercial real estate and condo sales, here in Charleston. If you want to talk residential, then I'd say Prudential Carolina and then probably Remax. Both of them have many, many more agents, listings, offices etc...
It just kills me that when he's caught in a falsehood on his show fans say "oh.. that's just to make for good drama/tv", but then other statements are taken as fact. IMHO, if you lie/misrepresent facts about one thing, then everything else you say is suspect.
Originally posted by wobegondayz: Number 1 in the Charleston area? How do you know that? Is it because Davis says so? I live in Charleston and I gotta tell you, I don't see how he's coming up with the idea that he's number one, except in his own mind. There are hundreds of properties on the market here and the TMP for sale signs are very few and far between. Based on that, I'd say he's pretty much at the bottom. Also, the Beach Company, which I have dealt with on several occasions in the past 5 years, is way, way, way bigger than TMP, in every aspect of the reality business. Beach is bar-none the "big boys on the block", esp. in commercial real estate and condo sales, here in Charleston. If you want to talk residential, then I'd say Prudential Carolina and then probably Remax. Both of them have many, many more agents, listings, offices etc...
It just kills me that when he's caught in a falsehood on his show fans say "oh.. that's just to make for good drama/tv", but then other statements are taken as fact. IMHO, if you lie/misrepresent facts about one thing, then everything else you say is suspect.
I can tell you that I was suprised when we came to Charleston this past week I saw no sign's and no advertisement in the real estate mags. But apparently that doesn't mean anything. According to the MLS {which is a public record anyone can look it up don't take my word or Richards word} they are the number 1 real estate company in Charleston.
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The reason why I say Trademark is number 1 is because the info he showed on the screen at the speech was direct from the m.l.s. The other companies you mentioned are very good as well, I know this because their name is directly below Trademark. Don't hate until you investigate!
What MLS document did you see at the convention? I was a few rows back and couldn't see a single word on the document that was projected on the screen as the print was too small. Was there a hand out I missed?
"Don't hate till you investigate"...I like that! :-)
Wow....Based on what I'm reading here our friend Richard is either totally embarrassed by your comments or letting the water (your anger and disappointment) roll off his back.
I didn't go..I wanted to but could not. Now, after reading all of your comments I glad I didn't go. But I wish I could offer my thoughts and impressions if I had.
I think Richard and crew have heard about your feedback and are truly regretful for their lack of preparation and execution.
I think they were totally awestruck from the tremendous interest we all have in this company and staff and they were not ready to handle all of you guys. That doesn't make it okay, but it obviously happened.
You have to think Richard is hating that so many of you were disappointed. He didn't want that to happen. This was suppose to be a great event, but reality hit the fan.
My guess (and hope) is that the TMP staff will address your comments and unanswered questions on the TMP website very soon. I'll be checking it daily to see if I am correct.
Thanks to everyone that has posted. I too, am still a big fan.
My guess (and hope) is that the TMP staff will address your comments and unanswered questions on the TMP website very soon. I'll be checking it daily to see if I am correct.
Thanks to everyone that has posted. I too, am still a big fan.
They already have they have sent emails to those who attended.
Wasn't "hating" on anyone. Just making observations. I do believe that the number of listings and "signs out front" does mean diddly.. but maybe thats just me. Also, I just don't see how it's possible to close on as many properties per month as TMP says they do with the manpower available (not sure, but I think I heard the claim of 2200 or 2500 closings per month. That's the number that stuck in my head, but I very well could be wrong). There's a lot of time involved (just sitting there at the closing twiddling your thumbs while the lawyer talks) even for just the real estate agent.
I would love for someone to post the link to the mls that shows rankings of real estate companies in the area. All I've ever found is the listings of houses themselves. It would be interesting to see the criteria for ranking. ie, are you number one that day, month, year to date... is it number of listing sold, dollar volume, etc. I can see about a hundred different types of rankings available. Seriously, if it is public information and you have found it, please post the link. I'm sure all of us would like to take a look.
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I expected TMP to put their best foot forward for this big occasion and felt that they fell a tad short of blowing me away. Obviously the ticket part was pretty bad, but event planning is not what they do best, so we have to give them some room on that one.
I think that Richard had the potential to deliver a speech that would blow everyone away, but his lack of preparation took away from the impact of what he had to say. His message got lost in his rambles. I didn't walk away from the event feeling like I need to be a part of TMP to do what they do or to be the best. I can just as easily do it myself and not pay them franchise fees in the mean time.
I did not know what to expect from the event, but don't feel like the company as a whole is ready to handle being nation wide.
I'm still a fan, I'm just not sold on any aspect of Trademark at this point and I thought I'd at least get that from the event.
If I haven’t gotten back to you yet, please forgive me! We have been overwhelmed with emails. I just wanted to send this letter out from Richard with the Questionnaire that most of you have already filled out. If for some reason you did not turn one in, please see the below version and email to me (Ginger)!
Thanks again and check your email this week!
Ginger Alexander, Investment Coordinator
Trademark Properties, Inc.
Charleston, SC
“Flip this House” A&E
“The Real Deal” TLC,
First of all, I want to personally thank you all for coming to a very momentous day in the history of the Real Estate business. We are about to turn the world on its ear from how our business has been one on a national, then international level. I hope you will take this questionnaire VERY seriously and answer very openly and honestly. [] I started this company to end up with 2 goals when I took it Nationwide....To win "THE BEST COMPANIES IN AMERICA TO WORK FOR" (WITH IN MY BOOK) and to achieve the HOTTEST GROWTH COMPANY as far as Company and partner profitability in successfully rolling out offices nationwide.
Thanks for being a part of a great day; I assure that you will remember this day the rest of your life!
Richard
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I think some of you missed the messaging that Richard delivered in Charleston. It was easy to miss, so your knee jerk reactions of disappoint are evidence of the miss.
Richard never indicated that he was franchising. He mentioned he was considering it, and he looked at some models that he liked but he wasn't offering franchises. Even if he did offer a franchise it would probably be more like Chick-fil-A where you are required to be an active owner, not an absentee multi-unit owner.
Richard's approach to real estate is very different from what you see today. I actually looked for signs, ads, listings, etc. in the Charleston area, and also didn't find very many, which only furthered my understanding. He never worked in retail real estate. Think acquisition and disposition. Don't think listing agent, buyer's agent. Think $100M to invest. What if you could go out and buy $100M of real estate in your market, boost the price and resell it? How many agents would it really take?
How much to sell it today? How many times have you heard that on the show? If you could make 10% per month would that be a good investment? How about 10% per week?
Richard's company is a combination real estate brokerage and real estate investment company. His comment about single family homes not being long term investments should have started you down a path of interest, especially since almost everyone else is probably telling you that single family homes are the place to be. His background in finance and real estate appraisal should have started to pull the pieces together and then the black box by Stasmayer should have completed the loop.
I'm personally very interested in hearing more about how Richard picks stocks, I mean houses. My guess is he's probably one of the most successful day traders out there and as soon as he opens the world's eyes to the approach it will never be the same again.
I think I'm also the only person that actually handed Richard my questionnaire at the event. Not that it will make a difference but we all see what we want to see.
Re: "His comment about single family homes not being long term investments should have started you down a path of interest, especially since almost everyone else is probably telling you that single family homes are the place to be"
That alone was worth the $1,000 I spent because I was seriously thinking about doing exactly that
Maybe you missed what Richard was indicating. He very clearly said "I'm a man of my word, I said I would pick 10 people out of todays audiance and thats just what I'm going to do". And many other times he mentioned that all partners will follow his model. He made a promise to everyone there that within 13 months he would be in all 50 states.
ivan - You're still missing it because you're only hearing what you want to hear.
The initial 10 are going to be filmed as part of the show. That does not mean franchise. The survey even asks what does the word franchise and partner mean to you. He said he would have a partner in every state within 13 months. Not a franchise in every state. That doesn’t mean he won’t establish a franchise model but he has not indicated commitment to that model
At the event he asked everyone that was currently in real estate to raise their hand. There were very few. My guess is his model (house picking) does not rely on an in depth knowledge of the real estate business. It's more about knowing your area and being able to validate that the picks the software makes are in good areas, that upon inspection of the property there aren't any situations that require major cost adjustments and being able to develop and manage sub-contractor relationships.
If you remember one show they did the property was about 3 hours from Charleston. They struggled because they were outside their area of influence. That is why they aren’t just trying to do it themselves. They know the model works, and they know there are many properties outside their area to work with. So what's the best way to get to those properties most efficiently and effectively?
If Richard can establish a single presence in each state, equivalent to what he has now, that could grow his revenue to $5 billion. Two in each state would be $10 billion, etc. That would put him on par with all the major residential brokerages but with much less overhead. His approach is much more efficient than a traditional retail broker, which relies on multiple competing resources to capture the majority of the market share. Richard's model is more like an assembly line, efficiently capturing market share.
[QUOTE]Originally posted by nyray: ivan - You're still missing it because you're only hearing what you want to hear.
The initial 10 are going to be filmed as part of the show. That does not mean franchise. The survey even asks what does the word franchise and partner mean to you. He said he would have a partner in every state within 13 months. Not a franchise in every state. That doesn’t mean he won’t establish a franchise model but he has not indicated commitment to that model.
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Bingo, finally someone who listened. It amazes me that people have twisted everything Richard said.
No one has twisted anything, maybe your right about him not promising franchises. Very well, that’s not why ANYONE is upset. Folks here are upset because he accomplished absolutely nothing at his speech. $45 ticket is nothing, $200 hotel is nothing, $450 on Delta is nothing, but our time and the principle here is. Many people traveled from all around to hear him ramble about nothing. Let’s say that you had every intention on partnering up with him, what if anything did you get out of the speech? Scratch the whole franchise term then and let us use the term partnership. Please tell us all what information you got in Charleston about partnerships.
ivan - Those that are upset are so because of their own perceptions and anticipation about what they wanted to hear at the event. Not what was advertised.
The event was specifically advertised as a motivational speech, nothing more.
"Learn how YOU can become a part of the Trademark Team as they begin their national rollout” Don’t read in to it more than there is. They delivered on this one - You could be lucky enough to be chosen as one of the first ten because you attended, or you can stay tuned to get more details.
In the letter I received Richard indicated, "This will be the first time I will be speaking publicly about the System and our plans for rolling out. It will be your best opportunity to meet the team and see how you might fit in." No promises of further details (you should have made a mental note about the use of the word System), just another comment, "...I want to make sure that we start off with a solid foundation by choosing from those who refuse to let inconvenience get in the way of success."
I went to the event hoping that I would get a better understanding of how Richard does what he does. He provided a wealth of information if you listened and analyzed it. He did answer one question directly for me, which was how he was able to finance the flips on the show. Once he mentioned the hedge fund the rest just fell into place for me.
I could be totally wrong.
Everyone is entitled to their feelings and expectations. I'm just trying to help rationalize that the frustration is because you went in hoping for more, and when it wasn't provided you reacted negatively, which is an emotional reaction.
I just had a similar situation with my daughter. She wants an Apple laptop for college. I know she wants it because it's an Apple, and it'll be cool, and different, and that’s okay. I want to get it for her because of all those reasons too. But we got into a heated discussion because she wanted to argue about needing something reliable in defense of her desire for the Apple. I showed her I could get her a brand new, reliable laptop for $400. She started crying. Her expectation was for the Apple, not really for something reliable. Lucky for me she's a smart kid and figured it out after her emotions passed. She still wants the Apple but she's willing to go with the $400 laptop until I can get the Apple.
We all want the Apple from Richard, but there are still quite a few details that need to be revealed. I don't disagree with anyone on that point. And once they're revealed, who knows, you may not want it anymore based on how it's structured, we just don't know yet.
Let the emotions pass, figure out what you really want and work towards it.
As with anything else, if it's not a win-win then there isn't the possibility of a deal. It's as simple as that. It's a process or a journey if you will for both parties to see if there's a there, there. This was the first step in that process. Richard laid it out and you and I went to hear it.
