All of my Real Estate Philosopher articles over the years have been dedicated to provide, promote, and provoke outside the mainstream thinking dedicated to helping real estate players succeed in the competitive and ever-changing real estate world.  Most of the articles are devoted to competitive advantages, asset classes, and creative angles pertaining to real estate.  But an elephant in the room that is possibly bigger than all of that is an assessment of the people you interact with along the way.  Let me delve here into why I have given this article its enigmatic title…

After over 40 years in the business, I have learned a thing or two, and that is that the qualities – or non-qualities – of those with whom you interact are often more likely to affect outcomes than the actual transactions and businesses themselves.

As a law firm chairman, I have learned that one superstar lawyer is worth ten – or more than ten – average lawyers.  Clients love the superstars and don’t really notice the others.

Also, as a former law firm managing partner, I have also seen that a lawyer with character deficiencies wreaks more havoc than just about anything else, including slowdowns in business or even lawsuits.

Applying this to the real estate world, maybe quotably:

          A good teammate can turn a bad deal good

          or maybe

          A bad teammate can turn a good deal bad

Okay, those aren’t the most exciting quotes, but let me continue, starting with Rats first and moving onto Quiet Rock Stars second.

I note that my kids had pet rats - named after great Japanese swordsmen – but for this article, I will use Rats as a metaphor for bad people.  There are various kinds of Rats.  If you are lucky, you know a Rat when you see him and before you end up doing business with him, but some warning signs that you may have a Rat on your hands include the following:

Dishonest People:  Even a white lie that is over-embellishing the smallest fact is a major red flag guiding you to exit the track.  There is an old saying:

          A man who will steal a chicken will steal a horse.  

I have never – ever – even once, interacted with a person who did a small dishonest thing once, who didn’t end up doing something more dishonest later.  Dishonest people are to be avoided at all costs.

By the way, if you are one of those Dishonest people reading this, I will suggest to you that you are fooling a lot fewer people than you think you are.

Crazy People: These parties may be well-meaning, and even really nice people, but they are just not playing in the same reality as you are.  You are consistently puzzled by their actions.  Sadly, these Crazy People should be avoided as, sooner or later, you will run into trouble one way or another.  And, worse yet, the trouble is impossible to foresee, as it is trouble that just doesn’t make sense, so you can’t predict it.

A**holes: Then there are what could be called A**holes.  These are obnoxious people that seem to enjoy conflict.  You might think I would say to avoid these people and you are (partially) right, as generally, it is not a good idea to go head to head with them as, to use another quote:

          Never wrestle with a pig.  You just get dirty, and besides, the pig likes it!  

But sometimes an A**hole could be Your A**hole, so to speak.  And harnessing such a person on your team could be very effective.  If the A**hole is honest and not Dishonest or Crazy, you could do business with such a party, albeit warily.

Okay, so much for Rats.  Now, let’s turn to Quiet Rock Stars.

Quiet Rock Stars are rare creatures, and they are often hard to see even when they are right in front of view, but these are the most wonderful people to work for, to work with, or to have in your ambit.

We all know a Rock Star when we see one.  She is killing it and everyone knows it.  But a Quiet Rock Star sounds like an oxymoron, doesn’t it?  Since the whole point of being a Rock Star is that everyone is cheering for you.

Quiet Rock Stars just get it done.  They are delighted with the outcomes.  They are pleased when their teammates crush it and get the credit.  For them, it is about the results more than their egos.

When you see a real estate company with a long-term successful track record, it is not necessarily Toby Jones – the CEO – who is responsible even if he gets the credit.

Sometimes it is the Tobina, working quietly in the shadows, who just makes everything work right.

I have only known a few Quiet Rock Stars in my career.  And these are the ones who I love:

  • Working With
  • Taking Direction From
  • Learning from
  • Just hanging out with

They have enriched my career and I have learned to recognize these people and give them my utmost respect.  

…

So, there you have it – Rats and Quiet Rock Stars.  

…

As I think back on my career, it has been a blessing that I have (mostly) avoided Rats and been blessed to have some Quiet Rock Stars in my real estate world.

I admit that a lot of the foregoing was lucky for me.  Maybe for you, if you are at an earlier point in your career, you can use what I have learned to foster your success.

I wish everyone in real estate the best.

Bruce Stachenfeld aka The Real Estate Philosopher™