Book Review of Real Estate the Rome Way

Real Estate the Rome Way is not your average, ordinary, run-of-the-mill "how to become a real estate agent" book. In part, that's because author, Margaret Rome, is an accomplished top-producing agent from Baltimore, Maryland, with decades of experience, not a top-level manager or seminar speaker. Rome tells readers exactly how she became successful.

Some "getting started" real estate career books quote inspirational and motivational sources, and weave magical tales about vast, untold amounts of wealth and riches waiting to fall at your feet the minute you get a real estate license. Rome is real. She takes a real-world approach to everyday problems. Rome relied on her intuition and natural ability to tell right from wrong, and applied common sense to unusual situations, which provides her with an abundance of unique stories and insights to share. Her book will benefit newer and veteran agents alike.

Margaret Rome on Getting Started in Real Estate

Rome recalls what it was like to change careers. She traded in a steady paycheck and career as a nurse who cared for children for the chance to work with people of all ages -- some of whom still act like children -- and a not-so-steady paycheck.

She developed systems to keep from being pulled in all directions, and she attributes her success to following simple principles such as paying attention to W-I-N: What's Important Now. But she's also made sacrifices by working weekends and evenings and doesn't subscribe to the theory that an agent's life can be perfectly balanced, because it can't.

Type E Personalities in Real Estate

Rome attributes part of her success to the fact she's a "Type E personality." Alex Giorgio founded the concept of Type E personalities. Giorgio describes Type Es as people who possess enormous amounts of creativity and passion, and who are typically pioneers in their fields. If you think you might be a Type E, here is a free Type E quiz.

Type E Personalities are divided into 3 categories:

• Type E Manager

  This type of person is a practical visionary who welcomes risk.

• Type E Translator

  This type of person can think and communicate in two distinct styles.

• Type E Mystic

  This type of person sees the big future and is ahead of the curve.

I took the test and there might be some truth to it because I am definitely a Type E Translator.

Dealing With Inexperience in Real Estate

Many new agents have a fear to overcome, and that fear is how to explain to clients that they have no experience. Some agents compensate for that lack of experience by, oh, let's say, stretching the truth. Others are aggressive and don't answer the question. Rome, on the other hand, faced the no-experience fear head-on.

She was honest. She came up with brilliant reasons as to why the seller should list with her. She spun the negative into a positive by telling the client -- a family friend -- that he already knew she could sell. Since he would be her only listing, she would concentrate solely on him and spend all her advertising dollars on him. Plus, she added the company wanted to see her succeed and would help her. She didn't take no for an answer, and she got the listing.

The Key to Handling Challenges in Real Estate

If I had to single out one aspect of Margaret Rome's book that really impressed me, I'd say it was her examples of how to think creatively. The biggest mistake real estate agents make is trying to follow a formula instead of looking inside themselves to find creative answers.

For example, I worked with a Sacramento buyer who forgot to transfer funds into her checking account to cover a deposit check. The purchase contract specified funds had to in escrow on a Monday. By Friday, we discovered the check had bounced. The listing agent threatened to put the home back on the market that weekend unless funds were deposited, and the escrow company was in Los Angeles.

I told the buyer to wire funds from her bank. But by wire-transfer deadline, the funds were not received by escrow because a bank employee received management approval too late. I asked the bank to hand-draw a cashier's check in LA and walk it over to the escrow. Escrow refused to accept it because its banking person had gone home.

Since we had the wiring information for escrow's bank account, I then suggested the branch bank in LA send a courier to the escrow company's bank. When that didn't pan out, I quickly had the buyer release her contingencies and sent that to the listing agent, explaining that if she wanted to put the home back on the market, she was free to do so, but she would have the wire transfer on Monday. The agent held off and the buyer's funds were received on Monday.

Weintraub's Rating for Real Estate the Rome Way

I can recognize Margaret Rome's mental approach to real estate because I practice the same way. I give this book a 10 on a scale of 1 to 10. Even if you're not thinking about becoming a real estate agent but want to read the inside scoop about real estate deals, you'll find this book intriguing and interesting.

Buy Real Estate the Rome Way, by Margaret Rome

Real Estate the Rome Way © 2008 by Margaret Rome, published by The Silloway Press, paperback, 189 pages.

_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}