How Real Estate is similar to playing poker. Know when to hold em, know when to fold em!

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Services for Real Estate Pros with Rate A Home

Being a Real Estate Professional is a lot like playing Texas hold'em.  The game can be fast and furious and reap big returns or leave you busted and out of the game.

"Your Rank" is how the general public views your ethics and services.

"Community Cards" would be all the properties available to a buyer.

"The Dealer" is the "buyer" no matter how we look at it.

 "The Best Hand" is the best offer a seller will accept.

"Player's Action" can be considered the file a Professional will develop during the buying process with the client.

"The Betting" comes down to the offer, counter offers and the stake the buyer is willing to bet for obtaining the jack pot they will call home.

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Playing Real Estate Hold'em

The game is controlled by the "Dealer". Real Estate Professionals all compete for a seat at the "Dealers" table to help the "Dealer" navigate the "Community Cards" they will be dealing with. 

In Real Estate Hold'em the best deal is a "Full House" the winning "Hand".  A "Royal Flush" is considered the worse hand the Professional and Dealer could encounter. "Royal Flush" equates to an offer and counter offer that wasn't accepted. End of the game for that "Hand".

A "Pair" isn't good in the fact that the seller is looking at two offers, and "Trips" and "Four of a kind" are even worse.

Holding the "High Card" is where the Real Estate Professional can help the "Dealer" win the "Hand".

The "Ante" is what the Real Estate Professional will provide the "Dealer" in their quest to win a "Full House". Ante's come in the form of services, ethics, marketing, communication and the knowledge to keep all the "Community Cards" from being shuffled and confusing to the "Dealer".

How the Community Cards are dealt:

Hole Houses

After the "Ante" is accepted and posted, the Real Estate Professional and the "Dealer" develop a wish list of "Community Cards" the "Dealer" is looking for. In this game the cards are all layed up right on the table. Then the "Community Cards" the "Dealer" chooses to view are moved into a "Cards" to view file. "Hole Houses" are the initial first round of homes to tour. The "Betting" doesn't start her generally. 

Flop

The "Flop" consists of the "Community Cards" that are discarded during the tours. Keeping a running check list and a ranking system of the "Community Cards" is important to help the "Players Action".

Turn

After the "Flops" have been discarded the "Turn" becomes the "Community Cards" the "Dealer" wishes to focus on with the hopes of achieving a "Full House".

 

River

The "River" is where the "Betting" begins. The "Community Cards" have been narrowed down to one. There is now another player in the game, the seller. The first bet is in the form of an offer by the "Dealer". The seller has the option to accept or move into a "Showdown".

After "Betting" concludes and the seller doesn't accept, the "showdown" occurs.

 

Showdown

After the final "betting" round ends, the "showdown" occurs to determine the winner in Real Estate Hold'em. The player with the best hand wins the pot. Either the "Dealer" has a "Full House" or the seller is left with a "Royal Flush". In this game there are no split pots, its all or nothing. This is where the "Dealer" needs to know when to hold em or know when to fold em.

The "Dealer" displays their cards first. The seller have the option of choosing whether or not to display their "Bet". The sellers "Bet" comes in the form of a counter and usually equates to the "Dealer" having to raise the "Bet". 

If the "Dealer" wins the seller is obligated to pay a small fee charged by the Real Estate Professional , called a "rake". "Rake" is charged as a small percentage of the "Community Card" value.

That's how the game of Real Estate Hold'em is played. The "Dealer" that sits out of the game has no chance of hitting the jack pot. Contact a licensed Real Estate Professional and get in the game and find the winning hand.

 

 

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Show All Comments
Rainer
42,616
The Entire Team of Price & Company Professionals
Price & Company Realty - Myrtle Beach, SC

Wow, you've really detailed every aspect of the "game".  Thanks for sharing.

April 28, 2008 11:13 AM #1
Rainmaker
95,994
Yvette Smith
LONG & FOSTER - Williamsburg, VA
Realtor In Williamsburg VA, Homes for Sale

HEY DUANE!

I like this...great analogy.  Makes it very simple to understand!  Thanks for sharing...

Yvette Smith

Williamsburg's Preferred Realtor!

April 28, 2008 11:54 AM #2
Rainmaker
328,495
Marti Garaughty
garaughty.com - Montreal, QC
a highly caffeinated creative type. The Art of Mar

 Hi Duane, I love your well thought out poker analogy. You hit on so many points, especially true for "The Dealer" is the "buyer" no matter how we look at it"... Absolutely!

April 28, 2008 12:04 PM #3
Rainer
14,875
Rod Rich
Atlanta Communities Real Estate - Atlanta, GA
Atlanta- Associate Broker
Very clever, sometimes it feeels like Wheel Estate.
April 28, 2008 12:12 PM #4
Rainer
295,303
* Rate A Home
Rate A Home - Saugatuck, MI

Christopher, thank you, it was fun to think outside the box and tie the Real Estate buying into a game.

Thanks again for the comment.

April 28, 2008 12:37 PM #5
Rainer
295,303
* Rate A Home
Rate A Home - Saugatuck, MI

Yvette, thank you, glad you enjoyed it. Thanks for taking the time to read and comment.

Hope your day is going well,

Duane

April 28, 2008 12:50 PM #6
Rainmaker
271,033
LaNita Cates
REMAX of Joliet - Joliet, IL
Very good! Learn when to stay and walk away...we all need reminders on that!
April 28, 2008 01:44 PM #7
Rainer
295,303
* Rate A Home
Rate A Home - Saugatuck, MI
Marti, thanks for stopping by and commenting. As long as we never forget who the true "Dealer" is we should be fine.
April 28, 2008 03:13 PM #8
Rainer
295,303
* Rate A Home
Rate A Home - Saugatuck, MI

Rod, I LROL on the "Wheel Estate" Good one! Thanks for stopping by and commenting.

Duane

April 28, 2008 09:12 PM #9
Rainer
295,303
* Rate A Home
Rate A Home - Saugatuck, MI
LaNita, thank you for stopping by and commenting. A good reminder to all.
April 28, 2008 10:29 PM #10
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Rainer
295,303

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