The real estate business is a business of bringing buyers and sellers together to an acceptable agreement through effective negotiation.
It is possible for the buyer, who has a specific goal to purchase property with terms acceptable to him, AND for the seller, who has a specific goal to sell property with terms acceptable to him, to BOTH accomplish their goal... in other words...for it to be a win - win for both parties.
It is NOT about one side of the transaction "winning" at the expense of the other.
You, as the agent, can be an advocate for your client, fulfilling your fiduciary duties, without becoming an adversary to the other side of the transaction.
During a transaction, the Real estate PROFESSIONALS move from negotiation to cooperation. They do this so the big why of the buyer to buy and the big why of the seller to sell remain the primary focus and each of their clients end up "winning".
Tuesday, March 30, 2010
Thursday, March 18, 2010
LESSONS I'VE LEARNED: COMMUNICATOR...NOT THE DECISION MAKER
Many real estate agents take it upon themselves to make decisions for their clients.
You may have been in a transaction and had the other agent say to you "Don't even bother bringing that offer" or "There is no way my client is going to make that repair" without speaking to and/or checking with their clients. They probably even believe they are being strong negotiators on their client's behalf.
According to Wikipedia, "negotiation is a dialogue intended to resolve disputes, to produce an agreement upon courses of action..."
The responses mentioned above are dialogues that close down communication... not responses that keep the lines of communication between the buyer and seller open.
A goal of a Real Estate Professional is to become your client's trusted real estate advisor.
You do this by guiding, counseling, and educating your clients...by providing useful information based on your client's plans and needs...so your clients are able to make informed decisions.
Again, so your clients are able to make informed decisions.
During all phases of the transaction, from the initial interview to closing, remember you are the communicator...and not the decision maker.
You may have been in a transaction and had the other agent say to you "Don't even bother bringing that offer" or "There is no way my client is going to make that repair" without speaking to and/or checking with their clients. They probably even believe they are being strong negotiators on their client's behalf.
According to Wikipedia, "negotiation is a dialogue intended to resolve disputes, to produce an agreement upon courses of action..."
The responses mentioned above are dialogues that close down communication... not responses that keep the lines of communication between the buyer and seller open.
A goal of a Real Estate Professional is to become your client's trusted real estate advisor.
You do this by guiding, counseling, and educating your clients...by providing useful information based on your client's plans and needs...so your clients are able to make informed decisions.
Again, so your clients are able to make informed decisions.
During all phases of the transaction, from the initial interview to closing, remember you are the communicator...and not the decision maker.
Wednesday, March 10, 2010
TRAGEDY OR INCONVENIENCE?
A child that is diagnosed with terminal cancer... a family that doesn't have the means to put food on their table...or the attacks on 9/11... these are all tragedies !
Finding out you need a private road maintenance agreement, or that there is an easement issue with the property, or the fact that the other agent's clients asked for a $50 dollar repair...( and it doesn't even meet the requirements of a "necessary repair" !!? say it isn't so!! ).... are all examples of an inconvenience...and NOT a tragedy.
Before you create or add drama to what may already be a stressful situation during the transaction, remember the issue is simply an incovenience. According to senior CRS instructor Jackie Leavenworth you should determine what the issue really is, and then respond, not REACT to it.
As a real estate professional, you are responsible for guiding, counseling, and educating your clients during the course of the transaction. When situations arise, as they frequently do, it is your job to resolve the issue, overcome the obstacle, and solve the problem in a professional manner so your clients are able to carry on with the plans that they have made for their family.
Finding out you need a private road maintenance agreement, or that there is an easement issue with the property, or the fact that the other agent's clients asked for a $50 dollar repair...( and it doesn't even meet the requirements of a "necessary repair" !!? say it isn't so!! ).... are all examples of an inconvenience...and NOT a tragedy.
Before you create or add drama to what may already be a stressful situation during the transaction, remember the issue is simply an incovenience. According to senior CRS instructor Jackie Leavenworth you should determine what the issue really is, and then respond, not REACT to it.
As a real estate professional, you are responsible for guiding, counseling, and educating your clients during the course of the transaction. When situations arise, as they frequently do, it is your job to resolve the issue, overcome the obstacle, and solve the problem in a professional manner so your clients are able to carry on with the plans that they have made for their family.
Monday, March 1, 2010
IF I ONLY HAD A HAMMER...
You, as real estate agents, all carry around an imaginary tool box that you use as the need arises.
When you passed the state exam you all got to put your first "tool" (let's call it a hammer) in your tool box. Unfortunately, for many, that "hammer" is still the only tool in their tool kit.
The real estate PROFESSIONAL is ALWAYS looking to add new tools.
The county GIS site, Courthouse Retrieval System, handling a VA, conventional, FHA, or USDA purchase, negotiating with lenders in short sales, just to name a few...each require a special "tool" to properly do the job.
You either need to have that tool in your OWN tool box, or be able to borrow from someone else's. (note: make sure you are borrowing from someone that has some expertise. For example, there is a difference between someone that says they know how to wire a house and a licensed electrician !)
The best way to add tools to your tool box is by current and constant education, and "productive" training.
What you do has the potential to impact people's lives. You have a responsibility to your clients to do your job the absolute best you can.
Be prepared with the proper tool.
As they say, "If the only tool in your tool box is a hammer, then everything looks like a nail."
When you passed the state exam you all got to put your first "tool" (let's call it a hammer) in your tool box. Unfortunately, for many, that "hammer" is still the only tool in their tool kit.
The real estate PROFESSIONAL is ALWAYS looking to add new tools.
The county GIS site, Courthouse Retrieval System, handling a VA, conventional, FHA, or USDA purchase, negotiating with lenders in short sales, just to name a few...each require a special "tool" to properly do the job.
You either need to have that tool in your OWN tool box, or be able to borrow from someone else's. (note: make sure you are borrowing from someone that has some expertise. For example, there is a difference between someone that says they know how to wire a house and a licensed electrician !)
The best way to add tools to your tool box is by current and constant education, and "productive" training.
What you do has the potential to impact people's lives. You have a responsibility to your clients to do your job the absolute best you can.
Be prepared with the proper tool.
As they say, "If the only tool in your tool box is a hammer, then everything looks like a nail."
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