Real Estate Investing

Two Important Tips an Agent Should Know

I’ve been a Realtor for almost six years.  I started in the happy days of real estate – when all you did was sit back and wait for clients to fall into your lap (I still think this is a fictional depiction of those boom days).  Today’s market is a lot tougher, of course.  But in good times and in bad times, two pieces of advice have stayed with me and are true in almost any situation.

  1. kidney-cartoon.gifDon’t get mad at your money.   This is a lot easier to say than do.  What does it mean?  If you’re working with a buyer or seller who is just … well let’s say “unpleasant” … don’t get mad at them.  Stick to the duties you owe them as your client.  Be honest, be fair.  Be informed.  Their behavior is something they have to live with, but once you close the house for them, you’re done.  You can then walk away, but wait and get your paycheck first.  In the future you may not want to include them on your mailing list.  And why wouldn’t I want them on my mailing list?  Because birds of a feather flock together and if THEY were that rude, then it’s likely that any referrals they may give me would also be equally vile so no thanks.
  2. Never let your client be the one to say “NO” to an offer.  Always always always counter if you can. It may feel like a phenomenal waste of time at points, but you don’t want the ball dropped in your court.  Jennifer Fivelsdal of Keller Williams in New York agrees,

Your counter offer will give the potential buyer a clear indication as to whether you are willing to budge on the price. or not.  At this stage your counter offer might be accepted or you might have to do this back and forth a few times.  The key is this, don’t get offended and you might find that you can arrive at an agreement.

Of course we know that sometimes it’s in the best interest of the client to let property go.  For example, once when I placed my business card on a counter and accidentally nudged another card already there, about a thousand baby cockroaches ran out from under it.  Let it go.   When you find something like that, just don’t even make the offer in the first place!  In fact I told my friend/client at that point that if she wanted to make an offer on that horrible place, she’d have to find another agent because I wouldn’t be writing a contract on it.

So hold on to your money and try to hold on to an offer.  Always good advice.

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