This tale might be fictional, but it’s based on several real, local people and events.
On things that actually, really happen around here.
Bill had been turned away from every brokerage in town. No one was willing to sell his house for him.
No agent, whether moral or shady, would touch it.
And it wasn’t because of the property; the home and yard were in great shape.
The problem wasn’t the location. Actually, it was a highly desirable place.
Buyers were searching for a property like his.
Still, no one would list it.
Why? Because Bill insisted on selling it for double its value.
What was worth $300,000 in the local market, he decided he would get $600,000. And he was completely dead serious.
So he left office after office, unable to find the agent who would invest their marketing dollars in such. No one was willing to torpedo their own reputation by listing such an impossibility.
Bill returned to his home and promptly stuck a sign in the yard. If no one would help him, he would do it himself.
Two things can happen at this point, and neither is a good thing.
- Bill could sell the house to an unsuspecting private buyer who doesn’t realize it’s a horrible deal. Because ‘hey, it’s a private sale, so it must be cheaper’. Umm, no. Either the buyers come up with cash for the inflated price and buy something without any promise of equity for years and years and years or, more likely, the bank looks at the deal, and refuses to fund the mortgage. Because paying double is insane.
- Or, most likely, and what happens most of the time, the property sits. And sits. And sits.
Because people aren’t stupid. No one will pay double. Or even 30% more than it’s worth.
Look, if this forewarns you about anything, let it be this.
- Beware: private sales aren’t always on the up and up.
- Buying without an agent to protect you is risky
- And, if you’re selling, for Pete’s sake, remember people aren’t idiots – not buyers, not agents – and be reasonable. People (and banks) will only pay what things are actually, legitimately worth. Anything more is flat out greed.
Have you ever purchased an over-priced home? Why?
Tina Plett, Sutton Group-Kilkenny Real Estate
There are a lot of weird things about the real estate profession.
Like working side by side with your direct competitors under the same unified banner.
You’re on a team, but you’re also not.
Sure, there’s camaraderie, all of us being members of the real estate ‘sisterhood’, but here’s the thing.
Sometimes sisters fight.
Insecurities, miscommunication, and outright jealousy and fear can cause a lot of problems among humans. Even real estate agents. Even competitors.
We can’t avoid it, really. So the trick then isn’t to avoid competition or miscommunication, it’s trying to figure out how to disagree like grownups, and compete with sportsmanship.
I’ve seen my share of office feuds, both between agents in the same office and agents in different brokerages. Sometimes it’s frustrating to watch, other times it’s heartbreaking to watch someone flush their reputation and professional relationships down the crapper for a measly paycheque.
I’ve seen people huff and puff about ‘how dare so-and-so talk to THEIR client’ when the truth is that was never ‘their’ client. (Because first, people are not property to be claimed by real estate agents and second, saying hello to someone in the store does not a client or piece of property make) *rant over*
I’ve also been to countless meetings with other agents and was met with snarky attitudes, snide comments, and outright belligerence. Once I got over the shock of a fully grown adult behaving like a toddler in wingtips, I stored it in my memory as evidence of an important truth – one we all need to learn.
Agents, we need to get it through our thick, competitive heads, that we don’t need to steamroll and pull each other’s hair to make it!
We need to realize other agents are our not our enemies – they’re our best customers!
Why Competing Agents are our BEST Customers
1) They Cover You on a Day Off
Without some degree of teamwork (or shirking our clients), we won’t get a day off. We need each other. If you expect another agent to do anything on your behalf, you’d best maintain those relationships.
Someone whose client you poached, whose deal you tanked, or who you simply treated with disdain is not going to jump to help you.
2) They Bring Referrals!
Referrals from other agents is a huge resource for leads. Winnipeg agents occasionally send me leads so they don’t have to drive all the way to Steinbach for a showing. I absolutely want those! But, when I sell a house as a result of that referral, I absolutely give a referral fee to that agent. I treat them well and reward them for their efforts to work with me. And the people they send my way? I treat them with excellence too. Know what happens? Those agents don’t hesitate to send me referrals in the future.
(If I’d choose to be snippy, cheap, or treat their would-be clients poorly though, I could not expect that referral source to keep flowing!)
3) They Understand Loyalty
Some people put a lot of energy into ‘protecting’ their clients from being ‘snagged’ by another agent. I have a list of problems with this. Why would any agent put so much work into keeping someone who is so apparently disloyal (clients aren’t objects to be kept on a shelf anyway), when it’s so much easier, efficient, and rewarding to work with people you like and who like you – clients and agents.
Cultivate those relationships, and reap loyalty. (and so much more.)
We need every office to be willing to work with us – to be willing to bring offers and show our houses.
If another agent thinks you’re a pain in the a#$ to work with though, they might just resist showing your houses. They might just try to steer their clients to other options to avoid the unpleasant, sarcastic, snarky-attitude-ridden experience that is meeting with you.
4) Repeat Business. Like… A LOT.
Another huge reason other agents are our best customers is because they can repeatedly write offers on our listings. A buyer or seller will only do business with us once every few years at the most generally, but a realtor can do business with us many times!
Bottom line: We need each other. Let’s act like it.
Tina Plett, Sutton Group-Kilkenny Real Estate
It was the end of a long, frazzled day.
Showings here, demanding clients there, and a list of time-sensitive tasks that needed to be done ‘asap or else’ had chased me to the end of my time.
But there was one more to go.
That evening I met with an older couple, in their eighties, to show them a house.
I had no idea the surprise that awaited.
We walked into the vacant 1960’s home with its original wood doors and trim stained that awful kaka yellow. The countertops were original too, with their brightly colored laminate. It was one of those moments where, for just the teensiest split second, I was sorry I could see. Amazingly, the home had not been updated at all. It felt like we had stepped back in time.
While this modern-day REALTOR® was shaking her head, wondering how such a severely outdated place like that would sell, my elderly clients had other thoughts. They caressed the laminate countertops and wood door frames.
“Look at this – they have wood doors!” She said to her husband.
“Oooh, yes,” he said, coming up beside her and running a hand along the door also.
They did that in almost every room. It was sweet and also a bit weird. But it was the era they came from, and, outside of museums, they probably hadn’t seen such a well preserved 1960s relic in decades. I imagined I might likewise caress metal window casings or rustic log furniture one day. And if I did, I hoped it would be sweet too.
“How much is it? And does it have a basement?” The husband asked. We’d talked about it a few times, but he was forgetful.
“It’s $215,000. And yes, it has a basement.” She answered politely, as though it was the first time he’d asked. “The door to the basement is by the kitchen.”
“Ah, $215,000. Okay.” He walked over to the door by the kitchen and opened it. “Is this it?”
“No,” she said, “that’s a closet.”
“Oh! A closet! How lovely!” he said, and closed the door. “Where’s the basement then?”
Without a sigh, grimace, or any single sign of impatience, she walked over to him and showed him where the door was.
“Oh! A basement! How lovely.” He said, “And how much is it?”
Her patience with him seemed limitless. She calmly answered his questions several times over, each time as though it was the first they’d spoken of it. There was no, ‘Remember??’ or “I already told you”. There was no exasperated head shakes or eye rolls. In no way did she ever shame or embarrass him or even seem impatient or inconvenienced at all.
Her response stunned and humbled me.
I imagined, in her position, I would definitely let a sigh escape if I had to do that all day every day. I found myself wanting to be more like her.
They didn’t end up taking the house, which I think is great because it means I get to spend more time with them looking at others. They’ll look at houses, and I’ll look at them.
Which made me realize something else.
No matter what we’re doing – no matter how mundane or unimportant or invisible the task at hand, there is always someone watching – someone noticing how we live and respond. And hopefully, what they see is something that inspires them. Or encourages them. Or just makes their day a bit brighter.
Tina Plett, Sutton Group-Kilkenny Real Estate