Jim Valentine on Real Estate
Real estate is as much about the people as it is the property. The relationships and communication between the agents involved in a transaction can make or break the transaction. It is most unfortunate when a communication breakdown breaks a transaction that should have gone together. It isn’t always the words or the terms that cause the transaction to fall apart, but the egos of those involved destroys many a deal.
That is the worst and usually the clients have no idea that they are being compromised in such situations. The agent communication usually begins with some interaction about the property, the showing, questions about things, getting a feel for the property and its status. Is there an offer being considered? Does the seller need a rent back? The conversations help both understand what the other is trying to achieve and the likelihood of their realizing their individual goals together. Once the transaction is put together everyone has a common goal, the close of escrow.
During the transfer of information there are kind ways to say delicate things. If the home is in dire need of some attention, it is likely not a secret the seller doesn’t know, but they don’t need their face rubbed in it. When you walk through a house, don’t stage whisper your negative comments. Instead, think of the possibility of working through the problems, or not. If you can’t then the home isn’t for you. If you can, what is the hassle factor worth to you? No need to insult the other party, it won’t help you get a better deal.
When statements get personal things can fall apart quickly. For the most part, at this stage of the potential transaction, agents are merely conduits of information. Details flow both ways as a meeting of the minds is sought. A very low offer may simply be a starting point the buyer hopes will gain them some savings. If it is taken as an insult by the seller and no counter ensues then no one knows where the transaction may have gone.
Some folks just need to “try it” to see if there is any movement. At this stage they are still feeling one another out, like a couple of fencers moving up and down the strip testing distance, speed, and tendencies. What will the other party do if I do this?
The agents should be clear about their client’s desires, but also understand that they may not be getting told the absolute bottom line. Don’t take hardline stances or attitudes with the other agent, let it play out. If it doesn’t go together, it isn’t your fault. You won’t bully the other agent into making their client do something they don’t want to do.
Help them with perspective if they don’t understand what is going on. Many new agents will try to bluff their way through when they don’t understand the nuances of the situation. We are seeing situations where agents try to bully their way to a result which only brings hard feelings and few results. If a transaction happens to go together in those circumstances the bully better hope nothing occurs that changes the foundation of her client’s position.
Cooperation in such circumstances can be difficult to acquire. Agents negotiate as part of their duties. It is important that they keep their eye on the goal. If representing a buyer, they should do what they need to and can to make the purchase happen, and vice versa for sellers.
Bullying, making snide personal comments, or simply maintaining a condescending attitude is not recommended for a successful career in real estate. You may win a few, but we can say with our many decades of experience that you will lose more than you win. Cooperate well, represent well, try on the hat of the other side and look at things from their point of view. Be a professional and serve your client, not yourself.
We have a saying posted in our office: “If your customers’ needs are met, your needs will be met.” It is a good way to live and an excellent way to build a solid real estate career. Communication thrives with that mindset.
When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless! Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704. firstname.lastname@example.org.