Loyalty; A Fiduciary Responsibility

Real estate agents from across the country prompted me to write this article. If we step back in time 50-60 years, people

were loyal to each other. They were loyal to the people they did business with. The giving and receiving of loyalty was expected. It was almost like an unwritten law of conduct. In many cases, deals were made with a handshake. No written contract was required. What happened to it?

Then came prosperity

[Read more…]

Insulating Against A Law Suit

Generally most of my posts are adaptable to sales in any industry. Today I am specifically addressing real estate sales. If someone practices real estate very long, they will face legal issues; especially if they sell a lot of real estate. There is a very simple explanation for it too. It’s impossible to please everyone, and especially, if you represent both the buyer and the seller. In this type situation the buyer feels like the seller took advantage of them, while the seller feels like the buyer took advantage of them. As a Realtor® who is wedged between both parties thinking the agent showed partiality to the other party in the transaction. To complicate matters worse, in a typical real estate sales transaction there are numerous entities that have specific requirements and guidelines that must be followed.

Managing Your Risks

Generally most of my posts are adaptable to sales in any industry. Today I am specifically addressing real estate sales. If someone practices real estate very long, they will face legal issues; especially if they sell a lot of real estate. There is a very simple explanation for it too. It’s impossible to please everyone, and especially, if you represent both the buyer and the seller. In this type situation the buyer feels like the seller took advantage of them, while the seller feels like the buyer took advantage of them. As a Realtor® who is wedged between both parties thinking the agent showed partiality to the other party in the transaction. To complicate matters worse, in a typical real estate sales transaction there are numerous entities that have specific requirements and guidelines that must be followed.

In most real estate sale transactions there are two separate agencies involved. 

More times than not one agency will have the listing and represent the seller while the other agency will represent the buyer. [Read more…]

CLIENTS FOR LIFE

How Are Your Communication Skills

It sounds too good to be true doesn’t it? You can actually have clients that will stay with you for the rest of their life. Not only will they stay with you but they’ll also send you referrals. I will share with you six easy steps that will ensure that happens for you.

Step One

Have a sit-down consultation with them. I often refer to this as a meaningful conversation. Some people might call this a “Come to Jesus” meeting. Regardless what you call it, you need to converse with your prospect in such a way that the prospect understands that your main interest is in them and their best financial interests rather than your main interest being in selling them a property.

The best way to accomplish this is to explain to them that since you don’t know anything about them, or they you, that you would like to put the transaction aside for a moment to allow you to get to know each other. Direct your questions about them personally. These are people that you want to establish a relationship with and hopefully will become your best friends. Find out such things like

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