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…]

Football is Back

Practice Risk Management

Practice Risk Management

There is something special about this time of the year. It seems that when football players hit the practice field for the first time; simultaneously a fog of excitement spreads all over our nation.  Conversations between people seem to switch from the weather to football. People that don’t even like football seem to have better attitudes because football is the first sign of fall, and we know it won’t be long until cooler weather arrives. Thanksgiving and Christmas comes into sight which is generally a happy time for people. Take yourself a little survey by asking 10 or 20 total strangers what their favorite time of the year is. You might be surprised like I was. The fall season is by far my favorite time of the year but I would have thought that most people liked spring the best. Not so. My survey shows almost 75% prefer fall.

By having a career in sales, I learned a very valuable lesson about football and I learned it the hard way. [Read more…]

Real Estate Agents Aren’t Created Equal

Listen Intently

Conversations Include Listening

Please don’t jump to any strange conclusions by the title of this message. By no means do I discriminate against anyone. The key word in this title is “created.” People aren’t born with natural abilities perfectly aligning themselves to become real estate agents. A career in real estate is not nearly as appealing to children as becoming a policeman, fireman, pilot, astronaut, or to play for the NFL or NBA. For whatever reason we decided to get into real estate, the only similarities we have are the educational requirements and the fact that real estate sales people are licensed through their respective state. How and if we develop our career is an individual choice. The level we take our sales production is solely dependent upon our desire to become successful. I liken our industry to most others in that we can go to a real estate office, we can dress and talk like a real estate agent, we can drink real estate coffee, we can speak the real estate language, but that doesn’t make us good real estate agent; anymore than sitting in a hen house makes you a hen. Like other professions, all real estate agents are different. You don’t know what you’re getting until you unwrap the outer covering to see what’s inside. Sort of like Forest Gump and his box of chocolates. [Read more…]

The Hardest Nut to Crack

Are You Committed like He Is?

If you are a real estate sales person, the hardest nut to crack in your career is that of self-discipline. Since you are an independent contractor and own your own business, your days are filled with making decisions that affect the success of your entire business. Your ultimate goal is to perform tasks that produce income and to not let non-productive things hinder you from doing the productive things.

A typical day in real estate, in offices across the nation, licensed agents go to their office and drink real estate coffee, make copies on a real estate printer, have real estate conversations, speak the real estate language, and virtually accomplish very few productive things during a day. Unfortunately one can look and act like a real estate agent but that doesn’t make them successful. The vast majority of real estate agencies don’t have in-house trainers to teach agents the proper way to do the business so they can become productive. So many new agents learn from other agents in the office by hanging around the break room and copier. Learning bad habits from other agents is a poor way to learn how to list and sell real estate but this is not our topic for today.

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