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Honesty is the Best Policy

By
Real Estate Agent with The Somers Team at KW Philadelphia

A buyer was recently referred to us who was interested in 2 neighborhoods at the opposite ends of the city.  We were hands-down expert in one area and the other not as much.  We told the buyer that who was comfortable with it since he was already living in the area and knew it well.  On top of that, when we were showing him properties in the areas that we are hands-down experts, he got to see our knowledge of not just the area, but of real estate in general when it comes to homes, market knowledge and so forth.

He did have a past relationship with another Realtor which did not work out.  That person called while we were out and told the buyer "He was an expert in ALL of Philadelphia, every inch and corner."   I know that all of us can be experts (some more than others) in what we do, but it is hard to know every neighborhood in a large city like Philadelphia like the back of your hand.   The buyer said out-loud "Is that even possible ? "

This claim further solidified to this buyer that he wanted to work with us as he felt that the other Realtor was making claims that were just not true.

Moral:   Honesty is the best policy.

This comes up in business and life over and over.  It is important to be yourself and be up-front and honest with your clients.

Carra Riley & Declan Kenyon
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Your buyer certainly was able to think and reason when those outrageous statements were made - good for him and good for your position on honesty is the best policy.  I absolutely agree that you must be honest.  You are proving that it works.  Best of luck.

cosmic cow

Apr 11, 2010 02:59 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning,

You are right honesty is the best policy. Clients know when your overselling your abilities to the impossible!

Apr 11, 2010 04:42 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Honesty is always the best policy.  Even when you lose someone because of it they will remember you turned them over to someone who could help them better.

Apr 11, 2010 01:21 PM
Ellie Shorb
Compass Real Estate - Chevy Chase, MD
Realtor DC, MD & VA Luxury Home Expert

That guy must have been the "best Realtor ever!!" -- ugh. Glad you won over the buyer. Best wishes!!

Apr 11, 2010 02:27 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Amen!  I try to stay in my little corner of LV but it is impossible these days.  I do rely on referral partners to refer buyers out that do specialize in certain corners!

Apr 12, 2010 12:21 AM
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

Oh please...no one is  "an expert in every inch and corner."  And anyone who falls for that, gets what they deserve!

Apr 12, 2010 01:29 AM
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

You can be an expert in every inch of your city - if you know the right realtor to refer your buyers to when they want to go out of the area that you know.  You're now showing what an "expert" you are.

Apr 12, 2010 02:33 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Great post, and wishing you continued success.

Apr 12, 2010 02:43 AM
Jenna Dixon
Momentum Real Estate Group LLC - Marietta, GA
55 & Over | New Constructions | Horse Farms

Many agents make that claim in my market as well.  And it's just not possible that in the Atlanta MSA which consists of something like 13 counties, that you can be an expert in all of them.  There are neighborhoods & areas right in the county that I live in that are a 45 minute drive from my home!

Apr 12, 2010 02:56 AM
Nicole Donaghy
Re/Max Purpose Driven - Lexington, SC
Helping Families Home in Lexington and Columbia

It's impossible to be an expert of every inch and corner of just about any MLS.  We all have our strengths and we should cater to them, not downplay them by overgeneralizing.  Congrats to your buyers.

Apr 12, 2010 03:14 AM
Michael J. O'Connor
Diamond Ridge Realty - Corona, CA
Eastvale - 951-847-4883

It's interesting to see so many "I'm #1!" claims in real estate.  Sometimes I'll see these same ads side-by-side in the newspaper (yes, still read the paper) and wonder what clients must think when they see them.  Honesty is always the best policy - put your best foot forward, do what you know you can do, and keep expectations on target.  It would be pretty easy to trip up in a city the size of Philly if someone were to ask a simple question such as which elementary school would be the one for any given property.  Something that a neighborhood expert should know off the top of one's head - but might be tricky so someone who is an 'expert' for the whole city.

Apr 12, 2010 03:47 AM
Marie Richman
Century 21 Select Real Estate, Inc. - Citrus Heights, CA

So true... it's hard to remember what you said to who, and why when being less than honest,  it will always come out that you were NOT truthful-- and WHAM.. you've lost a client. 

Apr 12, 2010 04:05 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Never lie.  YOu may not know everything, but be the person that knows how to find things out.

Apr 12, 2010 04:34 AM
Kathleen Barnato
Kathleen Barnato, Your Santa Barbara & Montecito Connection - Montecito, CA
Realtor - Santa Barbara/Montecito Real Estate

Always be honest about what you know and what you don't know.  Never fudge an answer, never make things up.  If you are not a short sale expert it does not mean that you cannot do a short sale...ask for a co-list, or help from someone in your company who has experience.  Ditto on representing multi-million dollar estate clients - specialty marketing if ever there was one.      If you have never marketed a major estate, co-list with someone who has.  Your clients will thank you for your integrity and honesty.

Apr 12, 2010 05:36 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Honesty in all things will help you keep your stories straight :) Good for you!

Apr 12, 2010 05:39 AM
Jirius Isaac
Isaac Real Estate &TriStar Mortgage - Kenmore, WA
Real Estate & loans in Kenmore, WA

I do not know every square inch of the area I live in.  What I tell my buyer clients is that I am very good at representing my clients and that I may not know the area they are interested in quite as well as someone who lives there, but that I am a quick study and with everything that is available to me online, I will do the best job I can for them.

Apr 12, 2010 06:34 AM
Kathy Opatka
RE/MAX CROSSROADS - Ocean City, MD
Serving Ocean City, MD, & The Delaware Beaches

I agree!  And if you don't know the answer, tell them you'll find the answer!

Apr 12, 2010 07:14 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Honesty is the only policy, you sleep better and never have to look over your sholder.

Ty

Apr 12, 2010 08:26 AM
Fred Sweezer Sr. CMI, LLC.
Hud Certified 203K Consultant - Long Beach, CA
HUD 203k Consultant

We should stay those principles

Apr 12, 2010 09:48 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Glad you had customers who could see through a phony!

Apr 12, 2010 07:16 PM