Let me start by saying this: I love referrals.
Where other do mind them, I don't mind them one bit. My theory is this: I can use this listing as a tool to get another listing in the same neighborhood that is all mine, mine, mine or sell a home off the listing I'm offering a referral on, right? Business brings business.
Here's what I mind about the referral practice: Ring Ring (this is an agent in Bull Shoals Arkansas who met a lady at a bus stop who knows a person in Bonita Springs, Florida who's electrician is selling their home)
Well, today Ms. Bull Shoals emailed to refer a customer to me. Little info accompanied the referral. I explained in a return email that my policy is to do my best to educate the referring agent and the customer and IF I am not able to help them I will gladly GIVE them [the referring agent] the number of a competitor that has a listing in that neighborhood so they have a viable agent to work with. Pretty nice of me, huh?
Little Ms. Bull Shoals wants nothing of it and doesn't understand what would preclude me from being able to help her customer. She must take every listing without regard to how it effects her bottom line or the local market in general.
****I support my local real estate market & economy by taking listings that are only priced right - I don't "try it" at a higher price for a few week first****
I explained to her in no uncertain terms that times are tough in some areas of Southwest Florida. You've not given me a name or even street name so:
- I don't know where the home is, it's condition or if it's in a community like Village Walk with 64 other listings behind one set of gates. Booo! I'll do 'em, but they have to be serious about it!
- I don't know how much the customer paid or got an equity line for and if they're upside down. I'm not fond of short sales, but I'd happily refer it to an agent in my office who is.
- I don't just take any listing. There, I said it. Listings are falling from trees like buckeyes in October. I have a great marketing plan and only cooperative, educated, motivated sellers fit in that plan. Meaning: You have to list it for what it can appraise. (That crazy "old math" from the history books)
- Your home has to be ready for sale - spit shined and maybe you should throw in a warranty, too!
I finally called this woman, who was bothered by my call and asked why I just didn't call the customer for all the details. I explained this to her:
You want paid, so you have to play.
- You're getting educated and supporting what I have to say or the door is over there~~>
- Just because you offered me a listing doesn't mean I need to, have to or want to take it. It's my business and my business plan. Besides, I offered to help YOU find someone that would, remember?
- I need more than a phone number and a name because our Lee County Tax Roll doesn't seem to think your referral even owns property here. I'm not calling anyone with NO information to offer them because they can't see me bat my pretty brown eyes through the phone. Calling someone without any info to offer is like knocking on someones front door naked.
Again, I love referrals. But if you want paid then you have to play - or rather, work. Do your homework - do your portion. Get some info for the other agent and learn some info about the area your referral is trying to sell. The agent to whom you are referring is not your indentured servant and listings aren't that unusually these days.
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