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REALTORS® Want the Love

Realtor Love

So many times I see other agents getting themselves in situations they should never have gotten themselves into. Many are just not professional, but there is another group: Those who need to be loved.

Most real estate agents want everyone to love them, so they do what they think will bring them the love. Being loved is a need we all have, but it can be a big problem when that need is placed ahead of being a professional.

How many times have you gone against your better judgment to appease your clients?

Listed the home for more than you knew you could sell it for so as not to offend the seller who believes his or her home is worth more than all others in the neighborhood.
Held your tongue when looking at a home that desperately needed cleaning and repairs.
Closed your eyes when the buyer wanted to use their cousin for a loan officer that just got their license and had never done a transaction before.
Ran ads in publications that never produce results because the client liked seeing the ads.
Held open houses on days you know no one will come.
Shortening the terms of your contract.
Writing offers that are so low they have no chance of being accepted.

One of the lessons I have learned over the years is that it is easier to say no now than come back in three months and make excuses for not having success.

The need to be loved at the moment may cause you to be disliked in the long term. Being a professional does not mean saying what the client wants to hear. Many times it requires saying what they need to hear. In the end clients are coming to you because you are a professional and they need your expertise. It is not always easy, but sometimes being a professional means risking the love in the short term. In the long run they will love you more.

Posted by Randy L. Prothero - Hawaii REALTOR® on 12/04/2007 06:03 PM

Comments (57)

realtor, real estate, ethics, professionalism

Originally posted at: Hawaii Randy's Real Estate Opinions: REALTORS® Want the Love

This post has been included in Hawaii Information

57 Comments on REALTORS® Want the Love

DEC

2007

Randy - truer words were never spoken for sure. Cut your loses at the onset..saves sooo much grief later. And, saves your reputation!

Havent we all .

I have listed for more than it was worth, actually $100,000. more than it was worth, it was a freind, and I told him many times what the value was, so I think my case was a little different, But get this - I SOLD IT for that amount, I began questioning my own judgement ???

Low and behold though - the appraisall came in exactly $96,000. les than I sold it for!

So always trust your own judgement - he ended up lowering his price $80,000 to make the deal (thank god the buyers really wanted it).

i should have used the appraisall angle on my client - I will nest time.

Aloha and have a great day

Lance Owens (RS) Aloha Kona Realty

Lance@KonaHomeTeam.coom

(808) 936-8383

Hi Randy!

I completely agree with you too! I find using humor helps a tense situation. I also like the words, "realistic and reasonable" as they aren't too harsh. Also, getting dragged into a bad situation just takes away your energy and time to work with your "gem" clients!

Great blog you are right about all of above. Your Orlando & Lake Mary, Real Estate Expert, Heather Joubran

Linda - Oh so true. I find in many cases they respect you more if you give them the straight truth.

Lance - I always tell clients the bank is the great equalizer. Even if they find a crazy buyer the appraiser will say no.

Evie - They do drain your energy.

Heather - Thank you

We were talking about this yesterday...nope...too many agents taking over priced listings only to waste time and money. YUK!...same goes for anywhere in life Randy...even here...for the sake of "being loved" people do weird stuff :) Okay, I know what you're going to say...touchy feely fairy stuff I write...hey...not all the times...I mean look at yours this time...talk about a touch feely RE post ...Hearty har har! :)

George'll be here to back me up ...haha!

i love the angle you took with this, Randy. You are right...we DO want to be loved and sometimes we end up tripping over our own 2 feet later down the road.

1. I get all the love I need from my family and friends.

2. I run a real estate brokerage because it's my job and I make a lot of money doing it.

Somehow, I believe that if I needed number 2 for number 1, number 2 would suffer and I know #1 would.

Nice post..and it shows what can happen...the downfalls..very good example ! Great job!

Tom Davis Realtor

You are SO RIGHT! Many of us hate to be the bad guy and bearer of bad news (a.k.a. reality). I have been trying to watch this lately, but it is hard. Some of my clients are so convincing, but alas, the stats don't lie.

Sally - OK you got me, this was a little touchy feely.

Lisa - It is important that we recognize the importance of not just trying top be loved, but also respected as professionals.

Lenn - You are so right.

Tom - Thank you

Chelle - I agree, some days I feel like scrooge trying to Christmas when I have to give them the truth.

Great blog, and very true. Something to remember as very valuable information!

We can all agree we have our moments of not thinking clearly enough. The longer you're in the business the better you recognize the good or 'dream' client and the time waster.

Randy - all you write is right on!! Ihave one thing that bugs me about our industry. I love what I do and do it well but I'm sure we all have that one company or group of agents who use non-professional standards to stay competitive and thus sometimes damage those of us who are true professionals.

us realtors are a needy bunch emotionally. i try to always remember, "under promise...over deliver" and to "keep my trap shut" sometimes and don't promise everything to make someone happy if it is clearly th ewrong choice.

I agree, Inflating the price of the home only hurts the agent in the end. Because when that house doesn't sell what is the homeowner going to do. They are going to look for a new agent. I had a homeowner that wanted to list there home for $15,000 dollars more than what it was worth, the house is still on the market. I myself didn't list the house, reducing the home over and over again can ruin the chance for the homeowner to get the max price that they should.

Randy, My Hawaiian friend -

Oh, how I wish I could tell you what your blog made me think of. The best of intentions and trying to please everyone, especially a seller, has gotten me into a pickle that will take me a few days to get out of. I just wish I'd walked away. Months ago.

I'm sure that most of us have held our tongue when we shouldn't have, especially when we were new to the business. Honesty is always the best policy (always given with a spoonful of sugar, though)!

You couldn't be more right. Its always better to "under-promise" and "over-deliver". Price it right, the first time, and you provide your clients a better service--a quicker sale and a larger net! They will love you in the end indeed!

Amy

I agree 100% with you, better be homest than be hated...

Overpricing a home and misleading a Seller, just to take a Listing is unethical, in Wisconsin anyway. Does it happen? Unfortunately, on a regular basis. Some agents are trained that way, don't ever walk away, someone else will take it!

Have I ever taken an overpriced listing? Unfortunately, on a regular basis. Why? Seller motivation. If the Seller needs to sell, for whatever reason, job transfer, marriage, birth of child 2,3,4,5,or 6 through 12, just became an empty nester, won the lottery, death, foreclosure, divorce, job loss, adjusting the carbon footprint, boomerang child(ren), oops, sorry.

I always give the Seller an honest Market Analysis, most of the time they see where the value is, and they still want to go beyond a reasonable asking price for a variety of reasons, you've heard them all, my brother said, my mother said, my daughter said, my neighbor said, my hairdresser said, my lawyer said, my parrot said, my horrorscope said...

Again, depending on motivation, I'll hang with them, giving them statistical market updates weekly, from REALTOR.Com, MLS, various websites, have some open houses, (not productive in a declining market) marketing to the max, until they see the reality of realty in today's market.

My sales ratio with these properties is over 80%, worthwhile in my mind.

Not to mention, in the cold months, when the golf courses are closed here in Wisconsin, I need something to do.

Congratulations to Brett Farve SI's Sportsman of the Year!!

Randy,

As Floyd Wickmann said "Better to lose em' sooner than later." We are all guilty of these agent transgressions...... that is for certain. Bad habits are hard to break.

I keep telling my partner not to beg..if you beg...you'll be getting your pockets drained. The funny thing is when they fight you for the commission they fail to understand if we sell it we get paid...if we don't we lost not them.

Denise - Thank you

Jamie - We all know some of those folks in all areas of the industry; from real estate agents to loan officers. All we can do is be professional and we will be around and successful long after they move on to something else.

Trevor - The over deliver is the secret to getting them to love you long term.

John - I turned down a few listings for that reason. One another agent took a real high price is now well below where it should have been after many price drops and is still on the market 7 month later.

Debbie - We have all been there. After being kicked in the head a few times I am getting better at saying no. I have learned you can say no without insulting people.

Kelly - Well put. You can always be nice no matter what the answer.

Amy - You described a pattern of professional behavior. I am sure your clients love you at the end of the transactions.

Maria - I live on an island. Everyone seems to know everyone. If you are less than honest you will not be around long.

Dan G. - I am willing to price a home a little high if the seller is in agreement that we will test the market and if it is rejected they are prepared to bring the price to the appropriate level. The needs of the seller, does have an impact on those decisions.

What I tell my clients is that my recommendation will be different according to their needs. If they need to sell fast, my advice will differ from they have a huge positive cash flow and are not in a rush.

I was real happy for Bret Favre. He definitely earned it. Also the UH Warriors are heading to the Sugar Bowl, with the only undefeated record in the NCAA.

Trey - It can be hard to walk away at times. I have decided that if you are not prepared to do that you and your clients will be less than happy. Many times the fact that I held to my guns gained the client's respect and trust.

Neal - If we don't sell it we all lose. They have the carrying cost and we have the marketing costs. If we can not form a good working partnership with them then they need a different agent and we need a different client.

Hi Randy,

You're so right. I think I need to be more disliked. Sometimes it's not worth it being that loved by your clients, waste of everybody's time. Hey, this is my first time on your blog.

Aloha!

I agree 100%, HOWEVER, (the magic word) I personally don't feel the need to be loved from the onset. I have always tried to approach the listing from a logical position rather than an emotional one. I look for Motive, Ability to sell, how soon do they want to be gone, where are they going, and are they coachable and trainable. By that I mean are they willing to do as I suggest regarding fixing up their home and correct pricing from the beginning.

I know that correct pricing is a guessing game, but to cover that, I do what I call a "2 finger presentation" which gives them a visual guide to the market falling faster than their price decreases. This shows them that it is impossible to ever sell their house if the asking price never matches what the market dictates the selling price to be as determined by the buyer. If I don't have an offer within 21-30 days, the price goes down 5% automatically, and this continues until we start getting offers. I reserve the right to withhold lowering the price if I am getting showings and positive feedback, but if no offers come in, the price can be lowered again, automatically.

I know this sounds kinda harsh, but it is a system designed to find the market price if I don't from the beginning. I have to be fair to my Broker as well, by not spending advertising dollars promoting a overpriced home I know won't sell. I believe that I provide a service to (my sellers) but my loyalties are to (my Broker and my family) because homes that don't sell, don't pay the bills. Sorry, but that's business. My sellers may not be overjoyed when I leave the listing appointment (whether I get it or not) but they like getting their home sold in a fairly short period of time. By the way, if they won't work with me, I don't take the listing. I have better, more profitable things to do than stress about listings that won't sell due to price, and it's always price.

Is it love or just plain ignorance ?

Hi Randy,

You are right on with this one. I am a huge fan of "tough love" in this market, good post my friend! :)

Another example here Randy of how the truth will set us free. It we got enough of the good stuff within, we need less to go outside for it. All of us like to be liked, and your are right that we get more of that by being professional, rather than too needy, in the long run.

Saw your photo on Sally's post yesterday. Knew that you know each other, but didn't realize it was that close.

cheers

I have a potential new client. His second home here on Drummond Island was appraised last March for 262K. I pushed on with my usual mini teaching seminar to clients. "Do you want to sell this year or two years from now"

I advised him to price it at 217K to 221K. I did the comp work to support my price. He wanted to clear 200k to make 60K profit. I told him he was a dream client.

Too soon! Now he wants to list at at least 225K. My heart sank. This Michigan market is so bad, and I thought he understood that from our conversation. He may take the listing to my competitor. 18 months in the business, just closed yesterday (my second sale) on a dog of a sale that was pending for 121 days. The news did not hit me well.

It's only 4 grand, but I think it will discourage lookers. He may not be a dream client who listens to me.

Randy, there's such a thing as Tough Love. Love means being honest, and in our case, advising honestly, fairly and from knowledge. They may not love us now, but most will acknowledge at some point and appreciate our having their interests at heart enough to tell them the truth.

Elaine - Welcome to Active Rain. I do not want to be disliked, but I do need to tell it to them straight.

Ray - I have a saying I am not in the business of listing homes. I am in the business of selling them. It sounds like you are in the same business. I have never required automatic price adjustments. I am not sure I have the nerve to require that. In a worse market maybe.

Sally and David - Maybe a little of both.

Elaine - Welcome to Active Rain. I do not want to be disliked, but I do need to tell it to them straight.

Sally and David - Maybe a little of both.

Suzanne - Thank you

Gary - I am sitting at Sally's desk right now. After hours I like sitting at the front desk to catch people at the window.

Vivienne - That is tough, when you show them the numbers and they don't get it or want to get it. Possibly his hairdresser neighbor, (arm chair real estate expert) gave him advice.

Sharon - that is the most important thing that they realize you have their best interests at heart.

And telling clients what they need to hear, instead of what they want to hear, is tough love.

DEC

2007

Randy,

I am just running like dan cummings, but I just came to say hello , great blog, ! :)

Ray Saenz

Good post. Thanks for sharing with us all.

Eric - It is sometimes very tough, especially when they are upsiode down in their mortgage.

Ray - Aloha, hope all is well with your business.

Bob & Carolin - You are most welcome.

Randy-I agee! Do you know I wrote a post a while ago...about a house on the market with 3 different realtors and guess what it's listed with a 4th now....I have to check the price this morning...but it goes to show you....seller's do not pay us to make them happy...they pay us because we provide a service...and the bottom line you won't get paid unless you do provide a true service...which includes educating the customer. Great post Randy

Randy Great discussion! I work with an assessment in my coaching called Personal Interests Attitudes and Values. The people you are describing are the ones with the high SOCIAL value and they value others happiness sometimes even beyond their own. I say it is like the "Mother Theresa" value (and you guys know who you are!). Good value to have in our business if it is balanced with the ENTREPRENERURIAL value :>) I also use distinctions to make a point and the one for this situation is:
Would you rather be respected or liked? Thanks for the post

Randy, Sally is right, I always knew you were a touchy feely kind of guy and now we have the pretty little pink hearts to prove it, and may I say the pink does seem to be your color.

Great advice, I think we all need to remember this at times.

I never thought about it as needing to be loved more like just greed! One of the things I've learned is to stop soft peddling. If it's not right, I'm saying so. That doesn't mean in a rude way, but with authority. It's still very hard to do!

Good advice! Why waste our precious time on something that in the end will bring you nothing but frustration.

I agree with you too! I find using humor helps a tense situation. Great Post. Thanks.

See Randy? George got my back.... lol!

Hi Randy, Very well said! This seems to happen time and time again and I think we all need to keep your words in our head on those appts. We often will slip back into that need to be loved by the client and forget that we ar the professionals. Thank you so much for the post. Angelica

Midori - I guess some folks don't learn the first three times.

Joeann - The respected or liked question is important. I also think the question of do you want to be liked today or after the transaction is over.

George - I didn't have red hearts handy, but may need to find them to clear this up. LOL

Christina - Thank you

Joesette - I am having a much easier time saying no up front than facing a client later with excuses.

Silvia - Thank you.

Mohamed - Humor is always a tension breaker.

Sally - At least I did not stoop to fairies. LOL

Angelica -It is not always easy under the pressure of getting the business.

DEC

2007

Randy once the truth is out of the closet it is hard to hide it again, Sally had you pegged, and now we all know it ..... LOL

But that is OK we still like you anyway :)

George - Don't spread it around. :)

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