I had a closing today. I love it when that happens. TLW can now go shopping and I can sit out by the pool, work on my tan and bask in the sweet feeling of victory while smoking a $10 cigar and sipping a Remy Martin!! OK maybe I'll pass on the cigar and the Remy. I wonder if TLW will pass on the shopping? I doubt it.
About 6 weeks ago I had a very nice lady from England contact me from my ActiveRain blogging efforts. Her property, a vacation rental, had been on the market for almost a year with another REALTOR® with no action and she really wanted to get it sold. Anyway, like the good little Broker that I am, I told her I would do a quick analysis on her property and call her back shortly.
My analysis showed that she was about 20% above market value and that the property was currently listed with another REALTOR®. I called her back and "pitched my wares" and told her what it would take to get her property sold. I also mentioned that since she was already listed I could not take the listing at this time but if things changed please let me know and I'd be happy to get her place sold.
She called me back the next day wanting to cancel her current listing and list with me. She then proceeded to tell me she had been trying to reach her REALTOR® for weeks to no avail.
Her current REALTOR® was someone I have known for years. I told the Seller not to worry about it that I would call her REALTOR® and see what I could do. So I did.
I told the REALTOR® that her Seller had contacted me(which she had) and that after speaking with her and giving her my opinion on what it would take to get her property sold she had decided that she wanted me to list her property. Then I asked the REALTOR® what the status of the listing was and when was it expiring. She told me.
Then I suggested to her that if she would cancel out the listing agreement, now, I would pay her a 25% referral fee and get this property sold promptly. She agreed.
I listed the property on December 5th and closed on it this morning. The other REALTOR® was very excited when I called to let her know we closed today and that she will be getting a check on Monday. She then asked if I wanted another referral for one of her other listings that she is struggling with. I said OK.
Folks, I wrote this post to show you how to practice aggressive real estate within the boundaries of our Code of Ethics(COE). While some may feel I over stepped my boundaries according to our Code of Ethics, I did not. I also didn't do anything sneaky. I picked up the phone and called the other REALTOR® and simply had a conversation and made a suggestion that she wisely went for. I say wisely, because the way the property was priced it would have NEVER sold. The listing would have expired and the REALTOR® would have got squat.
Instead she was able to get a referral fee on it. The Seller was happy, I was happy and the other REALTOR® was happy. It was a win, win, win. Everything was above board and everything was ethical and legal.
Sometimes, we just have to take the initiative. It would have been very easy to just tell this lady I couldn't help her but I would have been lying. I could help her and I knew it. I also could have just told her to fire her REALTOR® and call me back BUT that would have been unethical. So I took the high road, made the call and everything worked out just fine.
Aggressive? Yes. But just like everything else it's all in the presentation. Now you know how to handle these situations when they come up. How did I do?
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