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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46 Comments on Our Code of Ethics allows us to be aggressive!!!
I just wrote a whole long comment on how crappy some agents are about marketing properties and then refusing to cancel the listing. I don't want to take you through it, so I deleted it.
Please have the Remy and Cigar, would ya? Do it for me. Cheers and Congrats!
BB,
I agree with you 100%. Be upfront, honest, and you will get more win-win situations. AJ
This is what happens when people read and understand the CoE. As you said, it's a win-win for everyone involved. Good luck on getting TLW to pass on the shopping... doesn't really sound like that's gonna happen.
outstanding again BB. Guess it has to be to keep TLW in the mall. have honestly never thought of that approach. Come to think of it, I've never even heard of it around here, but will use it every damn time in similar situations from now on. If anybody ever asks me where I learned the technique, I'll tell them some guy figured it out so he can relax in his pool while is wife is out shopping.
best
Hey, I've had a few that, if you were in DC, I would have called you before my buyer did! I've done that a few times, and I've been on the side you were on a few times. What I don't appreciate are the agents who show your listings with the owner at home and then proceed to hit on my client. Doesn't happen too often, but when it does, it pisses me off.
Good morning everyone. I hope this post has inspired you to be aggressive in youir business. I know in my market right now I have to look under every rock to get a deal. It's brutal in Poiniana Fl!!!! Next week I will start soliciting business in Winter Haven. Thats about 25 minutes west of Poincana. Maybe you've heard of Cypress Gardens?
I figure with the difficulties in Poinciana I best spread out a little. It's time to start exploring other markets.
As always I appreciate you guys stopping by. THanks!!!
Hi BB - I don't see this at all as sneaky or aggressive, and it's too bad that others might. That agent, I'm sure, was very appreciative of the way you handled this. Clearly that's the case, since she offered you another listing referral. This could work for so many who have listings that just aren't working out - sometimes personalities just don't mesh, and at times, that gets in the way of getting the job done.
I like and respect the way you handled this - very professionally in my opinion.
Ann
Said something nice about you to that nut you're married to, but didn't really mean it. It was after watching the two of you toss Don Rich into the fire. Laughed at your comment on the seer piece. Bertha does have her place.
best
Bryant...Bravo! You did exactly what any of us should do in the same situation. You were aggressive to the benefit of everyone and in a way that enabled you to maintain a good working relationship with your fellow agent. That's the best we can achieve. Good lesson for everyone.
Good luck with the new listing!
Cheers,
Kathleen
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