Being the Source of the Source

Like a wise owl, you give good advice. Don't be the source, unless you are the only person who knows a particular fact that must be disclosed.

It's okay to make a phone call to find out WHO could be the source, but then point your client to that source.

Being the "source" instead of the "source of the source" reminds me of the game "telephone" where someone takes a phrase and whispers it to the next person in line.  The phrase is passed quietly from person to person.  It's always interesting to see how the message changes from the first person to the last. During the course of a conversation more questions frequently develop which is another great reason for the client to speak directly to the "expert."  

I remember one of my Continuing Education teachers spoke these words at one of her classes and it calms be down and makes me think before I go giving advice:

"As I look back on my career as a REALTOR, the times I went out of my way to do "favors" for my clients, are the times I was at greatest risk."  I think it's good advice.

Yep, one of the MAIN points in our Risk Management Classes. Reduces YOUR Liability this way!

I was just having this same conversation with another agent in my area. Great topic and one that shouldn't be overlooked.

One of the trickiest questions I get from buyers wanting to buy seasonal rental property here in Sarasota is the one about how much rental income can they expect to realize.  Well, that will depend on location, size, red tide, oil spills, the economy and about 25 other variables.  My answer is always the same.  There is absolutely no way to guarantee you a rental income and if the income makes the difference between your ability to buy or not buy, pass on it.  Only buy what you can afford to maintain on your own.

Such wise advice. I can think of times when I was an agent when I did just what you're saying NOT to do. I think I was a soft touch - "Oh, you know who to call and what to ask, so could you find out...?" If I had it to do over I'd have said no. 

Interestingly, some of the properties I learned were NOT buildable because of septic issues now have houses on them... ?

You're right. Stick to what you do and that's sell houses. Point them in the right direction and just be honest

"I don't know but here's the number for the planning dept." municipality or whoever.

It's not something you should be doing. 

When my clients ask me questions like that- I provide a phone number for them to call and look into- I explain that I cannot transfer 3rd party information due to liability.  They always understand and do the research;)

I totally agree.  We're to refer them to the other professionals.  That's why it's so important to have your phone list or contacts of all City Information pertaining to land/homes etc.  Sometimes a trip to the accessor's office and getting someone's name is always a good thing to have, get a print out of all their contact information, now adays with internet you can basically just google the information and contact person from any City.

Be the source of the source - Great One!  Thanks for sharing Chris. 

Great advice - we are always in the line of fire from someone, best to stay out of it

Agents need to make sure buyers understand they must do their own due diligence;  we can be the 'source of the source" as you say, but better not to be the person in the middle about whom the buyer says, "But our agent said..."  Nope, they need to hear some information first hand from a reliable source, not hear the agent's interpretation of what they think they were told. 

Chris Ann,

Great advice.  I see so many agents in my office wasting time chasing answers rather than pass along the source of the info to the customer and utilize the rest of the time prospecting!

HOMERUN (nothing to do with the world series either)

What a simple yet absolutely excellent post!

I have fallen into the trap (in my early years) and I would expect most have as well. You are so right about directing them to the "expert" in that area and staying on task for Real Estate!

I would have suggested but didnt see this until now and a little late to the party!!! lol

Brilliant blog!    This example is precisely why I take my buyers to the City or County departments, so we can ask those questions together.    You also stated this is just one example of the risks of going outside of our area of expertise - and that we should alwasy direct our clients to the experts to answer their specific questions when the questions go beyond our training and knowledge.      

Thank you also for taking the time to answer our responses - making this an interaction, not just a post.

I don't even like being the source of the source!! I like to lead my clients in the direction of finding the best way they think they can get the answer, usually the internet. This can be done in a way if your clever that really makes your clients appreciate and respect you.