david saks: If Your Client Thinks You Stink Will You Let Them Cancel The Listing Agreement ?
- 04/26/08 05:58 PM
Some public sentiment regards that the very best agents among us are the ones that allow their clients to flake out whenever they want to. Usually it's because the client isn't happy with the way you deal with them. What kind of situations have you had like this and what do you require, by the way of an explanation, from your client before you allow them to run ? Would you insist that they give you the chance to make things better first, or just tear up the contract ? Thanks to all for your thoughts and comments. … (16 comments)
david saks: How Many Homes Have You Sold In Your Career ?
- 04/26/08 05:45 PM
Do you do more than gather listings? What's your track record of actually selling houses? Clients demand agents with a good track record. Agents who sell houses. Agents who can sell houses in a lousy, downturned market. I'm not a salesperson, although a broker. Just an info-tech manager for a brokerage, immersed in geekdom. What's your story? Thanks for answering. … (10 comments)
david saks: Opinions versus Facts : Puffing Without Smoke ?
- 04/26/08 05:35 PM
What kind of liability are we up against when we state our opinions? Salespeople, brokers and company employees have to be careful with the statements they make to clients, customers and others in our profession. Should we be certain that the party to whom we direct our statements understand whether the statement is an opinion or fact? When is a statement of opinion permissable? When can the question of deception arise in a statement of opinion? How about statements of fact? Should a statement of fact be considered an accurate statement, and when if not … (2 comments)
david saks: Estates In Land
- 04/26/08 05:24 PM
What we call an estate in land is a term used primarily to define the extent of an owner's interest in real property. In it's general sense, an estate in land also defines the quantity, nature and degree of the ownership. There are a bunch of different types of estates but not all interests in real estate are estates. To be considered an estate in land the interest has to allow possession to tke place as we speak or at some time down the road and has to be continuous in some way. An example might be the owner … (4 comments)
david saks: Employee Versus Independent Contractor
- 04/26/08 05:17 PM
What kind of an employment agreement do you have with your broker? Should the employment agreement define your obligations and responsibilities? There really are only two alternatives to working for a brokerage: A salesperson has to be either an independent contractor or an employee. What would impact the organization of a salespersons responsibilities when they're treated as an independent contractor? As an employee? How does it affect the broker's responsibility to withold taxes or pay the saleperson? How do you view your position with your company and how does your broker treat you? Thanks..... -David- … (10 comments)
david saks: Commissions
- 04/26/08 05:09 PM
Before a salesperson is compensated, doesn't an agreement have to exist between the broker and the salesperson regarding the amount or type of compensation with the company? Do you share the commission from the transaction or receive a fixed salary? To be entitled to a commission one must be licensed, a procuring cause of the sale, and employed by your seller, or buyer, under a legitimate, binding, and legally acceptable contract. What kind of commission plans have you experienced in your career as a real estate professional? 100%, splits of varying degree, 50/50, graduated, compensated with service charges ? … (10 comments)
david saks: Discipline : No Whips & Chains Here, Sorry
- 04/26/08 05:05 PM
We're not talking about whips and chains here, although I know some of you might be disappointed. :-) Discipline is serious business for any brokerage. Violation of the code of ethics can result in some bad news including damage to the companies reputation, the destruction of the well-earned confidence of it's customers and clients, it's credibility and the image of the company. Heavy fines, penalties, and worst of all, prison sentences can round out the flogging. Needless to say, the operation of the company would be disabled, possibly beyond measure, which could result in it's collapse. These are … (10 comments)
david saks: Conflicts of Interest : Oh My Gosh !
- 04/22/08 09:40 PM
I know your sick of hearing about it. But it doesn't hurt to keep the old armour polished. We all know that there are many different types of situations that could lead to a conflict of interest and possibly a RESPA violation, the Real Estate Settlement Procedures Act, and we don't want that to happen, by golly. The most common conflicts of interest I can think of are those that involve accepting gifts from our suppliers or vendors, or having some ownership in one of those 'other companies' involving those suppliers and vendors. I suppose the bottom line … (12 comments)
david saks: Why Is Listening Difficult ?
- 04/22/08 09:15 PM
Listening to your client or customer shouldn't be difficult. I know that it can be. It's hard for me at times. I sometimes fail to hear what's embedded in the meaning of the language that's being transmitted to me. Sometimes I can jump ahead and predict what the client's going to say next, like a bad movie script. We ignore their body language and get sidetracked. Tolerating what they're saying is important. If what they're conveying to you is unclouded and lucid then it makes listening a great experience. Look for clarity. What are some problems you've encountered when listening to your … (5 comments)
david saks: Are You a Lingerer ?
- 04/22/08 09:01 PM
Do you linger around after you've gotten your buyer and seller to shake hands? How long should one linger around before the contract's been signed? Isn't the best advice "Go In...get it over with.....and get out"? You shouldn't run like the house is on fire...doesn't walking away, after everyone's signed, a bit too quickly arouse negative sentimentality or mawkishness? You've left the taste of insincere pathos in your clients mouth. Can social conversation kill the deal before the contract's signed? What are your thoughts? Many thanks to everyone for your input. … (14 comments)
david saks: The Incredible Power of Smiling
- 04/22/08 08:41 PM
A feeling of pride is automatically aroused in your client or your customer when you smile. People who can't smile can't make others happy. Smiling can give you better odds of closing the sale. When your customer or client tells you he doesn't like the house smiling is usually the last thing on your mind and on your face. Your beaten, frustrated, rejected. But what should you do? You should bear those pearly whites and smile with all your heart. That tells your buyer that you understand what their feeling and you can deal with their decision. It … (8 comments)
david saks: What Is Good Listening ?
- 04/22/08 08:13 PM
When you listen to your client or your customer you can sense their pride. They know they're being heard. The advantage is that you're learning and understanding their needs and removing many of the obstacles that might stand in the way of the cooperation you need. You're discovering their hopes, aspirations and cherished desires. It helps you guide your thought process in a positive direction. Listening can place you in the best position with your client or customer because you're demonstrating to them that you care about them, that you understand and appreciate their feelings, their problems, their … (0 comments)
david saks: Dead M.E.A.T.
- 04/22/08 07:44 PM
I had a sales meeting tonight and we were talking about how stupid the gas prices are, and how tough it's become on everybody. Not to mention how it's driving the cost of everything through the roof. One agent suggested that the big oil companies were conspiring to pirate the economy. I thought for a second and wondered: What if we boycotted the big oil companies? What would happen? So I came up with the "Dead" M.E.A.T." formula. Here it is: Dead M=Mobile E=Exxon A=Amoco T=Texaco I told the agent that, maybe, if the country boycotted the … (4 comments)
david saks: What is Property Tax ? : The Disadvantages
- 04/22/08 07:02 AM
Is is generally recognized that the disadvantages of any property tax are less obvious than the advantages? Taxation is never popular and there is no perfect tax. Economists have seen that any property tax advantages may also incorporate disadvantages at the same time (huh!). Because this form of taxation is pretty easily understood and transparent, the quality of the tax being inconsistent and lacking a harmonious uniformity can become amplified in the public point of view. This can be a problem and is. One of the perceived inconsistencies in the public mind is both that of the assessment which is an … (0 comments)
david saks: What Is Property Tax ? : The Advantages
- 04/22/08 05:30 AM
Are the advantages of property tax clear to you? Here are a few I've put together for your consideration: 1. It's the best form of locally generated revenue for local governments. 2. It's technically possible to maintain and administer under any ruling authority. 3. The revenue is a predictable source of income for the government. 4. It's cheap to administer. 5. The 'cost to maintain' yeild ratio is usually 2 percent or less. 6. It can become progressive if it's designed properly. 7. It's almost impossible to evade or avoid. 8. Collection success rates of around 95% are possible. 9. It's transparent, or easily understood. 10. The correlation between assessed value … (0 comments)
david saks: What Is Property Tax ? : A Simple Explanation
- 04/22/08 04:51 AM
Let's just say, for simplicities sake, that property tax, as most of us understand, is an annual tax on real property. It's founded on the concept of market value which, in it's most commonly perceived characteristic, is in proportion to the estimated value of the goods taxed, otherwise known as 'ad valorem' tax which is latin for 'according to value'. The base for the tax may be for the land only, the land and the buildings attached to it, or any substitution of the order of these factors. Let's, for the purpose of this explanation, restrict property tax to annual property taxes and exclude capital … (2 comments)
david saks: Expecting to Sell : What's the Secret ?
- 04/21/08 05:59 AM
The basis for this school of thought surrounding 'expecting to sell' is the premise that every sale is taken for granted. Do you believe, when you go in to your presentation, that there is absolutely no other thought in your buyer's mind other than buying the house? We know that the buyer's emotional condition, his or her mental postulation, at closing could be abnormal. If you argue, wander from the matter at hand, impose lots of inquiry, demonstrate doubts, question motives or appear negative, so will your buyer. You have to demonstrate, to your buyer, that you're positive and assertive, that your beliefs … (4 comments)
david saks: Buyer Fears
- 04/19/08 05:09 PM
What's the buyer thinking and why is the buyer afraid? I think I might have a line on what's on their mind: 1. Am I going to get my money's worth when I plop my bucks down for this pad? 2. Am I making a mistake in talking to this agent? 3. Is it a mistake to live in this neighborhood? 4. Should I wait a while because of this lousy real estate market? 5. Am I acting impulsively? 6. Is the seller honest? 7. Should I just hang on to my money and keep what I've got? 8. … (3 comments)
david saks: Are You A Closer Killer ? : Things That Kill Sales
- 04/19/08 04:48 PM
I put together a list of a few things I consider classic closer killers. 1. Diarrhea of the mouth. 2. Phony enthusiasm or having an overly eager appearance to deal with your customer. 3. Crappy presentations and being poorly prepared. 4. Crowding the buyer with a bunch of high pressure garbage. 5. Negativism. What are some closer killers that make you go bananas? In this day and age it makes sense to demonstrate all of the integrity and honesty you can bring into the process. One real estate agents negligence can and will reflect negatively upon the professional community at large. … (3 comments)
david saks: Enthusiasm
- 04/19/08 04:31 PM
I've always believed that enthusiasm is an indispensible quality that you've got to have to be a real estate pofessional. You need it to close a deal. I like being around agents that believe in themselves, believe in their customers, believe in their clients, believe in their products, believe in their company and believe that better days are here. They've been kicked when their down, driven back, told to go away, kicked out of homes and offices and their enthusiasm is stronger than ever. I know agents with so much enthusiasm that they could sell an air conditioner to an eskimo for the igloo in sub zero … (3 comments)
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