Pre-vacation, I wrote a "to be continued" blog about avoiding burnout by refusing to accept responsibility for stuff that isn't your responsibility, specifically in a real estate transaction. I promised to share some ideas for putting this philosophy into place that don't alienate the other party, who in all likelihood isn't trying to be difficult. And could end up being a fantastic client with a workable deal.
The first trick to respectfully declining your clients' monkeys is to know which monkeys are appropriate to decline. And which are rightfully yours to carry. Yes, when our clients hire us, they have a right to expect us to take on some of the burden of their real estate transaction. Entering into a real estate agent/client relationship creates responsibilities on each side. The clearer you are on whose responsibilities are whose, the easier it will be to assign them to the appropriate party.
Put another way, what factors of the transaction are within your control, which are within your client's control and which are out of either of your control?
• the services you are willing to provide
• the marketing you are willing and able to do
• the price at which you are willing to take a listing
• whether or not you will take a short-sale listing
• the times you are available to your buyer
• the expertise you have in advising a seller how to prepare for market
• the resources you have in place to help a seller prepare for market
• your willingness to show short sales, foreclosures, FSBO's or new construction
• how often you will communicate with your client
• how much you charge for your services
Your client controls:
• the price he is willing to list and sell for
• how much he is willing to "come to the table with" if he's upside down in his mortgage
• whether or not he's willing to short-sell
• the amount of work he is willing to do and the funds he has available to prepare for market
• the times he is available to look at houses
• what marketing services he will require from his agent
• how much he is willing to offer on a home
• whether or not to allow unrestricted showings
• whether or not he wants to pursue short sales, foreclosures, FSBOs or new construction
• whether or not he is happy with the inventory in his price range
• how much he is willing to pay for real estate services
Neither of you controls:
• changing lending requirements
• overall market activity
• the cost of home maintenance and repair
• interest rates
• closing costs
• the underwriter
• the agent on the other side of the deal
• the buyer or seller on the other side of the deal
So, how are these "control" issues relevant to getting the various monkeys assigned properly? Any thoughts?
The 2009-2010 Winter of Soul Cometh!