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💫It Isn't Our Fee, Or What We Do-It's WHAT-AND WHO- WE KNOW💫

By
Commercial Real Estate Agent with Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker AZ BR 528507000

Truth be told, I don't go out on many listing appointments where whether I will secure the listing is in question, thanks to years of networking and connections reverberating out into space. 

When a seller prospect asks, "What will you DO for me to earn your fee?", of course we discuss a customized marketing plan for that client and property, and all the essentials.

BUT.

It never was, isn't and never will be about WHAT WE DO.

This is a 'Me Too' biz, and although our approach is somewhat different than many, all of the obligatory and required elements for marketing, representation, negotiation, transaction management are all present . . .

Our value was, is and always will be in
WHAT-AND WHO-we KNOW.

Example: as a part of the pre-listing due diligence I ALWAYS conduct, I ALREADY CHECKED with power company engineering (you GOTTA GO to the guy who puts those power lines IN - NOT the bimbo at a desk looking at a map they can't read) about a property's proximity to 3-phase power, and the distance made the cost excessive in relation to the property value. Buyer's agent was informed, but bimbo part deux  let it go in one ear and out the other -  letting buyer think for some reason they could 'negotiate that cost' with the power company LOL!
(can't make it up!)

Wasted 2 weeks of everyone's time on a smoke-filled vision when they could have simply contacted the engineer first, AS I DID -- and moved on to another property (or looked into phase convertors as a possible option).
Do you want YOUR agent making such time-sucking errors? 

(tap tap tap - is this thing on?) 

 

We know who sucks at inspections, surveying, soil testing, well and septic and roof certs - and who is fabulous.


We know who can fix a leak, not charge a fortune and do a great job quickly.

 

We know the right people at City and County, Fire and Environmental Health and direct numbers to the local utility company angels, to bypass bureaucracy and get approvals on occupancy and other permits in a hurry. Others will suffer a CSR at a call center who knows NOTHING about what needs to be discovered. 

 

AND . . . we probably already know who would be interested in your property.

Another example: a client came to me for help. A local politician friend of his REALLY REALLY wanted a property that was in multiple offers. I knew the listing agent really well - convinced her to appeal to seller to seriously consider our (excellent) deal and we would make their life easy - and she knew I would. We got it, and a good time was had by all.

 

You don't get to do that without connections. Is it fair? NOPE. Is life? Deal with that!

 

So before you hire the discounter whose only skill is in racing to the bottom, consider this.

 

It truly IS who you know! 

Featured Photo by Vladislav Klapin on Unsplash 

Second Image by PublicDomainPictures from Pixabay

Comments(13)

Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Good morning, Candice.
I disagree with you. It IS fair. Everyone has the same opportunity to gain the same knowledge and get to know the people who have the answers you need and make the decisions. It's all out there for anyone who has the gumption to get get it. 

BTW: Bimbos come in both (I mean ALL) genders. 😂

Jul 27, 2023 07:15 AM
Candice A. Donofrio

You're right . . . the opportunity exists for ALL practitioners of our craft to master it, with effort and discipline! 
And as for bimbos . . . I used 'they/them' deliberately 😀

Jul 27, 2023 07:57 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

What a fun video from when SNL was actually funny Candice A. Donofrio . I enjoyed the points of your post Candice as they are all true. Regretfully some Buyers could care less, they just want a pretty face.

Jul 27, 2023 07:22 AM
Candice A. Donofrio

Or BS story . . . LOLLL

yeah SNL was SOOOOO funny then! 

Jul 27, 2023 07:58 AM
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
The Grit and Gratitude Agent

Many people confuse the what with the how.  The how is actual execution. Great post.

Jul 27, 2023 08:08 AM
Candice A. Donofrio

💖 thank you

Jul 27, 2023 08:14 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Amen to that, Candice! I always say that experience matters... it's the experience that gives us the knowledge of who and what. 

Jul 27, 2023 08:21 AM
Candice A. Donofrio

Yep, a LOTTA trial and error! Phew so much trial and error! 💯

Jul 27, 2023 08:22 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Love the video, and yes, it is about who we know very much. If an agent knows a deal is going to go smoothly with you over others, they will gently suggest yours as the better deal.

Jul 27, 2023 02:08 PM
Candice A. Donofrio

Reputations matter! 

Jul 28, 2023 06:40 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Well we might disagree on part of the post, I have earned my reputation of being a land seller in California, 27 years of being successful... I do not go on listing appointments, clients reach out to me and want me to represent them.... and when I tell them what I think the property is worth either they agree with me or they do not.... I do not bring up commission until I know they know I earned it with my knowledge.... since this is a public forum I cannot and will not discuss what my commission is... is you would like to know reach out to me privately but all I can tell you is I charge more that what you see in the MLS from other agents...Endre

Jul 27, 2023 11:13 PM
Candice A. Donofrio

I agree with ALL that!

All of it. LOL

Jul 28, 2023 06:42 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have never enjoyed going out on listing appointments and competing with others either.  Luckily, most of my listings over the years were from referrals or repeat clients.

Jul 28, 2023 05:19 AM
Candice A. Donofrio

Yup, I haven't gone on one of those type appointments in many years.

Jul 28, 2023 06:43 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

First of all, I never saw that video clip - too funny.

As for real estate, what and who we know is so important - and when hiring an agent, we should be looking for one who knows who to call and what to do!

Jul 28, 2023 05:46 AM
Candice A. Donofrio

💯 !!!

Jul 28, 2023 06:44 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good afternoon Candace,

I LOVE this post! It truly is "Who" you know and your connections that make you the listing agent to call, if you want to get top price and the best buyers. Knowing how to present a home (helping the seller with trusted vendors including stagers, the HOA architectural boards, country tax office etc.), price it right and market it to the right audience always is the key! The opportunity exists for ALL practitioners of our craft to master it, with effort and discipline!  I'm listing a home that will be on the first of September and noticed the seller never filed for the homestead exemption!! That is a huge savings on property taxes and they have not taken advantage of it since 2015!! I told him to apply RIGHT now and he could possible recoup back property taxes for 2 years! He filed and received a refund on 1 year but since he was already half way 2023 he will just get a reduction on this years property taxes.

Jul 28, 2023 12:50 PM
Candice A. Donofrio

I'm listing a home that will be on the first of September and noticed the seller never filed for the homestead exemption!

🏅🏅🏅 good girl! You definitely showed your value there!

 

Jul 28, 2023 12:59 PM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

Spot on. I am much newer in the business compared to so many of the other regular active rain posters - with just 7.5 years in the business. That said- I was a condo board President and set my building up from insolvancy to healthy before I changed careers in real estate- so I entered the business in many ways more experienced than a lot of other agents with years of experience. One of my first clients was a paid Zillow lead for $185k income restricted co-op. That client ultimately spent about 10 times more than that lead was initially for- and I will be listing at least one of her investment properties in the fall, and helping the extended family with a $5m multifamily purchase. Why? Because I exhibited that I had extensive knowledge years ago that they hadn't seen in other agents (and they have a few investment properties plus a member of the family worked for a real estate publication and had the opportunity to meet the top performing agents on a routine basis)- yet they still chose me because of my knowledge.  Much of my business these days is now referral and an increasing percentage is repeat business from closed clients. As a neighborhood expert in an area that few agents in my firm are knowledgable on- I expect I will have a lot of joint listings with colleagues in the coming years- as management has been recommending that if an agent has business in my area that they speak with me first- whether it's a 5 minute consultation, or a possible joint listing.   

Jul 28, 2023 03:37 PM
Candice A. Donofrio

Excellent! This is not a sales business, it is a resourcefulness business. And a trust business.💯

Jul 28, 2023 04:08 PM
Candice A. Donofrio

I was a condo board President

And that is a part of your niche, right? So it makes sense that you would be able to hit the ground running.

Jul 28, 2023 03:43 PM
Adam Feinberg

Candice A. Donofrio Yes- you are correct. There are buildings that have a lot of problems- and because of my background- I know what's involved  in trying to turn these buildings around. There are a lot of buildings I would be hesistant to recommend to a buyer if I know the building either was poorly constructed or has been mismanaged- unless I know the buyer is ready for sweat equity and serving on the board to turn it around (and the low price reflects the financial investments needed to turn the situation around). 

Jul 28, 2023 03:57 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Great points in this post. And, I did enjoy SNL back in the day when Steve Martin was featured.

Jul 28, 2023 04:50 PM
Candice A. Donofrio

They were all so genuinely funny!

Jul 28, 2023 05:33 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
The best agent in Southern Utah!

Bimbo Part Deaux…LOL! When is the sequal, BB?

Jul 28, 2023 05:24 PM
Candice A. Donofrio

Dear God LOL please let it be a one or two hit wonder!🤣

Jul 28, 2023 05:32 PM
Wanda Kubat-Nerdin - Wanda Can!

I just realized you are 500 points away from 1MIL points, BB. 🥳

Jul 29, 2023 10:53 AM
Candice A. Donofrio

Yeah I ran my mouth all the way to MM status! 💖

Aug 20, 2023 06:52 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Isn't it nice to get listings that people are eager to give you because they know and understand your value

Aug 20, 2023 06:13 AM
Candice A. Donofrio

This is why I always say (esp to new agents) have multiple income streams so you don't NEED the deal. I'm picky about who I take and I value them so much . . . anyone who doesn't value me back can go elsewhere. We like a happy shop around here!

Aug 20, 2023 06:54 AM