Careful Who's Giving Advice

Most people tend to give advice based on their understanding of our business, except for people who live, breath, talk and walk real estate everyday.

Choose your professional with care, then listen, and have trust. Great advice Margaret!!!

Great post!  We need to the professional that people trust for advice!

I have a copywriting client who is struggling with a listing client right now. First, another agent advised her that "He" could sell her house for $200,000 over market. Then, when he didn't get the listing, he brought a buyer with an offer $100,000 UNDER market.

On top of that, this homeowner has a boyfriend. The boyfriend sells furniture, so she takes his advice over someone who has been a top selling agent for more than 20 years.

I tried real hard to not be in the advice business when my grandson got here.  It's one thing if she asks.  But she's a nurse, she can take care of her baby and I just get to enjoy him.  And when it came to buying and selling she listened to my advice without fail.  

It's our job, I believe, to sell OURSELVES to the client enough that they respect us. If they don't believe in our capabilities, that's a bad sign. Sure my clients get advice from their near and dear, but the way they bounce it off me is asking MY advice on the advice.  I don't take it as criticism. 

Choose. Listen. Trust. That’s wonderful advice.

My favorite is the 93 year old Aunt from the East Coast giving advice and they havent sold Real Estate for 27 years  and have no idea what is what. But we must respect our Elders!

Bonus! I got to report 3 abc guys on here!!!

Most states have different laws when it comes to real estate.  Advice from a well-meaning family member in NY may not apply in Az!.  Some folks seem to think their 20-year-old experience applies today.  We all know we have many addendums and disclaimers added over the years to clarify various issues.

I give out very little advice to friends or family members unless they have hired me...and my experience working with family is less than stellar.  Seems that many (not all) are actually closet pro agents with a vast amount of knowledge on how to sell real estate either incorrectly or way too cheap...and they like it that way.  SO I stay away.  I also do not give friends or family advice unless they are a client.  

Other parents can't help but give advice to the newbies!  Same with the seasoned agents talking to the newer ones.  Sellers getting advice from friends who are NOT in this profession--why?!?!  Sometimes I am asked for my advice re: a friend's deal in another city or state--I always hesitate and usually just give some general thoughts if pushed.

So true Margaret Rome Baltimore 410-530-2400 !  Everyone has a friend, relative or whatever who is an expert in what we do.  Most times, they got their information online and are just passing it along.  And we all know where that goes.

Margaret Rome Baltimore 410-530-2400  No truer were written 

Great, thought-provoking post.  It's critically important to ask those in the know and work in the field, like you Margaret!  

It's particularly tough when the other "adviser" is a family member. I usually just ask the seller a few questions:

"how many years has that person been selling real estate"

"where have they been selling real estate"

"how many homes have they sold in the last year"

It doesn't always work, but it puts things in perspective for them.

Margaret Rome Baltimore 410-530-2400 
Excellent reminder that many opinions delivered from others can be worrisome to our Clients. And to us -- when we want to make a deal! All the best, Lynn

The thing about real estate is that it is constantly changing.  What may be a situation in one city doesn't factor in a different market.  When I tell my buyer clients that the Portland market is hot, they give me a vacant stare.  When I tell them that if every home that is in the MLS sold it would take 5 weeks, there is no relationship to these stats.  Hummn, I feel a blog coming on.....

Everyone has an opinion but those people are also sometimes entitled to be stupid about the whole thing lol.

Just like everything in life...you take advice from those around you and trust...BE that agent in those people's lives. 

This has been one of my biggest complaints my entire career.  it is even part of my "speach" to clients now.  "EVERYONE is an expert when you mention Real Estate... make sure you listen to the licensed professionals you hire"

The girl giving you a pedicure is NOT an expert in Real Estate or Mortgages!!

I worked in investment banks, exchanges and hedge funds prior to changing careers in Wall Street. They had Subject Matter Experts in a variety of areas of practice. We don't really have that in this industry- but it's clear when you do meet someone with a degree of expertise in real estate. When people spend some time talking with me, they realize I am in the sales profession- but I am more of an advisor rather than a salesman.  As an advisor, I have a great deal more credibility than I do as a sales person.