Latest / Success Is Not Convenient / Be Respected, Not Liked: What Sellers Really Want From Their Agent

Transcript

Be Respected, Not Liked: What Sellers Really Want From Their Agent · Success Is Not Convenient

0:00
SPEAKER_00: Hello, everybody.
0:00
SPEAKER_00: Welcome to another episode of Success is not convenient.
0:05
SPEAKER_00: This one's for all my realtor friends today.
0:07
SPEAKER_00: You know, it's been really kind of fun.
0:08
SPEAKER_00: I've been doing some videos and getting some firestorms on a few things.
0:12
SPEAKER_00: And so it's really kind of amping me up to stay in the real estate world a little bit.
0:16
SPEAKER_00: Plus, I think we get a lot of people that watch this uh podcast that are in the industry I'm in, which certainly makes sense.
0:22
SPEAKER_00: And so I decided to write some notes today on what sellers really want versus what real estate agents think the seller wants.
0:32
SPEAKER_00: I just want to share with you some things that I think are important for you just to consider.
0:37
SPEAKER_00: If we can help you make your time a little bit easier with a seller, then that's my goal today.
0:44
SPEAKER_00: So stop trying to make your sellers happy.
0:47
SPEAKER_00: That's really it.
0:48
SPEAKER_00: Like a lot of agents try to make their sellers happy.
0:51
SPEAKER_00: Start doing what it takes to get their home sold.
0:54
SPEAKER_00: And that's what the first thing I want to say to all the folks today is your job is not to be liked.
1:00
SPEAKER_00: Your job is to go in and get the home sold.
1:03
SPEAKER_00: A lot of people think, well, I have to be liked in order for them to list the home with me.
1:07
SPEAKER_00: And that's so not true.
1:09
SPEAKER_00: There is a major difference between what real estate agents think sellers want and what sellers actually need from their agents.
1:19
SPEAKER_00: Why do I know that?
1:20
SPEAKER_00: Why do I feel confident in it?
1:22
SPEAKER_00: I've sold over 2,000 listings myself.
1:26
SPEAKER_00: I've had a lot of success in this particular area.
1:28
SPEAKER_00: My company has sold well over 7,000 houses.
1:32
SPEAKER_00: And I've personally been involved with over 2,000 personal seller conversations to cause success in that particular area.
1:40
SPEAKER_00: So I might be qualified to help you with some things that I feel can help you help your seller.
1:47
SPEAKER_00: This is helping you help your seller.
1:49
SPEAKER_00: Okay.
1:50
SPEAKER_00: So too many agents really spend their time trying to make sellers happy and they avoid the difficult conversations and they just end up agreeing with unrealistic expectations and doing the activities that make it look like they are actually working hard.
2:06
SPEAKER_00: I'm going to say this to you again because I want to break it down.
2:10
SPEAKER_00: Agents avoid difficult conversations and agreeing with unrealistic expectations and doing the activities that make it look like they are working hard, but yet they don't ever get any results.
2:23
SPEAKER_00: Let me give you an example.
2:25
SPEAKER_00: Okay.
2:26
SPEAKER_00: I've had a seller, and I know that my agents have come to me with a seller who says, Well, my seller doesn't want a lockbox on the house.
2:31
SPEAKER_00: And so they do is they're so eager to get the listing that they just agree.
2:37
SPEAKER_00: And then I share with my agent all of the downsides to that decision.
2:42
SPEAKER_00: I've had those same requests in listing property, like, well, I don't really want a lockbox on my house.
2:47
SPEAKER_00: And you have to explain to them why a lockbox is important, but you also have to set a standard within yourself.
2:56
SPEAKER_00: And I have many times, when that has been asked, give an option that maybe I'm not the best realtor because I have to show them why putting a lockbox on their house is important.
3:06
SPEAKER_00: Now I don't want to get too much into detail about that, but how sure of yourself are you when you list a home?
3:13
SPEAKER_00: How sure on a scale of one to 10 that you're going to cause that home to sell in 30 days?
3:18
SPEAKER_00: And some of you I think might say to me, well, Bernie, I would sell that home within 30 days if the seller just paid attention to what the market was telling them.
3:28
SPEAKER_00: This is this conversation because I believe every house should sell in 30 days.
3:34
SPEAKER_00: And I think that the market tells us what we need to tell our seller, but yet we just don't do what we're supposed to do.
3:42
SPEAKER_00: But here's the question that every listing agent needs to ask themselves.
3:47
SPEAKER_00: Did the seller hire me to make them feel good?
3:51
SPEAKER_00: Or did they hire me to get their home sold?
3:54
SPEAKER_00: Let that one resonate a little bit.
3:56
SPEAKER_00: Did they hire me to make me feel good?
3:58
SPEAKER_00: Do I feel good because I took a listing?
4:00
SPEAKER_00: Or did they actually hire me because they were 100% confident that I could get the home sold?
4:06
SPEAKER_00: See, a seller may not always like what you have to say, but when you deliver the results and you communicate honestly with your seller and you demonstrate that you know what you're doing, you earn something far more valuable than just being liked.
4:23
SPEAKER_00: So the question is, would you rather be liked or would you rather be respected?
4:30
SPEAKER_00: See, you're trying to earn their respect.
4:33
SPEAKER_00: And I've said this for years to agents when they're like, well, Bernie, how do you say that?
4:37
SPEAKER_00: Like, why do you say it that way?
4:39
SPEAKER_00: What does the seller say when you say that?
4:41
SPEAKER_00: I said, what I do is I build respect.
4:44
SPEAKER_00: I'm not building likeness.
4:46
SPEAKER_00: Likeness is for most agents.
4:49
SPEAKER_00: Respect is for successful agents.
4:52
SPEAKER_00: So I'm going to say this to you again.
4:54
SPEAKER_00: If you're going in to be liked, you're likely to fail.
4:59
SPEAKER_00: If you're going in with a high level of respect, that you're looking at the knowledge you have and the experience you have, and the seller believes that they respect you for the information you give them.
5:11
SPEAKER_00: That's where the magic is made.
5:13
SPEAKER_00: So, what I want to do for you guys today is I want to give you 10 points to build your opportunity to become a really great real estate listing agent.
5:22
SPEAKER_00: Okay, so we're gonna talk about 10 points today.
5:25
SPEAKER_00: So, number one, sellers want an agent that they can respect, not just an agent that they like.
5:32
SPEAKER_00: And what agents think is sellers want agents who agree with them.
5:36
SPEAKER_00: Sounds good, doesn't it?
5:38
SPEAKER_00: It does.
5:39
SPEAKER_00: They think that, hey, I want somebody that complements their desires.
5:43
SPEAKER_00: Like my homeowner is in line with me because I'm in line with my homeowner.
5:48
SPEAKER_00: If you're a successful listing agent, you're most likely not gonna be in line with your seller.
5:54
SPEAKER_00: Let me say this to you.
5:55
SPEAKER_00: If you're a successful realtor, you're going to have many conversations with that seller that are not going to be in alignment with how they think today.
6:04
SPEAKER_00: You have to be willing to have tough conversations and try not to avoid confrontation.
6:11
SPEAKER_00: See, your job is not to make them feel good through the listing process.
6:15
SPEAKER_00: A lot of agents think, well, making them feel good is making them feel like I can get it done.
6:20
SPEAKER_00: That is such a misconception.
6:22
SPEAKER_00: By the way, let me just let me just pause here for a second.
6:25
SPEAKER_00: 84% of every licensed agent in the United States does not, does not sell a house in a year.
6:35
SPEAKER_00: None.
6:36
SPEAKER_00: No buyers, no sellers, nothing.
6:39
SPEAKER_00: 13% sell one to four homes.
6:41
SPEAKER_00: Now that means those two numbers calculated together says 97%, 97%.
6:48
SPEAKER_00: By the way, 97% of the people who watch this are in that category.
6:52
SPEAKER_00: Low-producing, likable agents that want people to like them because they actually think.
6:58
SPEAKER_00: And I've told my agents a ton of times, guys, you don't have to be liked, you just have to be honest.
7:05
SPEAKER_00: So the question I want to ask you is are you honest?
7:08
SPEAKER_00: What sellers are really looking for is an agent who has the confidence to lead, the experience to make the recommendations and the courage to tell them something that they actually may not want to hear.
7:21
SPEAKER_00: And when you have the courage to do that, you're going to create some sort of conversational confrontation.
7:28
SPEAKER_00: I want you guys to understand it is going to ruffle some feathers.
7:32
SPEAKER_00: And if you're not prepared for it, you're probably going to take the other side of that and then not be totally honest with your client.
7:39
SPEAKER_00: Agents, your job is not to win a popularity contest.
7:44
SPEAKER_00: Your job is to list and sell the house and tell the seller the truth to cause a result for it to sell.
7:52
SPEAKER_00: I love some of my agents, you know, they sit there and go, well, you know, my friends really, my clients really like me.
7:56
SPEAKER_00: They invite me to their house.
7:58
SPEAKER_00: I get to go over there for this or that or whatever.
8:00
SPEAKER_00: It's like, no, I mean, does your doctor invite you over to your house?
8:04
SPEAKER_00: Does your dentist, does the person that is your medical uh professional, do they invite you over for their kids' birthday parties?
8:11
SPEAKER_00: No.
8:12
SPEAKER_00: You're a professional.
8:13
SPEAKER_00: I'm not saying you shouldn't be a person who gets invited over to your client's house, but you have to do the job first.
8:21
SPEAKER_00: The best way for a client not to like you, the best way is to not sell their home.
8:29
SPEAKER_00: They love you when you list it, and they don't like you when they don't.
8:34
SPEAKER_00: So you have a very short window.
8:36
SPEAKER_00: So the question you want to ask yourself is what am I going to do between that time?
8:41
SPEAKER_00: From the time I start to the time we're done, what I do, what I do as the agent, not what they do, what I do is what makes the biggest difference.
8:50
SPEAKER_00: When you walk into a listing appointment, you're being hired as a professional.
8:56
SPEAKER_00: The seller is trusting you with one of their largest financial assets.
9:01
SPEAKER_00: And if you agree with everything the seller says, just because you want them to like you, you are not demonstrating strong leadership.
9:10
SPEAKER_00: You're not.
9:11
SPEAKER_00: As much as this could confuse some of you, you're a professional.
9:16
SPEAKER_00: If you go to the doctor and the doctor doesn't have great bedstein matter, but you need to see the doctor, you respect the doctor's diagnosed the problem and is giving you a solution.
9:25
SPEAKER_00: And that's really all we are.
9:27
SPEAKER_00: You are demonstrating that you are afraid of losing the listing when you just agree with them all the time.
9:32
SPEAKER_00: A seller may like you because you agree with them, but they will respect you because you know how to lead them.
9:40
SPEAKER_00: So they may like you, but will they respect you?
9:44
SPEAKER_00: And how they get respect or how you get respect from them is if they're confident that you'll lead them to the right decisions to cause the result that they're looking for.
9:53
SPEAKER_00: Being liked may help you get the listing, but being respected helps you guide the seller through the decisions required to get the home sold.
10:03
SPEAKER_00: Hope you guys are getting me here on this because this is, I think, one of the number one things that causes homes to expire is being liked versus being knowledgeable.
10:16
SPEAKER_00: I always try to tell my agents over here, you're just a consultant.
10:19
SPEAKER_00: You're reading the data and giving the information.
10:23
SPEAKER_00: We don't know in every case what a house is going to do.
10:26
SPEAKER_00: We have to guess at some level and then read the room or read the data and share that information with the seller.
10:33
SPEAKER_00: And the question you want to ask yourself is Am I giving the seller the right information?
10:37
SPEAKER_00: Am I telling them what they need to know?
10:39
SPEAKER_00: Number two, sellers want knowledge, not guesswork.
10:43
SPEAKER_00: What agents think sellers want for the most part is an agent who sounds confident, tells them their house should sell.
10:52
SPEAKER_00: And by the way, it'll sell quickly and gives them the listing price that they want to hear.
10:57
SPEAKER_00: How many of how many agents out there do you think go in at a price of a home, and then the seller wants more money for that property, and they just cave in like a cardboard box because they're more curious about taking the listing than they are on getting it sold.
11:13
SPEAKER_00: And I get it, I hear you guys.
11:15
SPEAKER_00: Well, Bernie, if I have the listing, I can do a price adjustment later.
11:18
SPEAKER_00: Fair.
11:19
SPEAKER_00: But are you telling them that?
11:21
SPEAKER_00: Are you saying, Mr.
11:22
SPEAKER_00: and Mrs.
11:23
SPEAKER_00: Seller, listen, I'm gonna take this listing over price because it's the price you want to have, but I have a price adjustment protocol that if it doesn't sell, that we need to bring this house price down to here.
11:34
SPEAKER_00: If you're being honest with them that you don't buy into their price, but you're willing to accept their price as long as they do a price adjustment on the home to your price within a short amount of time, then that's fair.
11:46
SPEAKER_00: But are you being honest with them?
11:47
SPEAKER_00: Or are you not saying it because you feel at some level that they're just gonna deny you and not sign the listing contract?
11:54
SPEAKER_00: See, what sellers really need and what they want to hear is an agent who understands the market, knows the competition, and studies the comparable sales and can explain exactly why they are recommending a particular price or a strategy for success.
12:10
SPEAKER_00: They're looking for that kind of honesty.
12:13
SPEAKER_00: So don't be afraid to be honest with your client.
12:17
SPEAKER_00: How many agents walk into a listing appointment and tell the seller, I think we can get this price for your home?
12:24
SPEAKER_00: What is that?
12:25
SPEAKER_00: I think we can get a price.
12:27
SPEAKER_00: What does I think mean?
12:29
SPEAKER_00: What does that word mean?
12:30
SPEAKER_00: I think.
12:32
SPEAKER_00: Have you studied the market?
12:34
SPEAKER_00: Have you looked at the active competition?
12:38
SPEAKER_00: Do you even understand the absorption rate?
12:41
SPEAKER_00: Do you know how long comparable properties are staying on the market?
12:45
SPEAKER_00: Like what's the length of time for that?
12:47
SPEAKER_00: Are you just guessing because you want to get the listing?
12:51
SPEAKER_00: Sellers don't need an agent who tells them what they want to hear.
12:55
SPEAKER_00: What they need is an agent who can explain what the market is telling them.
13:00
SPEAKER_00: Your knowledge should give the seller confidence to your recommendations and what your recommendations are based on facts, not opinions.
13:09
SPEAKER_00: Is this guesswork for you?
13:10
SPEAKER_00: And if you say yes, it's kind of guesswork, Bernie.
13:12
SPEAKER_00: I appreciate that.
13:14
SPEAKER_00: But tell your seller that.
13:16
SPEAKER_00: Listen, I uh what one of the things that I like to do, and I and I've used this and I can tell you, it is golden.
13:22
SPEAKER_00: I've said it on another podcast before.
13:24
SPEAKER_00: It is golden.
13:25
SPEAKER_00: There's three evaluations that are made on a house.
13:28
SPEAKER_00: There's the seller's uh opinion of price, there's the agent's opinion of price, and there's buyer's opinion of price.
13:38
SPEAKER_00: Which one of those three are the most accurate?
13:41
SPEAKER_00: By the way, it isn't the first two.
13:43
SPEAKER_00: So you're a guess based on comps and comparables, but the only one that really matters is the buyer.
13:49
SPEAKER_00: Not even the seller.
13:50
SPEAKER_00: The sellers are tied to emotion.
13:52
SPEAKER_00: Whatever that is, that's where they evaluate it.
13:55
SPEAKER_00: And I can tell you, I actually tell my sellers what I just said to you.
13:59
SPEAKER_00: There's three evaluation processes: yours, mine, and the buyers.
14:02
SPEAKER_00: Which one do you think is the most accurate and the one that matters the most?
14:07
SPEAKER_00: And it's only the buyer.
14:08
SPEAKER_00: And I tell the seller that.
14:15
SPEAKER_00: See, sellers need honesty more than they need kindness.
14:19
SPEAKER_00: What agents think sellers want, an agent who always is positive and never delivers disappointing news and avoids saying anything that might hurt the seller's feelings.
14:30
SPEAKER_00: That's what a lot of agents think.
14:33
SPEAKER_00: But what sellers really need is an agent who is communicative, tells the truth about the home's condition, pricing, the competition, all the buyers' feedback, all the changes necessary to improve the chances of the opportunity to selling the home.
14:49
SPEAKER_00: And that's the part that a lot of agents have a problem with is can you re totally honest?
14:54
SPEAKER_00: Let me give you an example.
14:55
SPEAKER_00: I had a listing.
14:56
SPEAKER_00: This was let's just go back probably seven, eight, nine years ago.
14:59
SPEAKER_00: I had a listing that was listed for 1.9 million.
15:02
SPEAKER_00: I did the comps and the comparables, and I thought it should be listed at about 1.3, 1.25 to 1.3.
15:09
SPEAKER_00: So I thought, okay, well, I'm gonna go in at 1.25 from basically 1999.
15:15
SPEAKER_00: So I had to bring the house down$750,000 on the listing appointment.
15:21
SPEAKER_00: I told the seller the truth and I said to the seller, I can't help you.
15:24
SPEAKER_00: I can't help you at$2 million, I can't even help you at$1.7, I can't help you at$1.5, I can't help you at$1.4.
15:29
SPEAKER_00: It's got to be listed for$1.25.
15:31
SPEAKER_00: That's the only price that makes sense for your house in this condition in this market.
15:36
SPEAKER_00: Do you think the seller was a little upset?
15:38
SPEAKER_00: Yes.
15:39
SPEAKER_00: But guess what happened?
15:41
SPEAKER_00: I walked with the listing agreement out of the house, went back, put it in the system, and sold the house in less than a month when it was on the market for eight months with another agent who couldn't be honest.
15:53
SPEAKER_00: And here's what's fun about this conversation, guys.
15:56
SPEAKER_00: I actually knew the other agent.
15:57
SPEAKER_00: And when I saw the agent after I had sold a house, they came up to me and they go, What did you do to get that price so far down?
16:05
SPEAKER_00: And I said, I told the homeowner the truth.
16:08
SPEAKER_00: And they said, Well, I had talked to them about the price before and they never moved on their price with me.
16:13
SPEAKER_00: Well, that's because you need to learn how to get people to understand what you're trying to say to them.
16:19
SPEAKER_00: I've had a hundred agents who have had other listings who have approached me over the years and go, How did you get that price down that I told them that and they didn't do it?
16:30
SPEAKER_00: How did you tell them?
16:31
SPEAKER_00: Are you skilled enough to have a good conversation that makes sense to that seller?
16:36
SPEAKER_00: Or are you just saying, Well, you need to bring your house down because nobody wants to buy it?
16:40
SPEAKER_00: If you're saying you need to bring your house down because nobody wants to buy it, that's the first indication why you're not successful.
16:48
SPEAKER_00: When you change the way you look at things, the things you look at change.
16:51
SPEAKER_00: And when you describe and you explain and you break down to a seller what the issue is, and you're not fearful of hearing the response, you can move the earth with the right conversation.
17:05
SPEAKER_00: The challenge, I think, for most is they don't know how to have those conversations.
17:08
SPEAKER_00: I want all the agents to hear there is a difference between being kind and being honest.
17:14
SPEAKER_00: And you can be both.
17:15
SPEAKER_00: But when kindness becomes the excuse to avoid telling the truth, you are no longer helping the seller achieve their goal.
17:23
SPEAKER_00: And if the home is overpriced, tell them.
17:26
SPEAKER_00: If the home needs repairs, tell them.
17:29
SPEAKER_00: If buyers are choosing competitive properties because they offer better value, tell your seller that.
20:48
SPEAKER_00: I got 116 listings.
20:50
SPEAKER_00: I don't have a problem making sure it all happens.
20:53
SPEAKER_00: I guarantee you, you can make it happen.
20:56
SPEAKER_00: One of the biggest mistakes listing agents make is putting a home on the market and then disappearing.
21:03
SPEAKER_00: Oh crap, you know, things don't go right, so what do you do?
21:05
SPEAKER_00: Right?
21:06
SPEAKER_00: Week two go by, week three goes by, oh crap, it's not selling, not getting showings.
21:10
SPEAKER_00: The seller hasn't heard from you at all.
21:14
SPEAKER_00: And when the seller finally calls the agent, says, Well, we haven't had much activity.
21:19
SPEAKER_00: I'm hoping things will pick up.
21:22
SPEAKER_00: Hoping?
21:23
SPEAKER_00: Like, what is hoping?
21:24
SPEAKER_00: Hoping is a guess.
21:25
SPEAKER_00: What's the solution?
21:27
SPEAKER_00: Hope is not a listing strategy.
21:29
SPEAKER_00: Establish communication with your seller and schedule before you ever put the home on the market how often you're gonna call them.
21:37
SPEAKER_00: Mr.
21:38
SPEAKER_00: and Mrs.
21:38
SPEAKER_00: Seller, by the way, for the first 14 days, I'm gonna call you every single day.
21:43
SPEAKER_00: Can I share with you why?
21:45
SPEAKER_00: Sure.
21:46
SPEAKER_00: Typically, when a house hits the market, the most activity happens then.
21:49
SPEAKER_00: And what I want to make sure is that you and I have a clear path to a level of success.
21:53
SPEAKER_00: Usually I'll sell a home within the first 10 to 14 days.
21:57
SPEAKER_00: And I want to make sure that we're crystal clear on what's going on.
22:00
SPEAKER_00: The market and I'm there to answer any questions for you.
22:02
SPEAKER_00: Would that be okay if I do that?
22:04
SPEAKER_00: Do you see what I did there?
22:06
SPEAKER_00: I just told them how long I thought it should take, 14 days or less.
22:10
SPEAKER_00: That's the things that I tell them.
22:12
SPEAKER_00: And I call them every single day for 14 days.
22:14
SPEAKER_00: Sometimes I call them every day for 21 days, trying to get a price adjustment, making sure that I'm fully active in the market.
22:20
SPEAKER_00: Call your seller at least once a week as a minimum.
22:23
SPEAKER_00: Even more often if circumstances require it.
22:27
SPEAKER_00: Tell your seller what you're going to do.
22:29
SPEAKER_00: Don't just list the home and go, gosh, you know, I didn't get any showings for a week.
22:32
SPEAKER_00: I don't want to sit there and call them.
22:33
SPEAKER_00: That's not responsible.
22:36
SPEAKER_00: As my mentor always said, when things like that happen, you're creating real estate malpractice.
22:42
SPEAKER_00: Shame on you for disappearing when the person hires you to sell the, and for most cases, the biggest investment that most people will ever have is their home, and you get afraid to tell them the truth.
22:54
SPEAKER_00: Think about this.
22:55
SPEAKER_00: Think about if you had somebody representing your biggest financial picture and then you disappeared or they disappeared.
23:03
SPEAKER_00: How do you think that's going to make you feel if that happened?
23:06
SPEAKER_00: It's not probably very good, right?
23:09
SPEAKER_00: Discuss with them all the time the showing activities, all the buyer feedback, all the competing listings that have hit the market since the house was listed by you.
23:19
SPEAKER_00: Show them all the recent sales and show them what your recommendation should ultimately do, even if they don't like hearing it.
23:26
SPEAKER_00: Even when nothing is happening, that is information your seller needs to know.
23:30
SPEAKER_00: You might sit back and go, well, gosh, we have any show-ins.
23:32
SPEAKER_00: What are we going to do?
23:33
SPEAKER_00: Agents come to me all the time in my team.
23:35
SPEAKER_00: Hey, Bernie, I've had this thing on the market.
23:36
SPEAKER_00: I pulled the comps.
23:37
SPEAKER_00: I comped it within the neighborhood, everything.
23:38
SPEAKER_00: I comped it like right below the market.
23:40
SPEAKER_00: And I haven't had any buyers coming to look at the home.
23:43
SPEAKER_00: What do I do?
23:45
SPEAKER_00: Reduce the price.
23:46
SPEAKER_00: Oh, well, we're at their bottom number.
23:49
SPEAKER_00: Well, what does that mean?
23:50
SPEAKER_00: Your job is to sell the home.
23:52
SPEAKER_00: You price the home.
23:54
SPEAKER_00: You price the home at a price that you thought the comparables would offer a buyer to make an offer.
23:58
SPEAKER_00: Even when nothing is happening, that information to your seller needs to be known.
24:02
SPEAKER_00: You have to give the information to the seller, regardless of how difficult the conversation is.
24:09
SPEAKER_00: Your seller should never have to chase you down.
24:12
SPEAKER_00: And I know some of you might go, no, the other Bernie, you know, that never happens to me.
24:16
SPEAKER_00: It happens to a lot of people because I list a ton of houses where they've expired and they go, I haven't heard from my agent in three months or four months.
24:24
SPEAKER_00: Well, of course, when it's not selling, agents tend to disappear because they don't want to confront them.
24:29
SPEAKER_00: Do you know how many homes I've listed where the sign was still in the yard?
24:32
SPEAKER_00: I pulled up, took the sign, or my runner did, took the sign out.
24:36
SPEAKER_00: We put a new lockbox on, the other lockbox is attached to the door or to the railing.
24:40
SPEAKER_00: We then go have the listing, sell it, close on it, and the sign is still on the side of the house, the lockbox is still on the door, it's been sold by another agent, and the agent never knew it.
24:51
SPEAKER_00: Think about how sad that is.
24:53
SPEAKER_00: The agent didn't even know their home expired because they never followed through on the relationship that they were paid to accomplish a goal.
25:01
SPEAKER_00: Number five, sellers need an agent who will recommend a price adjustment, not one who avoids this conversation.
25:10
SPEAKER_00: Guys, let's think for a second.
25:14
SPEAKER_00: We list a home.
25:15
SPEAKER_00: Let's assume you recommended the price.
25:18
SPEAKER_00: It's only a guess.
25:20
SPEAKER_00: You can't strongly recommend a price because you're not the buyer.
25:24
SPEAKER_00: I'm going to give you some words of advice.
25:26
SPEAKER_00: When the comps and the comparables and the CMA comparative market analysis, and you see these numbers and you're like, this house should sell for$500,000, and you tell your seller this house should sell for$500,000, you're giving them your opinion of what the house should sell.
25:43
SPEAKER_00: Your opinion has no value and no weight to the person who makes the offer.
25:47
SPEAKER_00: It's the buyer's opinion.
25:49
SPEAKER_00: So the$500,000 is based on what the numbers say the buyer was willing to pay the last three to six months.
25:55
SPEAKER_00: It doesn't mean that's what they're willing to pay today.
25:58
SPEAKER_00: And if the buyers don't show up to the house and they're not making an offer on the property, as my agents sometimes say to me, like, well, I don't understand why it's not selling.
26:06
SPEAKER_00: Because the comps don't really matter.
26:09
SPEAKER_00: The comps are a guideline between two areas that you're hoping it sells.
26:15
SPEAKER_00: The only one that matters is the buyer.
26:18
SPEAKER_00: The seller's irrelevant, the agent's irrelevant, and the buyer's the one that counts.
26:22
SPEAKER_00: If the buyer's not making an offer on the property, you've got a price issue.
26:27
SPEAKER_00: You asked to have any comments about it, I'd be willing to answer any questions you have.
26:31
SPEAKER_00: And if you want some scripts and dialogues around us, I'd be happy to answer any of these.
26:35
SPEAKER_00: What an agent thinks sellers want is an agent who supports their original asking price, gives the market more time, and avoids just suggesting a price adjustment because it just might upset the seller.
26:49
SPEAKER_00: We are going to upset the seller when they don't get the price they think their house is worth.
26:53
SPEAKER_00: Do you know how many sellers take less money for their home than they originally listed the home for?
26:59
SPEAKER_00: Most.
27:01
SPEAKER_00: Even if they're full price, there's closing costs associated with it.
27:04
SPEAKER_00: There's all these different expenses, there's um repairs that have to be done and expenses coming out of their pocket.
27:10
SPEAKER_00: A seller typically is not happy because they're taking less than they originally thought they would get.
27:16
SPEAKER_00: And that's understandable.
27:18
SPEAKER_00: But it's our job to bring reality to the conversation.
27:22
SPEAKER_00: What a seller really needs is an agent who monitors the market, recognizes when the current price is not producing the desired results, and then confidently recommends an appropriate adjustment when the evidence supports it.
27:39
SPEAKER_00: The question you want to ask yourself is how much time are you willing to give it?
27:43
SPEAKER_00: How much time do you need to see before you feel comfortable and confident that you can have this conversation?
27:50
SPEAKER_00: You can't avoid it.
27:52
SPEAKER_00: You just have to get to it.
27:54
SPEAKER_00: And as my mentor always said to me, go do the hardest stuff first.
27:58
SPEAKER_00: Because the longer it takes you to get it, the less interested you are at going deep in the deep water in that particular area.
28:04
SPEAKER_00: So just want you to keep that in mind.
28:06
SPEAKER_00: See, agents, I want you to think about this for a minute.
28:10
SPEAKER_00: How many times have you known that a home needs a price adjustment, but you just don't make that call?
28:18
SPEAKER_00: Think about that for a minute.
28:19
SPEAKER_00: You know it.
28:20
SPEAKER_00: And you avoid it.
28:22
SPEAKER_00: Why?
28:24
SPEAKER_00: Because you were afraid that the seller would maybe get upset with you?
28:28
SPEAKER_00: That you were afraid that they might just say no?
28:31
SPEAKER_00: You were afraid that they might blame you for the home that is not selling.
28:36
SPEAKER_00: I had a family member who sold a house in another state, and the agent came in and recommended a price of X.
28:44
SPEAKER_00: That house sold nowhere near that.
28:46
SPEAKER_00: And that family member would call me and I'd go, bring it down, bring it down, bring it down.
28:52
SPEAKER_00: And the agent that I knew supported me in that decision.
28:55
SPEAKER_00: But I didn't have any problems telling my family member, but the agent probably was a little apprehensive at telling his client.
29:02
SPEAKER_00: And ultimately the house sold, that's the good news.
29:05
SPEAKER_00: And ultimately, the family member moved and got to move and buy the home that they wanted to live in.
29:11
SPEAKER_00: And in the end, no matter how difficult it was, the family member still respected that agent for being honest and telling them the truth.
29:20
SPEAKER_00: And that's all I'm asking for us today is if we were more honest and we learn our scripts, our skills, our dialogues, and don't hide behind our fear.
29:28
SPEAKER_00: So instead of waiting a week and another week and another week, just get it done.
29:35
SPEAKER_00: Rip the band-aid off and just get it done, no matter how difficult it is.
29:38
SPEAKER_00: They'll respect you much much at a much higher level if you do that.
29:43
SPEAKER_00: The seller hired you to help them sell the home, not to protect them from making a difficult pricing decision.
29:50
SPEAKER_00: Let me say this to you again.
29:51
SPEAKER_00: The seller hired you to sell the home, not to protect their emotions, not to protect their frustration, not to protect their anger.
30:02
SPEAKER_00: They will go through all of that in most cases.
30:07
SPEAKER_00: If you're doing your job, the question is, can you handle it?
30:12
SPEAKER_00: They can, but can you?
30:14
SPEAKER_00: A seller who genuinely needs to move may be much more willing to consider a price adjustment than you think.
30:22
SPEAKER_00: Especially when you explain the market evidence and how the adjustment supports the goals they're trying to accomplish.
30:29
SPEAKER_00: See, I don't think this is a fair thing.
30:31
SPEAKER_00: I think this is a script problem.
30:33
SPEAKER_00: This is, I don't really know what to say when they come back.
30:36
SPEAKER_00: And that's understandable.
30:37
SPEAKER_00: The conversation that you are afraid of may be the very conversation your seller needs to have with you today.
30:43
SPEAKER_00: I always trained my agents, saying, you know, it's not really fair to the seller, and you're working really hard to try to help the seller, but you're not saying the right things.
30:51
SPEAKER_00: And so you work for four or five, six months for totally for free, and then you put all this time and effort, you didn't get any results, they didn't get any results, they're upset with you.
31:00
SPEAKER_00: You're blaming them because they wouldn't give you a price adjustment when you asked them one time.
31:04
SPEAKER_00: You didn't know how to ask them the right way, so you're out of stuck.
31:08
SPEAKER_00: And then the excuse we use is it's the market.
31:11
SPEAKER_00: I'm gonna ask my people that are watching this today.
31:14
SPEAKER_00: This is not a market problem.
31:15
SPEAKER_00: I don't care what interest rates are, I don't care how much inventory is out there.
31:18
SPEAKER_00: I hear it from agents all the time.
31:20
SPEAKER_00: It's that 97% that just don't do very well.
31:24
SPEAKER_00: Well, the market's just bad.
31:25
SPEAKER_00: No, you're just bad.
31:27
SPEAKER_00: Interest rates are high, that's why they're not selling.
31:29
SPEAKER_00: The interest rates have nothing to do with it.
31:31
SPEAKER_00: It's your skill.
31:32
SPEAKER_00: Guys, I'm telling you, we sell hundreds and hundreds and hundreds and hundreds and hundreds of houses every year.
31:37
SPEAKER_00: It is not a market problem.
31:39
SPEAKER_00: It's a skill problem.
31:41
SPEAKER_00: It's a fear problem.
31:43
SPEAKER_00: It's a doing our job problem.
31:46
SPEAKER_00: So just keep that in mind.
31:47
SPEAKER_00: Number six, sellers want results, not activities that simply look like work.
31:53
SPEAKER_00: What agents think sellers want is an agent who holds open houses, who posts on social media constantly, who distributes flyers and talks about the hard work that they're working on every day to get the home sold.
32:07
SPEAKER_00: Agents think that, but what sellers really want is an agent who uses an effective marketing strategy, and that might be just communicating with the seller at a high level, evaluates what is working and then makes adjustments based on the actual buyer's response.
32:21
SPEAKER_00: It's the buyer's response.
32:23
SPEAKER_00: If you just said the buyers are not accepting the price that we're we've we've been asking for the last seven to ten days, the buyers are telling us they don't like it.
32:31
SPEAKER_00: They may not be saying that in the feedback, but they're showing that based on their actions.
32:35
SPEAKER_00: Agents, let me ask you a question.
32:37
SPEAKER_00: If a home has been on the market for 45 days and has had multiple showings and hasn't received an offer, what is your next move?
32:46
SPEAKER_00: You might say, well, it depends.
32:48
SPEAKER_00: I can tell you I only got one move.
32:49
SPEAKER_00: 45 days, multiple showings, and no offers.
32:52
SPEAKER_00: I got a price problem.
32:53
SPEAKER_00: Probably have a condition problem, but it starts with a price problem.
32:57
SPEAKER_00: Do you tell the seller, let's do another open house this weekend to see?
33:01
SPEAKER_00: And that's the part that's frustrating.
33:03
SPEAKER_00: Instead of telling the seller that you need a price adjustment, we just go do another open house.
33:10
SPEAKER_00: Come on, guys.
33:12
SPEAKER_00: Open house doesn't change it.
33:14
SPEAKER_00: The price changes it.
33:16
SPEAKER_00: The communication changes the price.
33:19
SPEAKER_00: And if you don't communicate, then you can never change the price.
33:22
SPEAKER_00: And if you don't change the price, then you're forced doing these open houses.
33:25
SPEAKER_00: Or do you sit with the seller and just discuss why buyers are not choosing their home?
33:30
SPEAKER_00: That's so much easier.
33:32
SPEAKER_00: You can have a 15 to 20 minute conversation and get the seller to make some adjustments that make the biggest sense.
33:39
SPEAKER_00: And instead, you're out there hammering in your little, I'm moving an open house on Saturday from one to three, and you're putting the signs out early on Friday for a Saturday or Sunday open house, and then you're leaving your family, your kitchen, your wife, your husband on the cheek, you're saying goodbye to your kids, and you're sitting in an open house for two hours or three hours, all because you couldn't be honest on your opinion about the house to the seller.
34:05
SPEAKER_00: You giving up weekend after weekend after weekend doing an open house because you have a challenge of telling the seller the truth about the price.
34:13
SPEAKER_00: I asked one of my agents, I did a little hand raising in one of the trainings that I did, and I said, How many of you guys actually like doing open houses?
34:20
SPEAKER_00: One person actually raised their hand out of like 20 people in the room.
34:24
SPEAKER_00: And I said, How many of you people do open houses because you fear price adjustment conversations?
34:29
SPEAKER_00: And every one of them raised their hand.
34:31
SPEAKER_00: 19 out of, let's say, the 20.
34:34
SPEAKER_00: Tells you right there that you guys don't want to do them.
34:36
SPEAKER_00: You just do them because you don't know what else to do.
34:39
SPEAKER_00: I think that's fair.
34:40
SPEAKER_00: And one of my agents raised their hand, they're going, you know, Bernie, I gotta tell you, the only reason I do an open house is because I'm getting ready to ask for a price adjustment, and I don't want them to say, well, why don't you do an open house?
34:51
SPEAKER_00: I know some of you guys can relate to that.
34:53
SPEAKER_00: See, an open house may be useful in certain situations, but it is not a substitute for addressing an underlying price issue, a condition issue, or a marketing problem.
35:06
SPEAKER_00: It's not the solution.
35:07
SPEAKER_00: You still have the problem after the open house.
35:09
SPEAKER_00: You still have the price problem, you still have the condition problem, you might have a situation problem.
35:15
SPEAKER_00: I don't know.
35:16
SPEAKER_00: But the open house does never solve those problems.
35:19
SPEAKER_00: It just takes time.
35:21
SPEAKER_00: And finally, when you get fed up enough because it's not happening, you finally blurt out, you need to bring the price down.
35:27
SPEAKER_00: And then you got to endure the frustration the seller has because you waited too long to tell them.
35:33
SPEAKER_00: Activity does not automatically equal productivity, guys.
35:36
SPEAKER_00: Your seller doesn't care how busy you are, they don't care whether whether the work that you are doing is moving them closer to getting their home sold.
35:46
SPEAKER_00: Stop using activity to avoid accountability.
35:49
SPEAKER_00: They just want the house sold.
35:51
SPEAKER_00: Start measuring the results of your activities.
35:54
SPEAKER_00: Number seven, sellers want an agent who will lead, not one who expects the seller to make every decision alone.
36:02
SPEAKER_00: What agents think sellers want is an agent who lets the seller make every decision without offering strong recommendations because the seller owns the home.
36:13
SPEAKER_00: Like you're afraid, well, they're the owner, so they get to make the decisions.
36:16
SPEAKER_00: But you're the expert.
36:18
SPEAKER_00: When you go to visit a doctor, they don't sit there and go, Well, hey, listen, how do you feel?
36:22
SPEAKER_00: And what medications or what treatments would you like me to give you?
36:26
SPEAKER_00: What recommendations do you give me to help you?
36:29
SPEAKER_00: A doctor doesn't say that to you.
36:31
SPEAKER_00: And you have to look at it the same way.
36:33
SPEAKER_00: You're the professional practitioner here, or you're supposed to be.
36:38
SPEAKER_00: The seller needs advice from you no matter how difficult the advice might be.
36:43
SPEAKER_00: What sellers really need is an agent to provide clear recommendations, explain available options to them, and help them make informed decisions while respecting their authority as the homeowner.
36:55
SPEAKER_00: Have you ever heard of an agent say, well, it's your home.
36:59
SPEAKER_00: Whatever you want to do is fine with me.
37:01
SPEAKER_00: No, that is not the approach we should be taking.
37:03
SPEAKER_00: And I know many of you guys are going, oh, I don't do that.
37:06
SPEAKER_00: Yes, you do, because I have a bunch of them that do it.
37:08
SPEAKER_00: I met agents, I've met thousands of them.
37:11
SPEAKER_00: I've been in hundreds of thousands of agents.
37:13
SPEAKER_00: I've been, I've trained and taught agents, thousands of them, all around the country where I've been on stages talking about different particular things, and I talk to them about these types of things, and I hear it all the time.
37:25
SPEAKER_00: Of course it's their house.
37:27
SPEAKER_00: But why did they hire you?
37:29
SPEAKER_00: They hired you because you are supposed to understand how the real estate market works and you're supposed to understand what moves the needle.
37:38
SPEAKER_00: If we blame the market, we're not moving the needle.
37:40
SPEAKER_00: If we blame the interest rates, we're not moving the needle.
37:43
SPEAKER_00: Your job is a result-driven job, and that's it.
37:46
SPEAKER_00: You get hired and fired based on your level of success that you have.
37:49
SPEAKER_00: If the seller wants to list the home for$700,000 and the market evidence supports a substantially lower price than that, your job is not to simply say, whatever you want, you're the homeowner.
38:00
SPEAKER_00: Your job is to explain the competition, the comparables, the sales, the potential consequences of pricing the home too much.
38:09
SPEAKER_00: The seller makes the final decision, but the agent has responsibility to provide professional guidance to the seller.
38:17
SPEAKER_00: Don't confuse respecting the seller's authority with abandoning your responsibility to lead.
38:23
SPEAKER_00: That's important.
38:24
SPEAKER_00: We have a job to do, and that job is tough.
38:28
SPEAKER_00: I always say, you want a real feel good job, go work with buyers.
38:31
SPEAKER_00: You want a tough job, work with sellers.
38:34
SPEAKER_00: Because you have to learn a whole different skill set of skills.
38:38
SPEAKER_00: People are like, oh, well, it doesn't really matter, houses are houses.
38:40
SPEAKER_00: That's not true.
38:41
SPEAKER_00: Then you've not worked with many sellers.
38:43
SPEAKER_00: Sellers is always a challenge from start to finish.
38:45
SPEAKER_00: It's a blessing, it's a great opportunity.
38:48
SPEAKER_00: If you know the skills, you can do really great at this job.
38:53
SPEAKER_00: If you try to approach it like you do a buyer, you are gonna fail most of the time.
38:57
SPEAKER_00: And I know some of you guys go, well, Bernie, I do both.
39:00
SPEAKER_00: Fair, but at what level?
39:02
SPEAKER_00: At what level do you do both?
39:04
SPEAKER_00: Do you mainly focus on buyers because they're a feel-good, happy conversation?
39:09
SPEAKER_00: I've worked with buyers in my past, and I can tell you it's a feel-good relationship.
39:13
SPEAKER_00: Sellers are not always a feel-good relationship, it's actually a professional job.
39:17
SPEAKER_00: And you have to have a lot of skill to do it at a very high level, and that's what this video is about.
39:22
SPEAKER_00: Number eight, sellers want an agent who will tell them the truth about their home, not one who compliments everything.
39:30
SPEAKER_00: What an agent thinks sellers really want.
39:33
SPEAKER_00: An agent who tells them how beautiful their home is, compliments their decorating, avoids discussing anything that might negatively affect the buyer's interest.
39:44
SPEAKER_00: Oh, what a great color.
39:46
SPEAKER_00: What a nice wallpaper.
39:47
SPEAKER_00: Oh, that's fantastic.
39:48
SPEAKER_00: Oh, I love what you did with the kitchen, right?
39:51
SPEAKER_00: Just being a yes person.
39:53
SPEAKER_00: Don't do that.
39:54
SPEAKER_00: What a seller really needs is an agent who evaluates the home from a buyer's perspective and explains how it and explains how the condition, appearance, and presentation compare to the other properties that they're going to be competing with.
40:10
SPEAKER_00: We don't have to be a yes person.
40:12
SPEAKER_00: We can be a professional person.
40:14
SPEAKER_00: We don't have to be a liked person.
40:16
SPEAKER_00: We just have to be a respected person.
40:18
SPEAKER_00: Agents, when you're walking through a seller's home, you are not there to judge their personal taste.
40:23
SPEAKER_00: You are there to help them understand how buyers perceive a property.
40:29
SPEAKER_00: That's your job.
40:30
SPEAKER_00: This is what buyers look for, this is what they expect.
40:33
SPEAKER_00: Are you approaching it in that manner?
40:36
SPEAKER_00: The seller may love the purple bedroom, the outdated kitchen, and the carpet that they installed 20 years ago.
40:43
SPEAKER_00: Nothing's wrong with my home.
40:45
SPEAKER_00: And that's fine.
40:46
SPEAKER_00: There's nothing wrong with that.
40:47
SPEAKER_00: But if those features of that home, that outdated carpet, that outdated kitchen, that room color, if those features are creating objections from buyers, the seller needs to know that.
41:00
SPEAKER_00: And I I can't even tell you how many times I was like, well, I don't have a problem with that.
41:04
SPEAKER_00: I've never really heard anybody complain about the wallpaper or the flooring.
41:08
SPEAKER_00: Yeah, but they're not buying the house.
41:10
SPEAKER_00: If they're saying it's outdated, it's outdated.
41:13
SPEAKER_00: If they see it needs updating, then either update it or adjust the price so it makes it more appealing.
41:17
SPEAKER_00: The seller's emotional attachment to the home does not determine what a buyer is willing to pay for it.
41:23
SPEAKER_00: What the seller thinks the home is worth is not what the buyer thinks it's worth in most cases.
41:30
SPEAKER_00: Your responsibility is to help the seller see the property through the eyes of what the buyer would see.
41:35
SPEAKER_00: That may mean recommending repairs.
41:38
SPEAKER_00: You might be recommending staging or improvements or pricing different strategies that reflect the home's current condition.
41:45
SPEAKER_00: The sooner a seller understands how buyers perceive the home, the sooner they can make decisions that improve its marketability.
41:54
SPEAKER_00: Number nine, sellers want an agent who will have the difficult conversations, not one who disappears when things get uncomfortable.
42:02
SPEAKER_00: What agents think sellers want is an agent who avoids conflict, waits until the seller is ready to discuss the problems, and then tries to keep every conversation comfortable.
42:15
SPEAKER_00: What sellers really need is an agent who takes responsibility for communicating difficult information promptly and professionally, even when the seller may initially disagree and maybe even upset.
42:30
SPEAKER_00: Agents, understand this.
42:32
SPEAKER_00: Your seller may get upset when you recommend a price adjustment.
42:36
SPEAKER_00: They probably are not going to be happy with you.
42:39
SPEAKER_00: They may disagree with your assessment of their home condition.
42:43
SPEAKER_00: That's happened.
42:44
SPEAKER_00: They may not like hearing that a competing property offers buyer better value today.
42:50
SPEAKER_00: They might see something going, that's just a better house.
42:52
SPEAKER_00: It's nicer, it's painted, it's got a little bit different open floor plan, it's got a flatter backyard.
42:57
SPEAKER_00: Tell that to them.
42:59
SPEAKER_00: But that doesn't mean that you should avoid the conversation.
43:02
SPEAKER_00: Your job is to control the seller's emotional reaction.
43:06
SPEAKER_00: Your job is to communicate the information they need to make the right decision for themselves.
43:12
SPEAKER_00: Think about what happens when you avoid the conversation.
43:16
SPEAKER_00: The home sits on the market longer, the seller becomes frustrated, their moving plans may be delayed.
43:23
SPEAKER_00: And eventually they start questioning whether you know what you're doing.
43:28
SPEAKER_00: Oh, that's not a good thing.
43:29
SPEAKER_00: And a difficult conversation today may prevent a much bigger problem 30 days from now.
43:35
SPEAKER_00: The agent who is willing to have the uncomfortable conversation is often the agent who earns the seller's trust.
43:42
SPEAKER_00: See, number 10 here is sellers want an agent who will help them accomplish their goal.
43:47
SPEAKER_00: And if we get to number 10 and you guys hear this, all of the other hoopla, this is the one that matters.
43:54
SPEAKER_00: A seller wants an agent who will help them accomplish their goal, not one who simply gets the listing.
44:00
SPEAKER_00: What agents sometimes think is, you know, an agent who promises the highest listing price agrees with their expectations and tells them everything they want to hear secures the listing.
44:13
SPEAKER_00: What sellers really need is an agent who understands why they are selling, where they're moving, and why they need to be there and what must happen to them in order to accomplish the real estate goals that they've set out for themselves.
44:27
SPEAKER_00: Agents, the purpose of listing appointment is not simply to get a signature on a listing agreement.
44:32
SPEAKER_00: The purpose is to determine whether you can help the seller accomplish what they are trying to do.
44:39
SPEAKER_00: And if the seller needs to move to another state in 60 days, your pricing and marketing recommendations should reflect that timeline and that response that they need.
44:49
SPEAKER_00: If the seller needs a certain amount of money from the sale of the purchase of their home, you need to understand that financial requirement.
44:57
SPEAKER_00: And sometimes what they ask for and they think they need, it's more of a want.
45:03
SPEAKER_00: And it's your job to dig into that a little bit.
45:06
SPEAKER_00: Sometimes agents will come to me and go, I can't believe you actually asked them that question.
45:09
SPEAKER_00: I have to, I have to know.
45:11
SPEAKER_00: Because I can't help them unless I know the answers to these questions.
45:17
SPEAKER_00: See, and if their expectations are not supported by the market, you need to discuss that before taking the listing.
45:24
SPEAKER_00: If they have such high expectations and it's not realistic, explain it to them.
45:29
SPEAKER_00: And if they aren't willing to adjust it, walk away from it.
45:33
SPEAKER_00: Because you can't help them and you're not going to be able to help yourself.
45:36
SPEAKER_00: Getting the listing is not the same as getting the home sold.
45:39
SPEAKER_00: And you can win the listing by telling the seller what they want to hear.
45:43
SPEAKER_00: But if you cannot deliver those expectations, what have you really accomplished?
45:47
SPEAKER_00: The goal is not to have the most listings.
45:49
SPEAKER_00: The goal is to help your seller successfully sell their home.
45:53
SPEAKER_00: Aegis, I want to leave you with this one final thought.
45:57
SPEAKER_00: Your seller did not hire you to be their friend.
46:00
SPEAKER_00: They hired you to be their real estate professional.
46:03
SPEAKER_00: They hired you because they believe you have the knowledge and experience and the ability to help them accomplish this very important task.
46:10
SPEAKER_00: But too many agents are so concerned about being liked that they forget that they are hired to do a job.
46:18
SPEAKER_00: And they avoid the pricing conversation.
46:21
SPEAKER_00: They don't communicate when the news isn't good.
46:24
SPEAKER_00: They agree with unrealistic expectations and they recommend another open house when what the seller really, really needed was a price adjustment.
46:34
SPEAKER_00: And they allow their fears of confrontation to interfere with the responsibility to the seller.
46:41
SPEAKER_00: I'm going to say this to you again.
46:43
SPEAKER_00: They allow the fear of what not to say and the and avoiding confrontation.
46:49
SPEAKER_00: They let that fear interfere with the responsibility that they have to the seller.
46:55
SPEAKER_00: Agents, your seller may not like everything that you have to say.
46:59
SPEAKER_00: But they should always know that you are telling them the truth and working in their best interests each and every day.
47:07
SPEAKER_00: When you tell a seller that their home needs a price adjustment, they may be upset with you for that day or even that week.
47:16
SPEAKER_00: When you explain that their home needs an improvement, they may not like hearing that.
47:22
SPEAKER_00: When you tell them that the market is not responding to their asking price, they may become a little bit frustrated with you.
47:31
SPEAKER_00: But when you back up your recommendations with facts, communicate constantly with them and help them accomplish the goals, you give them a reason to respect you.
47:42
SPEAKER_00: There's the respect, not the like, but respect.
47:46
SPEAKER_00: And when the home sells, they look back and they realize that the conversations they didn't want to have were some of the most important conversations of the entire selling process.
47:58
SPEAKER_00: Don't be the agent who tells sellers what they want to hear just to get the listing.
48:03
SPEAKER_00: Be the agent who has the courage to stand up and tell the sellers what they need to know to get the home sold.
48:10
SPEAKER_00: Because your reputation isn't built on how many sellers that you make happy during the listing appointment.
48:16
SPEAKER_00: It's built on the trust you earn, the promise you keep, and the results you help your clients achieve.
48:23
SPEAKER_00: Guys, I want to say thank you.
48:25
SPEAKER_00: I know this is a tough one for some people to hear.
48:28
SPEAKER_00: It's a frustrating for me at some times too when I talk to realtors and I see what goes on.
48:32
SPEAKER_00: And it's really fun when I'm driving with my family or my wife to go to a nice lunch or do something on a Saturday or Sunday, and I see a realtor out there in their car with their hazard lights on and they're pounding in their little open house sign.
48:45
SPEAKER_00: And I'm like, man oh man, there is an agent that really could not have a tough conversation with their seller.
48:53
SPEAKER_00: Don't be that agent.
48:54
SPEAKER_00: Hope everybody has a great day.