I get soooooo much junk in my inbox. In real estate, there is a class or program for everything. Most of it is how to get more leads. That is the big one. I have always thought that if Realtors would spend as much time being good at their jobs as they do trying to be on the first page of google, people would come to them. Speaking of which, I am on the first page of google for a lot of things, but I have done it accidentally. Hopefully everything has to do with real estate. I read other agent’s blogs sometimes and am amazed that they write about the best cupcake place in town, or a day at Keeneland, or their newest listing. Don’t know about you, but if my dentist had a blog, I wouldn’t go there expecting to see a post about eradicating crabgrass from my lawn. Or if my accountant had a blog I wouldn’t expect a post about the best place to have LASIK surgery……Sorry to get off track here, but I’ve been waiting to say that for a while.
Back to the class thing. Now I am all for education. I learn stuff everyday and really like it. What I am getting at here is that all these courses I have seen just give you information, but they don’t teach you how to use it. Especially designations. Agents are pretty much just playing Wheel of Fortune and buying letters: CRS, C-CERC, ARB, etc (etcetera, not another designation!) I think what we are needing is something to teach agents how to think. Guess I call that wisdom…..putting the info you have to good use. If Yoda were a Realtor, he would tell you to use the Force and “Search your feelings, you know it to be true.”
Things are changing everyday in real estate. You can’t just default to what worked in years past. For example, in the boom days, you would, as a default, use multiple offer situations to force a good deal for your seller. Now I think it can actually hurt you to boldly proclaim to a buyer’s agent that there is another offer on the table and they have an hour to give you their highest and best offer. I have seen several times recently where one buyer will say “I’m not going to get into a bidding war,” then walk away. One of my buyer’s recently said just that. I think what a listing agent in this situation needs to do is look at this like chess…..If I do this, then what will happen? If it goes this way, what will likely be next, if it goes that way, what do I think will result. I am not that good at chess, but I totally respect the fact that the good players have the next several moves planned way in advance. That is thinking!
I’m in a deal right now where we made an offer, and another offer was going to be coming in. My peeps wanted the house, so we went up a little. We were doing a good job at thinking things through. We decided to check the box on the contract that says we want an inspection, but we won’t ask for repairs. We also left the closing date open for the seller to pick. Why did we do this? The seller was an elderly gentleman who had recently lost his wife and was moving in with family. We thought that making it simple and easy for him would appeal to his family more than top dollar. The other agent (who is one of about 10 in Lexington that I think is any good) was also thinking too. See, he didn’t wait around forever to get the other offer. He knew we had a good offer and didn’t want to risk losing us. A bird in hand is better than two in the air as they say…..whoever they are. The seller took our offer. That was a wise decision in today’s market.
Each deal is unique because of the people involved. The more info you have about the other party can really help you to come up with a good strategy, but you have to use wisdom to know what to do with all the info you have collected.
I think it would be cool to have Yoda for a Realtor. You’d have 900 years of wisdom and experience. He’d be like “Remember selling this land on Richmond Road to Henry Clay, I do.” He could sense if the house was right for you, “Knew you would not like Hamburg traffic, I did.” And most importantly, he could use his lightsaber during negotiations to get you the best deal.