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Posts Tagged ‘professionalism’

Your Real Estate Agent Did WHAT?

Friday, April 20th, 2012

Real estate agents or any professionals, take heed: Do you edit everything you send out? Do you read EVERY document the other side sends over involved with a sale? Do you read the contract (even better yet, have you EVER really read the contract in it’s entirety)?

In the real estate profession, as well as many others, there are those who are detail oriented, those who are completely sloppy, and just about all kinds of people somewhere in between. But it will never cease to amaze me when agents do not check their work product before sending it out. There is absolutely no excuse, as you are dealing with contracts that have legal ramifications.

If you represent somebody in a legal transaction, you better make sure you do the following – not only is the risk of a lawsuit great, but your entire reputation is on the line. As an agent, you are required to represent your clients to the best of your ability. If you cannot do so, you may need to seek another profession.

Representation Basics:

1.  Read. This is so basic a requirement, yet it never ceases to amaze me how many agents do not read contracts, both before and after they have written them. First of all, if you have never read the required forms, you should! Once you have filled it in on behalf of a client, make sure you go over it with a fine tooth comb and fill in items you may have missed, change those that need changing, etc. If you forget to check or uncheck a box, it could cost your clients money, heartache, loss of a sale or subject them to a lawsuit. They are trusting you!

2.  Explain. It is important to go over the contract with your clients before and after it is written. Explain to them what the terms mean, and make sure that you have conveyed their wishes properly.

3.  Proof/edit. This instruction applies not just to a contract or other document you have written, but to everything you do. I am often dumbfounded by some of the marketing pieces I receive in the mail from real estate agents – typos, improper grammar, unfocused photos, blurry words…I would never send anything out like that! Even some big agents in my area do, and it usually makes me both laugh and feel angry…after all, it doesn’t raise the bar too high for the rest of us, does it?

4.  Put all communications in writing. As a lawyer I know how important this is – even if your client is your family member. If you have a conversation with a client, make sure to send a message referencing what you discussed, and keep all communications in an email folder. If anything happens down the road, like a lawsuit, this is the only way you will be able to prove what was discussed.

5.  Admit when you don’t know the answer, and get help or advice! It is ok to not know the answers sometimes – we all face this issue, and we are only human. Admit that you do not know and then find someone who does. This applies to tricky situations too, where you have to make a call. Getting the feedback of another whom you trust (like your broker, or if you are the broker, another trusted broker or attorney) could be a major difference in the outcome. The California Association of Realtors (C.A.R.) has a free legal hotline for members, as most associations do – take advantage of it.

6.  Do your homework first. No matter what you do you need to investigate before submitting any offers, taking any listings, or venturing into a short sale or lender owned property. Contact your title representative and find out if title is clean and find out about liens on the property. Contact the listing agent and make sure s/he knows what they are doing if it is a distressed property. Pull up the assessor record. Don’t ever jump into something blindly without knowledge of what you may be getting into – it simply isn’t fair to your clients.

7.  Always act professionally. This applies not only to your interactions with your clients, but also to fellow real estate agents and brokers. There are too many people in many industries who do not treat others in a professional manner. Eventually you will sink yourself with a bad rap if you can’t be a true professional. Real estate agents all know whom they don’t want to work with in their area…you don’t want to be that person.

As in any profession, there are always bad seeds who will tarnish things for the group as a whole, but if we all make sure that we do right by our clients, colleagues and by ourselves, we will not only make others happy, but we will also feel happier and have a productive career.

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Realtors Who Don’t Do Their Job

Wednesday, August 17th, 2011

Like most hardworking Realtors, I look through MLS listings daily, and often I am surprised at what I see Realtors doing. Here are some of the things that really make me wonder whether the seller knows things could be better, that they deserve more, and why the agent is doing business in that way.

Know the facts! If you take a listing, make sure you verify all the facts before publishing it to the MLS. I showed a home last year that had the wrong zip code/city listed. My client had asked about a home in a particular neighborhood, and it was not coming up in local searches of the neighborhood. If your home has a “peek” as opposed to a view, be honest about that. If you don’t know something and cannot find out, state in the listing that the answer is not known. I have seen all kinds of data mistakes over the years, so it is imperative to be careful.

Listing photos: Every agent should use a professional photographer to take photos of a listing. There are a few exceptions, but the majority of properties just show better if a professional photographer takes the shots. Lighting and special lenses make a huge difference. Today I saw a few listings that had pictures that were blurry, dark and just hard to see. This does no justice to the property, and there is evidence that buyers who look online will not click on listings that have bad photos, or only a single photo. The money you spend on a photographer who can also provide a virtual tour (people love videos) will pay off.

Using comments to create a sense of urgency:  “This one won’t last” and “hurry” may seem like a good idea to some, but this type of posturing wouldn’t make me want to see the home, especially in a buyer’s markets. Instead, you want to use descriptive language to really highlight the home’s features and make the buyer feel that the home is special. If the home sits for a while with no bites you may want (aside from a possible price reduction) to change your descriptions.

Typos and grammar: Maybe it’s the writer in me, but when I see a listing with grammatical errors and spelling mistakes I cringe. If I were the seller I would NOT be happy if my home were listed in this way. Seriously, if you cannot proofread, or if English is not your first language, please have someone proof your comments for you before you post the listing to the MLS! Not only are you doing your seller an injustice, but you are also making yourself look unprofessional.

Some photos have an expiration date: If you listed a house before Christmas and you have photos of the living room with the Christmas tree and stockings, there comes a time to take new photos. No one should see that tree or snow in the yard in August. Again, it’s not helping your seller or your reputation.

List and pray technique: As the majority of us know, if you have a listing you can’t just put it on the MLS and hope to get offers. Believe it or not there are many agents who do this! This is a blatant failure in client representation, and in my eyes it is a breach of the duties we owe our clients. A client recently told me he “knows that listing agents don’t really do much.” Well, I don’t know about you but if I got paid for the time I put into each listing I would be a happy camper. An agent should be working his/her tail off to sell a listing. It involves not only money but a lot of time, hard work and creativity. Sellers should realize they deserve this – they are paying for it!

There are slackers in every profession, and there are those who are successful but seem not to work too hard. I believe that you are only as good as you feel – if you can truly believe that you worked as hard as you could to help a client, you are doing the right thing. If not, learn from your mistakes and do better next time. There is always something to learn, and always ways to improve.

 

 

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Open a Checking Account, Get a Free Foreclosure

Tuesday, June 28th, 2011

Sound unbelievable? I actually borrowed the words in the headline from a fellow Tweeter (thank you @sd_mls_photos!), who wrote them in response to my Tweet on the phenomenon of online coupon/deal sites commingling with the real estate industry.  It definitely made you stop and want to read on, right! How ridiculous would it be if banks made such an offer?

There is one broker in Chicago that had much success in offering a Groupon to prospective buyers – they offered cash back at the close of escrow, and sold 200 deals. Some in our industry believe these types of sites are a good way to market real estate services. I do not agree.

I believe that being a Realtor means you are a professional. Sure, there are those who dabble in it, rarely sell homes, work part time, don’t take it seriously…but you will find people like that in any industry. The serious agents – those of us who work full time and work hard for our clients – we are professionals. Offering an online coupon for services cheapens those services.

I believe that a prospective client needs to meet an agent and talk to him/her before deciding to work together. Likewise, I like to meet clients to decide if I want to work with them (yes, as a professional I do have that choice, and there have been times I have chosen not to work with people…it’s not about the money – integrity and saving one’s sanity come first).

Apparently Groupon and some other sites have recently put working with Realtors on hold. Many are trying to figure out why, but my legal mind senses potential liability – people wanting their money back (maybe they are dissatisfied, maybe they found out they couldn’t qualify for a loan and thus cannot purchase a home, or other reasons). This could undoubtedly create a problem for online deal sites, even though I am sure somewhere in the fine print it must say the purchases are non-refundable.

If you are a homebuyer you need to shop carefully for an agent. Do not choose someone solely on the basis of a coupon. Meet them, check out their credentials, ask what they will do for you and why you should work with them – this is a service industry and you are the client, so you deserve to be well-cared for.

Don’t get me wrong…I am sure there are some very good, professional agents who would opt to use coupon sites to attract clients. But just because you get a deal doesn’t mean you will click with the agent. If a deal is important you can discuss it with an agent who does click with you!

 

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Cooperation Stomps Competition in Real Estate

Sunday, February 27th, 2011

Real estate, like any sales business, thrives on competition. But it is the nature of the competition that can give the industry a bad name. There is a time for competition, which can be healthy, and a time for colleagues to cooperate–and actually they can exist simultaneously. So whether you are “the top producer” in an area, someone who sells just a few homes a year, or somewhere in between–listen up.

Realtors are a different breed of business people. True, our business involves sales, but realistically we provide much more: we are guidance counselors, teachers and personal trainers. We don’t just hand someone an apple from the bunch and take a quarter, so to speak. Purchasing a home is one of the biggest financial decisions a person makes in his or her lifetime. It is not something that typically happens quickly, and there is a lot of work involved. The Realtor who only cares about a paycheck will not last long, especially with technology driving change in our industry. We have to be smarter, more connected, better equipped to assist our clientele and each other.

In such an atmosphere there is one mantra that needs to be followed: we all need to cooperate. No kidding, you say, right? But honestly, there are many agents out there who still think it is all about themselves. Of course, we do compete with each other, but we also need to increase the trust in our industry, and that cannot be done unless we all respect each other and perform our duties in the most professional manner.

Every industry has it’s complainers, it’s sour pusses, it’s bad eggs. Look at lawyers–the general opinion seems to be that they are disliked, but if you are arrested or sued you would be calling one faster than a speeding bullet. There are many amazing lawyers out there, but the bad eggs spoil the perceptions of the industry. The same is true of real estate.

So, get out there and respect your competition. Join industry chats, follow other agents on Twitter and Facebook, read Realtor blogs, share your knowledge with other agents. Return agent phone calls and emails. It doesn’t mater how many houses you sell or how much money someone spends on marketing. If you do the best you can do with what you have and you are happy, you can only get better by cooperating with others and paying it forward.

If you want to take it one step further, keep in mind that cooperation is important but you also need to watch what you say–both to colleagues, clients and online. To read more about this click here: http://realestateandwomen.net/2011/02/23/the-importance-of-watching-what-you-say/

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You’d Better Watch What You Say

Friday, February 25th, 2011

With the world online it has become harder to uphold reputations and maintain your desired degree of professionalism…you actually have to work at keeping them in check. Clients and colleagues can check up on you in an instant, so what you say online and in person needs to be well-thought out. Realtors are no exception; in fact, they probably have to be more careful than the average person, for fear of violating a myriad of laws or regulations. For some tips on how to keep your reputation untarnished read more at http://realestateandwomen.net/2011/02/23/the-importance-of-watching-what-you-say/

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Professionalism in Real Estate: Back in Style

Monday, January 10th, 2011

Actually, it never went out of style, but judging from the behavior of some professionals in the real estate industry you wouldn’t know that. To be fair, this can be said of any industry‚Äîthere are always those who slack off, try to get more done in less time at the expense of the details.

The fact of the matter is that with the addition of technology the real estate sales industry has become a more difficult playing field. Buyers and sellers often do a lot of work before they even contact a Realtor. Gone are the days when you stuck a sign in the front yard and waited for offers to flow in, or when you picked a few homes to show in the area to a client who relied solely on your advice. Nowadays clients know the areas, neighborhoods, floorplans. They understand the comparables and why one property may command a higher price than the one down the street. You have to be savvy and actually keep up with them to succeed in real estate now.

Yet, despite all the knowledge available at customer fingertips there are still many agents who throw professionalism out the window on a daily basis. I have heard it from many clients and from the agents themselves! I have seen it on offers written by agents that were clearly not checked over and over again before being submitted.

Here is my list of simple ways to strive for more professionalism in the real estate industry.

1. Return phone calls, including those to other agents. I cannot tell you how many times I have heard or read of buyers who say they called a listing agent with questions, only to never receive a call back—unbelievable! This could be the person that presents an offer on your listing, or uses you to purchase another home, not to mention this is a violation of your fiduciary duties to your client/seller.

Oftentimes agents call other agents with questions on listings on behalf of their clients‚Äîreturn these calls immediately! If I don’t hear back in a reasonable time I won’t show your listing. This just happened to me a few weeks ago with a pretty big area brokerage‚Ķno call back. Well, they lost a showing with an all-cash client. It is about your reputation with clients AND within the industry, and believe me other agents know who are the non-responsive agents. Do you want to have this reputation?

2. Make sure you proofread all your emails and communications. This seems so simple but spelling and grammar errors are a reflection of YOU! This should also be applied online when writing blogs, commenting on other blogs or posts, and even with social media. Again, what you put out there in internet land is permanent and is a reflection of you! Use spell-check and grammar check programs on your computer.

3. Proof your marketing materials, people! You may say, “duh!” but I get flyers and materials in my mailbox almost every week from other agents that are filled with typos, grammatical errors and terrible, grainy photographs. Again, if you are trying to get new clients this way and you send out pieces that look bad, why would they want to call you? Personally I would rather not send out any materials than send out those that look bad.

4. Look professional. This one is a no-brainer. True, everyone has his or her own style. BUT you can dress casual and still look professional . There is a difference between dressy-casual and the ‚Äújust came from the gym‚Äù look. Again, how you present yourself makes a statement about who you are. You don’t have to wear Armani or Prada but you should look like you take your business seriously.

5. Send a hand written thank you card to the client, other agent and escrow officer at the close of escrow. This is often overlooked in the age of texting and instant messaging, but honestly a handwritten thank you is still the best compliment you can offer. Those agents will remember you next time they show your listing or receive an offer on their listing from your buyer.

It really doesn’t take much extra effort to be professional, but if you don’t have time to do these and other things to maintain your professionalism you need to rethink your goals, expectations and your career path. Not only do our customers expect us to be professional, they deserve it.

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