My good friend (pictured) used to be an agent
I am not exactly sure where to begin. I still work as a Realtor on a full time basis. I have been to the top of the crazy pricing and still remember the throws of 18% interest rates. I have not seen it all, but I have been in enough battles to feel comfortable in measuring the current status of any market.
I am not alone. There a hundreds of agents that have literally “been there, done that”. One of the problems we face on a regular basis is BAD advice given clients by former agents. We all know them. They had a license at one time. If you ask, they plan to become active again in the near future.
I don’t want to sound like a know it all, but I promise you that if you have left the business for longer than 90 days, you are clueless. Things in real estate change quickly. The market changes quickly. Your knowledge is limited to a world that no longer exists.
Do us all a favor … Shut the hell up!
I am sure you mean well. I will set aside my other belief that your ego is in overdrive and you just have to prove to your friends, you still have it. Your inappropriate opinion about everything may do more harm than you realize. Did I mention, you have no liability. You can just run your motor mouth and leave the actual professionals to pick up the pieces.
CASE IN POINT
A delightful client calls to see a short sale. I show the home and do my research. I sit with my client. She wants to write an offer. I go over the comps, the data on the banks and other information. She shares her friend at church used to be a Realtor in Virginia. She asks if I would speak with her and clarify (?) the process. I talked with the former agent. She allowed that she had never heard of short sales. She allowed that she had never heard of a short sale addendum. She went on to babble about real estate in the Tidewater area in the 80’s.
I met with my client again. She asked about offering the price that apparently had been approved by the lender. I said it was well below market and would be a reasonable offer. She then shared her friend said it would be better to undercut the price by about 15%. I was able to convince my client that if she wanted the property, she should go with the list on this home. She then said that her friend told her to ask for closing help. She told me she could pay cash, but her friend told her ” in real estate it never hurts to ask, if you don’t ask, you don’t get”.
I submitted her offer. The second trust came back and said they would not approve a closing help. I informed my client and she wanted to check with her pal in church. The church lady told her that the bank was bluffing. Don’t give in.
The bank took another offer
My client is back to square one, after missing out on a very good home. Her pal called to ask what happened and I shared that she would have to find out from my client. Her parting shot…maybe I needed to learn better negotiating skills. I can think of several things to share. The only words I hear are …don’t ask, don’t get.
Silence is Golden