Jeff’s Jabb #10: The Informed

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June 30, 2016 by Jeff Lowen

If you’re plugged into the real estate market at all, you know it’s difficult to get unbiased content. If you’re speaking to an agent or broker, now is a great time to move, right!? If you’re chatting it up with a loan officer or lender, interest rates are great right now! And, I’d be a wooden doll with a long nose if I said I didn’t join that party on occasion.

Truth is, it’s always a good time to buy or sell if you must. Sure, the market is better at times than at others, yet most folks that are making a move usually do so because there is a change in lifestyle. Whether it be a job change, addition to the family or a downsize for retirement, more often than not the motivation to move has nothing to do with the market. person-woman-relaxation-girl-large

So as information sources in the real estate world, are we reporting valuable content or are we just attempting to promote an idea that will help us grow our businesses? Good question. Personally, I’d like to think that I do my best to provide valuable content to my readers. Sure, I’ve been known to pull a shameless plug once in awhile, yet I believe in transparency in the industry and empowering the players. Consumers and professionals alike, so that modus operandi comes first.

I also coach other agents and investors to align their business values to that of their clientele, so the relationship becomes somewhat more than just important. It’s symbiotic and valuable to both.

I get many requests to list and sell homes, help buyers purchase and join in on an investor deal, however albeit a select few, I prefer to help someone find the right agent. I prefer to help someone negotiate a great deal. I believe in a better educated and experienced professional when you think of the real estate industry in general.

So what do you do with all this information about the market when moving is furthest from your mind?

Well, as if you don’t have enough to do, in a perfect world you’d keep a finger on it and attempt to match up an optimum time of the market with your life changing event. All the more reason to connect with someone whom you know that takes real estate seriously. And, how do you know that, you ask? I can tell you that in life as in real estate, actions speak louder than words. So with that said, approximately 20% of what someone says is worth keeping and the other 80% is observing what they do.

That’s why the printed word is powerful, yet pales in comparison to a voice to voice or face to face meeting.

And, that’s also why people like to do business with people they like. When you like someone, it’s easier to trust them. I refer buyers and sellers to agents all over the country, and the one thing I’ve learned is that it’s a collision of intentions when the connection is made.

As a real estate professional coach, I train agents to successfully deal with the obstacles in dealing with clients and prospective clients. When I refer a buyer or seller to an agent, it’s more of a matchmaking game. As a potential buyer or seller, you must resist ‘diving’ into the process as most agents would have you do, and position yourself as an unemotional interviewer.

How many agents do you interview? What’s the magic number? Believe it or not, there isn’t one. It could be ONE. Many articles would instruct you to see at least three. Some five. I once listed and sold a property where I was the 5th of nine agents that the homeowner interviewed. Wow! That’s all I can say about that. Most of us don’t have that kind of time. Why did he choose me? I think it was because I wasn’t trying to sell him something and he trusted and respected me for it.

If you do some research on the market yourself, connect with a reputable news source like, The Real Estate Expert Advisor for example (yes, that’s me!), then you have a measure of knowledge of the market, the techniques and strategies that complete a successful move.

Just remember, it’s not always about the money. If you need to sell to get to Florida to see your currently in diapers grand kids grow up, would you be willing to postpone that another four to six months, after their next birthday passes, and kill a sale because of a few home inspection items, or even $10,000 of seller contributions to buyer closing costs? Only you can answer that. It helps tremendously if you’re an informed consumer, and not just the illusion of an informed consumer.

Conversely, if you’re an agent that won’t make their mortgage payment unless you close this deal, are you able to put your clients’ needs before your own on the chance you could become homeless to protect your client?

Tough questions they are, but do need to be addressed. I can give you countless examples of the 20-year veteran agent that screams experience, yet has never taken any negotiating training or ends up leaving money on the closing table for their clients. Also, homeowners that are so bent on simple, workable issues that don’t get down to Florida to see their grand kids until their in high school.

You have to decide what is most important. Believe me, the decision is what’s most important. Not what the decision is. Also, in the Amazon.com world we live in, where we are inundated with choices, those decisions can be very tough to make. That’s why the sooner you decide on what, the how most definitely takes care of itself!

 

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