My Foray into a 4-Unit Part III…Etiquette (or lack thereof)

Before I get started, I know someone will get mad at me…So, here are your choices! Stop reading, change the channel, or grow up!

For the rest of you…here goes.

As you know I have recently listed a 4-Unit and I am documenting my “re-entry” into the “residential” market. I have had numerous calls on the property and several showings; however, I am “aghast” at the unmitigated lack of professionalism, common-sense, and courtesy.

First, do not ask me “how much will the Seller take?” I don’t work for you…I work for the Seller why on god’s green earth would I tell you that the Seller would accept a lower price than the listing price? Does anybody remember real estate school? If you have a listing with a Seller, even if you do not “represent” them as a fiduciary you still have the obligation to work in the Seller/Customers best interest.

How would I be representing the Seller’s best interest by telling a Competing Broker, Agent, or Buyer that the Seller will take less than the full asking price? I also love the slightly more “veiled” approach…why is the Seller selling? Nun-ya! Nun ya damn business…the Seller is selling because they wish to…end of story.

Second, do not call into to question my “business acumen”. Do not insult the Listing Broker. I have been at this a whole lot longer than 90% of the agents in the business and I know what I am doing.

I schedule multiple showings “simultaneously” to reduce the amount of time we disrupt the tenants. Don’t like it, think it’s unfair having a bunch of buyers show up at the same time… don’t show my listings. This may be hard to believe but there are thousands of buyers for every property…Next!

Try and understand that the world doesn’t revolve around you and your prospect…other people are involved and have lives, jobs, and prior commitments.

Don’t regale me with your version of why the pricing is way off! I don’t care…make an offer and see if your right otherwise your just blowing hot air…and there is enough of that to go around! Have some respect for your fellow agents, show up on time, confirm your appointment, don’t rely on text’s some of us don’t read them…and if you’re not going to show share that too!

Third, fill out the paperwork completely and return it promptly. I know it’s a lot to ask…fill out a cooperating brokers agreement and provide a proof of funds or prequalification letter/certificate.

Do you want to get paid? Then fill out the agreement. The cooperating agreement is for your protection…if we get into a transaction and something tragic happens to me…how do you “prove” your right to a commission. And don’t say the MLS! The MLS will not pay you, they will not represent you in a court proceeding, they will not pay your legal bills. The MLS is simply an advertising service.

By filling out the cooperating brokers’ agreement you are also protecting yourself from the prospective buyer going and seeing the property with another broker and cutting you out! I know that never happens in residential real estate, but it happens all the time in commercial real estate.
By completing the cooperating brokers’ agreement, you are providing me the information I will need to get back to you in the event of any changes…like a price reduction, or owner financing.

I guess in short it can be reduced to the Golden Rule… “One should treat others as one would like others to treat oneself

1. Call, confirm, and show up on time…if you can’t call and cancel or reschedule…try to be flexible.
2. Don’t ask questions you know that the listing agent “can’t” answer
3. Be respectful…we’re all in this business together
4. If you need to sign a C.A., N.C.N.D., and provide proof of funds or a C.V. just do it…or move on.
5. Put yourself in the listing agents’ shoes…how would you like it if….

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For those of you with inquiring minds that don’t know me, I have been in the business going on 36 years. I was a broker in two states, real estate instructor in two states, I have written 9 books, trained thousands of agents, and have brokered, managed, or supervised nearly $2.5 Billion in commercial transactions.

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