How To Deal With Irrational Real Estate Agents
February 12th, 2012 | 
Author: How To Deal With Irrational Real Estate Agents
In the course of all the short sales you will take on you will likely encounter some highly irrational real estate agents. But fear not! You can work successfully with them despite all their grumbling! The key is to build rapport with them to get the point across that you are all on the same team and NOBODY gets paid without the help of the other!!! That way you will establish a sense of togetherness and not encourage a sense of me against you.
One of the best ways to establish a team atmosphere is to discuss the fact that everyone involved is working hard to get the deal done. As the short sale negotiator you are working to build a relationship with the lenders and get the debt down so the contracted buyer can purchase the property were it not for your negotiations the buyer would have to buy the house for the total debt on the property not the discounted value that happens to be fair market value which would cost them dearly. The buyers agent is working to get their client into a home of their dreams and the listing agent is doing whatever they can to get a buyer. Make sure you stress the fact that everyone needs each other and if they dont work together the deal wouldnt go through and you want to make sure to use phrases like we are all working hard or well all have to make sure we continue to work hard so this deal closes. That way youre sending the message that all of you are equally necessary and therefore all deserve to get paid.
Speaking of getting paid youll want to make sure to explain to them that again it is your work in negotiating the debt to allow the buyer to purchase the property that is also enabling them to get paid! This is something that real estate agents easily forget. As soon as an agent youre working with starts giving you an attitude make sure to remind them of this!
Once theyve realized that youre responsible for them receiving a paycheck they may still grumble about how much you may be receiving when compared to them. If you arrive at this point the best way to respond is to explain that on this particular deal you may be outearning them however on your last two deals you only made a few hundred dollars while they likely cleared several thousand dollars. This is not merely to argue with them but to make the point that each deal needs to be approached with the same amount of hard work. And the reality is some will yield bigger checks than others but it will all balance out in the end.
Remember you will likely be seeing this agent again. The key is to get them to become a team member not an opponent!
If you would like to ask a question visit www.AskBobLachance.com or www.AskPatrickPrecourt.com and submit one. This is Bob Lachance signing off on behalf of your Real Estate Business Mentors!
About the writer: Before joining North Shore Enterprises NSE in 2004 Bob Lachance was a 4yearcollegiatescholarship athlete in ice hockey at Boston University where he won a National Championship in 1995. After leaving BU he enjoyed a successful 8 year career as a professional hockey player. Upon retirement from hockey Bob completed several profitable real estate rehab projects for his own benefit. He then joined NSE as an associate responsible for property acquisitions and loss mitigation/lender negotiations. Bob brought the same determination and work ethic that lead to great success in his professional sports career and thus generated more acquisitions and short sale acceptance letters in a shorter time frame than any associate before or since. His outstanding performance led to a promotion to partner in 2005. Since that time Bob has taken responsibility for all the day to day operations of NSE. As partner he has overseen the acquisition of the loss mitigation and the disposition of over four hundred properties. Bob continues to be directly responsible for identifying good candidates for acquisition and for overseeing bank negotiations and has been essential to the success and growth of NSE.
Related posts:
Posted in Houses