Agents Must Avoid Becoming Emotionally Involved in the Deal.
I think one of the least talked about things in real estate, yet it’s probably one of the more common occurrences are agents that become emotionally involved in the deal. In their own zeal to assist the buyer or sellers - the agent starts to act as if the property or equity is their own. It isn't! If an offer is made on a property that is not full price, all too often the listing agents go postal. On the other hand, buyer’s agents often insult the listing agents and the listed home in a foolish attempt to get the deal on their client’s terms. My own thoughts are if the home is that bad, why did you write an offer on it? That is not a good way to negotiate, and actions like these will be perceived as unprofessional and hostile.
Such transparent behavior is all for naught, and counter productive. It does no mean the demanding agent will get things their way. Agents that lack negotiation skills often resort to raised voices, and have temper tantrums in a vain attempt to get their way. That painful situation makes others want to remove themselves from the situation ASAP. However, let's not be naive, these actions are not limited to buyers agents. Listing agents often posture the offer terms are an insult to their principles, and may even go as far as tell you they will not present it. They may even lie and tell you they have other offers or an offer coming in when they do not. The later of course may be grounds for regulatory discipline for that agent.
What agents must not forget is that they are licensed by the state in which they reside to act in a limited capacity on behalf of their principle. They need to more fully understand what the role of an agent of a broker is. There are limitations in what we are allowed to do, and laws that guide how we are to perform. Anyone that is licensed needs to fully understand what we can and cannot do with a real estate license. We need to acknowledge is that the actions of the agent are limited by that licensure, or specific instructions of the sellers to accomplish the task at hand. A normal real estate license or listing agreement does not confer upon the agent “A Divine right of Kings!” Our limited role in a deal is basically one of agency - an agent of the seller, a marketer, an advisor, and consultant.
Unless otherwise stated in writing or instructions from the seller to affirm their wishes – in accordance with our own state real estate license boards we must first:
- Don't be a control freak! Just do your own job!
- Remain factual and know what is occurring in your market.
- Always be ethical and improve your professional skills, and knowledge.
- Comply with all real estate laws within the state(s) we are licensed.
- Always work on behalf of the best interests of our clients.
- Clear up any ambiguity - ask question and terms.
- Ensure all items and terms are in writing, and are properly executed.
- Request further information needed to best advise your own client.
- Present all offers.
- Do not posture – thank the other agent for their offer.
- Never take an offer personally – remain objective.
- Never become emotional in a deal and lose objectivity.
- When in doubt seek advice from your principle broker – not other agents.
- Do not take an inspection report personally.
- Do not take a bad appraisal personally.
- Do not practice law – or give advice which is legal in nature unless you are an attorney.
- Never insult an agent, buyer or seller.
- Stick to the facts pertinent to the deal at hand.
- Never make a deal personal.
- Personal gain - should never be at the expense of your client. (Double dipping, dual agents, failure to present offers etc...)
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