Chisteografía 02:

When Your Broker Competes

Last week, while ARDELL was writing “Does your broker sell real estate?” on her ActiveRain blog I was in the middle of writing my post ” Does your broker compete?” and I had my original post all set to go and I was just about to hit publish when it dawned on me - the two are so the same, but yet so different and while it can be beneficial for a broker to be active - I don’t feel that a broker who actively sells is a good thing.

ARDELL says “Training is more than showing you which forms to use when it sells. Training should be about how to get it sold”. Which is true and I can not argue that point. But I can argue that a broker who sells and works with their own buyers when they have agents within an office creates for bad business. I don’t think that a broker should actively work with buyers as clients, because that broker wants to make that sale (Ok, let me just say that maybe not all brokers - but most).

ARDELL also says “So if you have a Broker who also sells real estate, instead of viewing the Broker as a competitor, maybe you should focus on some of the real advantages”. This would be true if the broker was not my competitor.

Let me just use this example: My Broker took a sale right out from me recently, his cousin was looking for a house to buy and was in a time crunch. I found them a house after 5 meetings with them off of MLS and they were thrilled. To make a long story short, the deal feel through in the eleventh hour and they were even more crunched for time. My broker took them out one morning while I was at one of my other listings open house, without me knowing and showed his cousin a house that was also on MLS - Needless to say - they bought that house and closed very promptly. I was axed out of the equation.

My broker directly competed with me and stole a sale from me. Regardless if it was his cousin or not, I was working with him for more than one month and I was set to take him to see this house after my open house (we are talking about 2 hours difference). When I called the buyer/cousin to confirm our times - he informed me that he just put in an offer with my broker and was waiting to hear the outcome.

Need another example of when a broker competes?

Three months ago, I went on a listing appointment. While I was at this listing appointment the sellers seemed scared about selling and they needed more time to think on what they wanted to do. They were unsure if they were staying or moving out of State. I did not push and I was not aggressive. I left that appointment reassuring them that when they were ready to sell - I would be happy to help them. I spoke with the husband more than 5 times within the three month period, going over pricing, talking to them about my marketing plan and etc. Less than three weeks ago, while I was not in my office my prospective seller called my office looking for me and asked for me by name - he lost my cell phone number. My Broker happen to answer the phone and assured my seller that he would help him and proceeded to list this property right out from under me. What I find absurd is that my broker continuously assured this seller that he was taking care of it, FOR ME. Which was clearly not so when I saw the listing under his name and no mention of me. He stole my listing point blank!

Reasons why agents should not work in an office when a Broker competes:

• The Broker has the power to squash your sale to make a sale on his own.
• Does not present your offer from your buyers until his buyers puts in a better offer on one of his listings.
• Holds your offer until other agents or one of his own offers comes in which is higher.
• Will encourage a bidding war within the office because he knows all offers.

I would like to think that there are more Brokers out there are like ARDELL, but I am sad to say that in my neck of the woods, there is not. I feel that if a Broker is active it is solely for the reason to relay their prospects to their agents.
Let me define a Broker’s/Manager’s job:

• Mentor - the agents within the office.
• Train - the agents the proper way to fill out forms, take photo’s, talk to buyers/sellers.
• Teach - the agents how to do open houses, the agents how to list a property.
• Direct - the agents when there is an in house sale.
• Motivate - the agents to market including blogging.
• Assist - the agents with the inspections, attorneys and closings.
• Diffuse - any problems that might arise from the agents within the office.
• Share - information, prospects and listings.

Bottom lines are what matters. When the bottom line consistently goes into the Broker’s pocket the office falls apart. A Broker who is educated is by far better than a Broker who competes!

This is our inaugural Mystery Blogger Post. Welcome Mystery Blogger!

Image courtesy of CartoonStock.

Fuente: Sellsius [Enlace]