Run Real Estate..Don't let it run you!

Quote: Battles are won by slaughter and maneuver. The greater the general, the more he contributes in maneuver, the less he demands in slaughter.
( Winston Churchill )


When I first started my career in real estate I wanted to help everyone. I adapted a habit of people pleasing along with the drive to succeed and be one of the top producers in San Diego. I quickly learned through trial and error that I needed to learn how to balance the two very quickly. There is nothing wrong with wanting to please another and there is nothing wrong with wanting to be the best we can possibly be in our career. The problem is created when we over extend ourselves to others such as our clients, family and friends to a point where it disrupts our ability to effectively manage and prioritize our days; enabling us to be consistent in all aspects of our lives. This not only disrupts our well-being; it also disrupts our bank account. We have to be able to manage our personal and business lives to be productive and efficient daily.


I have noticed there are some agents that want a listing and may be up against 2 or 3 other agents before the potential client makes a decision. The home owner will try to cut commissions and maybe use the line;" The agent before you said they would take a smaller commission" if it is a traditional sale . OR, an agent will over promise in order to get the listing. But one example that I see over and over again especially in short sales is expectations are not properly set and the agent ends up with the following problems:


1. Uncooperative clients - On a short sale transaction a client needs to understand that a short sale requires that they give us all the appropriate documents and when the bank requests a document the ETA has to be immediate. They also need to cooperate with showings. In addition; they need to understand that they have to be moved out by close of escrow. Homeowners are going through a lot of emotional turmoil. They do require a lot of compassion and assistance however; there are things that they need to be responsible for and you cannot take on that role for them otherwise you will jeopardize the transaction, lose focus and be pulled away from your daily schedule. Delegating is something we need to utilize. Know what roles are yours, your clients and your teams and delegate accordingly. This will allow you to stay on task.


2. Messy Transactions - When we are pulled off task transactions get messy. Contracts are not complete, all appropriate documents are not collected. Communication levels are poor. Short sales cannot be submitted unless the packages are 100% complete. If you are using a third party to negotiate for you there is no way they can effectively do that if they don't have all they need and if the proper strategy is not followed. It is a listing agents responsibility to collect the documents and up date their clients. If you do not know what that proper strategy is it is your responsibility to find out the proper procedures so you can delegate appropriately.


3. Angry and confused clients - It is important to be well versed in short sales. If you cannot effectively explain the process to your client then you need to take someone with you on that listing appointment that can. Here is where over promising and under delivering really happens. An agent will go on a short sale listing appointment. They may or may not have some short sale experience but there are a few agents they are competing against and promise the seller they can get them some relocation money. Guess what happens? The seller does not in fact get the relocation money and when the seller learns of this they are not happy. You may have landed the listing but you will not keep that client. My suggestion is you know your content and if you don't then take someone with you. Tell the homeowners the truth. Not what they want to hear. They will respect you a hell of alot more in the long run and you will most likely keep them as a long- term client.


I understand how easy it is to get overwhelmed and frustrated in this business. It happens to me time and time again and I have to re center myself. We have pressure to perform, to pay our bills and take care of our families. The temptation to cut corners will always be there. But if we are creating a balance in our lives; all aspects of our lives and shift our perceptions about our day to day tasks in a positive way we will be so much more organized, less stressed allowing us to move through our days with ease and grace. In that space is where your true desires are manifested. You are not swimming up stream, you are floating down the river on a raft with the sun on your face.


We are here to answer any questions you have and we look forward to helping you with your short sale transactions.



REALTORS, what is in your business plan this year? What are you doing to create a system that will allow you to build your short sale business? How often are you out there prospecting and how do you know if you are taking the listings that are going to be successful and not a waste of your time?


Call us today and let us show you a system that works to help you expand your business and effectively and efficiently close short sale transactions


LOTUS REALTY GROUP
PROFESSIONAL SHORT SALE NEGOTIATORS



At Lotus Realty GROUP, helping people ethically succeed is at the forefront of who we are...