Two weeks ago, I posted this article: The Funnest Part About Being a REALTOR®.
But it’s not all fun and games, right?
The most frustrating part of the business for me is when I have no control over a situation. 🙄
It can be maddening when I know there’s a simple solution to a problem, but it’s not up to me alone. The other agent’s action (or lack of action) makes us both look bad to our clients, and often reflects poorly on the industry overall.
I’m painfully aware that there are certain times when it’s plain impossible to resolve a bad situation. However, I firmly believe that—most times—if I act proactively, I can mitigate stress and increase the likelihood of a successful conclusion.
mit·i·gate /ˈmidəˌɡāt/ – make less severe, serious, or painful.
1. Less texting – More talking
Texts and email are great for conveying information, but nothing beats a simple, friendly phone conversation to learn about your “opponent” during a negotiation. Everyone is different, so quickly gaining an understanding of the other’s communication style, experience, and skillset should be an essential first step in your strategy. 🤑
(You can become an expert at this by taking the Master’s Program or multiple other learning resources, not necessarily focused solely on Real Estate.)
2. Assisting the Inexperienced
When you’re negotiating with an inexperienced agent, they will rarely (if ever) admit that they’re unsure what to do. But of course, it’s obvious.
We all know that inexperience is the ‘blower-upper’ of many a good, solid deal.
I deal with this by figuring out how to subtly help the other agent while consciously allowing them to save face.
For example, let’s say they’re representing the buyers on one of my listings, and I’m nervous about how they might handle the upcoming home inspection. 😟
One way I can mitigate risk is to redirect my concern to the agent’s clients, “Hey, between you and me, I’m a bit nervous about the home inspection because it seems like your clients are a bit young and inexperienced. I’m sure you do the same thing, but I always prepare my clients before the home inspection by telling them….”
Then, I give them a short summary of my standard ‘pre-home-inspection’ speech. For more information, read this post: The Simple Home Inspection Speech
By the way, I don’t just blurt this out immediately. By the time I get to this stage, I’ve already established a friendly and respectful rapport with the other agent, so my suggestion sounds like a continuation of our friendly dialogue.
Also, it’s entirely OK to convey this type of information over an email. There’s a time and a place for different methods of communication, but an email is perfect for conveying information that cannot be expressed in a few words, and doesn’t require any subtlety.
By sending this “suggestion” in a friendly, non-confrontational way, I’m “teaching” the other agent without making it obvious. They always respond with:
“Yes, I do that too!” 😃
Whether that’s true or not is not important. If the other agent needed a little guidance on how to counsel their clients through a home inspection, then I’ve just helped them (and me) towards a successful conclusion to the transaction.
If not, no big deal. We’ve confirmed we’re all on the same page, and that’s a good thing. Sometimes, it’s just a good reminder to the other agent.
Describing your own version of The Simple Home Inspection Speech is just a single example out of hundreds of different scenarios where you can help an inexperienced agent while still respecting them and not drawing attention to their lack of knowledge.
Taking the high road and fostering a dialogue based on mutual respect goes a long way towards achieving your end goal (a successful transaction) rather than belittling the other agent, which is 100% counter-productive.It all boils down to fostering a spirit of working together through excellent communication, with the end goal of creating a win-win-win-win for the buyer, the seller, the other agent, and you.