Entry by Jeani Thomas Richie

Commenting on Facebook Pays Off!

  10 Comments

Good morning ACRE-land!  It is a Monday and usually that adds up to what I call "Smokey the Bear" activity...you know, stomping out forest fires!  But today started off a little different.  

I was licking my wounds after being dissed by a "friend" who I did a consulting listing appointment with that emailed me over the weekend and informed me that they had selected another traditional commission agent to list their home.  In light of this I have also pretty much come to the conclusion that I will probably not be working with friends in the future!  I have had two really bad experiences having friends as clients this year, one of which led me to ACRE, so I guess it isn't all evil :))  But I am learning that perhaps friendships and business should be kept separate and I should just answer those requests with a referral to another agent that I know, love and trust!

Anyway...I digress...my wound-licking came to an abrupt halt when I received an email from the Senior Editor of Texas REALTOR® Magazine asking my permission to quote me in the magazine and include my head shot.  I commented on a Survey on Facebook that asked “What do you wish you could change about the real estate industry?”

My answer was "Embracing alternative compensation models which more directly answer the consumers wants and needs."

I am being quoted in Texas REALTOR® Magazine as such and hope that this will get other Texas agents thinking like an ACRE!!!!

Just wanted to share my Facebook success and one more step in a positive direction for the cause!

Happy Monday Y'all!!!

Jeani

10 Comments

Good news about being quoted!

Did you offer your "friends" compensation choices? Fee based or Commission? My "real" friends were always loyal and appreciated the Choices offered.

Hi Jeani,

The wounds will heal.  This has happened to me several times with friends and family.  Don't dwell on this and keep doing your good work.

Regards,

Ismael Jusino, CIPS, ACRE                                                                        Absolute Homes Realty, LLC                                                                      352-989-7072                                                                                            www.AbsoluteHomesRealty.com                                                                Ismael@AbsoluteHomesRealty.com

Good news Jeani! Me thinks I should come down to the Lone Star state soon and present consulting - you Texas ACREs are on the move!

Like Merv, I wonder if you offered your friends the traditional commission choice. If you did and they went somewhere else, it probably had nothing to do with their payment options. Keep your chin up.

Jeani, send me the article or post it please, congrats.  Friends are the family we choose until they treat us like family   :)

That's great, Jeani! (the part about being quoted, lol)

Working with friends and family definitely present challenges so it may be a blessing in disguise that they chose another agent.  I, too, am curious as to whether or not you provided traditional compensation as an option.

Keep us updated...

I actually talked about offering traditional brokerage as well, but focused mainly on consulting since that is what they asked about and indicated that they were interested in pursuing.  I think my problem was probably the fact that after three CMA's we were still $20,000 apart in recommended list price.  Seller wasn't budging and I couldn't justify his price.  He is an appraiser, so it was hard to argue, but I stood my ground.  The properties he was comparing to were not like his.  Oh well...live and learn!  Today is another day!

One of the ways I handled this with a client that had unreasonable price expectations is this:

  • Agree to list at their price for 10 days (or some other time period)
  • If no action or feedback from other sources indicate price is too high, the client agrees to lower the price to my recommendation

If they will not agree to these conditions, I simply tell them my time and expense is on the line and I will not take the listing.

That is what I did, we can try it at your price for a specified time and then reduce...I usually do this and of course I have a walk away price...if they want to list at an unreasonable price I then walk away.  So the latest news is that the house showed up in MLS this morning listed $15,000 over the high price he quoted me originally!!!  Perhaps I will park and wait to see if we can do business in six months when it doesn't sell!!! :)

GOOD GOING!!!! A lot of us have a hard time just saying no. I was always taught that there is power in saying no in negotiations.

The first thing agents should learn is when to say no and walk away.  I think the problem with your friend was the other agent.  Had I been the other agent, I would have stressed not dealing with friends on business so as not to ruin friendship ;)    So... if a friend when giving listing presentation, cover this topic up front so the next agent doesn't scare them away.  Appraisers are not good at appraising for a sale, only what property is worth, not what a buyer is willing to pay.   I too would like to see the Facebook article you mentioned.  I'm on there all the time and didn't see it.  Chin up, you are moving forward and learning. 

This page contains a single entry by Jeani Thomas Richie published on May 16, 2011 11:16 AM.

Strategic Partnerships and Marketing RE consulting was the previous entry in this blog.

How to Choose an agent? is the next entry in this blog.

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