Ever wonder why as real estate agents you get paid so much? And we do get paid a lot. That’s because we are problem solvers. Doctors and lawyers get paid a lot because they also solve problems, where as non problem solvers like the guy who mows your grass, or picks up the trash is paid far less simply because you can do those chores yourself, no problem solving involved there.
The faster you are at solving problems for others the more you will make. Most new agents when they get into real estate don’t realize this, and when they are doing there first few deals many become overwhelmed by it all, they thought it was all about showing homes.
Here are a few of the problems that home owners and buyers tend to have. Sellers face a pricing issue, a move out date issue and quite often inspection issues. So let us look at the first one pricing.
Correctly pricing there property is the first of several problems most sellers tend to encounter it is also the biggest challenge. Sellers all like to think of their home as some type of bank account where they have saved money and earned interest, many seem to think it is in the US constitution that they are entitled to a profit. The problem with the savings account thinking is the home may not be appreciating, but actually depreciating as it is today in most markets, but sellers only record the deposits never the withdrawals on their properties, strange but true. They like to think that on upgrades and remodeling that it is like a deposit in to the account for the future and that they will get a return on their deposit which may not be true. If you were to ask most sellers when on your listing appointment, knowing that they are going to sell now, would they make those same improvements today, they’d tell you no, ask why, and they’d tell you because they would not recoup the money. They know this, but just can’t make the withdrawal by themselves. What an experienced and professional agent does is bring many, not all, but most back down to reality, those that don’t come down need a few more counseling sessions. By you bringing them to reality you have solved their problem, which they could not do for themselves. Kind of like a family counselor.
Now that you have your seller listed and moving in the right direction towards an offer, the money issues will almost certainly come up again, along with the pack up and move out date, not to mention the whole new set of negotiations that will take place when the inspection report comes in. When the offer arrives the skilled pro will remind them of all the previous showings they have had, how qualified this couple is to purchase their home so that the will benefit from a smooth closing (of course only if it’s true) and then put them at ease that all the packing, repairing of inspection issues and finding a new place can all be done by the scheduled date. I always tell my buyers and sellers that in all the years I’ve been selling real estate I have never had anyone sleep in their car, I have come close but none yet. Your confidence and your ability to solve their housing and moving needs by getting the job done is why you are paid so much.
You are a problem solver. All of the problems above are relatively simple to handle until they become yours. As a real estate agents we problem solve, we’re empathetic, we counsel and we comfort and reassure all our customers and many of them love us, when it is all said and done, that is what so many of us find so rewarding Those of you who have degrees in psychology, it’ll serve you well here.
The faster you are at solving problems for others the more you will make. Most new agents when they get into real estate don’t realize this, and when they are doing there first few deals many become overwhelmed by it all, they thought it was all about showing homes.
Here are a few of the problems that home owners and buyers tend to have. Sellers face a pricing issue, a move out date issue and quite often inspection issues. So let us look at the first one pricing.
Correctly pricing there property is the first of several problems most sellers tend to encounter it is also the biggest challenge. Sellers all like to think of their home as some type of bank account where they have saved money and earned interest, many seem to think it is in the US constitution that they are entitled to a profit. The problem with the savings account thinking is the home may not be appreciating, but actually depreciating as it is today in most markets, but sellers only record the deposits never the withdrawals on their properties, strange but true. They like to think that on upgrades and remodeling that it is like a deposit in to the account for the future and that they will get a return on their deposit which may not be true. If you were to ask most sellers when on your listing appointment, knowing that they are going to sell now, would they make those same improvements today, they’d tell you no, ask why, and they’d tell you because they would not recoup the money. They know this, but just can’t make the withdrawal by themselves. What an experienced and professional agent does is bring many, not all, but most back down to reality, those that don’t come down need a few more counseling sessions. By you bringing them to reality you have solved their problem, which they could not do for themselves. Kind of like a family counselor.
Now that you have your seller listed and moving in the right direction towards an offer, the money issues will almost certainly come up again, along with the pack up and move out date, not to mention the whole new set of negotiations that will take place when the inspection report comes in. When the offer arrives the skilled pro will remind them of all the previous showings they have had, how qualified this couple is to purchase their home so that the will benefit from a smooth closing (of course only if it’s true) and then put them at ease that all the packing, repairing of inspection issues and finding a new place can all be done by the scheduled date. I always tell my buyers and sellers that in all the years I’ve been selling real estate I have never had anyone sleep in their car, I have come close but none yet. Your confidence and your ability to solve their housing and moving needs by getting the job done is why you are paid so much.
You are a problem solver. All of the problems above are relatively simple to handle until they become yours. As a real estate agents we problem solve, we’re empathetic, we counsel and we comfort and reassure all our customers and many of them love us, when it is all said and done, that is what so many of us find so rewarding Those of you who have degrees in psychology, it’ll serve you well here.
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