Why are Broker to Broker Relationships so Important?
First and foremost let me say that if a Seller wants to Sell and the Buyer wants to Buy, it is the first priority to make this happen.
One of the most common errors that I see Real Estate agents do is say that their Buyer or Seller won’t do this. My response is-have you asked them? I should be clear that my philosophy is that it is not my property or my money and therefore not my decision. Even if I believe that my Client will or will not do something, I do not sleep in their bed nor live their life. What they may or may not do yesterday can change today.
Another issue that I come across so very often is an Agent that can only negotiate in a VERY hostile way. What happened with discussing our issues and seeing the best win win for everyone?
How about texting or emailing incessantly? So often by picking up the phone a quick conversation can solve all ills. You can always follow up with an email for confirmation.
Remember that ONLY a written word form the Buyer or Seller can alter the terms of the Contract. So often I receive an email from an agent stating that this or that is going to happen. Even if acting on the Client’s direction, again only the written work prevails and only if signed by the Buyer and Seller.
How about the Listing Agents that place in private remarks-only text me do not call me. Really? If the Sellers knew that their agent was putting this out there, I wonder if this agent would continue as the listing agent.
I also want to reiterate that choosing a Broker that answers their phone and is responsive to emails and texts is so important.
So on to Broker to Broker relationships. If there is a choice, wouldn’t you rather work with an experienced person in whatever business that you work in? How about one that you have had a positive experience with versus an unpleasant one?
Many Commercial Brokers experience the very unpleasant experience of an agent that is primarily a residential agent trying to do a commercial contract with little to no experience. What a shame for the Client. I have asked for rent rolls and the Agent has NO idea what this is.
So often when Commercial Brokers list a property, the first email goes to the Broker List that they have worked with. I know that a number of Brokers look for my listings as I not only update the financials every month but actually include all the relevant due diligence under the documents vault.
I can assure you that if two Brokers (even if they are friends) are cross agents, they absolutely will represent their respective clients correctly. That is our job. A true professional knows that even if the contract becomes adversarial that this is business and not personal.
These transactions can be difficult and it is a shame that so many agents make them harder than they need to be.
How about that even experienced Brokers can learn from each other? Isn’t this what the world is supposed to be about?
Remember that I answer my phone and welcome your discussions.
Have a great week!
Really interesting and something to think about! Thanks!
We live in such a cynical and insecure society where people have a giant fear of being wrong or making a mistake. Fear is the main factor of hostility it is directly caused by being afraid.
The Phone thing is something I will just never get over. Text and email add zero context and lead to many miscommunications.
As for my side as a Lender, there is NO substitute for an experienced realtor when it comes to Multi-family. There is many more documents needed for me to do my Job correctly and efficiently.
I have to agree that many agents rely too heavily on technology in real estate. The art of picking up the phone and talking to another live human being is quickly fading way. Too many young people would prefer to be playing games on the ipad vs socialize with other kids. I still believe in calling the other human being to discuss topics vs texting or emailing.
Iron sharpens Iron. We can all learn from each other.
Thanks for sharing this vital information with us.
Great blog discussion. Technology is moving so quickly, hence why a lot of people prefer communication via text/email. Although convenient and most times easier, it also does create a lot of miscommunications like both Linda and JC mentioned. Sometimes picking up the phone makes the difference between getting a deal done and not!