When you list, market, sell real estate, the service is total knowledge of the property, whether it's an adorable cape cod with the white picket fence or 100 acres in the middle of nowhere on a remote river and in the deer infested woods of say Northern Maine.
Three words that buyers, sellers, lawyers do not want to hear you mumble are these when asked a question. "I don't know." Buying or selling real estateis a big big step in people's life. And if you are the listing agent for a property, when asked where are the property lines, you better know. How old is the roof or how long has that furnace been leaking? When does the seller have to move, has the water test been taken or appraiser been here? You need to have covered those areas with the owner.Rarely should you look like a deer in the head lights when asked a series of questions about a place or if quizzed on what is taking this closing so long to happen.
An on the ball real estate broker is in touch with the bank involved in the sale, the lawyer working thru the right of way easement that was known from the beginning when the property was listed. He knows what caused that dip in the kitchen floor, what personal property is staying, that that antique light in the dining room is being replaced with a $200 allowance from the seller for another light fixture of the buyer's choice. A good broker asks questions, listens, pays attention and cares about all the details of the real estate sale. That is why he is a broker, not a CPA or a mortician. He loves, eats, drinks, thinks, sleeps real estate. That's what he does, who he is. The "R" is on his blazer for a reason, he earned that merit badge from effort, desires, passion for his profession.To bumble along and smile and say over and over "I don't know" when posed questions causes the buyer to think "I don't know if I want to buy this place..everything is so vague". Or a seller to squirm in his chair and think "This guy seems distracted or somewhere else, or just is not that excited about the place like I am so maybe we need to find the phone book and go to the next guy on the list." If the buyer or seller have to fend for themselves for answers, details, why do they need a broker in the triangle? You are supposed to know the property and tons of information about the place pops to mind because you love real estate. And like the fellow that collects baseball cards and can quote statistics, history of all the cards, all the players and teams, you are the same sharp as a tack about property, the buyer, the seller, the process. You love property and study all the small details, the differences. AND you know about financing programs, about marketing with blogs, video, podcasts and email or direct mail campaigns. you've been around many lawyers, know your way around the registry of deeds, understand legalese 101, banking 304 and have the credits, scars, trophies to prove it.
You are the same Mr Fountain Of Information for your area, involved in your local community and are the go to for details, direction, knowledge or advice. If you do get asked a question you don't know the answer to, indicate you will find out and do so as promised quickly making the call right there and attempting to promptly shed some light on the concern, the missing information. You'll find out. You teach others what you have learned from the owner, past history of sales, talking to the neighbors, the fellow who pumped the septic and knows where it is, and have gathered the low down on this real estate you are privledged to be able to sell. If you are involved in the process and expect a commission for the sale of real estate, you have to know the real estate. Know the situation of the person you represent, their time table, desires or conditions that affect the sale. You don't just show up for a check and smile at a closing. Do your "homework" on the property or person you represent.
To say "I don't know" is like being in a classroom for the day of the big final exam and you have not opened a book, asked any questions or were sound asleep in the class when the topics were covered that are now being tested on. I don't know if you will graduate to the next listing class because each property, each buyer and seller is a course of study, unique, and why a full time professional Realtor is neeeded to make the sale happen. You do the match maker job of bringing seller and buyer together all the way to the closing and after. When you the broker know your stuff inside and out, folks feel comfortable, relaxed that someone like a pilot of the airplane knows what the heck is going on in this real estate process. Worries cause doubt. Doubt causes folks to drag their heels and become reluctant. No sales makes Johnny or Jane Broker frown and irritable.
Maine REALTOR Andrew Mooers - Maine Is Simple Living, Affordable Real Estate, Friendly People.
Andy, that is just so true. If you don't know it doesn't look good at all. There is always something that you will have to ask the owner, but hey, on the whole you should know. Great post!
I agree.We should do our homework before showing homes . We should know all important things about the house even if it is not our listing we should read about it in mls.
What am I selling? What's the deal with the owner or buyer I represent, what's my role as Mr Realtor with the utility belt in this operation. Knowledge, being a professor of real estate, working hard on every aspect of the sale full tilt, wide open like a world class athelete always studying and to learn more, to be better, to adapt to change, to stay postive, to juggle lots of sales but have each owner or buyer feel like you are only working on their deal. Calling them and communicating how that last buyer liked the place because you leave the parties hanging when they have to draw their own conclusions,
Andrew, I'm sorry, but I will respectfully disagree. Yes, you should be prepared and try to get all the information for the area and be ready for questions. But, there are some pretty weird questions and no one knows everything. I think it's better to say, I don't know, but I'll find out for you, rather than fumble with an incomplete or inaccurate answer.
Andrew - The more answers you have the more confidence they have in you. With that well placed confidence they are comfortable making their buying decision and sales will be "easy". Nice post and mindset.
Hi Andrew ~ You make a good point but I gotta say - I'm somebody who never tries to act like I know something that I don't. And one of my pet peeves is people who spout misinformation because they think it makes them look better than admitting they don't know. But I do agree - you've got to instill confidence in customers and clients so the more you know or the more readily you get answers to their questions the better.
Liz
Liz and Jim...know the answers to the common highlights of the property. Don't try to bluff if you don't know but the point is know your basic property inside and out. I was at a co broke showing and the buyer I was with asked where the lines were. This is not a bad question but the look from the listing agent was one of what a silly question and it never got answered. They did not know or thought isn't it obvious. What are the taxes, what it cost heat, questions that everyone wants to know and asks and as a broker, should be prepared for. Don't get me wrong, there are some questions you don't know the answer and will get right into gear and get addressed. I.E would the owner sell the lawn mower with the three acre lawn and if so how much...you might not know but there are no doubt questions. In no uncertain terms do you spout out misinformation or puff up the sale. If there is no knowledge of what is there for a septic, never say oh I assume this or that. Unknown, no guarantees and work thru to find out with calls to the last pumper, former owner if this is an estate and no one has a clue. Make the effort to know the property, make the calls. I was a news director of a radio station so with effort, you can find out alot from neighbors, etc. Take it all with a grain of sale but don't just say I don't know. Because it can be construed I don't care...just want a check without the effort.