"So Mr. and Mrs. Buyer, I'm really excited about finding you the perfect property to suit your needs and I think I have a pretty good idea about what you're looking for. I am, however, still a little foggy about what price range you would be comfortable with...
... Ok, I hear that your decision will depend on what's available, and whether or not any given property fits your needs, but does that mean that you're OK with looking at million dollar homes or higher, or are you more comfortable somewhere below that number? ... Here's my problem Mr. and Mrs. Buyer, without a clear price range to consider we have over 500 homes we'll need to look at and I'm afraid that we're probably not going to have time to see all 500 within the next three days. Any chance we can narrow the search down to maybe 200 properties?...
...Ok thanks for giving me some more information, and yes Sir, I understand that ideally you would like a 3500 square foot home with at least four bedrooms and three and one half baths. The home must also have a tiled entryway with hard wood flooring beyond, granite counter tops in the kitchen and separate guest quarters preferably over at least a three-bayed garage with insulated shop facilities all on no less than five acres. Unfortunately, finding a home with those features under $150,000 will be a little tough. Yep, even in La Pine. Now, you say that you might be willing to go up a little in price. Can you give me just a hint just about how much more you're willing to go? That sure would make it a little easier on both of us... "
Sometimes as a Real Estate professional, it's a little difficult to gather from my clients the information necessary to properly assist them. And although I am admittedly exaggerating a little bit with my scenario cited above, I sometimes think that people are afraid that I might be the Real Estate equivalent of some kind of used car salesman; and that's a shame.I really cringe at the thought of being called a "Salesman" in the first place. To me, "sales," in the classic sense, is really not what we as Realtors are trained to do. If given a preference, I'm sure most Realtors would be much more comfortable to be thought of as more of a facilitator, or real estate advisor, rather than being tied to the negative connotations associated with that of a "Salesman."
Now, I know I'm setting myself up for some grief by insulting every other person engaged in sales, so I'll apologize in advance. It's tough duty that requires an interesting skill set to master. I actually have done serious hard-core sales in the past, vacuum cleaners door-to-door when I got out of the Navy. It took me exactly two weeks to realize that the object of that particular game was to extract as much money as I could from someone with whom I had just made friends. That didn't set to well with me, so I quit.
Real Estate is so much different. Granted, we Realtors do work on commission, and yes, the more money our customers spend, the more money we make. That's stating the obvious. However, what separates a Realtor from the common salesman is apparently not so obvious. Beyond ignoring a natural aversion to the cutthroat nature of hard-core sales, Realtors who might actually choose to engage in that kind of practice would soon find the process to be ultimately, self-defeating.
The lifeblood of a Realtor is the establishment of a reputation for ethical and honest practice. That's what separates not only Realtors from "salesmen" in general, but those who simply hold a Real Estate License as well. Many people might be surprised to know that not everyone that holds a Real Estate license is a "Realtor." It's not like calling any facial tissue a Kleenex.
Realtors belong to the National Association of Realtors and must follow a strict code of ethics. Here's a quick summary of what I mean:
From The NATIONAL ASSOCIATION OF REALTORS® website at www.realtor.org:
The NATIONAL ASSOCIATION OF REALTORS® Code of Ethics:
What Does it Mean for Consumers?
How does the Code of Ethics affect everyday real estate practices?
If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:
1. Be honest with all parties in the transaction - not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
For example, if REALTORS® represent a buyer with a spotty credit history, they can't be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.
2. Put your interests ahead of his or her own, at all times.
A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available.
3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller.
4. Be truthful in all communications with the public.
When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals' work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®'s experience and can make an informed decision when choosing real estate representation.
What Does it Mean for Consumers?
How does the Code of Ethics affect everyday real estate practices?
If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:
1. Be honest with all parties in the transaction - not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
For example, if REALTORS® represent a buyer with a spotty credit history, they can't be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.
2. Put your interests ahead of his or her own, at all times.
A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available.
3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller.
4. Be truthful in all communications with the public.
When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals' work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®'s experience and can make an informed decision when choosing real estate representation.
The only real "sales" I personally engage in as a Realtor, is the promotion of myself; and that's hard enough. Perhaps if Mr. and Mrs. Buyer realize that I'm not asking them to buy the Kirby in the trunk of my car, they'll tell me how much money they're willing to spend on their new house. That'll be the day.
Fred Jaeger is a licensed Oregon Real Estate Broker and an e-PRO Certified Realtor® affiliated with High Lakes Realty. He can be reached directly at 541 598-5449 or fred@fredjaeger.com .
be the very thing that many of us have needed.