Real Estate Fight Club header image 1

Real Estate Fight Club

31
Aug 2020

Episode 49: Should You Disclose If a Murder Happened in a Home?

In Episode 49 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley debate the ethical obligation realtors have to disclose to buyers if a home they’re looking at has had a murder, suicide, death or other disturbing incident happen there. Listen to Monica’s reasons why you should, Jenn’s reasons why she’s hesitant to make a definitive statement, and find out where the tie-breaker falls on the issue! 

Episode Highlights: 

  • Do you need to disclose a murder/suicide/meth lab/etc, that happened in a property?
  • Each state has legal guidelines about this, but Jenn and Monica are referring not to legal obligations but ethical ones.
  • Jenn’s initial response is that information is generally not applicable to the sale.
  • She doesn’t believe it’s unethical to not disclose.
  • Jenn also believes that she doesn’t need to disclose because most of the time if a murder or suicide happened recently, chances are a neighbor will be outside during showings offering that information for you.
  • Monica believes disclosing this information is important context about the history of the house.
  • If you disclose, and the buyers care about it, they won’t buy it; if you disclose and they don’t care, then it won’t matter.
  • Monica makes the distinction between unusual and disturbing situations like murder/suicide, and a natural death occurring in the home.
  • Monica also would disclose a meth lab because of the toxicity, and it’s along the same lines as disclosing lead-based paint.
  • Jenn and Monica discuss what they would do if a murder didn’t necessarily occur in the home but a convicted murderer or other criminal lived there.
  • Ultimately, Monica believes anything that might be important to the buyer should be disclosed.
  • Tie-breaker Maryann Ries comes on and uses the golden rule as her benchmark: “Would I want someone to disclose this to me?”
  • Particularly if something affects the value of the house, like a murder, it should definitely be disclosed to buyers.
  • Another question to ask is how long ago the incident happened—the longer ago, the less likely it is to affect the value.

3 Key Points:

  1. Some buyers won’t care about the history of the home.
  2. The context of the event that happened is important. For example: was it a long time ago? Did it involve someone who lived in the home but the event didn’t happen there?
  3. Consider whether it’s something you would want disclosed to you as a home buyer.

Resources Mentioned:

24
Aug 2020

Episode 48: Should You Put Your Picture on Your Marketing Materials?

In Episode 48 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether you should put your picture on your marketing materials such as signs and business cards. Hear why Jenn thinks your picture doesn’t add value and why Monica thinks you should leverage your face.   

Episode Highlights: 

  • Should you put your picture on your marketing materials?
  • Jenn has never put her picture on anything.
  • Jenn argues that after the first year, your picture ages you.
  • Monica doesn't think you must put your picture on your marketing materials.
  • She thinks if you want to be recognized, then using your picture is a good way to do that.
  • It's important for people to associate your face and name with real estate.
  • You need to be in this business for a long time to have a brand that really stands out in the market.
  • Jenn and Monica discuss whether your team should be named after you or not.
  • Monica doesn't think you necessarily need your picture on the sign.
  • Jenn can see how having your picture on your business card could be helpful at large networking events.
  • Monica doesn't think we use business cards much anymore.
  • Jenn suggests that if you order business cards, you should order a small quantity and get a friend to offer an honest perspective.
  • Monica argues that putting your picture on mailers allows people to connect with you.
  • Jenn questions whether pictures add value.
  • Jenn's number one reason why she thinks agents shouldn't use their picture is because she thinks it's dumb.
  • Tiebreaker Kerri Stretch does not use her picture on marketing materials.
  • Kerri doesn’t put her picture on signs as a safety precaution. 
  • Kerri suggests that people know you more by Googling you. 

3 Key Points:

  1. Your picture can quickly become outdated when used in marketing materials.
  2. Your picture can help people associate your name and face with real estate.
  3. You are your brand in real estate and can leverage your face. 

Resources Mentioned:

17
Aug 2020

Episode 47: Should a Buyer’s Agent Show Houses for Backup?

In Episode 47 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether a buyer’s agent should show houses for backup. Hear why Jenn thinks listing agents should show for backup offers and why Monica thinks buyer’s agents should be careful with their time.   

Episode Highlights: 

  • Should a buyer’s agent show houses for backup?
  • Jenn feels that listing agents should have 2-3 backup offers on their houses.
  • Having backup offers helps listing agents negotiate inspections.
  • Backup offers help sellers to feel that they're accepting the best offer out there.
  • Backup offers give a sense of urgency to the buyers.
  • Monica doesn't have time to show people homes that are already pending.
  • If Monica feels that a pending house would have been perfect for a client, she will take them to that house and encourage them to put up a backup.
  • Showing homes that are under contract is good practice for new agents.
  • If you're a new agent you need to be previewing property all the time and this is a good way to do that.
  • If you're the buyer's agent and you feel like you're wasting your time, then don't go.
  • Some buyers need to bump their heads a few times before they start listening to you.
  • Jenn thinks there should be a different status in the MLS. It's a cultural norm for people not to show houses that are under contract.
  • A ton of deals fall through because of inspections.
  • Remember the importance of communicating with other agents. We all have the same goal.
  • Jenn reiterates that you should show for backup.
  • Monica feels from the buyer's side, you should watch your time.
  • Agent Derek Tye weighs in as today’s tiebreaker.
  • Derek feels you should show for backup.
  • There are buyers out there with buyer's remorse.
  • If you want to build comps, you can help educate your buyer by showing them pending properties.

3 Key Points:

  1. Listing agents benefit from having 2-3 backup offers.
  2. Backup offers can be a useful negotiation tool during the inspection process.
  3. If you’re a buyer’s agent and a client wants to see a house that is already pending, you have the option to protect your time. 

Resources Mentioned:

10
Aug 2020

Episode 46: What is the Best Day to List a House?

On this episode of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley, alongside guest Rachael Real, duke it out over the best day to list a house. Hear why Jenn and Rachael prefer to list earlier in the week and why Monica thinks you should follow your client’s lead. 

Episode Highlights: 

  • What is the best day to list a house?
  • Guest Rachael Real feels this depends on the kind of market you're in.
  • Rachael likes Tuesdays because she wants to have a weekend.
  • Buyers in her area go out of town on the weekends frequently and those buyers will miss out.
  • Jenn likes Rachael's logic but she thinks the best day is Wednesday or Thursday. She thinks Tuesday is too early.
  • If you list on a Wednesday or Thursday you may not get syndicated until the last minute in Rachael's market.
  • Monica thinks you should list the house when it's best for your client.
  • Understand the market you are in.
  • Jenn argues that what's best for clients is to list when the most eyeballs will be on it.
  • It's really hard to drop everything and run out when you're trying to account for your time. This is the downside to listing on a Friday or Saturday.
  • Jenn does not think there's a strong case for listing it on any day.
  • Rachael says you can avoid some chaos when you're strategic about when you put it on.
  • Remember there is more than one way to be successful in this business.
  • Sellers want a system to be led through.
  • Listing property is all about confidence.

3 Key Points:

  1. Listing on a Tuesday or Wednesday allows the maximum number of people to see it.
  2. Listing on a Tuesday or Wednesday may be a better lifestyle choice for realtors.
  3. Ultimately listing on any day of the week may not provide a significant advantage or  disadvantage. 

Resources Mentioned:

3
Aug 2020

Episode 45: Do You Really Need a CRM?

In Episode 45 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether you really need a CRM. Hear why Jenn does not use a CRM and why Monica feels you need to have a system for managing relationships. Stay tuned for the insightful tiebreaker at the end.

 

Episode Highlights: 

  • Do you really need a CRM?
  • Jenn says no and that she does not use one.
  • You can get so busy working in the CRM that you're not doing the work. 
  • Jenn prefers communicating with people instead of getting trapped managing a CRM system.
  • Monica disagrees. You may not need a traditional CRM system, but you need something.
  • Monica uses Facebook as a key tool for relationship management. She also uses a wall CRM divided by As, Bs, and Cs.
  • A wall CRM allows you to see the relationships you need to manage and that can help.
  • Monica urges you to find a system that will work for you.
  • Jenn used to organize her CRM based on a daily folder system. 
  • Gary Keller of Keller Williams fame similarly used an index black file box.
  • The problem with CRMs is that we can overcomplicate them.
  • Jenn says that without some kind of system, your business growth is limited by your memory. 
  • Jenn's partner uses a CRM and reminds Jenn who to call.
  • CRM tools are only amazing if you use them and populate them with the right kind of information, and then deliver on it.
  • Don't get trapped. If you find yourself getting trapped, maybe you need something simpler.
  • Today’s tiebreaker guest, Alan Whisman, believes realtors need to use a CRM.
  • To stay in touch, you need some way to manage the relationship.
  • When you have a system to manage data, you don't have to think about it. 
  • It took years for Alan to perfect his CRM system.
  • Alan likes putting all of the data in one place and letting it sync with other tools he uses.
  • The best CRM is the one you're going to use.

3 Key Points:

  1. Even if you don’t use CRM software, you need a system for managing client relationships.
  2. The problem with CRMs is that we can overcomplicate them.
  3. Find a system to manage relationships that works for you. 

Resources Mentioned:

 

Podbean App

Play this podcast on Podbean App