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Real Estate Fight Club

28
Apr 2021

WWYD: Can You List a Property at an Excessive Price?-EP11

This is a special series of Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault. 

Resources 

26
Apr 2021

To Price a Home, Do You Need To See It? -EP83

On this episode of the Real Estate Fight Club podcast, hosts Jenn Murtland and Monica Weakley discuss the question: “Do you need to walk through a house before you price it?” Tie-breaker Michelle Weadbrock joins in to express her views on the topic. 

 

Episode Highlights: 

  • Jenn says she does not need to do a walkthrough of a house before pricing it because in this market, you can get a close figure that would be good enough.
  • Monica points out that there can be issues like smell which can affect the pricing of a house. 
  • Jenn supports technology-based research and gathering the details on a client call. 
  • When it comes to visiting houses, Jenn is 50-50 about it. She is not a “YES” all the time. 
  • Jenn says, “Where we live, there are not a lot of variables.” If she is an area with a lot of variables, then she will go.
  • Monica shares one incident when she visited a house, and there was a working wood mill behind it. It was great, but it was loud. 
  • Monica stresses the importance of visiting a property to plan the staging of the house properly.
  • Jenn and Monica discuss how you can get persuaded or influenced once you get into a house. 
  • Tiebreaker, Michelle Weadbrock, thinks that if you ask the right questions visiting a property is not required. 
  • Michelle  uses technology as a tool to tour the house using video calling to look for things  like broken ceilings, cracked walls etc.
  • Jenn asks, “Are there certain circumstances when you absolutely have to walk through a house or  do you think that you never have to?” 

3 Key Points:

  1. Monica points out that apart from the smell, the woodwork and condition of the house are also important to note. "When you get inside a house, you feel it." 
  2. Jenn and Monica discuss whether they would go and see the property if they get a listing. 
  3. Jenn and Michelle talk about several questions that one can ask to get an overall idea about the property and if it's totally necessary to go see it in person.

 

*STOP yelling at your phone and yell at Jenn and Monica instead! Join us EVERY Thursday at 12pm EST for Real Estate Fight Club in Clubhouse. If you have an iphone but don't have an invite yet, text Jenn at 513-400-1691.*

 

Resources Mentioned:

21
Apr 2021

WWYD: Can you advertise sold properties from previous Brokerage?-EP10

This is a special series of the Real Estate Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault.

Resources

19
Apr 2021

Your Friend Lists Their Home as an FSBO EP82

On this episode of the Real Estate Fight Club podcast, hosts Jenn Murtland and Monica Weakley brainstorm about what happens when someone lists their property as “For Sale By Owner” (FSBO). Monica Weakley starts the episode with a genuine question and tries to understand why people choose to do such a thing?

 

Episode Highlights: 

  • Jenn points out the obvious answer that it is more about money. 
  • Monica says that when it comes to selling houses, she goes more towards the security aspect.
  • Buyers know why people have listed houses as FSBO, and they usually dupe the owner. 
  • Jenn shares a classic example by hinting at the entire process towards garage sale. She asks, would you ever go to a garage sale and pay the total price? Monica gives a flat “No” for an answer.
  • Jenn and Monica discuss how to ask friends if they are planning to list their property as FSBO.
  • Jenn shares that people are often scared to deal with FSBO.
  • Monica urges the listeners to think: “Do you have an agent you are comfortable with?”
  • Monica shares her concern that if a friend decides to list their house as FSBO, they should somehow convince them not to travel through that road. 
  • Tiebreaker Mike Morawski joins in to share his views and experience related to FSBO.
  • Mike is a trainer and coach in the real estate industry, he also has two podcasts, Insider Secrets and Multi-Family Unplugged
  • Jenn asks Mike “What do you do when your friend decides to list their house as FSBO?”
  • Mike prefers his friend to approach him and discuss their problem, concern, or opinion regarding FSBO, rather than finding out later. 

3 Key Points:

  • Monica asks Jenn “What do you say specifically to convince your friend not to list their house as FSBO?”
  • Listeners get to know Jenn’s and Monica’s number 1 tip for a friend who has listed their house as FSBO, and it is already too late.
  • Mike believes in following simple strategies and plans, and it is to give back. Even if it is someone he does not know, he will help them in such a manner that they benefit from it. 

Resources Mentioned:

14
Apr 2021

WWYD: Dual Agency Commission Disclosure?- EP09

This is a special series of Realtor Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault

Resources:

12
Apr 2021

Should Residential Agents Sell Commercial Property? EP81

On this episode of the Real Estate Fight Club podcast, hosts Jenn Murtland and Monica Weakley are locking antlers on the topic - What do you do when your buyer wants to see a commercial property, and you are not a commercial agent? During the second half, Todd Schroth, an EXP agent, joins in to answer the tie-breaker question.

Episode Highlights: 

  • Jenn sees all queries as listings, so she partners with a commercial agent to learn about it. 
  • Not jeopardizing the client relation, she hand-holds her clients and stays with them when referring them to an agent. 
  • Monica points out the different types of commercial listings and talks about how some commercial listings are similar to a residential purchase process.
  • Jean and Monica discuss the importance of knowing critical nuances of an area that a realtor is handling.
  • Todd Schroth was asked the tie-breaker question, "If your client wants to see a commercial property or something out of your wheelhouse, what do you do in such a situation?"
  • Todd points out that when it comes to commercial real estate, the first step of any successful commercial real estate’s career is learning about the types of sectors.

3 Key Points:

  1. Monica points out - Are you doing something that you know you shouldn't be doing? 
  2. Jean highlights how it is essential to stay true to your profession; when venturing out of your area of expertise, use your brain.
  3. Before venturing into commercial properties, it is crucial for a residential agent to know the nuances.

Resources Mentioned:

7
Apr 2021

WWYD: Home Recording Devices Versus Speaking Negatively About Another Agent- EP08

This is a special series of Real Estate Fight Club Podcast where we talk about situations that are potential ethics and professional standards violations. What Would You Do in these situations? All cases mentioned and the code of ethics can be found at www.JenniferMurtland.com/Vault 

Resources 

5
Apr 2021

Do You Always Say Yes to Buyers? EP80

On this episode of the Real Estate Fight Club podcast, hosts Jenn Murtland and Monica Weakley are butting heads today. Do you always say yes to buyers when they want to see a house that doesn’t meet their needs? Monica just started intermittent fasting, so she is extra touchy in this one!

Episode Highlights: 

  • Monica has been dealing with buyers for over 18 years and has seen plenty of buyers land on a house that didn’t match the initial criteria.
  • A house that doesn’t meet someone’s needs is not the same as a house they don’t qualify for.
  • Monica makes the assumption that different features can act as substitutes, so she takes them regardless.
  • Though she is willing to show these houses, Monica does not move her schedule around to do so.
  • Jenn demands to know why her buyers don’t like a house to see if there’s a possibility of putting in an offer.
  • After putting in a ton of work to find out what a buyer really wants, many agents get impatient when they are sent a house that does not match.
  • If buyers explain their thought process in detail, Jenn is able to counter with either an understanding or rebuttal.
  • Monica shows these houses because she does not believe it’s an agent’s job to predetermine the outcome of a showing.
  • Many agents avoid pushing the potential client out of fear of losing the potential sale.
  • Buyers don’t always say what they are looking for, so agents must push to figure out the unsaid.
  • Monica sees house showings as opportunities to learn more about what a buyer really wants.
  • There’s a lot that you can find out about someone by spending just one hour with them.
  • Jenn’s big takeaway is that agents make sure to ask questions and know that it’s okay to push for clarity.
  • Extremes don’t work; the answer is somewhere in the middle with some common sense mixed in.
  • If you’ve done your job as an agent and dug deep, there should be no rational surprises.
  • Joan Cummins has been a real estate agent for over 15 years and is currently in South Florida with Splendor Realty.
  • Before meeting with her customers, Joan goes through an assessment, evaluation, and determination.
  • By the time she meets her clients face-to-face, Joan knows enough to confidently reject requests to see houses outside of the criteria.
  • Depending on the source of her clients, Joan may be inclined to do a buyer contract, but for the most part, she does not.
  • When it comes time to tell her clients no, Joan refers back to the information that she has gathered in her preparation.

3 Key Points:

  1. Based on the budget and desired location, agents can determine if there is wiggle room on the initial criteria.
  2. While Jenn needs a valid, logical reason to show a random house, Monica is willing to show these houses based on a buyer’s desire.
  3. At the end of the day, buyers don’t always know what they want. It’s an agent’s job to figure out what they are not saying.

Resources Mentioned:

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