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Real Estate Fight Club

29
Sep 2021

WWYD: Be Careful When A Client Ask You To Not Market Their House To A Certain Demographic Of Potential Customers- EP 33

WWYD (What Would You Do?) is a special series of The 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: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

 

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training)

27
Sep 2021

Should you charge a Transaction Fee Or Should It Be A Cost Of Sale?- EP 105

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are going to duke it out over “Should you, as an agent, charge a transaction fee for your client?” We don’t have to charge transaction fees, but let’s talk about whether or not we do. Keep listening to witness how Jenn beats Monica and changes her mind. 

 

Episode Highlights: 

  • Jenn talks about the average transaction fee that she sees these days. She sees anywhere from  $200 - $600 transaction fee.
  • There are brokerages in Cincinnati that require their agents to charge a transaction fee, and then they don’t give their agents any of it. 
  • Jenn says they were a team of 12 people with a lot of overhead and requirements. They had to keep and maintain documents for a certain time. They were charging $595 per file. 
  • Earlier, Jenn had tried to charge a higher commission rate instead of the transaction fee, but the fee went through a lot easier for her.
  • For Monica, the answer is NO, you should not charge a transaction fee. Instead of charging a transaction fee, Monica suggests charging the expenses or cost of sale. 
  • People are used to paying fees and it has been the same for so long. We have never adjusted the commission, and now we are just trying to get sneaky ways of earning more income, says Monica.
  • Jenn explains why she stopped charging transaction fees; They don’t have overhead anymore. 
  • Monica calculates, if we are doing 40 deals a year, and 30 of them are listings, then we are talking about $14,850. 
  • If you enjoyed this episode, let us know on our page!  Did you change your mind like Monica did? If you have other ideas or thoughts to share with us, please go to our podcast page - Real Estate Fight Club Podcast. We love hearing from you! 
  • Tiebreaker Aaron Sims believes that if an agent wants to, they can charge a transaction fee. 
  • Aaron shares what he says to people that are asking why that isn’t included in the commission.

 

3 Key Points:

  1. Monica inquired from Jenn instead of charging a transaction fee why did they not charge a higher commission rate?
  2. As a realtor, you charge what you need to charge for your commission and you should be able to defend that.
  3. Jenn asks Aaron why both sellers and buyers do not charge the transaction fee; why is it charged only on the seller's side?

 

*STOP yelling at your phone and yell at Jennand 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 Jennat 513-400-1691.*

 

Resources Mentioned:

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training)

22
Sep 2021

WWYD: Are Real Estate Agents Responsible For Treating All Parties Honestly? EP 32

This is a special series of The 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: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

 

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training

20
Sep 2021

Should Agents Set Hours Of Operation Or Be Available 24/7? - EP 104

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are going to duke it out over the question, “Should agents set hours? ” They both say “yes”, but there is more to it, so keep listening!

 

Episode Highlights: 

  • “Doesn’t everybody always say I just wanted to have a little bit more freedom in my life and that is why I became a real estate agent?”, asks Monica.
  • Jenn says that she used to be a people person, and that is why she became a realtor.
  • For Jenn, the thing about the hours is not necessarily like working from nine to five, and then the office is closed. People try to set that up on their voicemail which makes her insane or the email, “I’ll answer your email around 12:30,” and that approach also makes her crazy. 
  • There has to be some reasonableness like after X time; then, we will probably not hear back tomorrow. Part of the problem is we have so many agents where this is their second job, so they actually work after hours, says Jenn.
  • Buyers or sellers won’t meet you until they get off work, but here is the thing it is only because we allow it. They go to the doctor during work. They take their kids to school, they pick them up, do all this stuff and make it work. But because we are so “flexible,” we accept it. As per Jenn, it should stop.
  • We can’t put up listings while the office is closed, and the title company is not open. All the people that we do business with except us and lenders are the only ones that run around and pretend like there is a badge of honor to work 24/7.
  • Monica says it is not cool to run around and say, I am so busy, I have no time; That is just a red flag that you are not managing your time, and it is not impressive. 
  • Based on Jenn’s goals, she needs to have five appointments a week. She does that after her lead generation and leads follow-up.
  • Giving an example, Jenn says, suppose you make your appointments from three to five every day. You create that in your calendar, so then it is like – Ok, now I can meet you on Tuesday at three or Wednesday at four which is better for you, and then they will decide. It’s super inefficient to leave the question of time totally up to the clients.
  • As an industry, we need to do better and do business hours that make sense, and if that happens, then what do you think is the percentage of people that do this after work?
  • Monica says, “We can have agents that are working outside of their nine to five jobs, but then they have this small window to be really effective and efficient. But they can’t just assume that everybody is going to be up till 11.”
  • Tiebreaker Kati Ross says, set yourself some hours, give yourself time. Give yourself family time. You don’t need to be answering your phone at 9:00 o’clock at night to talk about a house somebody is interested in, it is not necessary. 

3 Key Points:

  1. Jenn suggests as an industry, we need to stop doing counter offers at 10:00 o’clock at night. 
  2. The reason agents take any appointment anytime and don’t set standards in their business or hours of operation is because they lack confidence in one or both of those things. 
  3. When agents have confidence in themselves as bringing value to the situation, they have confidence in their ability to earn income and have a thriving business.

 

*STOP yelling at your phone and yell at Jennand 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 Jennat 513-400-1691.*

 

Resources Mentioned:

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training)

15
Sep 2021

WWYD: Have You Ever Said Something Negative About Another Agent? - EP 31

This is a special series of The 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: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

 

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training

13
Sep 2021

Do You Have Additional Responsibilities for Vacant Properties?- EP 103

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are going to Duke it out over this question – "Do you do anything extra when it comes to your vacant listings or do you have any additional responsibility to your vacant listings?"

 

Episode Highlights: 

  • Monica says it depends on if your clients are in town or out of town. For her, if clients are out of town and she has to take on more responsibility, then she will be charging an additional commission. 
  • Jenn inquires, if they pay you, then what do you do? Monica replies it is not really pay in exchange for given tasks; it is just an increased level of responsibility and time. 
  • We can recommend someone going to the house for the time period that they are gone and it is waiting for a buyer so that it is not just an expectation that the realtor will fill that role.
  • Monica says it is all expectations because that is where you can get into trouble. They may assume that you're the one that's going to be at every showing, and therefore you can turn on and off the air conditioning prior,etc. Agents should be setting up the conversations that outline how they typically handle each situation.
  • Jenn says if you are an agent who goes to every showing or has agreed to that request, maybe you charge a little bit more, and even then, you are still not the cleaning person.
  • Monica says if sellers want me to clean their houses and I agree to do that for that listing, then at least I know what is expected of me. 
  • As per Jenn, turning on and off the lights is fine. She would do that as a buyer's agent. 
  • Monica suggests, "You can be a resource for these things. You should have contacts for people that will clean the houses. you present the solution that's your job but not executing."
  • Monica asks the listeners if you just have your average listing here in Cincinnati, and let's say it doesn't sell in the first three days as it has... Are you checking on the listing at all, or are you going over there periodically?
  • Expectations solve all of your problems as a real estate agent. Set them to ask, find out what the other side of the coin's expectations are like. 
  • Melody explains how she balances expectations and her commitments.
  • When Melody makes commitments to her clients, she makes promises that she can keep.

 

3 Key Points:

  1. Jenn points out that cleaning, painting, and fixing gutters are not part of the job as real estate agents. She wonders, "Would you rather me market your property to find a buyer or spend my time vacuuming? What are you paying me to do?" 
  2. Jenn suggests taking a look at really what it costs you. What is your net profit from taking a listing? Before saying yes to odd jobs at a listing, ask yourself, "Is that a $300.00 an hour activity? Was my time better spent? You are better off spending all the time marketing the listing, door knocking, circle prospecting, calling agents, putting up, you know, on Facebook, making a video, or something to get the listing out there, then you are painting the room. 
  3. Tie Breaker Melody Newman joins the conversation to share her thoughts about what do you do if you have a vacant listing? 

*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 Jennat 513-400-1691.*

 

Resources Mentioned:

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training)

8
Sep 2021

WWYD: Would You Grossly Over Price A Listing? - EP 30

WWYD (What Would You Do?) is a special series of The 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: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training)

6
Sep 2021

What Do You Do If You Find Out Your Buyer Is Also Working With Another Agent? - EP 102

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are going to Duke it out over this question - “What happens when your buyer is working with other agents or another agent?” How would you handle the situation? This is an interesting one!

 

Episode Highlights: 

  • If a buyer is working with other agents, then it depends on the client too, because we deal with a lot of investors sometimes in certain situations, it kind of makes sense for them to work with other agents, says Jenn.
  • There is something in buyers’ line of thought and logic where working with multiple agents makes sense.
  • Monica asks, if an agent had been the listing agent and they had just gone into an open house, would you press for the money? Monica has never chased after a buyer for money, even under a contract.
  • If Jenn has a buyer, then her goal is to get them under contract.
  • You can do all the right things and still get jacked around it. People think two agents are better than one, says Monica.
  • If we are not telling our clients what we are doing to help them, they assume we are doing nothing, says Jenn.
  • If you do things right and properly inform clients about your techniques regardless of the outcome, you have a client for life, says Monica.
  • Tie-breaker Adi Kol says working with multiple agents creates many issues, especially in such a distinct seller’s market where there is so much noise to begin with because of this technological time that we live in. 
  • The most expensive or the most important real estate or assets we have are time and money.
  • Adi says that if you are out there going and seeing properties with five different agents, he will not spend the same amount of time and energy because he knows that risk is inherent in the process.

 

3 Key Points:

  1. If you are not doing a hard-nosed buyer consultation, you are laying out the relationship, the commitments, the goals, the process, and all of it.
  2. Jenn suggests it is important that you do not go directly to the builder. If you get upset, you need to look at yourself as an agent and say - Am I doing everything possible for my clients?
  3. Going with multiple agents does not really benefit you because if you find one agent with your best interest at heart and a serious professional agent, they will get it done for you, says Adi.

Resources Mentioned:

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

 R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training)

1
Sep 2021

WWYD: Are You Misrepresenting A Coming Soon Listing?- EP 29

This is a special series of The 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: 

 

Thank You To Our Incredible Sponsor Partners (Get Great Discounts with these links)

Vulcan 7 (2 week trial for $49) - https://www.vulcan7.com/jennifermurtland/

Coach John Kitchens Get Your Free Business Assessment  at  https://coachkitchens.com (Book A Call - Use Affiliate Code Fightclub)

Ghostpostr $50 off coupon - https://www.ghostpostr.com/ (Get your daily posts - Coupon Code Fightclub)

 

R.E.A.L. Support Solutions - www.realsupportsolutions.com (Promo Code Fightclub for $100 off your first transaction or 3 hours of training

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