In Episode 29 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over what you should do if your client makes a bad choice in the eleventh hour. Hear why Monica thinks you should be careful before rolling over and giving away your commission and why Jenn thinks you should not be afraid to get your hands dirty to make things right.
- What should you do if your client makes a bad choice in the eleventh hour?
- Jenn says that the more deals you do, the more frequently you’ll be in this situation.
- Most often agents give up part of their commission, which makes Jenn’s skin crawl.
- At one point, Jenn had a seller that took a mirror from the bathroom. She told him to put it back and he agreed to.
- In one deal, a client removed every single light fixture in the house and replaced each of them with junk thinking no one would notice.
- Jenn recommends having a heart-to-heart with your client. You can also speak to the other agent to see if there’s common ground.
- Jenn feels that they know they're being a jerk when they make these decisions. Don't work with them again.
- Monica doesn't think most people are trying to be rude. She tries to judge the action based on the character of the client.
- Monica isn't going to give up her commission without questioning it.
- She will give it up rather than go back on the market or waste more time. She values her time more than winning.
- Jenn invokes the written agreement. You can't change the game after someone has seen it.
- Monica wonders if agents should go out of the way to state the obvious.
- You can help manage expectations around these issues.
- Jenn seems to have a hard line on having the client fix the issue.
- Jenn thinks that in general fighting over this stuff is silly.
- Monica feels that agents are too quick to give away their own money.
- In general, agents don't ask enough questions.
- When they surveyed other agents, they found that in other states, attorneys handle it.
- Jenn feels that we can get our hands dirty and push our clients to do the right thing.
- We need to have higher expectations for ourselves and for others.
- Monica reminds us not to give up our income too quickly.
- Monica once had a buyer purchase a house with a pool and the seller took the pool equipment. They sat at the closing table in a standoff. Monica wrote a check at the table.
- Be nice to each other as agents.
- Jenn tells us to get in there and fix it.
3 Key Points:
- You don’t have to give away your commission. Have a heart-to-heart with your client and fix it. Ask questions before giving your money away.
- Sometimes you may decide to write the check because it isn’t worth your time to fight.
- Go out of your way to manage expectations and state the obvious around these issues.