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Real Estate Fight Club

8
Jun 2020

Episode 37: Should You Say Yes to Every Seller Opportunity?

June 8, 2020

In Episode 37 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether you should say yes to every seller opportunity. Hear why Jenn thinks you should say yes, even if you need to recruit some help, and why Monica thinks you should stay in your lane and focus on your area of expertise. Stay tuned for the tiebreaker at the end. 

Episode Highlights: 

  • Should you say yes to every seller opportunity?
  • Jenn says you should say yes to every seller opportunity, knowing that you may need to refer it out or seek help from another agent.
  • You want to keep the client, but if you don't know how to do it, don't do it alone.
  • Monica challenges Jenn by asking about the limits of expertise based on geographical areas. Cincinnati is split into the east and west side. For many agents, the other side of the city is like another land. Monica asks if Jenn would say yes to a listing in a part of town she didn't know.
  • Jenn would take the listing. If she doesn't know the area well and the data isn't obvious, she would likely consult another agent.
  • Monica provides the example of an area in Anderson that could be complex if you didn't know the nuances.
  • If Jenn doesn't want to drive to a faraway listing, she would likely refer it out or co-list.
  • Monica recommends staying in your lane. Having standards in your business will make a difference.
  • A lot of agents say yes because they don't want to disappoint the client.
  • Monica feels that if your way to help clients is to connect them with the right person, then you've done your job.
  • Trying to be all things to all people will get you in trouble and will prevent you from being the one thing you want to be.
  • Monica thinks agents say yes to everything out of scarcity. She says you'll do more business if you stay in your lane.
  • Jenn reiterates that she will take the listing not because it's a cash grab, but because it's something she's interested in learning, and she'll bring in someone whose lane it is in.
  • Jenn and Monica agree that if you aren't the expert, you should get someone else involved.
  • Ryan Rice, a realtor in Northern Virginia, provides the tiebreaker.
  • Ryan thinks you should take every seller opportunity.
  • In Northern Virginia, listings don't last long. Ryan clearly communicates with sellers about revising prices at a certain point if they want to list higher than he would recommend.
  • Ryan refers out his commercial leads but keeps them in his database.

3 Key Points:

  1. If you say yes to every seller opportunity, you have the option to refer it out or enlist help. 
  2. You may decide to stay in your lane and accept only opportunities that fall within your expertise. 
  3. If you decide to step into a situation where you lack expertise, don’t do it on your own. 

Resources Mentioned: