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Real Estate Fight Club

5
Jul 2021

Oops The Other Agent Made a Mistake on The Contract- EP 93

July 5, 2021

On this episode of the Real Estate Fight Club podcast, Jenn Murtland and Monica Weakley are going to discuss what your obligation is to the other agent when they make a mistake on contract and it’s in your client’s favor. This is a tricky one!

 

Episode Highlights:

  • Monica says depending upon the situation and deal, she will allow the agent to make the correction. If it is more serious, she will run it by the client to inform them about the error and provide helpful information. 
  • Jenn says she will talk to both agent and client as it needs to come out because ultimately, clients will figure it out.
  • We need to make sure that the spirit of the contract remains intact.
  • Monica says she likes to win, but the issue is defining what the win is.
  • When we do business, there could be different problems in different markets.
  • Jenn and Monica agree that you try to win every battle while negotiating, but you have to focus on winning the war of getting your client their dream house.
  • If you know what your client wants, the better way is to complete the negotiation on time for the most money, says Monica.
  • Once you understand someone’s thinking, you can understand what questions they have, and you can work around it to get what you want.
  • In order to solve client problems, you need to know their problems, and to know problems, you have to ask questions.
  • Jenn introduces Chris Perez, Broker Owner of Real Estate Craft in Fort Lauderdale, Florida. 
  • In today’s episode, Chris is going to answer the tie-breaker question, “What is your obligation to other agents when they make a mistake on contract, and it’s in your client’s favor?”
  • If we know that our agent is inexperienced, then it’s our responsibility to protect the public from harm.
  • Chris says maybe the agent misunderstood something regarding the property or misrepresented it to the buyer that can be corrected.
  • Jenn says if it is an error, you should talk to the seller that you have made a mistake and get it correct.

 

3 Key Points:

  1. Many clients think a win is like winning the deal of price negotiation, but the real win is when you sell your house within the time frame you want.
  2. Jenn affirms that as a real estate agent, the job is to determine what can make clients happy because what you think and what clients say may be different.
  3. Chris says his first obligation is to the client and he processes the challenges through that lens.

 

*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:

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