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Real Estate Fight Club

16
Aug 2021

Should Real Estate Agents Sell Their Own Homes? -EP 99

August 16, 2021

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are excited about approaching the 100th episode and plan to celebrate it!  This week they are duking it out over “Should you represent yourself when selling your own home?” Jenn is against the idea of real estate agents selling their own homes. Monica sees no harm in it. Tune in to hear all of the best points!

 

Episode Highlights: 

  • Real-estate agents have years of training and experience, and if they have the license too, there is no harm in selling their own home in Monica’s opinion.
  • Jenn points out that people don’t just sell a house for fun. For most people, there are emotions attached, like kids going away to college, getting married, getting divorced, or relocation; If a real estate agent is selling their own home, they won’t be able to move past their emotions when dealing with a client.
  • Monica is confident that when selling her home, nobody can represent her better than her. She won’t trust another agent to talk to that other agent in a way that is appropriate for Monica or answer the questions as she does.
  • Jenn says that it is not your ability to complete the work, it is everything else. If you’re selling your own home, you are not a transactional agent.
  • When selling their own homes, the deal is not transactional but relational, says Monica.
  • Due to the relational component,  Jenn suggests that is why you get your friend who is a great agent, just like you, or better to help you with the process because you are too deep in it. 
  • Monica affirms if she had to hire somebody, she would hire Jenn to sell her house. She knows who the good agents are. That being said, it is just not necessary if she is ready to sell her home, she is detached.
  • Deciding and negotiating the price is a lot of fun, and Monica knows how to negotiate on her behalf. She knows what she is willing to give up when selling her own house.
  • Jenn inquires if Monica has been too emotional to make a decision; any decision not just about a house. 
  • What you are bringing to your client is not just that you have a license. You are bringing a whole perspective to help them get what they want, and that is what a realtor would do for you. 
  • As a real-estate agent, Monica just thinks this is a place where she can be really efficient in several ways: efficient in negotiations, efficient in managing the deal, and efficient in handling the finance. She cannot see any reason why she wouldn’t represent herself unless she felt unsure about her ability to separate emotionally.
  • Aubrey, the tiebreaker for this episode, says when selling her own condo, the thoughts that crossed her mind were,” I do this every day for people all day long. What’s the big issue? Why would this be hard for me to do?”. She shares her personal experience.
  • Jenn asks Aubrey, “What happened when you went and bought as someone representing yourself?”
  • Aubrey’s advice for real estate agents is, “Just do yourself a favor and get somebody to represent you.”

 

3 Key Points:

  1. Jenn asks why owners can't sell their own houses. Monica replies that sale by owner is not a good option because they are not licensed agents, and they don’t sell 30 to 50 homes in a year. 
  2. Monica says she had sold three or four of her own homes and never have had a problem. 
  3. Tie-breaker Aubrey Ballinger joins the conversation; she is totally against the idea of real-estate agents representing themselves in a deal.

*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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