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Real Estate Fight Club is a podcast for realtors, hosted by Jenn Murtland from Team Synergi Real Estate and Monica Weakley from My Coach Monica. Tune in to hear two different viewpoints about topics agents face every single day! Jenn’s direct, ‘no holds barred’ approach is in opposition to Monica’s softer, 'more relationship-based' approach, and when the two get together… it is a battle for the ages! No matter who you align with, you will walk away with solutions for today's real estate challenges from experienced real estate professionals.
Episodes
Monday Jan 11, 2021
Monday Jan 11, 2021
On this episode of the Realtor Fight Club podcast, hosts Jenn Murtland and Monica Weakley are duking it out over how to handle when two of your own buyers want the same property. This one gets ugly before it gets pretty!
Episode Highlights:
- Jenn has run into the problem of wanting the same house as her buyers but did not compete.
- Unselfishly, Jenn has given up properties in the past that she wanted to invest in.
- It happens quite often that agent investors are interested in the same properties as their buyers.
- Monica chooses to hand off one of her buyers to another agent because she feels it’s the only way to be fair.
- Jenn has written two offers to multiple buyers that have wanted the same property and she has no problem with that.
- Monica thinks it’s hard to give your true opinion when you have other information in your brain about another buyer.
- When one buyer asks about the buying price, Jenn thinks it does not matter if there is another buyer.
- Due to the sheer amount of total offers on the house from all buyers, Jenn doesn’t see a conflict.
- Buyers will always have different desires and needs when looking for a house.
- Jenn believes it’s okay to disclose what you know that helps the buyer make the best offer possible.
- In this situation, Monica thinks that she could ask the buyer how they would like to continue.
- Jenn and Monica disagree on what dual agency looks like from the perspectives of the agents and buyers.
- There is a difference when representing investors and buyers that are going to live in the house.
- Agents don’t talk about this topic that much because it really doesn’t happen too often.
- Monica’s final take is that you can only represent one side if you want to avoid splitting your loyalty.
- Jenn is firm on her stance that you can represent both buyers, but that doesn’t mean it’s a good idea.
- Figure out why you are uncomfortable with the situation and determine if it’s about you or the buyers.
- This week’s tiebreaker, Frantz Benjamin, is a real estate agent in West Palm Beach, Florida with Century 21.
- Taking into account all competencies and incompetencies, Frantz is able to decide which buyer to represent.
- In the case that both buyers are qualified, Frantz would make sure to show them multiple properties.
- While he would inform each buyer that there are other offers, Frantz makes sure not to spill any confidential information.
- It’s important to have a like-kind property as a backup just to give the buyers choices.
- Educate your buyers as much as possible, but it is their decision at the end of the day.
3 Key Points:
- When faced with multiple buyers that have an interest in the same property, Monica chooses to hand off one buyer to another agent while Jenn has no problem handling both.
- Each buyer is very different and it’s very rare that multiple buyers with the same agent have the same requirements and limits.
- This is more of a hypothetical situation because it does not happen very often. In fact, in some places, dual agency is illegal.
Resources Mentioned:
Monday Jan 04, 2021
Monday Jan 04, 2021
In Episode 67 of the Realtor Fight Club Podcast, hosts Jenn Murtland and Monica Weakley discuss why they decided to change the podcast name, and duke it out over what to do when your listing is about to expire. Who would have thought that on such a special episode, Monica and Jenn would agree!
Episode Highlights:
- After receiving a ton of feedback, Monica and Jenn decided that it was time for a name change.
- All three of the MLSs that Jenn uses give 2-week notices when the listing is going to expire.
- It is the agent’s responsibility to be tracking the listing and to know when it is going to expire.
- The last thing you should do when the listing is about to expire is to avoid talking to the client.
- Refer an agent, or handful of agents, that you trust to bring new energy to the project.
- Client motivations should play a large role in whatever direction the agent decides to turn.
- Clear and consistent communications about marketing efforts throughout the process will make it easier to pivot.
- Monica has had an agent reach out to her about partnering on a stalled listing before contacting the client.
- Agents should be vulnerable and admit that they did not deliver, rather than blaming the seller.
- Take ownership of your failure and find the person that can help solve the problem while staying involved.
- It’s time to move on from the game if you dread reaching out to your clients about a problem.
- Most people that Jenn spoke to aren’t able to find solutions to the problem and just move on.
- Jenn, the agent, talks to Monica, the client, about the lack of results from the listing.
- Don’t over-explain or apologize when talking to your client; focus on offering a solution.
- This week’s tiebreaker, April Mack, is a high-level coach to executives, entrepreneurs, and realtors alike.
- Though she is no longer an agent, April always hated making the call as the listing expired.
- Everybody on the team has to take ownership of the problem and move forward with the solution.
- There are many different factors that make a property challenging, but blaming those will not help.
- It’s harder for a client to fire you if you meet with them face-to-face than over the phone.
- If you know that it’s not going to work out because of a personality clash, it’s time to move on.
- April will take on anyone at any point in their business because everyone should be growing at all times.
- Having a coach gives you the benefit of saying your thoughts out loud with someone to hear you.
3 Key Points:
- Clear communication throughout the entire process, especially if the listing is about to expire, is absolutely essential to keep a good relationship with the client.
- Agents need to take ownership of their mistakes when they can’t solve a problem and bring in the person who can.
- There’s no need to over-explain or apologize if you did everything that you said you could do. Just solve the problem.
Resources Mentioned:
- Jenn Murtland (website, LinkedIn, Facebook)
- Call Jenn at (513) 400-1691 to discuss transitioning to eXp Realty
- Monica Weakley (website, LinkedIn, Facebook)
- Realtor Fight Club Podcast Facebook page
- April Mack Website, Facebook
Monday Dec 28, 2020
Monday Dec 28, 2020
In this episode of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley throw metaphorical fists over this question: should you let the listing agent show your buyer the house? As usual, this one is fiery!
Episode Highlights:
- As a listing agent herself, Jenn doesn’t mind, though she thinks it depends on the circumstances.
- Monica thinks that you are not properly representing your client if you allow the listing agent to show the house.
- If you can’t go to the showing, Monica believes you should send another agent that you trust.
- Jenn believes that you must first determine if someone is a buyer or just a lead.
- Showing the house gives you the opportunity to hear about the buyer’s financial situation.
- The listing agents probably wouldn’t sell the house if they knew everything that was going on behind the scenes.
- There are a plethora of options for replacements to show the house and Monica believes the listing agent should not be first on the list.
- While Jenn wants an experienced agent, Monica thinks they can be inexperienced but still be able to do the job.
- Depending on the market, listing agents might actually be present at all the showings.
- Listing agents should take initiative to call the buyer’s agent to see what the buyer wants to see.
- There are a plethora of factors that go into this situation that need to be considered.
- This week’s tiebreaker, Joe McQuillan, has over 35 years of real estate experience and believes that there are 2 sides to this coin.
- While every situation is different, Joe believes as a general rule you should not allow the listing agent to show the house.
3 Key Points:
- Just because someone is looking at a house doesn’t mean that they are a buyer. You must separate the buyers from the leads.
- Allowing the listing agent to show the house should not be your first go-to, rather, you should reach out to another agent that you trust.
- If agents do decide to have the listing agent show the house, they need to prepare the buyer and the listing agent to make sure there’s no funny business and the agent can focus on what the buyer wants to see.
Resources Mentioned:
Monday Dec 21, 2020
Monday Dec 21, 2020
In this episode of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley are taking off the gloves and duking it out over this question: Should the lender have to pay for an extension on the closing? They are both FIRED UP about this one!
Episode Highlights:
- Jenn thinks that if it’s the fault of the lender, for whatever reason, they should have to pay for the closing extension.
- If lenders say it can be done and is going to be done, they have to remember the lives that they are affecting.
- Monica suggests that there could be an agreed-upon fee in case the lender does not deliver on time.
- Agents need to make it clear that if lenders blatantly screw up, they will never do business with them again.
- A centralized system where agents can give testimonials on lenders would make lenders care more.
- Be sure to share any previous poor experiences when a buyer brings a lender to you.
- Having skin in the game would force lenders to communicate more effectively.
- After talking to other agents, Jenn found that everyone was Switzerland on the subject.
- Lenders should do their due diligence before pre-qualifying anyone; it would save everyone a lot of trouble.
- Monica believes there should be consequences for the lender if they cannot deliver, but not from a financial standpoint.
- Agents have the power to force lenders to keep their word if they can combine forces.
- Jenn believes that it should be a financial punishment at risk of putting lenders out of business.
- This week’s tiebreaker, Gino Herring, has been a real estate agent for 18 years and provides insurance services through Mass Mutual.
- As long as agents make sure to educate their clients completely upfront, lenders should be punished for messing up.
- Agents must make sure to provide a top-notch client experience or otherwise accept responsibility for a closing extension.
- Overcommunication is suggested because under communication can dismantle a deal.
3 Key Points:
- When lenders ask for an extension, the effects go beyond money. People are moving their entire lives when changing houses.
- High ratings, paired with a large number of them, organically build trust with buyers and sellers alike.
- Problems that cause closing extensions can come from a variety of sources, including buyers, agents, and lenders.
Resources Mentioned:
- Jenn Murtland (website, LinkedIn, Facebook)
- Call Jenn at (513) 400-1691 to discuss transitioning to eXp Realty
- Monica Weakley (website, LinkedIn, Facebook)
- Gino Herring (Financial Representative Email, Realty Email, Linkedin)
Monday Dec 14, 2020
Monday Dec 14, 2020
On this episode of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over this question: do you need attorneys involved in the sale? Do Monica and Jenn disagree or are they just bumping heads? Decide for yourself!
Episode Highlights:
- Neither Jenn nor Monica works in a state that requires attorneys to close a real estate deal.
- In attorney states, attorneys handle the same tasks that agents handle in other states.
- Both Jenn and Monica think it just complicates the entire process when attorneys handle those tasks.
- There is no point for an attorney to re-review a contract that has already been reviewed.
- Monica thinks that while it is annoying, you can never be too careful so having an attorney isn’t always useless.
- One case that an attorney would be needed is if there is an addendum on the contract.
- Agents cannot give legal advice but might be able to work through the problem.
- These contracts have already been stamped, so going through that extra step wastes more time.
- Monica likes to have additional trusted resources as she always airs on the side of caution.
- Buyers and sellers can both bring their own attorney to the table.
- Attorneys begin to become a problem when it becomes overkill and returns are diminished.
- Contracts that become too long and complicated have been known to scare clients off.
- This week’s tiebreaker, Rachel Real, is a broker of her own real estate company in the Chicago area.
- Being in an attorney state, Rachel is not allowed to make addendums to the contract after it has been signed.
- Outside of Chicago, there are many areas in Illinois where they don’t use attorneys.
- Only a handful of states have statewide attorney mandates.
- Rachel does not feel that it is necessary to have an attorney involved because the extra time gives clients the chance to shut it down.
- Cities that are in an attorney state mandate a grace period to cancel for any reason after the contract is signed.
- Attorneys don’t know what agents have gone through to get the contract signed, so they should not interfere.
- Many inspectors allow the agent to create an addendum from the information on their report.
3 Key Points:
- Agents need to make sure when clients are seeking legal advice, in which case they need to be referred to an attorney.
- In non-attorney states, agents still have attorney connections that they can contact in case of any legal situation.
- There are pros and cons to having an attorney. A pro being an extra set of qualified eyes never hurts. A con being the time and possibly money wasted when including an extra step.
Resources Mentioned:
Monday Dec 07, 2020
Monday Dec 07, 2020
In Episode 63 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley drop the gloves over this question: should you do a final walkthrough? Will they finally agree on something? Spoiler alert...no!
Episode Highlights:
- Jenn doesn’t think it’s necessary to do a final walkthrough if a house is already vacant.
- Monica has seen some things in her day, like a flooded basement or smashed window the day before closing.
- In Monica’s eyes, you absolutely do a final walkthrough because the money is on the line.
- The final walkthrough is to make sure that everything has been completed.
- Jenn prefers not to deal with buyers because of the high level of maintenance and nerves.
- Unless there has been a big storm or unmitigable circumstances, Jenn just doesn’t think it is necessary.
- As per usual, everyone agrees with Monica that it is better to be safe than sorry.
- Use the reason for doing a final walkthrough to determine the best time to do so.
- The only times that Monica has seen disaster is when she has not encouraged the buyers to do a final walkthrough.
- Jenn thinks measuring in the final walkthrough is useless, if you like your furniture then bring it.
- This week’s tiebreaker, Cassie Burns, serves the Cincinnati area with iHeart Real Estate.
- With so many close calls, Cassie believes in final walkthroughs with a passion.
- To clarify, Jenn is not team “no,” she is team “not always”.
- It gets awkward if there is occupancy at closing, and that is just one thing that agents would like to avoid.
3 Key Points:
- Jenn believes that it’s not necessary to do a final walkthrough all the time, but that doesn’t mean she doesn’t encourage it. She sees the benefits of both sides.
- Monica always does a final walkthrough because throughout her career, she has seen last minute disasters that could have ruined their respective deals.
- Your reasons for doing the final walkthrough will decide when is the best time to get it done.
Resources Mentioned:
Monday Nov 30, 2020
Monday Nov 30, 2020
In Episode 62 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley, along with guest host TJ Gausman, duke it out over this: should the buyers pay their own agent’s commission? Until now, TJ has split his tiebreakers between Monica and Jenn, so hear who TJ sides with on this one.
Episode Highlights:
- TJ says there is no way that the buyer should pay their agent’s commission.
- First-time homebuyers have a hard time in the difficult market and would have added emotional stress if they had to pay.
- Monica thinks that the industry would face a massive amount of unrepresented buyers if it was left up to them.
- It would be bad for the real estate industry as a whole if buyers choose to be unrepresented.
- Jenn thinks that buyers should have to pay for their representation.
- Buyers don’t see the value of the agent until the moment that the agent delivers.
- Both TJ and Monica believe that adding a buyer fee would significantly change the way that buyers would choose to be represented.
- Jenn believes that if buyers cannot afford to pay the fee then they cannot afford the house.
- The 6% commission is kept by the agent as a listing fee whether the buyer is represented or not.
- TJ explains to clients that selling agents take commissions and when they do decide to sell, they will pay that commission.
- According to Bravo TV, there are no buyers’ agents in England at all.
- Ultimately, the buyers are paying for the agent, it’s just packaged within the price of the house.
- TJ believes that if appraisers didn’t build in the commission into the value of the home, they would sell at a lower price.
- According to Jenn, buyers wouldn’t vanish because they are paying a fee anyway.
- It sounds like there will be no agreed-upon precedent from this bout, pinning Jenn against TJ and Monica.
- TJ is team Monica on this one, claiming that the system is not broke enough to add an extra variable.
- Jenn respectfully disagrees, saying that because it is your purchase, you should pay for representation.
- Buyers may or may not choose to go unrepresented, but that’s where these sides differ.
3 Key Points:
- Agents are not able to show their value to the buyers until they deliver, so it’s hard to ask for a fee at the beginning.
- Monica and TJ fear that most buyers would go unrepresented, while Jenn looks to the small number of sellers that go unrepresented as a sign that buyers would follow the same line.
- Appraisers build the commissions into the price of the house but explaining that mental Olympics might scare buyers off from their agents.
Resources Mentioned:
- Jenn Murtland (website, LinkedIn, Facebook)
- Call Jenn at (513) 400-1691 to discuss transitioning to eXp Realty
- Monica Weakley (website, LinkedIn, Facebook)
- TJ Gausman (website, Facebook, LinkedIn
Monday Nov 23, 2020
Monday Nov 23, 2020
In Episode 61 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley are not fighting, but discussing this question: are self-showings the way of the future? Well, they’ll always be around, but listen in to hear why Monica and Jenn say no way!
Episode Highlights:
- Monica believes that there will always be value in being led through the most important purchase of their lives.
- Some people are going to be impatient and always choose the self-showings.
- Jenn is for self-showings for immediate responses and treats them like an open house.
- According to Jenn, there is value in a buyer rep but the buyer, not the seller, should pay for that rep.
- Many buyers will not shell out money to be represented and that may turn them away from using an agent.
- If an agent doesn’t have experience with a lot of clients, they just get in the way.
- Once buyers have seen the house on Zillow, they are allowed to go outside and bring their own buyer rep.
- Builders will honor agents who represent a client, even if the agent was not present at the initial meeting.
- The best buyers are ones that have taken the time to go through the process and examine all the details.
- Monica always wants to be a present-tense agent who takes care of her clients after they’ve bought or sold their house.
- Self-showing programs won’t ruin your business as long as you take care of your clients.
- Neither Monica nor Jenn thinks that self-showings will negatively impact their business.
- While you need to be there to serve your clients, don’t be a concierge agent.
- This week’s tiebreaker, Leonard Cradit, is a Franchise Development Manager for Exit Realty and has a real estate team in Michigan.
- With over 30 years of experience in real estate and property management, Leonard has seen greater success when agents are present.
- An agent’s presence allows real estate teams and properties to pivot rather than lose a client if they don’t like what they see.
- While it could be done over the phone, Leonard thinks clients appreciate the in-person service.
- Sales and success ratios reflect that people appreciate agent-led showings.
- Self-showings could give some relief to scheduling conflicts with clients, but that may make them question your validity.
- Leonard thinks that the industry is damaged more and more the further it gets from hands-on service.
3 Key Points:
- People are better off doing a self-showing than using a terrible agent that is only going to mess up the deal.
- Self-showings are really just ways of showing houses to unmotivated buyers.
- Agents need to be agents to their clients every single day rather than being a paste-tense agent.
Resources Mentioned:
Monday Nov 16, 2020
Monday Nov 16, 2020
On this episode of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley throw down over whether you should use your commission to settle buyer and seller disputes. Politely, they agree to disagree on this one!
Episode Highlights:
- Jenn believes that because the agent is not a part of the contract, they should not be part of the negotiation.
- Monica thinks there are definitely times where it absolutely makes sense to throw in from a financial standpoint.
- Besides making a mistake, Jenn thinks agents are too quick to dip into their commission to get the deal done.
- As agents, your time is valuable, so don’t partake in anything that does not pay you for your time.
- Monica dealt with a client that was willing to walk for $600 over principle, so she decided to pay out of her commission.
- Jenn thinks that agents should walk away because she expects the other side to cave in.
- Monica looks at the consequences way down the road and lets those weigh into her decision to use her commission.
- Don’t just immediately give up your commission, but if it makes sense financially, don’t be blind to the benefits.
- If you decide to walk away, you have to spend more time finding a new deal, and also, having your sign up for that long looks bad.
- Even though you are willing to give up your commission, it’s not ethical to ask the other agent to give up their money.
- Jenn believes that if the parties involved in the contract can’t figure it out, then they are too caught up in their emotions.
- If you are able to get your clients all the way to the end, make sure they cross the finish line.
- Monica and Jenn actually agree that too many agents give in far too early.
- Buyer’s agents tend to give in more frequently, and they can’t be sure that they are going to get the deal.
- Monica hates that agents consider themselves busy with tasks other than buying and selling houses.
- Take your desired income divided by your hours to determine the worth of your hourly pay rate.
- This week’s tiebreaker, Anne Uchtman, is an agent and the Director of Agent Development and Training with StarOne, so she knows the rules.
- If a deal with the other agent has been reached, then Anne believes it’s worth it to dip into commission.
- Agents aren’t just showing beautiful houses all day; there are plenty of challenges and hindering factors.
- It’s in the code of ethics that agents need to cooperate with each other in the best interest of their clients.
- Every brokerage has different rules in regards to their agents cutting a check to settle a dispute.
- While this is a viable tactic, it is not to be regarded as the first line of defense.
3 Key Points:
- Agents need to understand the value of their time so that if they are doing any task that does not sufficiently pay for their time, they know they need to back out.
- The difference between buyer’s agents and seller’s agents is that buyer’s agents don’t even know if they’re going to get the deal, thus making them more likely to give up their commission with the long process.
- Though they agree that agents give in too early, Jenn and Monica differ in their opinions on whether or not you should dip into your commission at all. Monica says yes while Jenn says no.
Resources Mentioned:
Monday Nov 09, 2020
Monday Nov 09, 2020
In this episode of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over what to do when your friend hires another agent. This has happened, and will happen to every real estate agent, so pay attention!
Episode Highlights:
- Agents’ egos get hurt when their friends choose another agent.
- It might be on you for not doing your due diligence.
- Plenty of people don’t want to mix business and pleasure and prefer not to work with their friends.
- You can’t just assume that everybody is comfortable working with you.
- Be upfront and ask if your friends are comfortable working with you or if they need a referral.
- You never know if someone has an agent that their family has used for years.
- It’s always harder for an agent to put their ego aside when they find out in another way than hearing it from their friend.
- Jenn has incredibly thick skin from her experience making cold calls, so this does not bother her too much.
- Monica has shear-thin skin and has had her feelings hurt in the past by friends not using her as an agent.
- It’s important to let go of this one and move onto the next deal.
- If you have a problem letting go, there might be a problem with the friendship or the business.
- Agents have no problem promoting their side gigs but they do have a problem promoting their real estate business.
- Every agent has had a friend choose another agent over them.
- Instead of being poisonous, look back and determine what you could have done differently.
- Post every day on your social media about real estate in a creative and engaging fashion.
- Monica has created an entire library of creative post ideas that you can use for your social media.
- Jon Bowling, this week’s tiebreaker, is one of the top performers with ReMax out of Cincinnati.
- Running a sphere of influence business leads to an 88% failure rate amongst real estate agents.
- You can inquire about why they didn’t choose you without ruining the relationship.
- Jon has had multiple friends that have passed on using him as an agent and is still friends with all of them.
- Generating leads in multiple ways is the best way to make sure your real estate business stays above water.
- Agents have all had situations where friends did not choose them, yet they continue to come to them for advice.
- There is definitely a wrong way to react to this whole situation; don’t burn bridges.
3 Key Points:
- It’s wrong to assume that your friends are comfortable working with you. Do your due diligence and ask them.
- Present yourself as a real estate agent whenever and wherever you can or you will get put in the friendzone.
- Communicate with your past clients and sphere in a fashion that will cause them to give you business or refer you.
Resources Mentioned:
- Jenn Murtland (website, LinkedIn, Facebook)
- Call Jenn at (513) 400-1691 to discuss transitioning to eXp Realty
- Monica Weakley (website, LinkedIn, Facebook)
- Toe 2 Toe Podcast Facebook Page
- Jon Bowling (LinkedIn, Facebook)
- GhostPostr