In my last article, I promised to expand on my opinion that it’s possible avoid burnout by “Declining the Monkey” with a client or prospect – and that it’s preferable if you Decline that Monkey without alienating your client.
“The Monkey” is Terry Watson’s description of a problem or dilemma that ISN’T your problem or dilemma, but someone else wants you to take responsibility for it. Happens all the time in real estate, doesn’t it?
The first trick to respectfully declining your clients' monkeys is to know which monkeys are appropriate to decline … and which are rightfully yours to carry. Yes, when our clients hire us, they have a right to expect us to take on some of the burden of their real estate transaction. Entering into a real estate agent/client relationship creates responsibilities on each side. The clearer you are on whose responsibilities are whose, the easier it will be to assign them to the appropriate party.
Put another way, what factors of the transaction are within your control, which are within your client's control and which are out of either of your control?
You control:
- the services you are willing to provide
- the marketing you are willing and able to do
- the price at which you are willing to take a listing
- whether or not you will take a short-sale listing
- the times you are available to your buyer
- the expertise you have in advising a seller how to prepare for market
- the resources you have in place to help a seller prepare for market
- your willingness to show short sales, foreclosures, FSBO's or new construction
- how often you will communicate with your client
- how much you charge for your services
Your client controls:
- the price he is willing to list and sell for
- how much he is willing to "come to the table with" if he's upside down in his mortgage
- whether or not he's willing to short-sell
- the amount of work he is willing to do and the funds he has available to prepare for market
- the times he is available to look at houses
- what marketing services he will require from his agent
- how much he is willing to offer on a home
- whether or not to allow unrestricted showings
- whether or not he wants to pursue short sales, foreclosures, FSBOs or new construction
- whether or not he is happy with the inventory in his price range
- how much he is willing to pay for real estate services
Neither of you controls:
- changing lending requirements
- overall market activity
- the cost of home maintenance and repair
- interest rates
- closing costs
- the underwriter
- the agent on the other side of the deal
- the buyer or seller on the other side of the deal
So, how are these "control" issues relevant to getting the various monkeys assigned properly?
Stay tuned!
Published: February 22, 2010
Use of this article without permission is a violation of federal copyright laws.
 Jennifer Allan is a former top producing real estate broker, a published author, a speaker and a trainer. She has written five books a
bout the business of selling real estate, including her flagship book: Sell with Soul: Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect. Her new book entitled "If You’re Not Having Fun Selling Real Estate, You're Not Doing it Right!" will be released in early 2010.
Jennifer believes that the secret of success for real estate agents is not in aggressive marketing techniques or hard-core sales pitches, but rather in being competent in one's craft. Competence begets Confidence. And in today's world of increasingly suspicious and ad-weary consumers, having an air of self-assurance and enthusiasm will be far more effective than a slick sales campaign.
Jennifer writes and speaks with this philosophy in mind. She preaches that salespeople should follow the Golden Rule in their day-to-day practice of business - treating clients and prospects respectfully, as the salesperson him or herself would like to be treated. Being competent, reliable and fair, and motivated by a true desire to earn a paycheck, not just show up at closing with hand outstretched.
She is a regular contributor to several real estate newsletters and magazines, a member of the RE/MAX Hall of Fame and one of the industry's most popular bloggers. You can learn more about Jennifer's "soulful" philosophies at www.SellWithSoul.com.
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