In my real estate career, the vast majority of transactions have been representing sellers. When we speak with sellers regarding their properties, it’s always best to assume that they are talking with at least one other agent. Recently I went on an appointment and I was one of four agents that was being interviewed.
This is a competitive business. We all need to present effectively and differentiate ourselves from the competition. It’s also a tough business, because sometimes sellers know several agents and decide on who will represent them without interviewing more than one agent. In those situations, the agents who missed out never even had a chance. Win or lose, nobody should ever take things personally. Whatever the outcome, it’s most important to learn and get better.
This spring I beat out two other Coldwell Banker agents on two separate listings. The difference in these situations can have oversized effects on agents and their families. They might have been counting on that revenue. There are times in the past when I’ve gone up against other agents and decided to team up with them. Rather than one person getting 100%, both get 50% if they are agreeable to such arrangements.
I have rules about teaming up. I only do it when (a) there’s a chance I might lose (b) I know the other agent and feel like we’ll work well together. Why didn’t I offer to team up with the other Coldwell Banker agents this spring? In one case I didn’t find out about the other agent until after I’d signed the listing. In the other case I literally only learned about the other agent as I was signing the listing. In both cases, there was no chance I was going to lose the listing, therefore there was no need to team up. Both agents are very good, and quite accomplished, so it’s not like they needed the revenue.
I do enjoy teaming up with other agents on listings. It’s a good opportunity to see how they do business, and improve on my own business. Despite the competitive nature of our business, I’ve found that most agents are open about how they operate. Two years ago, at an office meeting I walked everyone through one of my typical listing presentations. We all win when we all succeed.
If someone uses what I showed them to beat me on a listing, good for them. And good for me, it’s an opportunity for me to learn. The business changes so fast, some of what I presented in the office meeting is already obsolete. My marketing has only gotten better. I’m always thinking about how to reach more potential buyers with my listings. The year I stop doing that, is the year I’ll stop selling real estate.