Stop Working for Free & Start Living By Daniel Pendley
How many of us would keep going to work if our boss told us that we weren’t going to get paid? Not many, if at all. Ask yourself this question “when I go to the Doctors office, do I have to fill out paperwork, PRIOR to me being seen by the Doctor? Absolutely. How about your attorney, will he do his work, prior to getting a commitment? Never. Even if he takes it on contingency, he gets a commitment in writing prior to doing any work. When you go to the mechanic, will he repair your car without an authorization to work? No, he won’t. Even a mechanic get’s a commitment prior to his work. So why then do Realtors? Because, that’s how it’s always been done. While it may be hard to admit, Realtors are working for free. Ask yourself this question, “Have you ever driven a buyer around looking at houses, taken your time away from your family, spent your gas and time, only to find out later, they did buy a house but from someone else?” Of course you have. We all have. Have you ever completed a CMA prior to going on a listing appointment only to hear those famous last words after you presented your CMA to the seller, “ Do you have a business card? We want to talk with other realtors!” This is why Realtors are working for free. If we want to be perceived as professionals, then our practices must reflect professional behavior, just like a Doctor or attorney. For the real estate agents who are tired of working for free, there is a better way. Before you put a buyer into your car, meet with them at your office. Educate them properly about home purchasing. Get them pre-qualified by your lender. Don’t take their word for it; have them obtain a written pre-approval from your lender. Then, explain why it is in their best interest to work with one exclusive agent, rather than 5-8. I have identified over 28 reasons why a buyer is better off with one exclusive Realtor, rather than multiple, non-committed realtors. For example, explain to them that as a buyer, they are in a better negotiating position if they have a pre-approval letter with a deposit receipt on record.	Then have them sign an exclusive right to acquire property. A recently study supports this view. It showed that buyers who did this, saved approximately 5% over buyers who did not. It is quite simple to get a buyer to sign once they are properly educated to the facts. When working with sellers, get a commitment before doing a CMA. Discuss your plan for getting them more money. Many sellers list with the agent who promises the highest price, with the least amount of commission. This results in over priced listings with little or no motivation for other agents to sell it. Anyone who knows anything about real estate knows this is ridiculous. Sellers should list with the agent who will provide the most service and deliver the best result. I would personally rather see an agent work with 50 committed buyers and sellers per year than 150 that have not committed to you. The result is you will have more time to spend with your family, going to your child’s soccer game or just doing things you love to do. If you choose to work with a client who is not committed to you, it will cost you your time, energy and money. Remember to keep your eye on serving families and you will reap the greatest rewards this business can offer, a balanced life. In conclusion, don’t confuse how it’s always been done, with the best way to do something. Awareness is the first step. Make a commitment to “Stop working for Free.” Your family will thank you; your bank account will thank you; your clients will thank you, and you’ll become a much more professional Realtor. Daniel Pendley is an international speaker, sales trainer, and author. He has personally trained over 100,000 real estate agents and companies how to skyrocket their incomes, while still having a life. Learn more about multiplying your income, at www.DanielPendley.com or at www.stopworkingforfree.com
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