All Things Real Estate: Don’t underestimate building rapport, relationships

All Things Real Estate: Don’t underestimate building rapport, relationships
Philip Raices

If you are a seller, investor, purchaser, or even potential tenant, are you being properly advised and educated sufficiently enough or seeking out someone to consult you about the current challenging market?

Do you know enough about how to strategize and position yourself as a seller? If an investor, are you doing your due diligence when looking and finding a quality property and knowing the short and long-term R.O.I.?

As a purchaser who has dropped out for a multitude of reasons, have you thought outside the box and your need and desire for the creative and cutting-edge ways to keep you in the market?

Even if you are looking for a rental, are you open to learning how you might potentially be in a position to purchase by listening and learning various strategies and methods of ways that you can accomplish this to be a homeowner and build your long-term wealth?

To me as a professional Real Estate Broker, building a spark that leads to a positive rapport and long-term relationships with a Realtor will assist you in gaining a trusted adviser, with the expertise and knowledge that you deserve.

This will surely assist you in saving, earning, and keeping more of your hard-earned dollars in your pocket (instead of someone else’s) in the short and long term.  This is also of utmost importance for all Realtors in doing the same in building and growing their businesses and income.

There are times when we as brokers have to take a step back and pay it forward by giving more than we may take.  We must take into account, realize and be cognizant that some of our clients might be having difficult times financially or are looking for guidance and have many pressing questions in solving their dilemmas.

Our job is to always try to perform skillfully and to take a position to be the best “problem solvers” and have the required and necessary and complete knowledge to step up to the plate to be a troubleshooter, fixer of issues, and difficulties in coming to satisfactory resolutions.

This will lead to minimizing stress for all involved, maximizing client satisfaction, and solving issues along the way to the closing table.  This is the most advantageous path to take in leaving a lasting impression.

We as Brokers surely need to earn a living especially today with the costs of everything and the intricacies of running a successful and profitable business.  However, many lose sight of what is truly most important: taking care and the concerns of our clients.

It’s not about selling anything, but what it’s about is nurturing, guiding, and educating consumers to assist them in making the best and most advantageous decisions in the sale, purchase, or investment of the most expensive and valuable asset that they will have potentially owned in their lifetimes.

Being at the top of one’s game will be tantamount to becoming more involved and being transparent, sympathetic, compassionate and empathetic.  Appreciating and understanding client concerns worries and stress during the selling, investing, purchasing, and renting process will aid in dealing with minimizing and solving those bumps in the road.

This can only lead to a stronger, more caring and mindful importance of those crucial and valuable relationships and a foundation for continued success today and in the future.

A client might want or need to buy a home. Let’s call that home “chocolate,” but some will try to sell them another home. Let’s call that “vanilla” just to make a sale and not focus on their “specific needs and wants” by working smarter and harder to find their chocolate.

I would rather do the latter by growing a stronger connection and greater confidence with consumers for future referrals and recommendations.  That is the true lifeblood of any successful long-term business.

Over the last year or two, there have been major lawsuits against the National Association of Realtors as well as some of the largest firms due to issues with “supposed” fixing and inflating commissions.

However, there are appeals currently underway.  Part of the problem that has led to this unfortunate event is the lack of providing accurate information, transparency in the transaction, and the discussion of fees and how and why we don’t just get paid for doing what we do, but why and how some of us earn our commissions: being the best we can be in becoming our clients’ best advocate and representative whether a seller or buyer’s agent during the transaction.

From my 42 years in the industry, I have never seen any Broker or company fix commissions.  We don’t put handcuffs or any pressure on any homeowner and the seller has a legal right to say no to any specific amount of commission.

Negotiating is part of the proceedings.  Way back when, we got paid a higher percentage on a sale and our remuneration was less.

As prices and our expenses have increased drastically over the years, those who do their business in a professional, candid, upfront, and legal way by adhering to the NAR code of ethics as well as the “fair housing” rules created by HUD, in most instances charge less of a percentage but are worth what they earn today.

The “cream of the crop” follows the rules and regulations and are a cut above the rank-and-file.  We deserve our income because we do the right thing for our clients. I wonder why (my estimation) 100,000 agents have left the industry since 2020?

I always say, “Nobody cares how much you know until they know how much you care and know!”

Martin Luther King Day on Jan. 15 was the day to celebrate the efforts and sacrifices of MLK and others to gain a fair and equitable playing field to be treated as equal human beings with all the benefits and the freedoms, opportunities and the right to be treated equally.

Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck.  For a 15-minute consultation, value analysis of your home, or to answer any of your questions or concerns he can be reached by cell: (516) 647-4289 or by       email: [email protected]https://WWW.Li-RealEstate.Com  

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