Are we doing the OLD CAR list in our fiduciary duties to our clients

Are we doing the OLD CAR list in our fiduciary duties to our clients


(fireworks crackling) – Hi everybody, Cheryl
Knowlton comin’ at ya’ with your fifth and final for the week Dynamite Tip of the Day
on the biggest challenges that we face as real estate professionals. It came up in my Facebook
feed as we talked about this and had a discussion about
this, about bidding low. About a listing agent starting that listing price low in
order to start a bidding war. That prompted and sparked if
you will a lively discussion about ultimately what is
our job as listing agents. We make it so complicated. We have, one job. One job, and that is to sale the house. Sale that property, it’s
not necessarily a house. Sale the property for the highest price that the market will bear. Championing that seller
in every fiduciary duty that we hold, right. Old car, we talk about that in many other courses and in other videos. So if you don’t know
what I’m talking about when I talk about your
Six Fiduciary Duties and old car make sure you write that down and find the video on that or reach out to me and I would be very, very happy to share that with you. Bidding, starting low strategically in order to create multiple offers, yes that can be frustrating for buyers and yes that can be
frustrating for buyers’ agents. But remember, the object of the game for the listing agent
is to sell the property for the highest price
the market will bear, and championing the seller. So is that actually a problem that listing agents are starting low and then creating bidding wars. Not necessarily, especially
in certain price points where you realistically we can expect multiple offers anyway,
that needs to be something that you learn how to address. I have a course on that
called Juggling Chainsaws, that I love to teach and multiple offers are handled a little bit
differently in each state, because there are specific addenda. Make note of that, if
you need to learn how to up your game when it
comes to multiple offers. Write that down, make that a goal for this quarter, don’t wait. As things heat up over
the spring and summer you’ve got to know how
to champion your buyers and champion your sellers
by handling multiple offers in the very most strategic way possible, and that is my Dynamite Tip of the Day.

About the Author: Michael Flood

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