Stop trying to give your clients everything, writes broker Joseph Santini. Focus on what is within your purview and direct traffic based on transactional needs.
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There are many moving parts to a real estate transaction, and you may be wearing many hats during the transaction as you work to successfully close the transaction for your client.
It’s imperative to stay in your lane to ensure you’re doing what you’re licensed to do and no more, and to avoid causing problems for yourself and your agent. Sometimes, the lines can be blurry.
5 ways to stay in the lane
Here are five things you can do to stay in your lane and avoid trouble.
1. Do not become a source of community bylaws, building assessment information, school district information, or property tax information. information
Instead, become the source of that information. Guide your customers to the direct source of the information they ask you for.
Have them contact the building directly for assessment information. Provide them with the property appraiser’s phone number for property tax information and direct them to the local county website for the latest school information on grade levels and boundaries. Be the source of the source.
2. Do not fill in the association application form Your customer is applying
Many clients will insist that you do this for them, but that’s their job. If you apply to them, be sure to provide the association’s phone number and let them know they can call the association office if they have any questions.
Not only do we want this to be their responsibility, but your time is valuable and should not be wasted on a task like this.
3. Never complete the seller’s disclosure
Your seller may say, “You’ve been to the property more times than I have” or “I’ve spent very little time on the property,” but in reality, their job is just to complete this information for the buyer.
Plus, disclosures can be easily filled out regardless of how much time they actually spent at the property.
4. Never do a final walkthrough for your client
Let them know the importance of the drill and suggest that they participate in it. Another option for them is to have a friend or relative take care of them.
When they can’t arrange to go there or get a friend to do it, they need to sign a statement not to do the drill and this should be documented. It is never an option for you to do so. How you communicate this to them is key so they don’t get mad at you.
5. Never hire a mechanic or inspector for your clients
When they need a certain type of service, it’s a good idea to recommend three providers to them and let them see which one suits their needs. The relationship should always be between customer and supplier. You never want to get into these relationships.
As real estate agents, we are helpful people at heart, and sometimes, we try to solve every problem for our clients, and that’s where the trouble starts. Always communicate with your customers that you want to make sure they have the best information possible and that you are directing them to the right source so they don’t feel like you’re knocking them off.
Remember, everything is good until things go bad. When something goes wrong, everyone has the easiest target to blame, which is you, the real estate agent, and your agent.
We are always just the real estate agents on the transaction. We are not inspectors, contractors, attorneys, tax appraisers, or anyone else involved in a real estate transaction. Stay in your lane and direct traffic if necessary. Your transactions will be easier, have far less hassle, and you’ll have more time to do the things that bring revenue to your business.
Joseph Santini is the managing broker of Coldwell Banker Realty in Boca Raton, Florida. Connect with him on LinkedIn.