PAULA'S SOUTHAMPTON BLOG: DO YOU HAVE A "GO TO" GUIDE FOR YOUR REAL ESTATE ISSUES??

DO YOU HAVE A "GO TO" GUIDE FOR YOUR REAL ESTATE ISSUES??

"HOW TO" GUIDEDO YOU HAVE A "GO TO" GUIDE FOR YOUR REAL ESTATE ISSUES??

When I have a problem with my business I sometimes have to get outside help. Outside help is NOT easy to find. I don't like to burden my family and friends with these issues--they can get as upset as I am by the problems that come up, and I have learned the hard way that managers are not always the best advisors!

Some agents have a management team in place to help out on these issues, but in many cases, you don't want to discuss certain things with your manager especially if he/she is a direct competitor.

This sales agent/manager combination is happening more and more frequently in today's real estate brokerages. We are all independant contractors so it is imperative to get the best objective advice from the least threatening source.

 

THE MOST COMMON WAY TO HANDLE ISSUES:

Sometimes just talking out a situation with someone does the trick---other times you need a good solid point of view from a practiced, established real estate professional.

A fellow agent can be helpful however, I find that they don't really have the time you may need to tackle an issue, unless you know an established agent who is willing to advise freely! When you do ask for help from another agent make sure to let the individual know that you are willing to reciprocate on such things as open houses or stepping in to open a listing or do a showing.  

SOME EXAMPLES OF MINOR PROBLEMATIC ISSUES:

I am not talking about legal advice here; most problems that arise in real estate are mundane and will never become an issue that needs legal guidance, unless you handle a situation poorly! However, it is very important to get professional input as you sort out a problem that has taken you off focus.

  • Issue with other agents who have been trying to approach your buyers/sellers inappropriately.
  • Need help with an overpriced listing and a resistant seller.
  • Need help on how to procure a listing when an owner is hesitant to list
  • A negotiating issue that is taking too much time to bring to closure; another point of view could help speed it up.

If you are a new agent you may need a more established agent who "knows the ropes" better than you on minor issues that could turn into major problems.

Talking to your fellow agents is one way to handle difficult issues, however, I have discovered that the more complex issues need a more educated approach. So, I go looking for the right "Guide" to help me get past the bumps that are hard to tackle on my own.

SOME EXAMPLES OF MORE COMPLEX ISSUES:

  • You have a situation with another agent who is a "favorite" in your office and who seems to get all the "big" listings that come in.
  • You have a seller who suddenly decides to cancel your listing agreement based upon something your company has done.
  • You have a question about the ethical behavior of a fellow agent whom you are tied to in a team.
  • You have a manager who has not got your best interest in mind when you have a conflict with other agents in your office.

The longer I am in this business the more I understand the need for a "Guide" or an adviser whom you pay for their help/advice....a business coach for example. I have found that these coaches charge around $100 or less a week if you sign up with them for a regular counseling session. Some of these large "Coaching" companies work for groups of people but they command a very large fee and lots of time that I don't feel I want to commit to...I like more individual attention.

Since real estate business affects a buyer or seller where they "live" and has a greater "psychological impact" than almost any other business, it could help to get the advice of a "counselor" with a PHD who has a business background. Find someone who can coach you when things become problematic withUse A Guide other agents, your company, your buyers and/or sellers. Set up an appointment, a time where you will not be interrupted.

No matter whom you choose, a professional counselor/coach or an adept fellow agent, you will benefit in many ways---it is all part of doing business the right way, especially in today's market where you have so much to lose if you don't make the right move or decision. Seeking professional advice about your real complex estate issues can be career changing, especially if you find a well established agent or coach!

WHAT SAY YOU?

DO YOU HAVE A DIFFERENT WAY OF GETTING THE RIGHT ADVICE ON REAL ESTATE ISSUES?

 

 

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                                     **ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY.  The views expressed herein are my personal views and do not reflect the views of Douglas Elliman Real Estate

 

Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate

Southamtpon Village Real Estate Specialist since 1995;  Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York

Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005

 

Click here to see my Hampton's website to see all my listings; please email me or call me for all your real estate needs in Southampton, Bridgehampton and Watermill:  http://www.elliman.com/paulahathaway

 http://www.hathawayhamptonhomes.com

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Comment balloon 45 commentsPaula Hathaway, REALTOR, Sr. LBA, • December 21 2016 03:43AM

Comments

Paula, I’ve found that most of the help I need is intact in the legal arena.  We’re lucky to have a wonderful title company/law firm next door.  The lawyers do a lot of our contract training and are available for answering questions and giving advice on how to resolve whatever the problem might be.  

Posted by Patricia Kennedy, For Your Home in the Capital (Evers & Company Real Estate, Inc.) 8 months ago

Patricia: You are very lucky---I guess I may find out that a lot of the large real estate firms have the same thing. That would be great. I do find that in the case of the company I work for, there is a wonderful legal department but there have been cases where I called for some help on personal matters as mentioned here and I got a rather snappish response that I should not be calling them directly--my "manager should have made the call"...so that did not go well at all.

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Paula Hathaway, REALTOR, Sr. LBA, - Sounds like there is more at stake here if you are competing with the manager and if there are "favorites" in the brokerage.  That's why I'm an independent broker. Maybe something to consider?

Posted by Hella Mitschke Rothwell, Hawaii & California Real Estate Broker ((808) 226-1095 or (831) 626-4000) 8 months ago

Hi Hella,

You have a point however, the longer I remain in the business the more I see that is the way I will go eventually, but for now it is important to get the best help I can find---Others are in the same situation as I am, I am sure.

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Paula Hathaway, REALTOR, Sr. LBA, I utilize our Real Estate Commission hotline when I have an issue.  They are most helpful and I can get an answer from them very quickly.  A guide, however, would be nice to have! 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 8 months ago

I find my colleagues are a good resource.  It can be a challenge when mangers are competitors or have favorites.  

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) 8 months ago

I'm in a small community and specialize in property management. It's hard to find help from anyone locally so I joined a professional organization, National Association of Residential Property Managers (NARPM), so I could network with thousands of professionals around the country. It's a huge help!

Posted by Nathan Gesner, Broker / Property Manager (American West Realty & Management) 8 months ago

Great advice!!!

Find someone who can coach you when things become problematic with other agents, your company, your buyers and/or sellers. Set up an appointment, a time where you will not be interrupted.

Posted by Sham Reddy, CRS (H E R Realty, Dayton, OH) 8 months ago

Debe: Your Real Estate commssion sounds great--if you have someone like that to turn to it is very comforting in my opinion. However, if there is no such commission available to you it makes it very hard to deal with this business day to day, especially if you are having a difficult time with other agents.

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Joan: I find that too--other agents can be invaluable if you have good relationships with them. Sometimes however, it does make sense to get as far away from the problematic environment as possible to seek help. That is where I find my business "guide" is fabulous.

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Nathan and Angie: Sounds fabulous! If you have the benefit of organizations like that it is a huge help....I wish there were such things here. Unfortuantely, we have real estate groups locally that are paper pushers only--no real person to have a heart to heart with. We even pay them dues!! 

Sham: Thank you foor readiing...AR is another place, by the way where there is a fountain of information about what to do in certain difficult situations...this site has been a godsend to me in the past when I have certain issues that I can't discuss with my fellow agents.

 

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

I've been in real estate for 25 years and in the corporate world in executive management for 20 years. I'm pretty much past the point of needing to ask for much advice from others in my day to day life when it comes to my business. I work as a sole practitioner in my home so not involved in office issues or politics. When I do need a more specific answer on something that is legal related, I call our broker in charge to make sure I'm not breaking any rules. I've had coaches... and I've found they are typically so long out of the real business of selling real estate their advice is often useless and out of date.

Posted by Nina Hollander, Your Charlotte/Waxhaw/Fort Mill Area Realtor (RE/MAX Executive | Charlotte, NC) 8 months ago

My managing broker is my go-to source for these types of issues.  I'm lucky to have a good one and he always seems to have sound advice.

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) 8 months ago

Nina: You are fortunate that you can handle your own issues, especially with the changes that real estate has gone through of late. I have been in the business since 1993 and I still find I have things that come up that I have never seen before! Of course your situation is very different than others who have the influence of fellow agents and maybe a not so supportive management team--Count your lucky stars that you don't have the unfortunate possibilities that crop up in this "new" real estate environment. It is very different today than it was even 5 years ago!!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Broker problems are the worst.  It's kind of like Junior High School sometimes.  I found when I went with the big company and concentrated on my own sources of business, that drama went away.  Sometimes I reach out to specific agents when I have a dilemma, but thank goodness, that isn't very often. 

Posted by Jeanne Gregory, The most important home I sell is YOURS! (RE/MAX Southwest) 8 months ago

Magaret: You are very fortunate indeed! Many agents whom I know have the single most difficult situation in their own management teams! I found that things changed after the housing recession--more and more of those whom I used to count on for good advice and support became adversaries.

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Jeanne: You are very lucky and I guess when you have good and supportive friends in the business nothing comes close to their good judgment! I have a few and I do find that there are more than a few who seek my opinion. I just had a call yesterday from an agent  whom do not know that well but she knows who I am and I was able to guide her through a situation where she was at her wits end in trying to get her rental commission from a landlord. Rentals have become more problematic with Air B&B and others who the homeowners go to directly for their tenants--they have a hard time understanding why they have to pay a commission now! Meanwhile the agent was able to find them a tenant who was paying twice what Air B&B was able to get for them! She was very happy with how I advised her to handle it and she got her commission right after that....she did not want tot go to "Legal" to go after the money....very happy I was able to help her out!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

I am lucky to have multiple sources to turn to. We have a wonderful manager who is experienced and can give good advice. We have a State Association legal hotline we can call. We also have a very experienced office and nearly everyone is willing to give you some time to answer a question. It also never hurts to have someone not in your industry who can advise you from a totally different perspective.

Posted by Nick & Trudy Vandekar, 610-203-4543, Tredyffrin Easttown Realtors, Philly Main Line (Long & Foster Real Estate Inc 610-225-7400) 8 months ago

Nick and Trudy: I agree completely that an outsider is a great thing when it comes some business issues. You are very lucky to have a "Hot Line" you can call in the event you have a sticky situation that calls for immediate advice! If I were asked to give one single suggestion to a major real estate brokerage it woud be to offer a "Hot Line" to all agents sponsored by said agency....Nothing takes the place of a supportive team when it comes to advising real estate agents in this often divisive and complicated industry!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

We have been given, as well as instructed, to ask, seek, knock, investigate and yearn for whatever we want or need to know. Whats left is to do it....

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) 8 months ago

Hi Richie: Thanks for reading the article--I agree that we are all encouraged to ask for help when it is needed but the question remains: To whom do you direct your question? I have found it safer and more informative to go to someone outside the normal channels....Hope you enjoy the Holidays and have a Happy New year too!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Hi Paula,

I found that having a Mentor, especially for newbies, is quite helpful.  Some of these people are simply just trying to "pay it forward" by offering their advice and guidance to these newer agents.  Another source could be to create MasterMinds with "like"-minded agents and professionals.  They can be a great source to run different ideas or receive advice.

Posted by Mike Bjork (American Pacific Mortgage) 8 months ago

This is a great resource Paula Hathaway, REALTOR, Sr. LBA,  it's important to have a go to colleague in Real Estate or a licensed professional. Thank you for sharing.

Posted by Zurple Marketing Team, Zurple, Client Generation Software for Agents (Zurple) 8 months ago

Congratulations on your feature!  I go to my broker if I have any issues. Even a legal issue. He has a hotline he can call for legal advice. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Residential Brokerage) 8 months ago

Mike: Great ideas! I think your idea of "MasterMinds is terrific; that would work for those of us who have no real protection through our management teams. As to the "mentors" ---that idea is also a good one but the problem is finding a qualified agent who can devote that kind of time to a new agent---We had mentors in our office but half the time they were busy agents who "used" the newbies as an assistant, not making it lucrative enough for the agent doing all the work. The Newbies end up leaving the business usually, discouraged at the amount of work it takes to barely scrape by! It did not work very well at all. There was no oversite and that can make the difference.  If you have a management team in place to over-see the way the new agents are treated, you are more apt to have a success from Mentoring.

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Zurple Team: Thanks for reading the post--I hope you will be able to glean good ideas from the comments here too---there are quite a few!!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Sheri: I see that you too have the benefit of someone with a "Hotline"...that is such a good idea that I may mention it to my management team just to see if that is a possible company wide possibility!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Good eveing Paula Hathaway, REALTOR, Sr. LBA, ,

Our Broker is not a competitor ....no salesagent/Manager in our office! We can go to her or any number of agents for expert advice on anythy situation..we have title people to call and an attorney to call if really needed. We mentor new agents all the time as we enjoy giving back. We watch each others back and there is never a time we can't get good solid advice from seasoned agents. I've been in the business for 25 years and keep up on all the nuances of changes..the only thing that is constant is change! But our broker makes sure we are on  the cutting edge. We would never think of not going to a sales meeting..so informative and always learning something with time for discussion!  

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) 8 months ago

Paula, I am lucky I work in an office where the Broker In Charge does not compete. I like Debe also can call the NC Real Estate Commission hot. The NC Association of Realtors also has a free legal hotline!

Posted by Tom Bailey (Margaret Rudd & Associates Inc.) 8 months ago

Paula, you are in an unusual market.  There is no real MLS and Real Net is like the wild west with no real over site.  Add in locations that are constantly within the top 25 most expensive zip codes in the country and sellers become very stubborn as to what they think their property is worth.  Having "go to people" regarding zoning, set backs, Historic Districts, etc" can only help.  Even the most seasoned brokers out there need to ""have chats"" with outside people.  

I have been appraising your area for over 10 years and still rely on contacts for certain issues.  Trying to get someone who is not familiar (think underwriters, people who have inherited properties, etc) that the values change once you cross over Hill Street, go south of Ox Pasture, etc doesn't help.  

Posted by Anthony Vosilla (Tony's Appraisal Services) 8 months ago

Dorie: You are so fortunate to have systems in place to handle unexpected issues...It sounds like your broker of record is on top of things and does not allow anything problematice to upset his applecart! That is such a good thing--one never knows how great a supportive management is until you don't have one!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Tom: Those Hot Lines seem to be the answer for many brokerages and their agents...I may make a suggestion to my mangement to see if they would offer such a service...

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Anthony: Sounds to me like you have a real understanding of this market place! You can add to your list the fact that appraisers from outside this area have no idea what they don't know about it---causes havoc with property values in a deal or with re-financing!! I have seen appraisers come up with pricing that is so far beyond the real value and I have seen the opposite where they can't find comps so they under price a property and use Long Island comps which does not apply here...regardless, thank you for getting "it" when it comes to this marketplace!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

I would always go to the broker when I ever had a question hands down.

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (Real Estate and Beyond, LLC) 8 months ago

Harry: Obviously you have a broker who is open to helping you out and whom you trust--that is great and an ideal situation. Many of us do not and those are the agents to consider here...just what are they to do to make sure that they get the best advice for their business? I do believe that one should seek out the best outside source for this advice, even if you have to pay for it!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Even shrinks have shrinks to consult.   Always good to have a wise go-to person for a sage second opinion.

Posted by Brian L. Sirota, Esq., For Solutions: (714) 501-7660 (Bristar Realty (Realtor/Attorney)) 8 months ago

Brian: I agree totally and that is what inspired this post---as we go into 2017 wouldn't it be great to know that we DO have ways to clear the air or to solve a problem before it gets too big? The small issues are the things that I find make real estate a very difficult profession---So, to have a way to handle the small stuff gives less energy to the possibility that the small thing will become a major issue! Have a wonderful Holiday!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

I have my husband to go to -- as we are a team, as well as a few fellow agents from other agencies who have become trusted confidants -- and then there is Active Rain!

Posted by Diana Dahlberg, Real Estate in Kenosha, WI since 1994 262-308-3563 (1 MONTH REALTY) 8 months ago

Diana: You are so lucky! I have, at times wished I could bring in a family member but  the issues that I deal with are not very appealing to my family! There are several members whom I have tried to engage but they have no patience for things that happen in real estate!!

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

Real Estate agents must not fall into the same trap that many consumers find themselves in: thinking they know everything. You are so correct to say we should have a go to person when we need to sort out an issue.

Thanks for the reminder.

Posted by John Wiley, Lee County, FL Real Estate GRI, SRES,SFR,PSA (Jones & Co. Realty) 8 months ago

John: Thanks for reading this...and for your support of having a "go-to" Guide for your problematic situations. I know I am not alone in this and thank you for stating that you know what it means to have some one to turn to aside from management... 

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

The go-to person first should always be the agents Broker. 

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) 8 months ago

Kimo: Yes it should---except when it works against you to go to that individual...we all have our own interests to  protect first; it is our own business as you know.  In my experience, there is little benefit to be had in a situation where you have to compete with the person designated to be a manager. It is a giant conflict in my opinion. 

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

I'm very lucky to have layers of management in my company that have helped me for the last 14 years.   We have an Owner, Broker, Manager, Recruiter, and transaction coordinators with many years of experience. Plus we have an educator running classes who has a brokers license.  Even my broker has been in business since the late 80's!  I happened to pick a great office/company first so have never had to change companies.  Great post!

Posted by Jan Green, HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN (Value Added Service, 602-620-2699) 8 months ago

Jan: You are lucky! I have been with my company a total of 15 years and it is a great company but I still find that therer re things thay are not capable of handling for me, for one reason or another...Thank you for reading and enjoying my post....

Posted by Paula Hathaway, REALTOR, Sr. LBA,, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) 8 months ago

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