Juli Doty - Real Estate, Real Advice

Agents

Learn the honest tools, methods and psychology to having a successful, professional real estate practice of which you are proud.

Real Answers

WHY DO YOU WANT TO BE A REAL ESTATE AGENT? Some answer this question with "I love houses; my mom was an agent; or it's big money!" The answer that actually offers a chance of real success is "I love paperwork, I follow up with every detail, I am a super communicator, level headed, I understand and enjoy people and I can live without a paycheck every month".

A SELLER AGENT is contracted through a listing agreement to work directly for the seller to get the highest price at the best possible terms for the seller.

A BUYER AGENT is contracted to work directly for the buyer. The commission paid to the buyer agent can come from buyer or seller funds at closing.

A DUAL AGENT is working for both Seller and Buyer. This commonly happens when a buyer calls the listing agent in order to see a home. The listing agent writes the offer for the buyer, becoming a dual agent. Buyers believe this is good as the listing agent has "insider" knowledge. The dual agent is now working for two bosses and neither buyer or seller is well represented. Home buyers are much better off working with an agent that is bound to look out for only you. Choose your agent before you ever go home shopping. An additional risk in dual agency is caused by the fact that the agent will get both sides of the commission. Greed steps into play and it often becomes clear that the only party really being looked out for is the dual agent.

The MLS (multiple listing service) is the sharing of listing information between agents and agencies. This practice is helpful to buyers, sellers and agents. Every property listed on the MLS has contracted to pay a specific commission.

The PLS (public listing service) is how you advertise your house for sale with NO commission, right here on Real Estate, Real Advice. Check out our special features for FSBO, foreclosures, lender owned and waterfront properties.

COMMISSIONS on listed properties can be negotiated to any rate that both parties agree to. It is customary to equally divide the listed commission rate between listing agent and selling agent.

How to Select an Agent

• Strongly consider hiring a buyers agent if you are buying. Your buyers agent should have you sign a contract and should charge a fee if there is no listing commission. Most buyer agency contracts are paid out of Seller funds at closing.
• A fancy web site is something the agent buys. That is not nearly as important as their negotiation skills and their ability to understand, respect and stand up for what is probably the largest asset in your life. The agent you choose will have a monumental amount of control over your future. You are not looking for a nice person. You are looking for brains, ability, strength, knowledge, support and full-on honesty.
• Interview real estate agents before hiring them. Make sure that this is someone you can trust with one of the largest investments of your life. Make sure it is someone you are compatible with, as you will likely be spending a lot of time with your real estate agent. Try to measure the knowledge of the agent during the interview. There are many agents who will "need to get back to you" for basic information, while others demonstrate ready knowledge of homes available. You should definitely look to work with the latter.
• Being a nice person is good - but not nearly as important as negotiation skills and real estate knowledge.

Your agent is not your new best friend. Your agent must be a professional, much like your attorney or accountant.

An Agent Must:

• Show serious interest in and understanding of the property
• Know what questions to ask
• Be straightforward
• Be willing to stand up for the truth
• Have set hours to working hours with set time off
• Stay on top of the market
• Know their competition
• Find the best opportunities for you

The odds of a conflict in any real estate transaction are large. Although there are some benefits of having one agent represent both buyer and seller I do not advise it. When agents work as both buyer and seller agent at the same time a "dual agency" is created where the agent has an obvious conflict of interest.

Who is protected when a conflict arises? The buyer? The seller? Or the agent? Which client do they negotiate for, which against? What happens if there is a problem and the buyer wants to cancel the deal but the seller wants the deal to close? Does the dual agent assist the buyer or seller in reaching thier goal?

The odds of such conflicts are great. Agents earn the highest commissions when they represent both parties and agents are often paid a bonus for selling such listings. So, dual agency gives the least protection to both buyer and seller, yet agents are drawn toward it to maximize their income.

Ongoing Agent Seminars

• Considering a Career in Real Estate? Imagine having 40 bosses - each has their own set of rules for you to follow. Each boss wants a report from you, in person, every week. Each boss has specific needs, personality and will therefore respond to you in their own way. These bosses are your "clients", because you are a real estate agent.
• Dealing with Drama
• Real Estate Ethic Reality
• Winning Negotiation Practices
• Agents Who Close
• Co-brokering Agents Sell More, Earn More
• Commercial Brokers Do

Real Estate Agent School

Train through Real Estate, Real Advice with an on-line national real estate school to earn your agent license, and then professionalize your career with the "exactly how to" real estate training that can only come from highly experienced agents.

Agent Boot Camp

New Agent Boot Camp follows licensing to teach agents the reality of real estate.

• Ethics
• Negotiation
• Listing Systems that Work
• Deal with all Types Successfully
• Communicate to Keep Clients
• Property Research Methods
• Market Analysis and Pricing
• Find the Right Buyer
• Staging
• Listen to Your Client but Hear the Other Guy

Agent Coach

Coaching includes an agent support membership program with continuing education on a monthly basis through tele-seminars and training modules.