Now I Know Why Nice Guys Finish Last
This isn’t the first time this has happened…
A potential listing client called me up several months ago to come out and talk to her about her property. She grilled me about what I would do to sell her property and how much I would charge her.
To be perfectly honest – I left there hoping I wouldn’t get the listing.
And I didn’t. Well, for the most part I didn’t.
For the last several months, I have received a call at least once a month from her – asking for my take on a variety of issues regarding the sale of her home. I finally had to ask her, “If you value my opinion so much – why didn’t you list with me?”
“Because [insert agent’s name here] is only charging me $500,” she blurted out.
And then it dawned on me. While I was thinking that maybe this potential client might have thought she made a mistake… and that she might become a real client… I was wrong. She was getting her home listed for practically nothing – and getting the advice of myself (and probably others) FOR FREE.
I could kick myself. Count another lesson learned.
The following video of writer Harlan Ellison pretty much sums up my rant. There is a great deal of similarity if you think about it. (Warning – Some Strong Language)
Patrick Hake says:
That was awesome!
I hope the writers get what they are asking for from the strike.
November 28, 2007 — 10:23 am
Allen Butler says:
That was an excellent rant. Loved every second of it!
November 28, 2007 — 10:35 am
Jeff Brown says:
Reminds me of conversations I have every couple years or so with investors who’ve gotten themselves in trouble and are surprised I don’t act like the frickin’ Red Cross.
November 28, 2007 — 10:46 am
Doug Quance says:
😆 @ Jeff
I hear ya, brother. I hear ya.
November 28, 2007 — 10:53 am
Doug Quance says:
>Patrick: I wasn’t trying to draw a parallel to the strike (and I don’t think Harlan was, either) though I can appreciate that the writers want part of some of the future.
Gee… wouldn’t that be nice? I sell you a property… and then – in the future – you pay me more money because you sold the property for more money…. yeah, that’s the ticket!
>Allen: I’m glad you liked it. 🙂
November 28, 2007 — 10:58 am
Tony Sena says:
That video is right on the money!!! It drives me crazy when clients say, well so and so will sell my home for only $995 so why won’t you? Now I will just send them this video, lol
November 28, 2007 — 11:31 am
Russell Shaw says:
The very definition of “criminal exchange” is something for nothing.
The seller is willing to take your time – and not just once, either – and offer you nothing in exchange.
The fact that you are a really nice guy does not modify the fact that she is criminal.
November 28, 2007 — 11:58 am
Eric Blackwell says:
@Russell- Well said. I had never heard that before…
Best;
Eric
November 28, 2007 — 12:50 pm
Doug Quance says:
>Tony: It drives me nuts, too. Damn bottomfeeders! 😈
>Jon: Thanks for the props!
>Russell: Too true, oh wise one. Criminal it is!
November 28, 2007 — 1:04 pm
Geno Petro says:
Doug, send me a check and I’ll give you my comment. (H.E.just may have had a few nips, btw)
love(ed it)
Geno
November 28, 2007 — 2:42 pm
Dave says:
The appropriate response to her at that point would have been, “So if you value MY advice then why aren’t you willing to pay for it?”
November 28, 2007 — 2:53 pm
Doug Quance says:
>Geno: Well said. 😆 And H.E. probably did have a nip or two.
>Dave: Oh believe me – the call got cut real short at that point… and I think she knows why.
November 28, 2007 — 3:16 pm
Don Reedy says:
Jimmy Buffet has a line that goes “don’t try to describe a Kiss concert if you’ve never seen it….you just might up being gonged.”
This is a great way of communicating how easily we give away what is at the source of our value to the client. The clients haven’t seen Kiss, we have, and yet we’re reluctant to “gong” them when they want to see the concert for free.
I hear the gong going off now!!
November 28, 2007 — 3:58 pm
Tara Jacobsen says:
Thank you so much – I was feeling all beat up today but now I have a plan! I am going to listen to this daily to remind me that I do deserve to be paid, just like the rest of the free world!
November 28, 2007 — 7:01 pm
Morgan Brown says:
Herein lies the core problem with all information – it yearns to be free. The gatekeepers are constantly struggling to put a denomination on information and charge appropriately. More and more those gatekeepers are being – dare I say it – disintermediated by the web and other sources who will give it away for free. Just ask the newspapers how they feel about being “forced” to post today’s news (which costs 50 cents in paper form) for free online. It is killing them.
Look at wikipedia – the encyclopedia Britannica is none to happy about that happy little experiment. Information flows to the price of free. It’s unstoppable because at any point there are hundreds of people with similar information who are willing to trade that currency (knowledge) for something else – usually business. And with all competitive red oceans, they head towards the lowest price.
So instead of bemoaning this person as a criminal or a nag and a time drain couldn’t we flip this information seeking problem on its head? Couldn’t we send that person a white paper, point them to our blog and have them sign up for our weekly sellers email tip? Couldn’t we suggest that if they value that information that they forward it on to a friend who may be selling as well? Couldn’t we suggest that after 2 months of no movement with the discount guy that she list with us, and couldn’t we remind her in our emails and blog posts how much money she was leaving on the table with her listing sitting in a declining market?
Couldn’t we leverage her desire for free information in to business for ourselves? Aren’t we all blogging and trading free information in the hopes of new business or improved business performance? Isn’t this a micro-example of the same thing?
I say that when people want our expertise and experience we give as much as we are comfortable giving and then no more. Everyone sets their personal boundaries on that end. But as we are giving we are taking. Want to know how to sell your home? Sign up to my newsletter and give me your contact information – I’ll give you a white paper – and so on.
This person is no criminal. How we allow ourselves to not take advantage of the opportunity is the only offense here.
November 28, 2007 — 10:59 pm
Greg Swann says:
> How we allow ourselves to not take advantage of the opportunity is the only offense here.
Masterful. Thank you.
November 28, 2007 — 11:36 pm
Russell Shaw says:
I totally like the idea of “How we allow ourselves to not take advantage of the opportunity is the only offense here.” I believe that successful people find a way to turn counter-efforts in the environment to their advantage. The old, you get lemons – you make lemonade. However, I stand by my statement that the seller in this case is criminal.
It is OK if you don’t see it that way, as you have your experience and I have mine. I have found that people who want to value my time at zero and then help themselves endlessly are not the kind of people I choose to do business with. The world (and my area:-) is just full of really nice people (about 80% of them) and as there is no shortage of the nice ones, I would rather only do business with those people.
November 29, 2007 — 12:26 am
Thomas Johnson says:
Didn’t this old girl just disqualify herself from your advice by having an exclusive relationship elsewhere? Maybe one could point out that she is causing you to get very close to tortuous interference with her $1.99 listing broker?
Hey darlin’ I’d love to flirt with you, but let’s do it after you ditch the boyfriend, because I know you’re not THAT kind of girl, OK?
November 29, 2007 — 12:31 am
Doug Quance says:
>Don: Oh yeah, I got gonged, alright. 😆
>Tara: I’m glad this made you feel better. Now I feel better.
>Morgan: A brilliant retort. Somewhat Utopian, IMHO.
>Russell: No Utopia, here. Just good, sound advice.
>Thomas: As a seller, you can have an exclusive brokerage agreement – yet still solicit the opinions and advice of other brokers. Sometimes that answer to the questions, however, will be, “that’s a matter between you and your agent.”
November 29, 2007 — 8:18 am
Kris Berg says:
“You’re undercut by all the amateurs.” Love it! My favorite real estate ad was a full page in our local newsletter a few years ago where the agent proclaimed, “I will sell your home for less!” I have no doubt he delivered. And he probably accepted less compensation as well.
Thanks for the post and video link, Doug. I’m with Tara – Required weekly viewing.
November 29, 2007 — 8:34 am
Bob in San Diego says:
“You’re undercut by all the amateurs.”
With all the talk about ethics, why do you feel that it’s ok to call agents amateurs who charge less?
In San Diego, less than 6% of residential properties listed are closing escrow each month. Commission isn’t a factor in those sales, just price. Marketing is not a factor either.
November 29, 2007 — 11:45 am
Doug Quance says:
>Kris: We had an agent like that here, too. I wonder what happened to him…
>Bob: I can’t speak for Kris (and she does that so perfectly well by herself) but in my neck of the woods – there’s a ton of “amateurs” who charge very little… of which most are not serious, full-time agents. Some refer to them as “appliance Realtors”, as they dabble in real estate so that they can buy new appliances for their kitchens…
November 30, 2007 — 9:20 am