Why do people hate real estate agents? Why do they think they suck? I’ve figured it out and it’s probably not what you expected to hear.
1. We Are Advisors, but some act like Deciders
A real estate license says that the holder is a fiduciary (check out my article about agency here). That means the agent puts your interest ahead of their own. Yet, some act like “Deciders.” The critical distinction between the two? Advisors give you all the information you need to make a decision about a deal. Deciders, on the other hand, usually make their clients feel as if they’re already making the decisions for them.
2. Why is knowing the distinction so important?
Most agents live on the Decider side. They feel they have to show how knowledgeable they are. You’ll usually hear them saying things like “this offer is a waste of time,” “this house is too much,” or that “you’re listing prices are too high.”
Advisors, meanwhile, will not put their foot down on a deal but give you honest pieces of advice instead. You’ll usually hear them telling you “Yes, we can do that. But here’s what I think will happen.”
3. An example of what I mean
Let’s say for example that there’s a certain house that caught your eye. Since it has been sitting in the market for a while, you want to write an offer that’s $50,000 below the asking price.
If you’re talking to a real estate agent who’s a Decider, this is probably what you’re going to hear:
“It’s a waste of time.”
“That’s a lowball offer.”
“The seller’s going to be upset and they’re probably not going to accept it.”
No one wants to hear these, right? You’re probably going to think “wait a second, this is my offer to my house that I’m going to buy, why can’t we just try?” You may also feel like that agent is looking for the easiest path to a commission. And you might be right.
In contrast, if you’re working with a true Advisor, he or she is probably going to tell you that “Yes, we can absolutely write this offer, but can I share with you what I think is going to happen?”
A true Advisor will also give you their honest opinion and expertise about what could happen. But what they won’t do is make you feel as if they’re already making the decision for you. They’ll put your interest before their own and tell you that they just want to prepare you for what could happen instead.
An Advisor will give you the opportunity to make an informed decision. A Decider breaks down the communication and leaves you without options.
An Advisor will give you information that is framed in such a way that empowers you to do what you want to do. A Decider will make you feel that you’re being told what to do.
Remember, you need someone who can give you all of the information and talk about all the possible scenarios without making you feel as if you were left with less opportunities or make you feel upset or frustrated.
Remember, find an Advisor, not a Decider!
I hope this list has helped you. If I can give you more context on the process of buying your first home, please do not hesitate to reach out. My information is below.
Here’s to all your success!