How do you monetize emotion?

We as Realtors® are in a very noble profession.  Sure, some say we’re ne’er do wells, scavengers, and only interested in a commission check.  I don’t doubt that for some folks out there this has been the case….however, I’d like to have a conversation with you about us, as agents, being the epitome of compassion in our careers.

When we are working with a client, buyer or seller, we are trusted with finding the perfect home, or getting the most money and closing escrow with minimal stress.

Sounds easy right?  Fill out a contract, fax it over, open escrow, close escrow, NEXT…

If only it were that simple.  The truth is that when you take the Realtor® oath, you are promising to go above and beyond your ethical duties to make sure that your client is not only well represented, but that you do so to a standard that is above reproach, regardless of what the other agent or your client does.  You may have guessed that I take this oath very seriously as do many Agents that I am blessed to keep company with. 

This means that you are now involved in assisting your client make one of the most stressful decisions of their lives (death, divorce and moving are high up on the list as well). 

We have the privilege of being trusted with knowledge of why they need to sell their home (divorce, loss of job, death in the family).  We are trusted with finances, account numbers, social security numbers and why they want to buy a home (divorce, birth in the family, pay raise).  Doesn’t seem so easy now does it?

 Which raises a question: How do you “monetize” emotion? 

How do you put a price tag on the perfect home for the young couple that just got married and will be creating a future for themselves, or starting a family?  How do you put a price tag on selling a home that a couple has lived in for the last 40 years?  The memories?  The kitchen door that has the height of each child and grandchild penciled on the door jamb?                                       

You can’t…these are the things that are (as Mastercard has shown so eloquently) priceless…

 And this is WHY I love what I do!

 I am NOT a shopper!  I have to be clear about that from the very beginning because I think it will give some insight into who I am as a person and as a Realtor (though sometimes the two are so closely related it’s hard to know when one starts and the other ends!)

 I hate to shop for a variety of reasons.  I hate fighting for a parking spot.  I hate trying clothes on.  I hate those fluorescent lights that make you look an anemic yellow and stretch out wide like the mirrors in a carnival so that no matter whether you’re a size 2 or a size 14, you leave there swearing that tomorrow you’re going to start the Atkins diet!  But even more than this…I hate these words as soon as I walk into a store….

“Can I help you find something?”…………….

 Arghhhh!  I run for cover every time!  I walk in to a store and quickly survey the exit route.  Where’s the nearest door?  Of course I have my back up plan…my cell phone, glued to my ear so that I can just smile and nod “No Thank You”.

 I peruse the aisles…I need a new blouse…it’s winter and I’m walking around with sleeveless tops and a leather jacket!  I look for colors that I like and make my way towards them, and then see the selection of blouses offered…I grab the same shirt in every color and in three different sizes and I’m off to the dressing room…but not before I hear, “Can I help you with those?”  Nails on a chalkboard to me…”No Thank You”…

 I try the clothes on and realize that the lime green shirt just doesn’t work with my skin tone but the top itself is great and I’d like to see it in another color…Darn it!  Where’s the gal when I need her?? 

 So why should you care that I loathe shopping?  I’ll tell you why: because buying and selling Real Estate is really no different.  At the end of the day, you hate to walk in to an Open House and feel “accosted” by the agent there.  You give out a false phone number and email address just to get them off you.  You may even throw out a little white lie… “I’m just looking for a friend”.  And I don’t blame you! Most experiences people have with salespeople is, let’s face it, salesmanly.  No one WANTS to be sold…No one wants to be put on a list with a hundred other people of generic homes being emailed to them.  No one wants to be pressured into buying a home that doesn’t work for them, but being made to feel like “you’re an idiot if you don’t buy now!  Rates are low…blah blah blah…”

 What you want and need is information!  You want to be spoken to as a peer, not talked down to by someone that only has a commission check in mind…you want to search the internet and see what’s out there.  You want to be able to make sense of it all before you have a conversation with an agent about where you are, where you want to be and how you will get there. 

 Now before I go on, I will throw in a caveat here:  I personally know many Realtors who would talk you out of writing an offer they didn’t think would benefit you.  Usually these are the people who are in the people business.  They genuinely care about you, where you’re at and where you’re going and they trust that after assisting you in gathering the information and showing of homes, you will use them and not your uncle Charlie who was licensed a month ago to help him get over his fear of the contract.  Realtors don’t get paid until you close escrow. NO minimum wage, no compensation for time, no cash advances for gas etc.  Now back to my regularly scheduled rant.

 So, you go into Open Houses… “Can I help you?” “No thanks…I’m just looking…”

You log on to the internet to see what’s out there…more open houses…more “can I help you’s” and then FINALLY you find the home of your dreams…and who’s there to help you…?

 If you’re lucky, the person that held the Open House may be the right person to help you.  Otherwise, you look around, like a lost kid at Nordstrom hoping someone will show up.  But if you plan it right…you would have already developed a relationship with a Realtor who sat down with you and your family and created a strategy that works for you…and this agent was referred to you by someone you know and trust….and NOW you can take a deep breath and say….Ahhhhh. 

 So, lime green shirt notwithstanding, we all need a little help…

A few years back (I am sure you are fully aware) homes were selling like hotcakes at a Waffle house after church.

During this time, homes were selling almost the same they went on the market! Buyers were rushed into buying homes. Some lenders were “qualifying” the buyers into homes that were well beyond what they could realistically afford.

It didn’t matter they said, because at the end of the day, “you’ll be a home owner and two years from now, we’ll just refinance you and adjust your payment”. Such a shame that a few have spoiled the stew for those that are ethical.

As a Realtor, I tell my clients all the time: You will more than likely buy 3 homes before it is all said and done.

1. Your beginner home. Here, you will learn about yourself and plan for your future and set goals accordingly. Here is where you will discover that the next time you buy a house you DO want direct garage door access into the kitchen and not a bathroom.

2. Your second home will be the one that, usually, you grow in your career, and for those that choose to, grow a family. It is the one that says: I love my family and can provide for them OR it’s your “Look! I made it!” home.

3. Your third house likely will be the one after the kids are grown and gone (if you had them) and the house is just too big to take care of. The one where you decide that you would rather spend your weekend sailing or playing a round of golf and not pulling weeds, unless of course you’re into that!

These life events cannot be rushed. They are steps that we all take and should savor along the way. Don’t buy more than you can realistically afford. You’ll get there…it’s just going to take some time….

Its funny how quickly time passes.

One minute you’re toasting soon to be un-kept New Years Resolutions, next thing you know, you’re preparing, once again, to carve a turkey at Thanksgiving.

Where does the time go? What’s the hurry? Over the summer we couldn’t wait for fall to get here. No sooner had Memorial Day come that we were buying Halloween candy…The day after Halloween, you would see all of the Thanksgiving Day themed paper plates and wind socks. Two weeks before Thanksgiving, the Christmas music starts playing and “How the Grinch Stole Christmas” is on TBS!

So what’s my point?? What inspired me to post this blog?

As a buyer you have no doubt been hearing how NOW is the right time to buy a home…you’re hearing words like “Tax Credit” “Low interest rates” “get off the fence”.

These are the buzz words. And everyone I know is throwing them out there like leftover meat loaf!

The truth is that right now may NOT be the right time for you to buy a home. Buying a home is a process, and one that you will be well advised to pay attention to.

The process begins when you awake and decide that you would like to know how being a homeowner will benefit you. Next, you’ll want to know what is happening with home values in a neighborhood you’ve been considering. You start to pay attention to what is going on the market, at what price homes are listed, how long they stay on the market and finally what it sells for. This process cannot be rushed! Only by seeing this for yourself will you discover what you are willing to pay for a home.

The next step is to meet with a lender and discuss all of your options. You want to talk about down payments, closing costs, interest rates and finally the payment. How much house can you really afford? What about reserves? Seasoning of funds? Do you even know what these terms are and why they’re important to you?