Valuetainment - Best Real Estate Advice to Buyers & Sellers

00:00:00.120 In the last 20 years I've dealt with many realtors both on a residential and the commercial side

00:00:03.900 whether it's buying buildings, leasing office space or whether it's buying homes or renting vacation properties

00:00:08.220 and I've experienced working with great ones, good ones and some bad ones

00:00:12.660 and today I'm going to give you a perspective of your relationship with your realtor

00:00:16.780 that maybe no one's explained to you before and if it makes any sense you get value from it

00:00:21.740 I want you to give you a thumbs up, subscribe to the channel and share it with others as well

00:00:25.740 so look when it comes down to buying or selling a house there's four parties involved

00:00:28.580 typically there's four parties involved, there's you, there's your realtor, there is them, there is their realtor, right?

00:00:34.600 and you could be the buyer, they're the seller, you could be the seller, they're the buyer

00:00:37.600 but regardless there's typically four parties involved, right?

00:00:40.140 Now the question you have to ask yourself is how many different teams are there?

00:00:44.840 Teams, how many teams are there?

00:00:46.740 What do you mean by that Pat? Here's what I mean by it

00:00:48.820 I mean you and your realtor, you are one team, right?

00:00:53.940 Them and their realtor is one team

00:00:56.820 but there's one other team that no one thinks about

00:00:59.640 that 90% of the time have a longer relationship together than the rest of them do

00:01:04.920 and here's who it is, it's your realtor and their realtor

00:01:07.920 let me explain to you what I mean by this

00:01:09.260 how many times are you going to do business with your realtor?

00:01:14.780 How many times is the seller going to do business with their realtor?

00:01:18.680 Versus how many times are your realtor and their realtor going to do business together?

00:01:22.820 Let's just say you do business together with them once, maybe twice, maybe three times

00:01:26.920 maybe they do twice, three times, maybe four times

00:01:29.360 how often do you think they're going to do business together?

00:01:31.800 Five times? Ten times? 20, 30, 40 times?

00:01:34.980 What if they're the main guys in the city that you're buying a house

00:01:37.900 or buying a building or selling a property? Think about it

00:01:40.420 and they've both been around for 20 years, you don't think they know of each other?

00:01:43.660 You don't think they've done business together?

00:01:45.100 You don't think they know that on the next deal coming up

00:01:48.020 they're going to have to, so if they push too hard on the next one

00:01:50.880 you get where I'm going with this, right?

00:01:52.160 So here's how it goes

00:01:53.140 you go to your realtor and you say, oh my gosh, I love this building

00:01:55.640 this is the building we want to buy

00:01:56.680 this is the office we want to buy

00:01:57.780 we love this office, we love this building

00:02:00.280 this is the building

00:02:01.120 this is the one we want to buy

00:02:02.000 everybody on the team loves it

00:02:03.200 and you tell your realtor thinking

00:02:04.640 this realtor's on your team, right?

00:02:06.580 Okay

00:02:06.760 then the other side, the seller says

00:02:10.300 look, I just want to let you know

00:02:12.680 I'm not selling this thing for less than

00:02:14.400 you know, I have to get my $7 million

00:02:16.220 even though it's on the market for $8.5 million

00:02:18.320 now his realtor knows $7 million is the cutoff

00:02:21.220 now, then they talk

00:02:22.500 so your realtor's like, okay

00:02:24.380 let me see what I, I'm going to go get the best deal for you

00:02:26.420 their realtor goes, okay

00:02:27.840 let me, let me get

00:02:28.540 I want to get him more than $7 million

00:02:29.860 I'm going to do my best

00:02:30.780 but it's good to know where you're at

00:02:31.860 and then the two realtors unite

00:02:33.820 and they talk

00:02:34.440 so what does it look like?

00:02:35.900 well, I tell you, you know

00:02:36.660 he's not, he's got a number

00:02:37.960 and he's not willing to

00:02:38.560 what number do you think you can get him for?

00:02:40.220 I don't know

00:02:40.800 I think it's going to be stretched at $7 million

00:02:42.840 I think, I think your buyers got to go with $7.7

00:02:45.520 they're not going to go there

00:02:46.660 these guys are going to go at $6.9

00:02:48.020 well, I don't know what we can do

00:02:50.020 look, see if you can get him at this number here

00:02:52.340 let me go back and talk to them

00:02:53.460 and they go back to talk

00:02:54.620 they both want to sell it at the highest possible value

00:02:57.640 including your realtor

00:02:59.060 especially if you're the buyer

00:02:59.960 they make more money if you sell it for $7 million

00:03:02.020 instead of $6.5 million

00:03:03.060 that's an additional $500,000 of commission

00:03:05.360 you think it's fully them wanting to get it for you?

00:03:08.520 not all the time

00:03:09.460 so then they come back and they say

00:03:11.120 okay, why don't we do this?

00:03:13.320 I think I can get him for $7 million

00:03:14.680 yeah, I got him

00:03:15.920 they like the house a lot

00:03:16.980 they like the building

00:03:17.760 you can tell from the emotion

00:03:19.200 I saw the wife

00:03:20.000 the wife was very excited

00:03:21.520 they really want the house

00:03:23.180 they want this place

00:03:23.980 okay, great, no problem

00:03:25.560 then let's try to sell it for $7.2 million

00:03:27.440 and then they go back and forth

00:03:28.880 so because they have the relationship

00:03:30.720 this is the part where buyers and sellers forget

00:03:34.380 that no matter how much you do business with your realtor

00:03:37.140 the two realtors are a bigger team than you know

00:03:40.560 in the most indirect way

00:03:42.560 attorneys

00:03:43.440 two divorce attorneys

00:03:44.960 when they talk to each other

00:03:46.180 what do you think both divorce attorneys know?

00:03:48.680 drag this thing out

00:03:50.240 the longer it goes

00:03:51.840 the more hours we can charge

00:03:54.100 you know the code

00:03:55.480 wink, wink

00:03:56.220 let's keep going

00:03:57.600 similar model

00:03:58.620 now

00:03:58.960 some realtors are watching this

00:04:01.480 they're pissed off at me

00:04:02.200 Pat, how dare you make a video like this

00:04:03.740 and talk about this in this manner

00:04:05.380 I'm not talking about this in this manner

00:04:07.600 I'm just telling you

00:04:08.620 most realtors are like this

00:04:10.720 now let me give you some of the realtors

00:04:12.720 that work as partners

00:04:14.480 I dealt with one

00:04:15.540 I've dealt with a couple of them

00:04:17.240 Jackie Dorberitz being one of them in Dallas

00:04:19.160 she showed me properties for four years

00:04:21.560 and I never bought anything from her

00:04:22.960 patient

00:04:23.720 incredibly patient

00:04:25.140 constantly calling me back

00:04:27.000 to everything was so respectful

00:04:29.100 for four years

00:04:29.880 this woman never made any money off of me 1.00

00:04:31.420 but she eventually got a nice $100,000 check

00:04:34.100 plus from us

00:04:35.600 not a hundred

00:04:36.440 a couple of $100,000 check from us

00:04:38.080 for what she did

00:04:38.980 because she was a great realtor

00:04:40.960 she did her part right

00:04:42.240 and there's many others here

00:04:43.640 so now

00:04:44.280 if you're watching and say

00:04:45.080 well Pat

00:04:45.380 what can I do

00:04:46.660 to make sure

00:04:47.840 that as the buyer

00:04:49.220 or the seller

00:04:49.880 the realtor's fully on my side

00:04:51.660 uh-huh

00:04:52.080 you're asking the right question now

00:04:54.040 here's what it is

00:04:55.060 either find a realtor

00:04:57.180 that you're going to do

00:04:58.380 repetitive business together

00:04:59.860 for many many years to come

00:05:01.600 or become the following

00:05:03.560 I tell all the people

00:05:04.760 I do business with

00:05:05.620 here's what I tell them

00:05:06.380 I say listen

00:05:06.940 I'm probably going to be

00:05:09.300 your greatest referral source

00:05:11.000 of your career

00:05:12.000 what do you mean

00:05:12.700 I'm probably going to send you

00:05:14.720 more referrals

00:05:15.460 than anyone's ever sent you

00:05:17.140 in your entire life

00:05:18.620 so guess what

00:05:19.660 you better take care of me

00:05:20.740 because if you don't

00:05:21.860 those referrals are going somewhere else

00:05:23.400 and I'm telling it as a joke

00:05:24.960 but I'm not joking

00:05:25.820 I'm dead serious

00:05:26.720 so if you're watching

00:05:27.960 and saying

00:05:28.280 how can I get to that point

00:05:29.380 influence

00:05:30.480 be somebody that gives

00:05:31.460 referrals out to people

00:05:32.560 if you say you're going to give referrals

00:05:33.660 out to people

00:05:34.140 do it

00:05:34.520 if your realtor is so good

00:05:36.200 tell the world about it

00:05:37.560 if your realtor has done

00:05:38.920 such an outstanding job for you

00:05:40.960 protect them

00:05:41.980 tell the world

00:05:42.860 give the referral

00:05:43.800 call your family

00:05:44.720 call your friends

00:05:45.420 work for them

00:05:46.620 because when it comes down to it

00:05:47.960 they will 100% be on your side

00:05:50.120 because they know

00:05:51.220 you are the relationship

00:05:53.280 they don't want to lose

00:05:54.720 not the other relationship

00:05:56.140 their concern becomes you

00:05:57.720 not the relationship

00:05:59.060 with the realtor

00:06:00.080 you

00:06:00.700 because you give them referrals

00:06:02.040 and

00:06:03.160 you don't do one deals

00:06:05.220 you do two

00:06:05.780 three

00:06:06.100 because you're a B-back customer

00:06:07.680 and B-back customers

00:06:09.140 are very very hard to fund

00:06:10.700 so having said that

00:06:11.660 if you watch this video

00:06:13.020 and you got value out of it

00:06:14.240 put a thumbs up

00:06:14.940 subscribe to the channel

00:06:15.840 and share it with your friends

00:06:16.940 and your peers

00:06:17.980 and if you're realtor

00:06:18.740 watching this

00:06:19.260 and you disagree

00:06:19.820 I would love to hear your thoughts

00:06:21.380 by the way

00:06:21.820 I did another video

00:06:23.040 four or five years ago

00:06:23.840 negotiating an office lease

00:06:25.440 if you're about to lease

00:06:26.420 an office space

00:06:27.240 and you want to know

00:06:28.340 the dynamics

00:06:29.100 I've leased my courier

00:06:30.760 through my company

00:06:31.560 probably a million and a half

00:06:32.820 square feet of office space

00:06:33.800 a lot

00:06:34.180 and I've dealt with many of them

00:06:35.640 it's probably not a bad idea

00:06:36.940 for you to watch this video

00:06:37.760 when it comes down to

00:06:38.360 leasing office space as well

00:06:39.420 take care everybody

00:06:40.280 bye bye bye bye bye bye

Valuetainment - July 20, 2021

Best Real Estate Advice to Buyers & Sellers

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