Don't Hesitate to Share

In my days as an estate agent, I encountered colleagues that were willing to share their stock and work with other agents and others that were tight-fisted, at the expense of the seller.

Consider the following advantages of sharing your stock:

? A huge benefit when negotiating sole mandates.

? Be responsible for creating a pleasant working environment amongst your colleagues. What you give, you shall receive 100-fold.

? More and quicker placement of “sold” boards, ensuring that you become recognised as an area expert.

? You are in integrity, working in the best interest of the seller as mandated.

? Improved cash flow. “Turnover is vanity, profit is sanity, but cash flow is king.” Unfortunately, many realtors are stuck at the profit phase at the expense of turnover and cash flow.

THE CORRECT WAY OF DOING IT

? You do not need to belong to any multi-listing system. In fact, it is better if you don’t, because then you get to choose which realtors you are willing to work with.

? Within one month or perhaps two months of your mandate, if the property has not sold, with consent from your seller, you send out a personal invitation to your colleagues to come to your showhouse, booking them for 15 minutes apart. Make it professional, not a cattle auction.

? While your colleagues may advertise the property on their personal websites, ONLY YOU advertise on public platforms. The purpose of this exercise is not for your colleagues to get new buyers using your stock, but for them to introduce potential buyers, already in their books, to your stock.

? Play nicely! Don’t state that you have a buyer in your books just because you have their contact details but have not communicated with them in the last month. If you are not actively looking stock for a buyer, they are not your client.