The REAL ESTATE PROFESSIONAL

Tom Hopkins is Chairman of the Board of Tom Hopkins International, one of the largest sales training organizations in the world. He has been involved in selling, sales management, and sales training for over 30 years. He has trained over three million students on five continents, helping them to become more professional at selling. He has taught at hundreds of national and regional conventions and shared the platform with world leaders and business and athletic professionals. Tom Hopkins' first love is the field of real estate where he began his selling career. He has authored two books on the subject, "How to Master the Art of Listing Real Estate" and "How to Master the Art of Selling Real Estate" and has developed two comprehensive audio cassette albums on the listing and selling aspects of a real estate career, as well. For more information on Tom Hopkins' proven-successful real estate training programs, contact Tom Hopkins International toll free at 1-800-528-0446 or visit their Web site at www.tomhopkins.com
How To Handle Another's
Listing . . . And Do So 
In An Ethical Way

Whenever you go into another office's listing, follow the code of ethics. Respect the other broker's agency as you'd want them to respect your agency at your listings.

Whether you are viewing the home for a buyer you are already representing, or just trying to keep up with the inventory in your chosen territory, the most important thing to remember is your professional image. 

You need to gear your visit with the homeowner to leave behind two things:
(1) your business card, and
(2) a powerful, positive image of your business ethics.

Sometimes you'll be sorely tempted to let the sellers know how much better off they'd be with you and your firm than with the one they listed with. But if you yield to that temptation even with nothing more than a raised eyebrow at some strategic moment -- you're not only being unethical and unprofessional, you're also being stupid. When you're in another agent's listing, keep your eyebrows straight and your thoughts pure. Let no criticism of the other firm, or praise of your own, escape your lips. Never forget that when you're there, you personify the entire profession. Anything you do that harms the other agent harms the entire profession, yourself included. 

Don't take this lightly. Unethical conduct, if allowed to feed on itself, will quickly take over in an area. Only you can stop that cancerous growth. If any of this unprofessional conduct is directed at you, don't respond by lowering yourself to that level. Both in the short run and over the long haul, the way to beat the unprofessionals is to be more professional yourself.

The rules and code of ethics vary from one real estate board to another. Find out what these are in your area and follow them exactly. In many cities, you are forbidden by the rules and ethics of your local professional organization to drive over and inspect a property listed in the multiple unless you call the listing agent first and obtain his or her permission.
 
 

THE RIGHT WORDS

Let's assume that you've done that, and now you're at the door of Pathetic Realty's listing. You're carrying a legal pad so that you can take plenty of notes. Here's the phraseology:

"Good afternoon, Mrs. Simpson. My name is Tom Hopkins with Champions Unlimited. I called and obtained permission from Pathetic Realty to visit you. As you can see, I don't have a prospective buyer with me at this time."

If you're not working for that firm, you have to let them know why you're there: "I would appreciate seeing your home so that when I am showing a buyer, I'll be aware of all the improvements you've made."

Notice the exact words I spoke. Did I say that I am going to show their home? No. I said that when I'm showing a buyer, I'll be aware of all the improvements they've made.

Once inside the home, you say, "Mrs. Simpson, my purpose in stopping is two-fold: first, to familiarize myself with your property, and secondly, to prepare a comparable market survey for a client in the area who's thinking of having me professionally market his home. May I measure a few rooms and make a list of your improvements?"

If you're dressed professionally, if you use this phraseology with practiced confidence, if you gather information about her property like an expert, is she going to see a difference between your action and that of Fred Blodgett, the full time butcher and when-he-feels-like-it real estate person? This is the property that's been on the market for seven months. Nobody except Blodgett has shown it for 102 days, and Mrs. Simpson thinks there's always something strange about the people Fred brings through. Under these circumstances -- and similar things happen far too often in most areas -- do you suppose that Mr. and Mrs. Simpson are slightly unhappy they gave their listing to the butcher?
 
 

SELLER'S REACTION

Now let's examine two common ways that sellers react to this situation. In both, Mrs. Simpson decides to come with me as I go through the home. I didn't ask her to, but she's a little curious.

"Mrs. Simpson, that paneling certainly enhances the living room. Did you and Mr. Simpson put that in, or was it professionally done?"

"I chose the wood and my husband installed it."

"A very tasteful choice;your husband is a fine craftsman. The carpeting -- it's one of the plushest weaves I've ever seen. It's new, isn't it?"

"Yes. We re-carpeted a year ago."

"It gives your entire home an air of elegance."

I walk through the house with her, trying to establish rapport and making copious notes. I am professionally dressed and my manner is professional throughout the interview. Now, as I start to leave, what's very likely to take place? Remember that the lady has been waiting for action for seven months, and nothing's happened. Then I come in, open her eyes, and start to leave without including her in the bright world of professionalism -- a world I've just let her glimpse. 

Here's what I say as I'm leaving:

"Thank you again. I appreciate your showing me your home, and I wish you and Mr. Blodgett at Pathetic Realty the very best of luck in selling it, Mrs. Simpson."

"Mr. Hopkins, they're not calling -- they're not showing our home. What is the problem?"

"Mrs. Simpson, I'd be happy to speak with you about your problem; how- ever, ethically, while your home is listed, I can't discuss it with you. We at Champions Unlimited believe that our company is founded on ethics. So I hope you'll respect me for that."

I want you to realize just what I did with that phraseology. Her home is listed with another firm; ethically I have no right to discuss her problem. Are you thinking, "But that part-timer isn't giving her any service"? That doesn't alter the fact that the Simpsons entered into a written agreement with Pathetic Realty; it doesn't alter the fact that the ethics of our profession require -- as they should -- as they must -- that you don't undermine another salesperson's agency. As long as it's listed, you can't discuss the price, the terms, or the problems.

And avoid any hint of smug arrogance when you talk about ethics or you'll offend more people than you impress. Say, "I hope you'll respect me for that" with humility.

Do most people respect someone who is ethical? Yes, they do. Think about why this is important for a minute. If Mrs. Simpson sees that you're too ethical to take advantage of Fred Blodgett, she'll feel that you wouldn't try to take advantage of her either. And she also feels that, since you don't rely on dirty tricks for your success, you must have the ability to be as successful as she's seen you are from the way you dress, the way you conduct yourself, and perhaps in the luxurious car you drive. Your refusal to be unethical, though disappointing to her momentarily, is the final touch that pulls it all together. When her listing with Blodgett, the butcher, at Pathetic Realty runs out, Mrs. Simpson is very likely to call you. Or, if you work expireds, perhaps you'll call her when you can ethically do so.
 
 

LEAVE A LASTING AND POSITIVE IMPRESSION

Here's the second direction that Mrs. Simpson might take as you're leaving.

 She may say, "Thanks for stopping by. They just turned my property over to Sally Thompson at Pathetic Realty. She works full time in real estate, and I hope she'll do better. I really like Sally; I hope you'll call her when you have buyers."

"So Sally seems to be giving you more service, then?"

"Well, yes."

"I haven't met Sally yet. But I will, and when I do, I'm going to tell her you think she's doing a great job. And you're lucky to be doing business with a professional."

What I tried to show you in the above cases is that, if they knock their agent, you don't. But you do take note of their feelings and the fact that, when their listing expires, they probably won't renew it with the same company. So if you show the Simpsons' home while you're showing your good listings, the odds are excellent that they'll call you when their current listing expires.

When she praised her agent, what did I do? I jumped on the bandwagon, didn't I? And I'm certain you would, too. This makes sense and can only help you reach your personal goals. All Champions should work at this same high level (which most professionals do, by the way), with total commitment to ethics and fair play. In this manner, they will truly earn their fees. 

When the day comes that all professionals function this way, then all the people who shouldn't have a license in the first place will have to get out of the business because they can't make any money.

Nobody belongs in real estate except ethical, honest, skillful, knowledgeable, devoted professionals. Out with all the amateurs!

Out-perform them. Out-service them. Out-think them. But never knock the amateur. A Champion never knocks anyone. That's for bush-leaguers. 

Never knock the competition, no matter how richly they deserve it. 

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