Do You Sell With Soul?

13 Questions | By Jenniferallan | Updated: Mar 21, 2022 | Attempts: 184

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Have you heard about Selling with Soul? It's a fresh new approach to the art of selling real estate (or anything else, really) without changing who you are or becoming someone you don't recognize. If you're dismayed by the Old School training techniques you're learning about, Selling with Soul might be just what you're looking for! Following is a short quiz to evaluate your existing knowledge of the Sell with Soul philosophies. Please note that agency laws and protocols vary from market to market, so don't get too caught up in the details. Just respond to each question from your gut, not necessarily what you've been taught in real estate school or other training you've received. You might find yourself saying "it depends" on many of the questions and that's fine! Part of

Questions and Answers

1.

Your best friend from college (who lives across the country) calls to tell you that she's shopping for her first home. She's using a real estate agent she met at an Open House last weekend. Do you:
- A.
  
  Ask for her agent's number so you can arrange a referral fee?
- B.
  
  Offer to find your friend a better agent through your referral network?
- C.
  
  Congratulate her and ask her to keep you posted on her progress?
2.

You meet a young couple at a mutual friend's wedding who is looking for an investment property in a town 45 minutes away. You aren't familiar with the market, but do have access to the area's MLS. Do you:
- A.
  
  Tell them you'd love to help and schedule an appointment?
- B.
  
  Tell them you aren't familiar with that market, but you'd be happy to learn it with them?
- C.
  
  Refer them to an agent who specializes in that market and collect a referral fee?
3.

As a seller's agent, you just put your first listing on the market and receive a decent offer right away. Within a few hours, you have four other agents call to tell you they're writing offers too. Do you:
- A.
  
  Discourage the additional offers because it's ethical to work with the first offer presented?
- B.
  
  Tell all five agents that a bidding war is brewing and encourage them to bring their best offer?
- C.
  
  Tell the first agent about the pending offers and promise to give her offer priority?
- D.
  
  B or C
4.

You are holding an open house for your seller client. Do you:
- A.
  
  Immediately offer all visitors a brochure you created of all available homes in the area?
- B.
  
  Describe the features of the home you're holding open and offer to answer any questions?
5.

Should you discount your listing commission for good friends and family members?
- A.
  
  Probably - they'd do it for you.
- B.
  
  Of course not. A true friend would never ask you to.
- C.
  
  It depends on whether or not you're competing for the listing.
- D.
  
  B or C
6.

You represent a seller who specifically asked you to exclude the washer and dryer from their home's inclusions. You forget. You receive an offer with the washer and dryer included. The sellers sign the offer as written without noticing. When the sellers move out of the house, they take the washer and dryer with them. The buyer's agent calls you afterwards to discuss. Do you:
- A.
  
  Offer to replace the washer and dryer for the buyer. After all, it was your mistake.
- B.
  
  Call your seller and ask them to return the washer and dryer. After all, they signed the offer; they should have read it.
- C.
  
  Apologize to the buyer agent for the misunderstanding. Explain what happened and hope she understands.
7.

You have a listing that is generating a lot of interest online. Many buyers contact you directly to show them the property, even though they already have their own buyer agents. Do you:
- A.
  
  Refuse to show your listing to represented buyers? After all, that's why they have a buyer agent and you don't want to step on another agent's toes.
- B.
  
  Show your listing to the represented buyers with the appropriate disclosures?
- C.
  
  Show your listing to the represented buyers, but afterwards insist on a referral fee from the buyer agent if the buyer makes an offer?
- D.
  
  B or C
8.

You're on floor duty at your office and a potential buyer walks in. You meet with the buyer for a few minutes and he asks if you can show him some homes later in the day. Do you:
- A.
  
  Ask him to sign a 3-month Exclusive Buyer Agency agreement with you before heading out to look at the homes?
- B.
  
  Ask him to sign a one-day Exclusive Buyer Agency agreement with you before heading out to look at homes?
9.

You are committed to prospecting at least three hours a day, from 9am to noon. On Tuesday, you sit down to prospect and your phone rings. You see on your caller ID that it's your client with whom you have a closing at 4pm today. Do you:
- A.
  
  Let it go to voicemail and call him back at noon?
- B.
  
  Answer the call?
10.

You interview for a listing on a busy street. Due to the high traffic, you know your FOR SALE sign will get a lot of exposure. However, you also know the home will be difficult to sell unless it is priced appropriately for the high traffic location. The seller wants to price the home $30,000 higher than your recommendation. Do you:
- A.
  
  Take the listing at the seller's price because you know you will generate a lot of buyer leads, and later, ask for a price reduction when the feedback starts coming in?
- B.
  
  Take the listing at the seller's price, but have the seller sign a disclosure that he acknowledges your pricing recommendation?
- C.
  
  Politely decline the listing at the seller's price?
11.

You are interviewing for a listing and your savvy seller prospect asks you how you handle "double-ending" the sale of their home (i.e. if you handle both the buying and selling sides, thus potentially entitling you to the entire commission). Your response is:
- A.
  
  You politely explain to the seller that you would be entitled to the entire commission.
- B.
  
  You offer to reduce your commission by 1% if you "double-end" the sale.
- C.
  
  You offer to waive the co-op commission if you "double-end" the sale as long as the buyer understands that he or she has no agent representation.
12.

You meet with a buyer for the first time. The buyer tells you upfront that she has not yet talked with a lender and doesn't know exactly what she can afford. Do you:
- A.
  
  Ask her to call a lender and then call you back to reschedule?
- B.
  
  Give her some lender recommendations and proceed with your appointment as planned?
- C.
  
  Refer her to someone else who has more time to waste with someone who isn't ready to buy?
13.

You've had a listing on the market for a month when the seller changes his mind and doesn't want to sell. He offers to reimburse you for your marketing expenses. Do you:
- A.
  
  Cheerfully terminate the listing and either accept or decline his offer of reimbursement, depending on how much money you've spent on marketing?
- B.
  
  Refuse to terminate the listing?
- C.
  
  Agree to terminate the listing, but insist on a 1% cancellation fee?