Reviving the Lost Art of Communication

By: Dana Harris
Del Mar, California

Dana is AREA’s resident Guru on the practical use of the internet. He can be reached at dana@danaharrishomes.com 1-858-442-5423.

 

technology and communication in real estate business

 

I once heard someone say “texting is a brilliant way to miscommunicate how you feel, and misinterpret what other people mean”. So it begs the question, when we are communicating with others: what is the best way?

With the advent of technology and the spread of cell phone use, communication has taken on the fast-paced, short attention span of instant gratification-style of conversation. For those of us who are older, or don’t have teenagers at home this may be hard to relate to. But, darn it, we must!

Consider the fact that the average age of a real estate agent is about 57 years old; by contrast the average age of homebuyers is in the mid-thirties. This new wave of millennial buyer has grown up with a cell phone, texting, Facebook, Twitter, Snap Chat, Vine, Instagram and the list goes on, as their chief means of communication.

Acknowledging there is a time and place for all of these technologies to add some value in our lives; we also need to remember we are in a people business. Effective communication with another person is paramount to our success.

There is a big difference between listening, so you can talk next, and actually listening to someone else so you can understand. As agents, we need to ensure that important conversations are handled using the right communication medium for the best outcomes.

I once had a first time millennial buyers who tried to use texting to resolve a contract issue. When they asked me if all the contract documents I sent them should be read, or should they just be signed and sent back to me; I immediately invited them for a working dinner where we could go over the issues and figure them out.

They were very grateful for me taking the extra time to do this. All they really needed was someone they could trust, who will communicate with them, clearly, to help them understand the full implications of the decisions they were about to make. They had no clue how to do that. But our generation does and we need to show them how that works.

As agents we have been pulled into this technology and communication vortex by the industries rapid development of systems. We’ve become dependent on these online tools like the MLS, forms packages, client management software and electronic signing software like DocuSign. These tools allow us to email directly to and from our clients never using a stamp and saving tons of time. These tools also help when your clients are geographically diversified or have inflexible schedules. And, when we communicate it’s always important to think about what tools, like a cell phone, texting, Facebook, Twitter, Snap Chat, Vine, Instagram, fit best into our communication strategy and work flow.

However let’s not forgot the tried and true value of face-to-face communication. And maybe next time, instead of sending them a text, we should invite them out for a cup of coffee.

Photo Credit: afagen via Compfight cc

Some important issues for U.S. real estate agents

By Dennis Badagliacco

Dennis Badagliacco, is a member of AREA and a National Association of Realtors® Legal Action Fund Trustee 2013-2015 and the NAR Liaison with California Association of REALTORS®. He is on the cutting edge of legal matters affecting real estate and doubles as a commercial real estate broker in Silicon Valley, California and may be reached via email dennisb@legacyrea.com.

Potential Agent Liability for use of a broker’s trademark: A large company in Southern California, RE/MAX All Cities, was sued by a brokerage of 2 people who claimed they had the trademark to “All Cities”. RE/MAX had paid an attorney to research the availability of the trademark. Subsequently, the RE/MAX All Cites brokerage filed bankruptcy. The case of the two person All Cities Realty was thrown out of court. The small brokerage appealed claiming that EACH of the 1700 agents in RE/MAX All Cities is liable for use of the trademark. The case is on appeal and in order to be dismissed from the legal action the small brokerage is basically black-mailing the agents to settle for fees up to $5000 each. A few agents have settled. NAR and CAR are backing the agents in the appeal. Should the small brokerage win, the case would have huge ramifications nationwide. The small brokerage is owned by a Nevada Corporation and the agents practiced real estate in Southern California.

Flood Insurance: The National Flood Insurance program has never been financially based on an actuary table (as most insurance is). Congress passed a law to make the program self-sustaining. All properties in a 100 year flood plain now need an elevation “statement” in order to be sold. The current owner of the property is grandfathered (for a period of time) with the old rate. The new owner may have a huge rate increase. In some cases, the rate increase could be a 500% increase! NAR is sponsoring legislation to stop/delay the implementation of the new law. NAR has a form available for agents to use discussing the new flood insurance fees. If allowed to stand, many properties will be almost unsalable.

For more information on issues directly affecting you, Dennis suggests Real Estate Professionals consult with the appropriate legal and/or accounting professional.