By: Lee Davenport, Ph.D

If you have ever been on a dating app, then you know no matter how many questions you ask initially, there are some things that will be revealed with time, including the good, bad and the questionable. 

Selecting a real estate agent—whether on an app or not–is often no different in that time reveals more. But some things should be revealed on day one to ensure prospects swipe right (dating app lingo for wanting to get to know the prospect better). For instance, you may not have realized that a particular agent you selected to help you find a home is like a pitbull when negotiating. This may work in your favor with the temperaments of certain prospective home sellers but not with others who look for a gentle approach.

In honor of Valentine’s Day this month, let’s talk real estate shop using a dating analogy.

Swiping Right on Red Flags: Why are some sellers willing to put up with problematic behavior? 

You may not be surprised to learn that those new to a dating app can sometimes assume that everything presented is accurate. Whereas, dating app gurus may understand that it is important to “trust but verify”.

Similarly, some home sellers, when looking for a real estate agent, may take the word of a family member or friend, or hire someone they know, without doing their research. Unfortunately, some home sellers (particularly first-timers), may not understand the legal and financial ramifications of certain behaviors during a real estate transaction. 

This is no different than trusting the profiles on a particular dating app because a friend had a good experience. Thus, if the home seller has good reason to believe that the agent will get the job (of selling the home) done well due to a proven track record from a reliable source, then that home seller may be willing to overlook annoyances along the way. 

Before Swiping Right: What do people look for when hiring a real estate agent to avoid problems down the line?

We can all understand the trade-offs when working with fallible human beings! That doesn’t mean you should slack off when it comes to your listing presentations. These presentations are your interview, and you should put your best work on display.

Your future clients will be dialed on on your listing presentation, and if something is lacking, they’ll know. Honesty, integrity, and a command of local, state and national laws (or a lack thereof) will be on full display in that presentation, so make sure you’ve got the knowledge you need to show you can represent this potential client well.  

Consequently, home sellers will be listening not just for your ability to sell the home but also your ability to not fudge or blur the ethical and legal lines. This is no different than initially seeing a person’s dating profile but still asking questions to dig deeper into the responses.

The Fine Print: What legal and ethical standards are real estate agents held to?

Every reputable dating app has fine print. 

Comparably, it is important to remember that as a real estate agent, you are held to the various codes of conduct created by your realty firm, the state’s real estate commission and other local, state, and federal laws (such as fair housing laws, antitrust laws, etc.). 

Leading the pack, agents who are National Association of REALTORS® members have gone a step further and created an extensive code of ethics (with possible penalties for infractions) that anyone can review online (hint, hint: review it!).

Matched: What benefits do good real estate agents offer?

On some of the most popular dating apps, it’s usually a combination of characteristics that makes for a match.

Selling a home is a given, so buyers will want to see the receipts: Will you mind your Ps and Qs when it comes to ethical or legal violations, all of which are verifiable through your state’s real estate commission? If you know you have something in your background, be honest and transparent about it with potential clients. You don’t want them finding out on their own, when you could have headed of the conversation.

Furthermore, although most agents are not licensed attorneys, we still have a fiduciary duty to help our clients avoid legal trouble.

Make sure that you are properly educated so that you can turn around and provide an information-packed listing appointment on what fair housing is (along with other laws), so you can help keep your clients out of legal trouble.

In fact, I challenge you to ensure that all of the below points are incorporated into your listing presentation.

DTR*: What questions from clients do you need to be able to answer as an agent?

Some of the best dating apps identify from jump one’s intentions in the profile (long-term relationship, casual, FWB*, etc.). In the same manner, as a real estate sales and business coach as well as a fair housing educator, I teach agents to set expectations on day one. Ultimately, surprises can and should be minimized during one of the largest financial transactions most people will make. That starts with agents proactively establishing clear expectations and being able to answer the following questions:

Communication Cadence

1. Will there be daily, weekly, or some other consistent time for updates on marketing efforts, showing feedback, market trends, and transparent dialogue about challenges and necessary strategy shifts – even if there’s “no news”?
2. What is considered a “prompt response” to prospective buyers and showing requests? Some agents have a set time of day to return calls, texts and emails, while others respond instantly – either may be acceptable (or another variation) with advance notice. 

Pricing Strategy

3. How will you educate the seller on the local market and encourage realistic pricing and flexibility?
4. How will you handle the negotiation process? Again, the more forthcoming you can be, the less thrown off by surprises home sellers will likely be.

Marketing Approach 

5. What are the specific ways you will get eyes on the listing (e.g. social media, MLS, open houses, lawn signs, etc.)? Share any metrics that support your strategy.
6. How should the home be prepared (e.g. is home staging needed?, etc.) to maximize views on each marketing platform/source?

Legal/Procedural Guidance

7. Whether the home seller is an experienced real estate attorney or a first-time home buyer working her first job, how will you make a standard practice of educating the home seller on local, state, and federal laws?

For example, a typical first-time home seller may not know that RESPA requires that no referral fees are to be paid to those who are unlicensed. In other words, the unlicensed neighbor who referred the home seller will not get paid for this deal no matter how sugary sweet her request and demeanor are. 

Or, as another illustration, a home seller may not know that fair housing laws require that you not exclude a homebuyer’s offer because of a foreign language barrier (nationality is a protected class). 

In short, it is important to create a shared understanding of what is and is not legal and ethical from the start. Less of “Do you like this decor?”(it is important but should not consume conversations) and more of “Do you know these legal deal breakers?”

Picking a real estate agent, like swiping right on a potential date, gets easier the more that can be explained and discussed on day one. 

Happy matchmaking, whether with a date or a house!

*DTR: Define the relationship

*FWB: Friends with benefits