- A feeling of deep admiration for someone or something elicited by their abilities, qualities, or achievements
- Due regard for the feelings, wishes, or rights of others.
To respect someone is to admire qualities in them and to show regard for their feelings, wishes and rights. Respect should be shown to everyone we meet, not just to those who can benefit us.
This may seem controversial, but not everybody in our industry agrees that all people should be treated with respect – although nobody will say so publicly.
But ignore their words and look at their actions. Here are three examples, but there are many more. Ask yourself, do these industry practices show respect? Do they make you proud?
Buyers are often treated poorly. A classic example is when an agent has multiple buyers on one property. Several buyers pay for pest inspections on properties they don’t have a chance of buying because the agent has quoted a low bait price to make them interested. They pay hundreds of dollars for building and pest inspections and never get to make a bid.
Buyers’ offers are disclosed to other buyers. No agent will admit to it, but we know that agents do this. It shows a lack of respect to the buyer who made the offer and shows a lack of ethics in sharing the offer with another interested party.
It’s not called ‘conditioning’ these days, but “managing the clients’ expectations” is mutton dressed as lamb. Whenever a salesperson quotes an unachievable price to sellers, or lies by omission and allows sellers to believe they will achieve an unrealistic price, it’s still conditioning.
This disgraceful practice is common in the industry. It results in sellers being pressured to reduce from a price the listing agent led them to believe they would get. ‘Market feedback’ is blamed for the failure to achieve the quoted price, but it all began with the salesperson’s dishonesty at the listing presentation.
Clients have long memories. If you intend on staying in real estate for the long haul, you need repeat business. In order to get repeat business, you must be honest and respectful at all times.
Treat them honestly and fairly. Treat them as you would a family member, and not as a one-off transaction.