Lori Cox

• Recruiting & Retention

Lori Cox Real Estate Educator, Faciltator & SFR Co-Author The industry would benefit greatly from the Gen Y demographic. Great information!

"When you first start working with a buyer or seller, explain the multiple-offer process up front. Tell them that if there is another offer on the property, they will be advised of that fact immediately." The Code of Ethics, Article 1-15 indicates that it is up to the seller to determine if it is in their best interest to disclose the existence of multiple offers. Therefore, it would not be wise to indicate to buyers that they will always know when they are in a multiple offer situations as again, it is up to the seller to determine if they want this fact disclosed. Often, sellers are more able to determine the best qualified buyer by seeing all offers and then determining what to do next with respect to an acceptance, counter offer or rejection. Perhaps, if disclosed up front that there will be multiple offers, the seller may never see the best buyer becuase that particluar buyer walks away from negotiations. Lori Cox Real Estate Educator, Faciltator & SFR Co-Author

Lori Cox Real Estate Educator, Facilitator & SFR Co-Author Having been a psychotherapist prior to becoming a REALTOR®, I too, have consistently spoken to my clients, customers and for the last 15 years, facilitated classes and coached agents in listening and watching for the emotional clues in decision making...I believe understanding the impact of emotions during the process of buying/leasing and selling/renting residential real estate is essential to best business practices today. Emotions are all over the board...not only does the REALTOR® need to understand how emotions control decision making or lack there of, but also how emotional decisions can create additional baggage whether it is a home owner hoping to stay in a home that is unaffordable or a buyer purchasing a home that they have fallen in love with and the home has none of the essential features that the buyer needs yet wants. Yes, priorities do change however, I agree, the REALTOR® that understands the emotional process of buying as well as selling may empower better decision making among their clients. Having a counseling session with the potential buyer or seller so all can to gain a better understanding of the emotions, motivations, time frame, etc., is what I believe needs to happen before buyers buy and sellers sell. If an agent can impact their clients by discussing the concept of emotional buying/selling BEFORE making a residential real estate decision, this is an agent that may very well create a relationship of trust and integrity with his/her clients and may be the beginning of a lifetime of transactions with that particular client, their friends, family, and business associates.