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Atlanta Real Estate Wisdom

Monthly Archives: June 2018

DISC-overing an Important Tool in Atlanta Real Estate

28 Thursday Jun 2018

Posted by Mary Anne Walser, REALTOR in negotiation, real estate, Real Estate Psychology

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#AtlantaRealEstate, #buysellatl, #realestatenegotiation

One of the most important things your real estate agent does for you is to NEGOTIATE on your behalf.  Even if you yourself are an expert negotiator, chances are that you are not expert in real estate negotiations, which have unique nuances.  In addition, it is better in a transaction to have someone else (not you) negotiating on your behalf – having a proxy helps by taking emotion and possible personal affront out of the equation.

One of the interesting and powerful negotiation tools that your agent can work with is the DISC personality assessment.  We have always known that each person looks at the world in different ways, but in 1952 William Marston introduced something that was revolutionary in psychological circles.  He identified the four most common ways in which people approach the world (and negotiation) and explained how they work.  His four categories have evolved in the DISC Profile.  The beauty of DISC, and why it is so often referred to in business, is that it is a very simple system and one that can be applied without extensive testing.  You can often tell a person’s primary “category” by simple everyday words they use and actions they take.  For example:

D –for “DOMINANCE”, these personality types talk fast and unemotionally, are task oriented and “get the job done”.

I –for “INFLUENCER”, the “I” personality is outgoing and friendly, chatty, and extroverted.

S –for “STEADINESS”, “S”s  are other/people centered, loving, take time to think.

C –for “COMPLIANCE”, these people are task oriented and numbers focused.  They know data.

Thus, if we can identify the primary or two primary profiles of the other party, we can determine what is important to them psychologically, which can in turn help us to come to a deal more easily, with everyone more likely to be pleased at the closing table.  If you are a high “D” you may not care that the other party be “pleased”, but think of it this way: a deal in which everyone is happy is a deal that is most likely to actually stick – more likely to CLOSE and not fall apart.  Here’s how you would use the DISC knowledge to better come to resolution with each personality type:

D-a “D” wants to WIN, so figure out a way that helps the D personality feel that s/he has won.

I-the “I” wants to feel good about the process; a win/win works best for them.

S-the “S” wants everyone to get along.  A win/win without too much bickering and argument will work best for them.

C-the “C” wants everything done correctly and wants to be sure that there is enough data upholding the result.

By knowing the other party’s psychological “DISC” profile, we can negotiate more effectively.

DISC also, of course, helps us in other facets of real estate.  If a client is a “C”, for example, we know that providing lots of data is important.  For a “D”, it is important to be quick, smart and effective.  And so on.

From you, the client’s perspective, it is important to have an agent who has all the tools necessary in his or her toolbox.  The “DISC” information is just one of many tools we use to craft deals that work.

And please remember to contact our team for all of your needs with respect to real estate.  We believe in continuous training to always supply the utmost service and benefits to our clients.

QUICK JOT OF THE DISC PROFILE

Quickly jotting the DISC categories can help during a negotiation.

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Listings in Our Pocket

05 Tuesday Jun 2018

Posted by Mary Anne Walser, REALTOR in real estate, sellers

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#AtlantaRealEstate, #homesellling, #pocketlistings

2015-08-04 13.50.33In Atlanta, there are many agents who tout “pocket listings” which, simply put, are listings that are never put on the open market.  They are sold without ever being put into the Multiple Listing Service.  It is said that the listing is “in the agent’s pocket” because only the agent and those she or he tells about the listing ever knows that it exists.

There are some instances when this makes sense.  If both buyer and seller agree to a pocket listing for their individual purposes, or prefer the listing not be made public, then it may never go into the Multiple Listing Service.  But it is important or all parties to consider carefully before taking this route.

Here are the PROS for this particular method:

  • From the seller’s point of view, there are limited showings, which can be very disruptive.  There are more limited numbers of people traipsing in and out of the home.  There is more privacy; for when the home is listed, the pictures and price are out on the internet for all the world to see.
  • From the buyer’s point of view, they are gaining access to a home that might otherwise be unavailable for them to purchase (if not listed, they might not know about it otherwise).  They do not have to face competition or get into a bidding war.

The primary potential CON that both sides must consider is PRICE.  The law of supply and demand tells us that when supply decreases, demand (and therefore price) goes up.  If the home is not available to the open marketplace, how does the seller know that they are getting the absolute most that they could get for their home?  From the buyer’s side, how do they know that they are getting a good deal, or are paying more than they should?

If the agent sells a pocket listing themselves, they will get double (or at least more than standard one half) commission.

All parties need to be AWARE of the various considerations and consider them carefully before proceeding as a “pocket listing” so as not to be caught with their pants down (forgive the pun).  The Georgia Real Estate Commission prohibits keeping a “coming soon” sign up in front of a house for too long prior to listing the home in the multiple listing service, but there is no prohibition against keeping a home out of the multiple listing service, and plenty of homes get sold that way.  If you are planning to participate in such a sale, however, carefully consider the pros and cons before you do!

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Mary Anne Walser, Realtor & Licensed Attorney

Keller Williams Realty
3650 Habersham Rd.
Atlanta, GA 30305
404-277-3527

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