Competence and Integrity
Now some will read this book and say: Man, you really just don’t like real estate brokers, do you? Well it’s true, I don’t have much use for brokers who focus on client acquisition:
- Brokers who pretend that real estate is a sales job
- Brokers who use scripts and hire coaches
- Brokers who practice dual agency
- Brokers who hawk coming soon to advance dual agency
- Brokers who do not respect their clients and potential clients
- Brokers who are not honest with their clients or who spout malarkey because they are afraid to be truthful.
- Brokers who fail to offer their clients objectivity
- Brokers who are aggressive and pushy, stupid and lazy
- Brokers who underprice properties
- Brokers who care more about a quick and easy paycheck rather than the best interests of their clients
- Brokers who lack technical skills or business savvy
- Brokers with dysfunctional or illusory teams
- Brokers who sound authoritative but really don’t know what they are talking about
- Brokers who are inflexible regarding fees
- Brokers who offer the illusion of high service
- Brokers who refuse to compete on their actual value proposition
- Brokers who exploit fear and nervousness
- Brokers who attempt to shift their duties to the other side
- Brokers who are less than forthright regarding the goals of marketing and open houses
- Brokers who never take the time to fully understand their state’s offer and contract, and how to use it to serve their clients
- Brokers who view real negotiation skill as unimportant
I could go on, but notice one thing about this list: These are all choices that brokers make. And this list is before we get to brokers who lie and brokers who steal. Which are also choices. We have not discussed misrepresentation or misappropriation. I may not approve of the brokers who focus on client acquisition, but their activities and shenanigans are legal. So while this may not be a question of legality, it is a question of integrity. And the acceptability of low integrity choices, which become standard. Enter Gresham’s Law for Real Estate.
Now, you may justifiably ask: Well, who’s left? Surely the above list must include just about everyone in the business. But it does not; not by far. Because these attributes tend to overlap. If you see one, I would urge you to look for others. Start with dual agency, because it is a simple question to ask, and then keep your eyes open.
Competence is a choice. And a character trait. It is a function of integrity. That is how I started this book.
If we accept that competence is a choice, how could we possibly believe otherwise? Can one have integrity and yet not choose competence? No, in the business of real estate brokerage, if you want to claim integrity, you must first work on your competence. You must choose to be competent. And that competence must be purposefully acquired.
What is the alternative? No one chooses to be incompetent. But brokers certainly do choose to focus their attention elsewhere, and thereby neglect or ignore transactional competence. That is a choice they make.
And making this choice, the brokers demonstrate a complete lack of regard and respect for their clients. I can think of no other business where so many of the so-called professionals hold their customers and clients in such low regard. Surely this, too, is a question of integrity.
I hope you found this entire book to be about integrity. Because competence in the real estate business is really about integrity in the real estate business. Of course, all brokers proclaim competence and integrity. So it is my sincere hope that this book has helped you, broker and consumer alike, determine what these qualities look like and how to find them.
Now please, insist on them.
Reuben Moore
Cary, North Carolina
September, 2020