TEAM Hughes Real Estate School Blog

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A Mistake I’ll Never Forget!

By: Carrie Hughes

Our IT people tell us regular blogging is good for business, so I do it. Today’s blog, however, is a bit different. I want to tell you about a mistake I’ll never forget!

I’ve made plenty of mistakes in my career. A mistake I’ll never forget, though, bears repeating with the hope it will help someone else who is fairly new.

I was privileged to sit under the training of a really fine broker in my early days. He trained me as much as possible, and I took advantage of all the systems available to me back in the 80’s, although they were nothing like today’s. One thing no one taught me, however, was the value of being up front with people.

I recall my first floor duty. An older lady called and asked me to come out and give her some idea of what her house might be worth. Even the most basic training will include doing CMAs, which is why this is a mistake I’ll never forget! I knew nothing about her subdivision, I did not know where it was, I certainly did not know anything about its reputation, I was new in the area, and I was bound and determined to get her listing. The call had come in right at the end of my scheduled time, so I ended up making the appointment to visit her within the hour.  

The lady took me through the house. I remembered that it was important to establish rapport, and I asked lots of questions about her and her family. I was certain she was impressed with my friendliness, my ability to converse on any subject she presented, and my overall glowing personality. We had ice tea, chatted about stuff, and finally she asked the question. “So, Carrie, how much do you think my house is worth?” I tried to explain that a CMA was in order and that it would take some research back at the office, some preparation, and then a nice presentation. She would not give up, she kept asking and kept asking and would not take no for an answer. Finally, I knew I had to fake it. I had no idea how much her house was worth!

Time was running out, she was becoming agitated, and I had to answer her. Finally, I took a deep breath, spurt out some number off the top of my head, and she stood there, staring at me, mouth open, for what seemed to be an eternity. Finally, the other dreaded question: “Carrie, how long have you been in real estate?” It turned out that I was off by about $100,000!

Needless to say, I needed more training! We can help with yours. Call or email us! Our post license course covers CMAs, and we would love to share more stories about doing things the right way.