Today we break down the difference in working with a Trusted Advisor versus a Salesperson from recent client experiences. Do you know the difference between the two?
You’ll want to.
Defining a Trusted Advisor
A Trusted Advisor, by definition, means that you have business acumen, experience, training, knowledge, and expertise to be trusted to advise your clients well.
Defining a Salesperson
A Salesperson is, by definition, someone who works in sales, with the main function of selling products or services to be compensated for their completed sales.
Real-World Example…
Not too long ago, a past client reached out and said, “Can you please tell us what you think about this house? We absolutely love it! Also, what do you think we could get for ours?”
I was given the address and I told them I would take a look.
What I found was a beautifully remodeled and extraordinarily charming 1800s home. The list price was just north of $750,000. The existing home, since I was super familiar with the house and the neighborhood, would easily sell in the low $500’s.
I should be excited about the opportunity for approximately $1.3M in business, right?
Instead, I instantly thought, “This is not your end goal. I know this. I know where you want to be and it’s not here. In fact, it’s not even in this state.”
When you are buying, you need to think about selling.~Michelle Richard – Broker/Owner Almost Home Real Estate Services Share on XWhy does that matter if they fell in love with the house?
Why wouldn’t I want to help them sell or buy because they got the warm fuzzies for a new place?
Because my job is to remain unbiased and provide guidance.
Every single buyer I have ever worked with (or simply counseled) has received the exact same advice from us. “When you are buying, you need to think about selling”.
Why is that relevant?
The average person stays in their home for fewer than 7 years now. (Yes, even those of you who think “my first home is going to be my forever home”!) Statistically, that is not the case. Situations change. Jobs change. Marriages change. Preferences change.
Whatever the situation, you do not want to be stuck in a home that will be difficult to resell!
The existing home was an absolutely gorgeous, timelessly updated single level home in a highly desirable location with a reasonable and steadily climbing value.
The new love interest would for sure have a much smaller buyer pool because of the age and price point. I knew, with every ounce of my being, that this was simply a flirt with an idea… one that if the “end goal” was revisited, that lovey feeling would dissipate.
Do I enjoy crushing a love affair with a house? No.
Could I (or anyone) use $30,000+ in potential income? Of course. Would I be doing my job or be able to sleep at night if I didn’t point out my concerns?
Absolutely not.
Being the Preferred Trusted Advisor
My duty is to my clients as their preferred trusted advisor. I’m not in the sales business. We firmly believe in taking care of our clients as if they were truly family with trust for a lifelong relationship. We have honestly discouraged millions in sales when we knew that it wasn’t in our clients’ best interest or they were making a decision for the wrong reason.
I will never SELL a house. We are not salespeople. We are matchmakers, introducing people to homes until they fall in love. Then we become wedding planners.