WELCOME 

“Calling somebody else fat won’t make you any skinnier. Calling someone stupid doesn’t make you any smarter. And ruining Regina George’s life definitely didn’t make me any happier. All you can do in life is to try to solve the problem in front of you.”—Mean Girls

Hey, y’all! I have a topic near and dear to my heart today because I recently had the best experience. This is something that’s going to be more and more important in the post NAR-settlement world, too. I’m talking about collaboration in lieu of confrontation. Oh, my stars, does that make everyone’s lives better. Some are better at collaborating than others, so we’re going to take a good look at how we can all make our lives easier by eliminating the Regina George factor when dealing with another agent. Here we go and happy Wednesday—I hope y’all are wearing pink!

THE REALITY OF REAL ESTATE

Down Payments Trending Down

Newsweek reports that the average downpayment for a home is now at an average of 13.6% and a median of $26,000, which is down from the all-time high of the 3rd quarter of 2023, when the averages were 14.7% and a median of $30,400.

Why have these averages been trending down? The change is being attributed to less competition in the market because housing inventory is increasing. In fact, we’re in the fifth straight month of supply increases, which is so nice to hear.

Are these averages higher than the pre-pandemic norms of 10.7% and $14,000? Yes, or course. But we are all about good news here and we’re gonna take a win when we see it.

Let’s always be positive where we can because it makes a difference.

@glenndabaker

Sweet talk is highly underrated! But it’s not just sweet talk from someone else it’s sweet talk to yourself… #G#GlenndaBakerR#RealEstateA#… See more

STORY TIME WITH GLENNDA

Be a Lover, Not a Fighter

Sometimes I feel upset with how I see real estate agents portrayed in the movies and on TV. Hollywood seems to think that all we do is bleach our teeth and sabotage each other, and that is simply not true. (Mostly.) With all the changes in our industry, it’s imperative that we have each other’s backs.

Now, 20% of the agents in any given market will sell almost 100% of the homes there. As an agent, you’ll work with your buyer or seller once or twice. But I guarantee you’re going to work with Lucy the listing agent and Betty the buying agent again and again, so it’s important that we learn to play nicely together. In my market, there’s about fifteen of us who do the bulk of the deals and we’re all on a group chat.

Here’s the thing we have come to realize—it’s not about the buyer’s side and it’s not about the seller’s side. Our side is getting all parties to the closing table.

Back in 2019, I was asked the question, “How do you handle a difficult co-op agent?”

I replied, “I have been that difficult co-op agent so I understand all sides. I’ve been the one who was making the deal impossible. There have been times that I have not been my best self, maybe out of fear that I’d lose the sale or out of frustration. Or out of desperately needing the close and seeing that other agent as the obstacle to where I wanted to be. So when you find yourself in a transaction where the other agent is being difficult for no discernible reason, take some comfort in knowing that it isn’t you. You are not the problem.”

The bottom line is that the best agents get everyone to the closing table. In a recent transaction, I worked with the very best seller’s agent. He was a dream. Anything we needed, he accommodated. Like, when my clients wanted to bring their parents to the place to kick the tires? He’d say, “Absolutely.” When they wanted to come back with their decorator and spend two hours going over every detail? He’d say, “My pleasure,” with the exact amount of enthusiasm you’d get from those nice kids who work the drive-thru at Chick-fil-A and are always trying to give you extra sauces.

Even when I went back to that agent with a giant price reduction, he didn’t get confrontational. He didn’t raise his hackles. He said, “Oh, my goodness, that’s a big bite but let me see what I can do.” He never said no. Instead of throwing up road blocks, he greased the skids so we could all slide into the closing table where everyone walked away happy.

Y’all do not want to be the brokers who blow the sale for everyone. Once I had cash buyers who wanted a very expensive home. The place was amazing, but the price just didn’t compute because the listing agent used comps from an entirely different neighborhood. (It would be like if you’re selling a home in Lancaster, PA and you only used comps from Philadelphia.)

I said to her, “My clients really love this home. They want it, but please help me explain the pricing because I can’t justify it. I just need a way to validate that number so everyone feels good about it.”

Instead of working with me, first, the woman spoke to me like I was an idiot for daring to ask a legitimate question. And then she literally turned the back of her head toward me, which is a real trigger for me. (My daughter Victoria was standing next to me and she was worried she’d have to pull me off this lady! But I behaved.) Ultimately, that agent ran off my highly qualified and motivated clients. She did her client a disservice because when no one gets to the end zone, no one wins.

I was interviewed by Seth Weissman in his book about negotiations. He asked me what the key to my style is. I told him that after 30 years in real estate, I’ve learned that I have to let the other person feel like what I suggest was their idea. The days of beating the other agent into submission are over. Now I will say things like, “Tell me where you’re trying to go. Let’s figure out how we can get across the plate,” and “In a perfect world, how do you see this ending?” Then I listen to them and make sure they understand they’re being heard and we truly try to collaborate on an answer that will benefit both our buyer and our seller.

Cooperation is such a simple strategy but it really does change the game for all involved.

glenndabaker

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GLENNDA’S GURU

Meet Ben Belack!

I’m so pleased to introduce Ben Belack, agent extraordinaire from Beverly Hills! He works for The Agency and has close to a billion dollars’ worth of sales under his belt. And of course everyone knows him from Buying Beverly Hills. (Forgive me if I’m a little bit star-struck today!) So excited for y’all to hear what he has to say, so let’s get right to it!

Thank you, Ben!

GLENNDAISM

We’re All in This Together!

GO HOMES.COM WITH GLENNDA

I am so in love with this new townhouse listing!

This four-story townhome in a gated Brookhaven community is less than five miles from Emory and the new CHOA campus, so the location could not be more perfect. It’s got a great view from the rooftop deck and it has plenty of green space for Fido! The terrace level could be a media room or a private retreat for a multi-generational family. There’s enough space for everyone and everything. This home is modern, it’s sleek, the finishes are sublime, and oh, my stars, it even has a dance studio! What else could anyone want?

Now, if you’re an agent, remember, with Homes.com, it’s always your listing, your lead.