How Mega-Agents Rationalize Being Unethical: Listen to this

The Way To Defeat The Guaranteed Sale Program:  Now watch this



FLETCHER: Now this is a funny story about this because when I first got into real estate, most people know this, I was a premed major, never taken a business or marketing class in my life. And so I get into real estate, how do I do this? I failed my first year, I ended up going to a Craig Proctor conference and at this conference I mean you are desperate, I don’t have any money, I haven’t sold any homes and I see all these agents doing the “Guaranteed sale program.” And I start to think to myself, “This is what I need to do.” But it doesn’t feel right to me but when I get back from the conference I convince myself, “Let’s just do it.” Everybody is doing it surely I mean it can’t be that wrong.

And I convinced myself of this. And so I go on this first listing presentation and it’s an ex-veteran, probably about 45 or 50, sort of a hard-nosed guy and he says, “I see you’ve got some program that is guaranteeing to buy my house, what’s that about?” And I say, “Yeah, it’s a pretty simple program. If your home doesn’t buy or sell in 120 days then I will buy it.” “How much money have you got? How can you run around offering to buy everybody’s house?”

“Uh, well I mean there are different terms and there are conditions, not everybody qualifies.” “And so it was bait and switch is that what you’re telling me? The Asterix? It’s like winning the lottery, there are so many terms and conditions it doesn’t apply to anybody, you are talking about bait and switch?” And I was like 26 years old and I was starting to sweat, you can start to see the beads rolling down… “I am like no, no.”

“Then let me hear those terms, let me hear those conditions.” “All right.” And I start listing them off, “Who is going to fall for that? You think they are stupid?” “Oh, no…” “You think I’m stupid?” “No, I don’t think you are stupid.” “Who is going to fall for that? Who is going to wholesale their home? And then you’re going to take 7% of that?” “Uh…”

He eviscerated me! I mean absolutely destroyed me! I walked out of that appointment. Not only did I not get it but I felt about this tall. I mean put your fingers together make a very tiny crack and look through it, that’s how smart I felt. And from that day forward I never did that program again. It confirmed everything I believed; that it is disgusting, that it is bait and switch and that if you are a person who wants to earn trust, there’s a lot more harm than good.

If you are a salesman and you’ve got the salesman gene where it’s on to the next and you don’t care what people think of you in any way shape or form in terms of your reputation, fine, have at it, do it. But I don’t know, I happen to be of the Warren Buffett mindset about reputation. “If you cost me money, I will forgive you. If you cost me my reputation, I will be ruthless.” And so I protect my reputation at all cost and I wish more agents would do the same…




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