Duration 6:48

The Unspoken Code Amongst Realtors

by Valuetainment

127 689 watched

0

8.8 K

Published 20 Jul 2021

In this video, Patrick Bet-David gives his biggest piece of advice on how to deal with realtors when looking to buy or lease real estate Subscribe for weekly videos http://bit.ly/2aPEwD4 Suggested video - How to Negotiate a Commercial Office Lease: /watch/4idFAn-yNBiyF Order Patrick's Wall Street Journal Best Seller: Your Next Five Moves https://bit.ly/2Y48POF Private Coaching from Patrick Bet-David - Apply Now: 1 On 1 Mentorship: http://bit.ly/2ow0mEO Monthly 90 Minute Webinar: http://bit.ly/2PxF30R Keynote Request: https://bit.ly/2ZXaUfI Follow Patrick on social media: Instagram: https://www.instagram.com/patrickbetdavid/ Twitter: https://www.twitter.com/patrickbetdavid LinkedIn: https://www.linkedin.com/in/patrick-bet-david-3731553 Facebook: https://www.facebook.com/PatrickBetDavid.Valuetainment To reach the Valuetainment team you can email: info@valuetainment.com Subscribe for weekly videos http://bit.ly/2aPEwD4 #Valuetainment #PatrickBetDavid

Category

Show more

Tags

Entrepreneurs

Entrepreneurship

Entrepreneur Motivation

Entrepreneur Advice

Startup Entrepreneurs

Valuetainment

Patrick bet david

How inflation works

Inflation explained

Understanding inflation

Real estate

Real estate advice

How to deal with realtors

Understanding realtors

Real estate advice for people looking to buy

How to find a business office

Leasing a business office

How to negotiate business office rent

Comments - 665

@

@medicmike49063 years ago Most attorneys go to the same country club, enough said. 154
@

@armandalikaj3 years ago There are realtors in the transaction business as there are realtors in the relationship business.
find one that practice the relationship building model and you will be fine. 84
@

@juxhinmeminaj34463 years ago Information is key in business, you must hold it close to you, be vague when you need to be and be honest when it suits you. 5
@

@scottsoriero83773 years ago Pat, i am a huge fan of yours. I am a retired firefighter from very busy city in nj for 30 years. Had to retire due to injury. I became a realtor some . ...Expand 1
@

@maryadams30873 years ago Patrick, that is ani have been a real estate agent since 2006. It is unethical and disloyal to team up with another realtor to get most money out of the deal without considering the client to whom we each have a fiduciary duty to be their personal super star, not the interest of anyone else' s pocketbook, including our own! Have i known agents who are unethical, yes, but they burn eventually themselves by their own behavior and their reputations precede them. Thank you for opening up dialogue about this topic and the many other conversations you bring to the table. Best regards and highest respect, mary adams. ...Expand 2
@

@jamesstanley47643 years ago Fellow 101 guy here. I love what you do and i am thankfull for your gift. Keep on goin! 2
@

@rickypalaciosrealty3 years ago As a realtor in las vegas i can see your point. But theres another version of this that doesnt take current market condition into consideration. At id="hidden4"some point, in my experience recently, yes we have conversations like that with the sellers agent for example but its to compete and win the home for the client not to increase our bottom line. Different markets create different strategies. If it takes me speaking with the listing agent like this to beat out 30+ offers for the same home after a month of viewing properties. I will have that conversation and make sure the deal goes through as a win for everybody. Its all about creating win situations while building better relationships all around. ...Expand 5
@

@noelflores43893 years ago That happens in almost every business. But, being a real estate broker in texas. Your client' s best interest, is always paramount. Always. 10
@

@michaeltruly32603 years ago I am in the industry this may be true in la amongst the top producers. However, when you have many realtors in a city and not a top producer you can literally . ...Expand 32
@

@theguydudety3 years ago Good stuff, i have to make myself just as valuable in the long run for the realtor. Thank you starting to look for new home and my wife and i will be keeping this in mind. 4
@

@SuperSimpleRealEstate3 years ago Love this video patrick! Thank you for making it and for making this realtor feel good man!
@

@leoflores28743 years ago I have bought several homes. I am embarrassed to admit this never occurred to me but thankful you brought this up. Thanks! 2
@

@LOVERGEIST7773 years ago I love how diverse the content is that you put out. 1
@

@rajsonune55393 years ago Man you are real streetlove and thank you very much for being our mentor.
@

@fred_butts3 years ago Pats point is valid across most service industries, including the one he work in. Lawyers, insurance companies, realtors, businesses of all sectors h id="hidden7"ave people that operate with high ethical and moral standards, and those that operate with no ethics or moral standards. The key is to look for those people that share your values. If the real estate agent, lawyer, or insurance agent you are considering does not know and state his core values, odds are he is not operating from them. ...Expand
@

@OsbieCamacho5093 years ago As a licensed realtor i practice a win model! Yes i want my buyers to win however in a competitive market some compromises may have to be made on the buyers great video pat, im a huge fan of valuetainment & owe a hug portion of my success to your vids!. ...Expand
@

@papipapanda18333 years ago I want to go into real estate. Gotta start studying! Great video, great channel. Thanks!
@

@Mac_Raymond3 years ago I just bought another home and my agent was resistant to push and get the seller to make concessions. Found out today she joined the sellers agent' s agency. Now i know why. 12
@

@AndrewAker3 years ago Nailed it again pat. Looking forward to you guys coming back to maui.
@

@therodgersgroup59523 years ago @patrickbetdavid - great points. It all boils down to working with someone with character & competence. An agent that has relationships in the marketplace . ...Expand
@

@nickvids3 years ago Every realtor is an agent but not every agent is a realtor. 23
@

@wellsking94263 years ago This is the most honest post ive seen since 2003. If this man speaks, listen.
@

@felipe7413 years ago This is good information. Pat is a king.
@

@brandonisgone3 years ago One thing that has worked for me is letting my selling realtor have sole access to my property for 7 days. To get both sides of commission before putting . ...Expand 21
@

@mandojoe80313 years ago Allow sellers to post their own property on zillo. Get your own photographer. Get an attorney to draft the contract. Remove the selling agent and buyer agent. Big savings. 4
@

@BusinessTipsWithYulianna3 years ago So happy you posted this! This is definitely something that should be talked about a lot more. 2
@

@donnaaddy72653 years ago If youre in florida youre in good shape because florida realtors are notorious for never calling the other realtor let alone their own customers. 9
@

@JonathanSorunke3 years ago This is so true! A lot of people forget that the realtors are going to work with other realtors more than with you so its in there best interest to m id="hidden13"ake them happy. I like the solutions you proposed as well, just goes to show the importance of influence! Great video!. ...Expand 30
@

@Pauloveskim3 years ago Everyone, everyone, is in it for themselves. Everything is a show. 28
@

@KodeStreet3 years ago Pat, as realtors, we have fiduciary obligations. Is required. At least its the case for maryland. It is true that there is an incentive to want to cooperate with another realtor. 19
@

@ohno57183 years ago Just like getting a free public defender when you cant afford a lawyer. They are in cahoots with the prosecution attorneys and judges and will do what . ...Expand 16
@

@douglasdoddtherecoverycoac31783 years ago Amen.
realtor doug for all your real estate needs.
@

@bulgarbulgar40243 years ago Patrick, you are providing valuable information and helping many. Thank you for your time and effort. Keep it up! 3
@

@asalaspay3 years ago I' m a realtor in socal and it would be nice if i could work with the same agents regularly, that way i would know what to expect from the transaction . ...Expand 2
@

@andrewhernandez12753 years ago Pawn shops also do this, when you walk out of their shop, they call the guys down the street and let them know how much was offered, what the item is, etc. 1
@

@danielprada61533 years ago Im a realtor and it is 100% point! Its just how businesses goes!
@

@raulvilla9423 years ago As a realtor you have to protect your clientsand be fair and ethical all parties. 26
@

@szuberi3 years ago Pat, i always love your videos. Greetings and good wishes from canada! 3
@

@phillycrimestories303 years ago 100% true and im smart enough to know this but thank you for posting this.
@

@mahfeww3 years ago I' m waiting for the referrals portion - here in kansas.
@

@sb7319683 years ago Good stuff pat, you write just like my doctor writes my prescriptions. 7
@

@PopoffMuzik3 years ago It' s the same withd. A. #39; s, judges and police officers. It' s a team game and us regular folk are the bait. 15
@

@debk53253 years ago I love your podcasts. Thanks so much, knowledge is power. 2
@

@DouglasLee93 years ago As a realtor, i see all the hate on realtors that come from bad experience. I can also say, that as a realtor ive been told by many customers ill be a . ...Expand 4
@

@KRscience3 years ago I was so nave when i bought my house, and the realtor took advantage of it. It was my fault for not reading up better on the subject. Next time i buy, . ...Expand 10
@

@alancoman43733 years ago Makes sense. Principal agent problem, when the realtors can solve their game by cooperating and messing the buyer and seller at the same time. I think it' s time for a different paradigm in real estate transactions.
@

@zach2733last year Maybe this is true in a small community with 3 agents but most of the time the agents barely know each other on top of that both agents wont make enough o . ...Expand 1
@

@michaellachancerealestate3 years ago Take care of people and everything else takes care of itself, every time!
@

@ivanporsche25723 years ago Im 18 and currently in the process of getting my real estate license here in florida and this video helped cement my strategy to focus of repeat business a . ...Expand 17
@

@MagicGate8143 years ago You make a valid point. My guess is that not everyone goes house hunting or house buying on a regular basis to know realters are working together against you.
@

@kevinrtoday3 years ago Great video pat! Recommend making one from the lender stand point! 3
@

@thethomasj17953 years ago The fiduciary relationship starts and ends representing the seller. 10
@

@twinworks13 years ago Im not saying what you said isnt common but there are good ethical realtors. I like to think that im one of them. I recently got a buyer a house and i . ...Expand
@

@lailadavids3 years ago I need your help. I just became one, and i am just noot getting this maan. And i am not used to working with teams.
please help me get motivated to stick with this, before i give up after working so hard and spending so much money to get hear.
by the way, i love your voice. I looked you up from listening to your vybo video, i was like, man i can really enjoy just listening to his videos because youre very easy to listen to.
super real, super genuine. ...Expand
@

@ElectricBillSaverGoSolar3 years ago What about ethics, fiduciary duty to seller? In some parts is not even possible to disclose any info on price. But if they work too many times then they forget about that and that' s when legal issues appear.
@

@olukayodebalogun34023 years ago As a solicitator, you are probably right though many of us are objective and bound by the ethics of our profession but realtors are a different breed entirely. Thanks for a great content. 4
@

@Norwalquero3 years ago That' s great advice patrick. Unless, of course - like most of us schlubs - the only time we have occasion to interact professionally with realtors is when buying a house - maybe once or twice in a lifetime.
@

@how2diy73 years ago Our policy is to never influence price for a buyer or a seller. Doing so opens you up to a lot of liability. A true transaction brokers job is to bring a buyer and seller together and work to archive both of their goals.
@

@ericgarcia52323 years ago Im a realtor from houston this a great video.
@

@jrocket983 years ago I' m a buddhist, realtor in rocky point, mexico a cute little town 75k on any given day. Thank you for putting this out there, i will always be 10 . ...Expand
@

@KHAN-gg3xb3 years ago Wow i never thought i would see this practice be put in a video lmao. 2
@

@mightymikereid3 years ago True about the relationships. But the additional 500k commission means nothing if i lose the customer relationship or trust on future deals and referrals.
@

@teachmeguitar41493 years ago Hey pat how do you network and improve yourself when you have no friends, no family, no support network and 2 kids and a job that pays you enough to need . ...Expand
@

@12stnumbers953 years ago This is how lawyers decide on time for criminals at panera bread. 6
@

@mikem29373 years ago With all due respect pat, you' re right on a very small percentage. 1
@

@MsMooncrash3 years ago This is a hard problem to combat. It' s a silent problem and it is hard to detect that its actually occurring. Very stressful for buyers in a sellers market.
@

@darrynvanrooyen26293 years ago Being from a country where there is only 1 realtor in the mix representing the seller, its always weird to try and understand why 2 are needed in some places. 1
@

@olawaleadegoke37823 years ago Great job patrick. Always get value from your videos.
@

@joannhall35213 years ago It' s a licensed industry. A good doctor became a doctor because they have interest in the well being of others. A good realtor does the same. I' ve . ...Expand 4
@

@fieldrealty3 years ago Way to rebound at the end. Signed, eithical realtor.
@

@jackominty36333 years ago I am in no way connected to the business - i bought two properties in my life - but i firmly believe this:
(1) it' s only about volume of transitions. (2) effectively, everyone is working for the buyer.
it' s about moving on to the next deal. ...Expand
@

@JC-Finance3 years ago Just be cautious on who you work with because theres going to be good and bad people in any industry especially if youre dealing with transactions. 3
@

@cevinsrrealtor78363 years ago Right when I was going to close the video, he started talking to me Lol.