Realtor to Prospective Client: “I Don’t Know What I’m Doing. Is That OK With You?”

Why Residential Realtors Don’t Sell Shopping Centers or Warehouses

According to Realtors’ Code of Ethics, agents who provide specialized professional services concerning a type of property or service outside their field of competence have two choices:  1) they can disclose their lack of competence or expertise; or 2) they can engage the assistance of one who is competent on such types of property or service.

Somehow, I don’t see option #1 being acceptable to most clients.

Practically, then, that means pulling in an expert, who must be identified to the client, and whose contribution is made clear.

Even simpler:  referring the work to said expert.

In my experience, at least, a good referral (or three) is the way to go . . .

P.S.:  According to the Code of Ethics, there are nine discrete practice areas, including residential, property management, commercial and industrial, syndication, and auction.  Interestingly, resort and vacation real estate is NOT considered a separate specialty.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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