S.E.C. Real Estate Observer

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 Editor’s Note:  This article first appeared in the February 1973 issue of the Real Estate News Observer

So you do not want to become an exchangor?

Many brokers and salesmen feel that they do not want to spend the time, money, and effort to educate themselves in the specialized field of real estate exchanges. Fine, exchanging isn’t for everybody.

On the other hand, is there a suc­cessful broker or salesman any­where who would not like to work more efficiently and have greater client rapport and loyalty?

If you say “Yes,” then learn about real estate counseling.

Counseling (in the brokerage con­text as opposed to consulting) is a process for finding out what a client needs instead of what he wants. Prop­erly done, it builds client confidence in the broker and lowers sales re­sistance.

Counseling procedure is aimed at finding out what the client thinks is im­portant as opposed to what the sales­man thinks is important. Real estate counseling and client management are the most important concepts in our industry today for practitioners who have achieved product knowledge.

The counseling process is appli­cable to handling buyers, sellers, managers, lessors, and exchange clients more effectively.

If you understand and practice counseling, you will be more produc­tive. You will be less wary of your clients and more open-minded toward creative solutions to their problems.

If you should happen to be working with a knowledgeable exchangor, your chances for escrow will be greatly enhanced. The exchangor can supply techniques and for­mulas. You can share the load because you will understand what your client is really trying to accomplish.

As a counselor, you will be able to more effectively communicate with all parties to the transaction.

Bill Broadbent, S.E.C., CCIM (San Luis Obispo, California) was an active real estate broker in San Luis Obispo, California. Bill was president of Arnett & Broadbent, Inc. and specialized in investments, exchanging and consulting, all under Single Agency. A pioneer of Buyer representation since the early 1970s, he is acknowledged as “the Architect of Single Agency.” In 1998, the National Association of Exclusive Buyer’s Agents with an Outstanding Service Award honored Bill for his service as a “Founding Father of The Exclusive Buyer Brokerage Movement.” He is also recognized for his major contributions to real estate exchanging, the consulting alternative and the discount note business.