The Rookie Real Estate Agent Mistake That Cost Me 1,000s!?

The Rookie Real Estate Agent Mistake That Cost Me 1,000s!?

– What up, fam? My name is Gavin, and today
I’m gonna tell you about a total rookie mistake that
cost me thousands of dollars on one of my very first real estate deals. Don’t do this. It all went (bomb dropping and exploding). It was all my fault. Ya live and ya learn, and hopefully you never
make this same mistake. Either way, I got your back. (sips loudly) Ahh. (synthesized music) Real quick, fam, if you
can mash, poke or stroke that subscribe button and
ring that notification bell, I put out terrible videos
on a variety of topics, typically real estate
or my fitness journey, and I’d love to have you stick around. (upbeat music) Here’s how it went down, fam. A lead comes in, I call her up, I get to know her a little bit. She’s a nurse with a daughter,
living with her parents, wants to move out of their house, wants to live in a certain neighborhood, wants to be within a certain
budget with a certain look, all of these things, right? And guess what? We skip a few steps here,
but about a week later, we go and look at some houses, and on the first day. we found the one. It was everything. Right price, right budget, right look, right neighborhood, right everything. And so, we write an offer on it, and I get it under contract for them. Everything’s great, everything is awesome. It was the perfect storm,
until I completely ruined it, ’cause I got a little bit ahead of myself, got a little overconfident. And I didn’t double check my paperwork and here’s how it went down. This was maybe like
the fifth or sixth deal that I had ever done. I was still like four
months into my career total. And I decided I wanna write
this contract on my own and I didn’t get somebody
else or my mentor at the time to double-check the contract
before I put it out, okay? But afterwards, once
it was under contract, he was like, aw great, awesome. You sure you feel good about it? I was like, yeah! I feel awesome! Yeah, it’s great. I’m feeling like a total rock star. And then, I noticed something. On the MLS it said that the
refrigerator, washer, and dryer were not gonna convey with the property, and I had told my client that they were. And I had made the
assumption that they were. And I was really, really stupid, and this cost me thousands
of dollars in the end because guess what? They most certainly weren’t going to convey with the property. And so, before my client knew this, I tried to fix things prior to that and I called the other agent and I said, “Hey, I may have got a little
bit of ahead of myself, “and I noticed that it says in the MLS “the refrigerator, washer,
and dryer are not gonna convey “with the property. “Is there any way that they
would leave them behind? “I mean, we’re giving
you a very strong offer.” Which was, I believe, over
ask if I remember correctly, just a little bit. “Do you think that’s
something that they would be “willing to part with? And the answer was, “Absolutely not!” Right in that moment,
I just went (grunts). “Great. “Okay, okay, I’ll figure something out.” And right there, I realized
I had sealed my fate, and I was gonna have to put this together. I had to fix this, right? I had to fix the problem
that I had created. And so, let’s get right into that part. (upbeat music) There was only one thing that I could do. I called up my client,
and immediately I said, “Hey, Shannon.” Totally made up. “I made a terrible mistake.” And she’s like, “Oh, no, what?” And I started off with saying, “I made the assumption
that the washer, dryer, “and refrigerator we’re gonna
convey with the property, “and that is not the case.” And in her voice I
could tell she was like, “Oh, okay.” Kind of just think like
extremely let down. And in her mind thinking, well, what am I gonna do without a frigerator? What am I gonna do without
a washer and dryer, right? She’s already going to
closing with some money, down payment and stuff like that. She didn’t have a whole lot of extra money to pay for that kind of stuff. I could tell on her in her voice that she was pretty
concerned, a little like, I wouldn’t say, she wasn’t pissed, but she was definitely disappointed. Immediately I followed up with, “So what it sounds like is
I’m gonna have to buy you “a refrigerator, washer, and dryer.” And that’s exactly what I
did with my commission money, is I had to purchase a refrigerator, washer, and dryer for her. And after all of the splits
and all of that kind of stuff, I remember I made like roughly
$150 after paying for that. I ended up netting $150 on this deal, and it cost me thousands of dollars. And you still gotta pay
taxes on the full amount of that commission,
right, not like the $150. IRS don’t care. And so, it was a huge mistake, but also a super valuable learning lesson. Not just in that particular incidence where I had forgotten
to check off that box or that kind of thing. It also just made me realize,
hey, hey, hey, hey, hey. Pump the brakes, bro. You’re doing great, like
you’re doing really well. But also, never think you know it all, and also don’t ever get too confident. If you start to feel
pretty elevated, okay, pretty much like, oh, I’ve got this. I’m killing it, boom. Like riding your own wave,
okay, of success maybe, and you’re just feeling like
you’re just the man, okay? Or you are the woman boss out there killing it in real estate, always remind yourself that
you are just one mistake away from completely tanking a deal, or possibly costing yourself
a good amount of money. And so, from that moment on, I just constantly double-check
everything that I’m doing, and really make sure
that all of my contracts are extremely clean. And that I haven’t really
made that kind of just negligent error is what I would call that. I’ve told every single
new agent that I know about this story in person, just so that they can avoid
making that same mistake. But at the same time, this
is also a lesson in that you’re gonna make
mistakes in this business, but it’s more important to
get out there, be active, and work with people, as
many as you possibly can. And just know that if you make a mistake, you can always fix it in most cases. That doesn’t make sense. Always in most cases doesn’t make sense, but you can usually fix it, even if it’s gonna cost you a
little bit of money sometimes. And the other part of it is always be willing to own
up to your mistakes, okay? At the end of that transaction, my client had so much more respect for me in the fact that I just told her, and came to her with a solution, and owned up to my own mistake
to make things right by her. And that’s just something that
you need to really ingrain in yourself is that if
you treat people right like I’ve said in all of my videos, they will treat you right in return, okay? And I’ve also had referrals
and stuff from them. But just know that you’re gonna make mistakes in this business, and it’s just kind of
how you roll with them. Just take ’em as a learning experience, kind of laugh it off in a way. But don’t ever forget
what it is that you did that got you into that position. With that fam, drop me a
comment and let me know what’s the biggest rookie mistake, if you’re a real estate
agent, that you made. Or what is the worst rookie
mistake that you’ve heard of from other agents? And then, also don’t forget
to mash, poke, or stroke that subscribe button and
ring that notification bell, ’cause I’d love to have you stick around, and I’ll see ya on the next one. (upbeat music)

4 thoughts on “The Rookie Real Estate Agent Mistake That Cost Me 1,000s!?

  1. nice video

  2. Can you buy me new appliances? If you're just gonna donate all your commissions to appliances, I can send you some people who need them!

  3. Disliked …. jk 😘

  4. Wow. You are a man of integrity. Sometimes it stings a little to sacrifice yourself, but at the end of the day you can rest assured that you made things right for the people under your care.

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