Perception vs. Reality 

I was sitting in an open house over the weekend, and something interesting came up that I think illustrates the difference between perception and reality. Several visitors who stopped by had the perception that if they wanted to buy the home, they needed to go directly to the listing agent. Their reasoning? They feared that working with a buyer’s agent would mean paying an extra commission. 

This misconception seems to stem from the recent National Association of Realtors’ lawsuit settlement, which has led the media to spread some misinformation. The media is impressing upon the general public that sellers can no longer pay the buyer agent’s commission. But here’s the reality: that’s absolutely not true. Sellers can still pay for the buyer’s agent commission, no problem whatsoever. In fact, it’s still being done every day. Unfortunately, the perception planted in consumers’ minds has led them to think this misinformation is reality. 

The second example hits closer to home for us as loan officers. There’s a widespread perception that high-producing real estate agents—those top-performing “whales” in the industry—are already locked in with loan officers they’re 100% committed to. Many loan officers believe there’s no possible way to build a relationship with these agents because they’re perceived as out of reach. But here’s the truth: that’s simply not the case. 

Every day on CallStars and within Mortgage Marketing Animals, we hear success stories from loan officers who have managed to land appointments with these high-producing agents. Not only do they land the appointments, but they also start drawing business from them. The unfortunate reality is that most loan officers out there believe that breaking into these relationships is impossible—just like how the media is making consumers believe they need to go directly to the listing agent. 

The bottom line is that letting perception become your reality can severely limit your opportunities. Don’t fall into that trap. There’s a big difference between perception and reality, and once you recognize that, your opportunities expand tremendously.