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Confidence Is NOT Enough

 

Some time ago I wrote Giving Advice With Confidence. If you have a minute, please read.

 

When  giving and taking advice from someone... make sure they are the expert, trained and knowledgeable in the area you are seeking advice. Make sure they possess...

 competence

 

 

 

Some time ago,  I had a very "confident" buyer's agent who said everything with assertiveness and authority.

 

As a seasoned REALTOR®, I heard "truth impaired" statements,  found errors in the offer and watched how the buyer was being "misled".  

 

Here are two examples.

1. When I questioned that the EMD had not been deposited. I was told this is only  done  when loan was approved. We did not proceed until we had confirmation of the deposit.

2. A bacteria test was ordered on the septic system. (Since when do you need to see if there are germs on poop?)

 

 

Toward the later part of the (failed)  transaction, I asked

"Is this going to closing?"

With confidence the answer:

"Yes, of course!" 

 

confidence

 

I asked why are you so sure?

And this was the loud response:

"Because I need it to close, I need the money!"

  Oops..that is the wrong answer!

 

Be very careful and make sure you have done the research and have credentials on the "professionals" you have chosen to work with.

Confidence is not enough. 

 

 

Margaret Rome

 

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Comment balloon 46 commentsMargaret Rome, Baltimore Maryland • January 05 2018 07:16PM

Comments

Margaret spot on - confidence it not enough. Competence is what brings the cows home (insert your own phrase)! I am pleased to say I just closed a transaction with a newer agent that was fantastic. If I were still hiring agents I'd want her on my team for sure.  She was professional and competent from beginning to end. And that doesn't happen often these days....

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) 9 months ago

Wow, Margaret! That last statement by that buyer's agent would send me running for the hills! Money should NOT be the primary motivator for a realtor. That is very shallow-minded and I sure wouldn't want to do business with anyone who feels that's their first concern.

Posted by Gayle Rich-Boxman Fishhawk Lake Real Estate, "Your Local Expert!" 503-755-2905 (John L Scott Market Center) 9 months ago

 

Anna Banana Kruchten CRS,CRB Good to hear that you had a good experience with a newer agent. Stay in touch with her...she would be lucky to work with you!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Gayle Rich-Boxman Fishhawk Lake Real Estate I did run. I ran to the broker and the lender and everything you said is correct!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

This reminds me of when people who I don't know say in good faith: Trust me

Posted by Richie Alan Naggar, agent & author (people first...then business Ran Right Realty ) 9 months ago

Richie Alan Naggar or when they ask if they can be truthful and I say no just lie like you used to.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Good evening Margaret Rome, Baltimore Maryland ,

Oh..this is so true. Make sure when you are receiving advice it is from a competent source. This agent who revealed money was his motivation would send me into orbit. Good for you for going to the lender and the broker. This agent needs to be called on the carpet.

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) 9 months ago

Dorie Dillard It was such an unbelievable lack of knowledge and there was no one who took responsibilty fot this agent. 

Always good to see you!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Confidence is not enough, it also needs to be married to knowledge.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 9 months ago

That's a good one.  A bacteria test for a septic tank.  How did he even come up with something like that?

I usually pull up the sales stats for any buyer's agent who submits an offer.  I like to know what kind of experience they have so I can be on guard for things that don't seem right.

Posted by Tim Maitski, Truth, Excellence and a Good Deal (Atlanta Communities Real Estate Brokerage) 9 months ago

Well said William Feela 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Tim Maitski ALways good to know who you are working with and how they work to be prepared. 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Thanks Margaret. Knowledge is key!

Posted by Paul McFadden, Pest Control, Seattle, WA. (Paratex) 9 months ago

Confidence without competence is a recipe for disaster. Sorry to hear you were faced with trying to work with someone like that.

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) 9 months ago

Paul McFadden Always good to see you.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Lottie Kendall I think we have all faced this kind of situation. It makes us really appreciate the  true professionals

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Margaret Rome, Baltimore Maryland 
Great reminder - confidence based on COMPETENCE is the key. Isn't unfounded confidence just called bluffing? All the best - Lynn

Posted by Lynn B. Friedman, Concierge Service for Our Atlanta Sellers & Buyers (Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...) 9 months ago

This post brought back to memory a certain transaction I had several years ago.  The agent on the other side had one of those authoritarian voices that fired off misinformation like a rapid firing assault weapon.  

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 9 months ago

CONGRATULATIONS Margaret, on having this blog FEATURED in the Old Farts Club group!    

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 9 months ago

Competence is great and professional all way around on what one does.

Confidence is self assurance.  

Posted by Sam Shueh, mba, cdpe, reopro, pe ( (408) 425-1601) 9 months ago

Lynn B. Friedman   You are right about...unfounded confidence is just called bluffing

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Myrl Jeffcoat What a great descripton  "....authoritarian voices that fired off misinformation like a rapid firing assault weapon. " 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Sam Shueh It is always good to see you. 

Good comment.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Margaret

Well sometimes, as we know, what appears to be confidence may actually be an attempt to mask incompetence and lack of knowledge.

Have a wonderful weekend!

Jeff

Posted by Jeff Dowler, CRS, The Southern California Relocation Dude (Solutions Real Estate ) 9 months ago

Knowledge brings confidence and experience brings competence and being fearless is the sum of knowledge and experience and that IMO defines a professional, a person who is compensated for his/her services. 

The challenge, however, is determining the virtue of the professional, hence, securing referrals from trusted sources is extremely helpful in selecting a professional other than conducting an extensive interview or due diligence about your choice of providers. 

Posted by Kimo Jarrett, Pro Lifestyle Solutions (WikiWiki Realty) 9 months ago

Inept is inept. No amount of confidence can cover it up. It amazes me how  many agents are out there representing people with little knowledge or experience to back it up. It's actually quite sad. I'm always astounded how some people can put forth such bravado with so little substance behind it. 

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) 9 months ago

Funny how sometimes the people with the most confidence have the least amount of factual information! Not at all funny for the people paying the price for such ignorance and deception though.

Congratulations on a well deserved feature, Margaret!

Posted by Sharon Tara, New Hampshire Home Stager (Sharon Tara Transformations) 9 months ago

Thanks Margaret for highlighting an important point.

I have seen too many people in different areas of real estate that are full of confidence but lack in competence.

The consumer needs to look for competence when selecting those who they will work with.

Posted by John Wiley, Lee County, FL Real Estate GRI, SRES,GREEN,PSA (Right Move Real Estate Group- EXP Realty) 9 months ago

I agree with you..however with inspectors it can be difficult. I've had an inspector say one thing...then have the same issue examined by (for example) a plumber who says something totally different!

Posted by Mary Hutchison, SRES, ABR, Experience Agent in Kansas City Metro area (Better Homes and Gardens Real Estate-Kansas City Homes) 9 months ago

Jeff Dowler So true ..

''what appears to be confidence may actually be an attempt to mask incompetence and lack of knowledge.''

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Kimo Jarrett Good comment

''determining the virtue of the professional, hence, securing referrals from trusted sources is extremely helpful ''

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Debb Janes EcoBroker and Bernie Stea JD  No amount of confidence can cover it up after the initial few encounters.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Sharon Tara Funny for writing a blog or telling a story but definitely not fun going through the experience and not funny for the buyer. Always so good to see you.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

John Wiley There are many consumers that are "blinded" by the confidence and do not know better!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Mary Hutchison, SRES, ABR There are times we, the professionals, need to find the right second opinion. Another example of being educated and competent.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Thanks Margaret. Have a great day!

Posted by Paul McFadden, Pest Control, Seattle, WA. (Paratex) 9 months ago

Confidence should not be confused with competence.  However, the latter does help the former tremendously.

Posted by Chris Ann Cleland, Associate Broker, Bristow, VA (Long and Foster REALTORS®, Gainesville, VA) 9 months ago

I have heard the comment before about the earnest money and more than once.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 9 months ago

Chris Ann Cleland Oh boy, don't confuse the two.

 

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Joe Pryor That's why I called to see proof that the EMD was deposited...it was not!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Bacteria on poop - haha.

Yes, confidence and competence are very different traits. The latter is necessary in getting things done properly.

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com) 9 months ago

Like poker, bluffing when you act like you know or thinking you really do. But what was gospel in 1980 may need a little freshening to bring it up to speed and to apply best in 2018! Happy new year Margaret Rome, Baltimore Maryland ! Confidence is part of the spin, bullying too... to push an agenda with fake news. Or the lack of researched, check your sources kind.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) 9 months ago

Kat Palmiotti It was funny but only in retrospect. It was a bit scary because they were so sure about wanting this test!

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Andrew Mooers You might want to read Real Estate is a bit like poker.

All the best for a great new year.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

Wow. What a waste of everyone’s time energy and money. Sounds like that agent needs a big redirect (attitude, training, morals...).

Posted by M.C. Dwyer, Santa Cruz Mountains Property Specialist (Century 21 Showcase REALTORs) 9 months ago

M.C. Dwyer Maybe a redirect to a different profession. Thanks for stopping by.

Posted by Margaret Rome, Baltimore Maryland, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 9 months ago

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