Top Negotiator Ron Slater’s Real Estate Secrets and First-Time Homebuyer Advice

On this episode of The Closing Table, we sat down with Ron Slater!

To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…

Here’s what you missed from Ron Slater…

Ron began his career as a correction officer in Michigan, where he worked in Jackson, teaching anger management and cognitive behavioral classes to inmates. His journey into real estate began unexpectedly when he met Kim Dunham, a broker for Keller Williams, during an event. “I happened to sit next to the broker… we got to talking that night,” Ron recalls. This chance encounter sparked his interest in real estate, and for three years, Ron balanced both careers before ultimately deciding to pursue real estate full-time.

As a real estate agent, Ron is committed to maximizing his clients’ profits when listing their homes. On the buyer’s side, he focuses on negotiating the best possible deals for his clients. He often advises against waiting for interest rates to drop, emphasizing that while rates might decrease, home prices are likely to increase. “You’re gonna wait for that interest rate to come down; that price is going to be $10,000 more,” he explains.

Ron places a strong emphasis on educating young buyers about the real estate market. He believes in debunking common myths, such as the idea that one should wait for the perfect interest rate before buying a home. “You don’t marry the interest rate; you marry the house,” he advises. He also highlights the importance of understanding changes in buyer agreements and educating clients about commission offerings. “If you’re not offering commissions to buyers’ agents, you’re gambling,” Ron warns, noting that Michigan has been proactive in educating sellers on this aspect.

Ron is adamant about his responsibility to secure the highest possible return for his clients. He expresses frustration with the growing focus on commission negotiation at the expense of the contract itself. “There’s going to be too many people focused on the commission negotiation and not the contract,” he observes. He also underscores the necessity for buyers to sign a contract before he shows them a property, stressing the importance of moving forward carefully in the buying process.

Reflecting on his career, Ron finds the greatest reward in helping clients make money. He fondly recalls the phone calls he receives years later from clients thanking him for his guidance. “Those phone calls I get three years later, ‘I am so glad you talked my husband into buying this house,’ are incredibly rewarding,” he shares. However, Ron also acknowledges the challenges of the industry, from dealing with difficult transactions to encountering greed among clients. “I think I’ve met more criminals in real estate than I did working in the prison,” he remarks, noting that people’s greed has been his biggest “aha” moment in real estate.

The real estate industry is not without its challenges, particularly for younger, newer agents. Ron identifies the changing forms and widespread misinformation as significant hurdles. He makes it a point to coach new agents, reassuring them that while the market may be tough, the fundamentals remain the same. “Don’t wait around for the market to ease up because it’s not going to ease up,” he advises.

Despite facing health challenges, including open heart surgery, Ron has already surpassed his goals for the year. He credits his success to surrounding himself with the right people, emphasizing the importance of a positive support network. “It’s all about putting yourself around the right people,” he notes, adding that this mindset helps him and his colleagues stay motivated.

Ron highlights the critical role of video marketing and social media in today’s real estate landscape. “If you’re not in the marketing game when it comes to video, Instagram, Facebook, you’re irrelevant,” he states, pointing out that younger buyers, in particular, are drawn to social media platforms, which also help build credibility.

He also offers practical investment advice, encouraging listeners to invest in real estate rather than splurge on unnecessary purchases. “If you’ve got extra funds laying around, don’t go buy the truck you can’t afford. Go out and buy your neighbor’s house,” he suggests.

The discussion wraps up with reflections on the housing market, particularly the difference in housing prices over the years. Ron and Kat talk about how some people might look back and wonder why they didn’t invest in property sooner, acknowledging that financial circumstances were different back then. In closing, Ron’s journey from corrections to real estate illustrates his commitment to educating clients and navigating the complexities of the real estate market with integrity and dedication.

Check out Ron Slater:

https://www.facebook.com/livinggreaterlansing

https://www.instagram.com/livinggreaterlansing

https://www.facebook.com/ronald.slater.7547

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