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18 Comments on Buyers Agents - Don't Waste Your Time, Your Clients or the Sellers
Mmmmm. This one will probably be in the market for a while.
Good post. Why do buyer agents waste their time?
Follow me on Twitter: http://twitter.com/roykelley
Lenn are you saying that because of me being honest about my suggestions? I am really trying NOT to offend but do your homework up front is all I'm saying.
Or is your comment, because of my floorplan - 3 bedrooms? It has 2 offices in basement w/closets & 1 X 3 windows that by law you can't count. Plus over 1000 sq ft of open workshop space that could easly be converted. But these buyers want to find the "perfect" house and not have to remodel. So.... but the floorplans were online.
But I also have Sellers who complain often about the feedback they get, asking me why the agents bring them to their house if it's 200K out of their price range, etc. I am just asking why do buyer's agents do a little more homework up front. Even call and feel out the sellers' agent a little first. I'd be more ok with that than scheduling a showing that they know is not gonna work and inconveniencing the sellers.
Like I said, this agent was nice. Real nice. And I am glad that she saw it. So for that part, ok, maybe not a waste of my time. But overall, I see this happen a lot, with a lot my listings. I know it's part of the norm, but if we all did a bit more upfront, I think the general public would be a lot happier with agents overall. This might be part of the reason why we fall so low in the opinion polls, no?
Would love your additional insight Lenn.
I cant imagine running buyers around in today's market that aren't pre qualified. Sounds like too many slips on this agents part.
Clarification Laura. This agent did NOT make ALL of these mistakes. I said she mad mistake # 3 . But the list includes a lot of mistakes I see Buyers Agents doing on a regular basis.
But that is the most common one I hear about. Esp when they present an offer (w/o lending in place), and waste even more time, when they find out they can't even get pre-qualified. That always amazes me....
"made"... (wish we could go back and edit our comments..... LOL).
I have heard the saying "all buyers are liars" --- they say they want one type of home and buy another --- maybe they thought they could find more space for bedrooms! Good Luck!
Lori - Take a deep breath and exhale. Their will be many tire kickers before the right buyer comes along. 17 acres is alot of room for kids to run in , that may have been the feature that attracted them to your home.
Buyers agents have to show homes the buyers want to see. Sometimes buyers see many homes before they realize what they want to buy. It can be an inconvenience to sellers but sometimes buyers end up buying something that they had not expected to buy when they first started looking.
I do agree about showing homes that they qualify to buy.
As an off the market seller, I'd just like give you a big Thank you for this post. I'm off primarily because I couldn't take the lookie loos with good manners any longer. That homefeed back is awful. There are agents around here I'd never let in my house based on comments they posted about other homes on a local Frankly realtor list.
Lori, good luck selling your home/ranch. But, this post sure sound like what a lot of my sellers complain about.
One was absolutely livid about a rude agent and buyer that took 5 minutes to go through their home. The story was different when they submitted a cash offer the next day.
Lori, First, it is good that you have buyers looking and second it will be better when you have a buyer who buys. It is a simple 2 step process only step one can take a longer time... good luck.
I know you know the drill. Seems LIke Rules often don't apply to buyers, at least most of them I have meet don't think so...
In re-reading Lenn's post after 2 cups of coffee, I now see she said "in the market," so presuming she was referring to the buyers! Sorry Lenn.
Anyway, I know what I am going thru now as a Seller is "common" and part of "the process." However, don't you think we could greatly improve our reputation if we did a little more homework at first?
Gita: Usually most buyers agents are given parameters such as # of bdrms, price range, etc. So I don't know that the buyers requested to see my home as much as the agent might have wanted to see it. I dunno...
Laura, that may have been it. But then the agent told me their #1 priority was the bedrooms, so....
Norma, there is more space in the secondary structure, and the farm does have another perk site. But not in primary residence. Suggested this to BA, and to look at "Man Barn," but they did not even stop to look at it. Already has 1600 + square feet (includ. Kitch & Full Bath and 1/2) finished with potential for another 1000 more. Not to mention that my soon to be ex (who is a general contractor), would be thrilled to have a part time job finishing it off for them... :-)
But I have another listing that is NOT a short sale or foreclosure in a hard hit neighborhood, and everybody seems to inconvience them for showings, and then sends us feedback that they will only consider the "deals" or "foreclosures." It's clear in the MLS that this is NOT the case with their particular home. I think this is terribly rude for them to have to endure this incovenience over and over.
But if this post even makes 1 or 2 agents think a little more before inconveniencing a seller, well then this post was well worth it.
More. . . .
The #1 barrier to sale is over priced properties.
The #2 barrier to sale is lack of accessibility.
Let them in. The more people that see a property, the more likely that one is going to buy it.
The more agents that see a property the better the likelihood that one will bring the suitible buyer.
Listing agents hold broker opens to show off a property but object when an agent wants to show or preview unless they are showing to a likely buyer.
I agree that agents shouldn't be touring unqualified buyers. However, give the agents trying to show the benefit of the doubt that they don't want to cart around unqualified buyers. Our time is valuable too.
Unique properties are hard enough to sell. Don't exclude prospects or someone who may know a prospect or an agent that may meet the perfect buyer next week.
That's my theory and I'm sticking to it.
Ok... Maybe I was right the first time Lenn. But I appreciate your feedback.
#1 - This property is not overpriced.
17.64 acres, 4700 sq ft of HEATED living space. 1100 more Unheated. 4 carports, Barn, pastures,Run-in shed. 2 Story Tree house w/ electric (heck some people would call IT a guest house). $949,900 and within 20 minutes of Charlotte city limits. So... I am following the rules by not calling those "offices" - "bedrooms." But the floorplans were clearly on MLS and in the Virtual Tour. Accessible to agents and clients alike.
#2 - I let them see it. And my theory is "I" don't know what "they" are thinking. BUT the BA SHOULD know. If they absolutely say they have to have 5 bedrooms then...
I certainly won't turn down a showing in this market. But it is frustrating to sellers and their agents alike when you see time wasted and BA's not doing their job correctly. And some of them are down right rude too (as you can see in other's posts). I am grateful at least, I had a pleasant experience with the agent, who was very nice. So I am hoping that perhaps this showing wasn't in total vain, if she keeps it in mind for someone else.
I will be patient and give it time. It's early in the game for my own home. And I know I am not alone. I see it happen all the time. But I wonder what those same Buyers Agents would think if the shoe was on their foot? Hmmmm....
Ok... Maybe I was right the first time Lenn. But I appreciate your feedback.
#1 - This property is not overpriced.
17.64 acres, 4700 sq ft of HEATED living space. 1100 more Unheated. 4 carports, Barn, pastures,Run-in shed. 2 Story Tree house w/ electric (heck some people would call IT a guest house). $949,900 and within 20 minutes of Charlotte city limits. So... I am following the rules by not calling those "offices" - "bedrooms." But the floorplans were clearly on MLS and in the Virtual Tour. Accessible to agents and clients alike.
#2 - I let them see it. And my theory is "I" don't know what "they" are thinking. BUT the BA SHOULD know. If they absolutely say they have to have 5 bedrooms then...
I certainly won't turn down a showing in this market. But it is frustrating to sellers and their agents alike when you see time wasted and BA's not doing their job correctly. And some of them are down right rude too (as you can see in other's posts). I am grateful at least, I had a pleasant experience with the agent, who was very nice. So I am hoping that perhaps this showing wasn't in total vain, if she keeps it in mind for someone else.
I will be patient and give it time. It's early in the game for my own home. And I know I am not alone. I see it happen all the time. But I wonder what those same Buyers Agents would think if the shoe was on their foot? Hmmmm....
Lori, you're right that a lot of buyers agents don't do their homework. However, I have seen buyers go see a house that was not even close to what they said they wanted and ended up falling in love and buying. So, from that perspective, IF the buyers are qualified, that is the key, than I have no hesitation on showing a property even if it doesn't totally fit their parameters. Please don't take this the wrong way, but it seems like perhaps you are getting a little emotional about this because it is your house, which is totally understandable. It sounds lovely and hopefully it will sell sooner rather than later but as you should know from being an experienced agent, it is a stressful process and only 1 person will buy it, so all of the rest will walk through and pass for another home. We wish you the best in your efforts to sell.
No not emotional. The VAST majority of homes I've sold have been my own. New constructions... Have sold hundreds of them. I understand what you are saying, and have seen that happen. But I am experienced agent and am seeing the trend getting worse and not better, with BA's who seem to be desperate for a live body in their car, and not necessarily a "real buyer." Or a BA who is willing to "tour" for months on end without setting guidelines for their buyers. I don't get it...
But as Lenn also said, some seller's need to get real on pricing too. And I consider that time and money wasted too, when agents list properties that are not sellable. Maybe another post on that in the future. ;-)
Honestly I am probably more frustrated for my friend right now who had 2 drive-by showings that she allowed in only ro get rude feedback yesterday. Now that does tick me off. Very unprofessional, and reflects poorly on our industry as a whole.
Like I said, I don't consider my showing in vain yesterday, but hers... I dunno. But the source of my frustration is certainly not on 1 showing on my personal home, but something I've observed over and over across the years.
Thanks for the best wishes though! I appreciate it! :-)