Working with buyers is enjoyable and more often than not, challenging.  First, of course, you secure the buyer either through a referral, open house or phone call into the office or the many other avenues savvy agents use to get out there and meet prospects.

Then you build rapport. But then you also have to build trust.  Your customer has to fully believe that you are putting their needs and concerns before your own.  Your customer also has to trust that you know your market inside and out.  Is the asking price reasonable?  Could there be some room for negotiation?  How much room?  Where should my offer start and what's the lowest I should expect to pay for that home?  What are home values in that town and where are they going in that specific market?

Switching gears here, who would argue that contacts from potential customers are great?  The excitement I feel when I get an email from a possible new customer that comes driectly into my website is not too short of thrilling and never gets old.  But I've learned not to take a lead at face value and ask the questions that will save me time and aggravation.

Yes, leads that come directly into my website are fantastic!  But leads that are actually customers of another agent are, well...not so fantastic and a downright embarrassment overall.  Let me go into what prompted me to write this post in the first place.

On Sunday afternoon, I received notification from my website that a potential customer had contacted me on A LISTING...not MY LISTING, but another agent's.  I've changed the property address and other pertinent info for obvious reasons.  Reading the message, it stated...

Comment, Questions, Information Requested:
What should one offer for 99 Lovely Drive, Mountain Lake, NJ  07046?

Straightforward question which raises a suspicion or two in my mind, so I reply...

Dear Buyer,

Many thanks for your inquiry.  The best way to determine a prudent offer for any property is by having your Realtor conduct a comparative market analysis.  Are you currently working with an agent?  Have you been shown the townhome?

If you've not seen the listing yet, I would be happy to schedule an appointment to show it to you.  At that point, we can get acquainted and review past sales of comparative units in this development.

Also, if you haven't done so already, it would be wise to obtain a pre-approval from a mortgage broker or bank.  This costs nothing for you and will save you a great deal of time and aggravation, especially in the contentious lending environment we're currently experiencing.

I look forward to your response.  Feel free to contact me on my cell if you'd like to discuss in depth.  My number is 201.240.8699.

Not an hour goes by, when I receive a response from my new prospect.  Reading through it gave me a renewed sense of gratitude for learning to ask the right questions and also a rush of embarrassment for the buyer's current agent!

Dear Antoinette,

I appreciate your prompt reply and I'm currently working with an  agent. Since I found that you had sold couple of properties in Mt. Lakes, I thought of seeking your opinion. If you can give your inputs/some useful data, I would appreciate. Shall you bound not to share, I  regret inconvenience.

Best regards,
Buyer

This is where I have signficant challenges.  Although the buyer has an agent, who has probably shown them a number of homes, the agent has failed to instill a level of confidence in the buyer that they know their market.  Additionally, the agent hasn't educated the buyer regarding the amount of work involved in amassing said level of knowledge or putting together a comparative market analysis.  The buyer stated in their own words that they would appreciate my "sharing" information.  Information that is out there in our Multiple Listing Service and open to research and reasonable interpretation by any agent working that market.   I suppose I should have gone further to convert this lead into MY customer, but I didn't. 

What I did do is respond to the prospect with this...

Not a problem. Good luck to you!

Some of you agents might argue that I let the event drop too quickly and that I should have made an attempt to convert the lead.  A consumer might state that I should share my expertise.  Perhaps if the prospect had called me, the conversation would have lead around to that.  But the question remains...why is YOUR customer calling me to do YOUR JOB?  Are you not available enough to answer their questions?  Is there a possibility that a buyer you're currently working with could send out an email or place a call asking another agent's advice?  What are you doing to ensure they're not? 

The public doesn't always understand the scope of our job and the work involved in getting a buyer into an appropriate home at a price that makes sense for them and the current market, and if we don't relay the importance of our role in buying a home, it's our fault. 

Consumers should understand that we are experts in our field because:

• We know the inventory and have actually been in the properties so that we can make educated comparisons.
• We watch sales and listings in our marketplace with hawk-like intensity.
• We've negotiated many a deal and have developed a sense for what works...and just as importantly, what doesn't.
• We've invested years in developing our ability to assist a consumer in making the best choice for them.

It should also be conveyed that the education real estate agents have afforded themselves is available to the buying public, but at a price.  And that price is either a BUYER'S AGREEMENT or THE BUYER'S LOYALTY.  Real estate is not a volunteer industry.  Just like anyone else, when I expend the effort for a client, I expect to be paid. 

Educate your buyers! Otherwise, next time they contact me, I just might ask the right questions that get them working with me instead!

"Antoinette" Scognamiglio (licensed as Maria), Sales Associate, Prudential New Jersey Properties.  Morristown Regional  Office.  Cell:  201-240-8699.  Email:  ascognamiglio@njrealestate.com. 

Are you considering purchasing a home in Morris County?  I specialize in the Morris County, New Jersey marketplace, with expertise in Lakefront property (especially Lake Hopatcong).  Certified as a relocation specialist, I take exceptional care in assisting my clients in finding their new home and community. 

Please visit my website to learn more about my philosophy in conducting real estate business and to access the resources I offer to buyers and sellers.  My credo is..."The title of REALTOR® should be held with great care or not held at all."  Put your real estate transaction in careful hands.