I did something dumb. I am so convinced that I am a great agent...that I care about my clients and knock myself out for them that I took a 2-month listing contract. The sellers were a smart, attractive 30-something couple with a lovely house in a popular neighborhood that we listed for over $300,000 last fall. That is a tough price range and I had a hard time getting showings--even though I paid extra for a first rate virtual tour and lots of extra advertising. Finally, after a month, we got an offer. Long story short: the buyers finally walked after the sellers rejected my advice and refused to replace 3 windows for less than $1500 dollars--even though they were set to walk away with over $200,000! That was their dumb mistake and I really felt for them. I tried to be exceptionally kind. We went right back on the market with a week to go on my contract. The very last day of the contract, we had a successful showing. The agent called me that night and told both me and the sellers that she intended to bring an offer. Long story short: the couple dumped me for a young, enthusiastic new agent who had just sold a house down the street. When they told me I said, "You are hiring George? He has no experience." They said it did not matter. The young agent did not realize that what he should have done in that situation was take the listing contract but give me an exception so that I could work the deal that I had brought. To me, what he did was clear cut stealing--but he had no shame and continued to work my deal...until the appraisal came in! The house appraised for $20,000 what was needed. The inexperienced agent did not realize what my company teaches and always practices: Meet each and every appraiser and give them comps. The appraiser had failed to notice the most recent comp--a similar house on the same block built by the same builder! Does experience matter? With all due respect to enthusiastic new agents everywhere, experience matters a lot. With a good broker and the humility to ask for lots of advice, new agents can do as good a job as anybody. Bottom line though: Using an inexperienced agent can cost you.
Hi Zeta,
I understand your point and know that in sales, the straw that breaks the camel's back has to have grown over time. It is simply not placed there at the last minute.
Our job as sales people (as much as we are "agents" or "third parties" to a transaction") is to set the tone and relationship to secure our clients, keep them close to our side and maintain their confidence. While it is not always possible, it does help ward off the inexperienced and charletons out there.
As sales people, we are the professionals and like lawyers in court, our every move should be choreographed, controlled and rhetorical towards our clients.
No bad intent towards you in my comments, yours is a story we will all encounter repeatedly. It is comes with the territory.
Here in Quebec, you would have been protected for another 180 days following your contract expiry against another agent picking at the last offer you nurtured.
Zeta, It is sad that new agents see only dollar signs, not ethical considerations, I agree with all that you said. I have heard so much about the "new, techy agent who will take over my market because of his/her skills on the internet no matter how new", but experience and knowledge will do more for a buyer or seller than any high tech ability. Hopefully buyers and sellers understand that tech savvy is good , but you cannot be beat experienced professionals.
"To me, what he did was clear cut stealing--but he had no shame and continued to work my deal...until the appraisal came in!"
Huh. I agree that the agent's actions were unreasonable, but it sounds like you're almost gleeful that both he and your client had and unsuccessful outcome.
Thank you for your comments! Mr. Joseph in Quebec implied that I did not do enough to keep my client close--a logical inference. I suffered real pain here because I had so much contact and trouble from the high maintenance clients. The wife called me or emailed me at least once a day....bugging me to do things faster. She could not understand why she was not getting showings. The young/new agent kept dropping by their house--not ethical!! and criticizing how I was working. He convinced them that he could get more showings--which, believe me, as fall turns to winter, he absolutely could not. My company does a lot more advertising and does a majority of business in the area. That agent truly was either lying or completely delusional. The thing that I find so hard in this business is how crummy people treat you at times. I was counting on the sale in this deal when the greedy clients threw it away by ignoring my advice and refusing to make a $1500 concession. It took tons of control and genuine empathy on my part not to blame the sellers or even think: "I told you so." I summoned all my motherly compassion and truly sympathized with their regret. And then they turned around and dumped me the day I delivered a 2nd buyer!!! They were misinformed by the new agent that when they signed with him, I could not continue the deal. But how can they sleep at night, knowing how hard I worked for them....how much money and time I had put into their deal...acknowledging that I brought not only the 1st buyer, but also the 2nd buyer...and then proceed knowing that the new agent would get all the money? The pain of the betrayal hurts even more than the money. And believe me, I needed that sale. People are what make this business wonderful and interesting...but there are mean, cheap people out there every once in a while who think it is all a game and that agents don't really work and that it is fine to turn around and buy a FSBO behind their backs even when they have showed you 25 houses. This business can be fabulous. I honestly love it! But it can really hurt too!
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