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A New Decade, New Priorities? A soapbox-y rant

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Education & Training with Sell with Soul

I read a featured blog the other day written by an agent who was regretting not insisting on a buyer agency agreement and was subsequently ditched by the buyers she was working with. She was disappointed, and in her blog, reconfirmed her commitment to always get that agreement in place before investing much time in a new buyer client.

Fair enough. I disagree with the agent's conclusion that the solution to being ditched by a buyer is a written contract, but that's okay. To each his own.

But one of the many comments on the blog caught my eye. It was something about how now that we're in a new decade; it's a perfect time to set new priorities. In this case, the commenter meant that he or she intended to be even more committed to getting those agreements signed before working "for free."

Again, fair enough.

But it occurs to me (yep, here comes a soapbox) that it would do us and our industry far more good if we set our priorities a little higher. If we set them based on what the customer wants and needs, rather than on what we want and need. Don't get me wrong, I'm all about looking out for #1, but when you put your customers first, my experience has been that Your Favorite Real Estate Agent benefits right alongside!

So... how about instead of making it a higher priority to be more diligent about contractually obligating your buyers to you... you commit to making yourself indispensable to your buyers so that no contract is necessary?

How about instead of making it a higher priority to more efficiently beat the streets looking for more and more and more and more listings... you commit to figuring out how to sell the listings you already have?

If we shift our industry's priorities away from the face in the mirror and focus them on the consumer we're licensed, hired and well-paid to serve, I promise you we'll all benefit. Our buyers will buy and our listings will sell, so we'll attend more closings and see more repeats & referrals.

It really might be that simple!

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Comments (39)

Bill Jones
Discovery Real Estate Ltd. - "Homes By Jones" - Airdrie, AB
Realtor (403-701-1739) Airdrie & Calgary Area Homes and Condos

Gotta love our business model of working for Free.  Great service is certainly a mandate to any business that wants to stay in business.  We are in a people business and should pack up our bags and go work for a non-service business if we don't care enough or don't intend on providing great service.  On the other hand why should we have a commitment to our prospect buyers without them providing us with some kind of loyalty.  It's not always that you didn't provide great service to a prospect buyer that you lose them.  Sometimes and it's happened to me that there is a relative or friend thats waiting in the wings who is a real estate agent.  However, they don't want to bother them by dragging them out on evenings and weekends narrowing down their choices, but as soon as they narrow it down it's off to the buddy to write the offer.  Now, where I am we no longer have threshold rights , it's he who writes the offer wins, not he who showed it to the prospect first.  

So in summation, without a buyers brokerage agreement we can work all the Free hours we like with no guarantee that our great service will reward us with a paycheck.  BTW , I don't use a buyers brokerage contract here, as potential buyers would just use the Agent next door that doesn't use them since they are not mandated in Canada.    

Bill 

Feb 08, 2010 02:40 AM
Bob Edwards
Coldwell Banker- The Real Estate Group, Inc. - Appleton, WI
Fox Cities Real Estate Hotline, SFR- Appleton, WI

As usual Jennifer hits the nail on the head and in doing so, I never need to use the agency contract to "lock them in".

Feb 08, 2010 03:19 AM
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

Bob - Good for you! It's just NOT what the contract is for!

Bill- thanks for your thoughts! I must disagree that we "work for free" and you may have inspired a follow-up to this blog.

Sharon - Here's the thing - by making it "all about them" you DO make it all about you - in that - you've just done everything you could do to ensure a happy client who leads you to a closing (or two or three!)

Robert - Yes! And you know what... if you keep losing "the game" - that is - if you keep losing clients over and over... maybe your gameplan needs some tweaking!

Katerina - That attitude ("how could I have done better?") is sorely missing in our industry. So many people just want to point fingers and call other people names.

Bill - You GO! 

Lori - Y'know, when people want to use that approach, you aren't going to talk them out of it, you'll just chase them away. Which guarantees that you'll never see a closing with them!

Mike- Thanks for the re-blog. I appreciate your comments. And I'm not philosophically opposed to buyer agency - except when it's used to tie down consumers who don't want to be tied down quite yet!

 

Feb 08, 2010 03:47 AM
Clark Hitchcock
Re/Max Nyda Realty Inc - Chilliwack, BC
Realtor - Fraser Valley

Thanks for the thoughts, I have been back and forth a lot on this lately, researching how then thinking about why, if i do a great job then there should not be a problem. I am doing a buyers seminar on Thursday this week not many signed up but for those that are there I was thinking of talking about it but have now decided that the buyers really want to know more about the process of buying not how a realtor wants to tie them up.

 

Feb 08, 2010 04:37 AM
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

Clark - Frankly, if I were going to do a buyer's seminar, I might be tempted to lead with "I don't require buyer agency!" So many buyers have been turned off by our focus on tying them down... it might be a much better loyalty-building strategy to do the opposite!

Chris & Stephanie - Very well said!!!

Leah - Now, that's the appropriate time!

Sally - Can't imagine going after someone who "abandons" me. Obviously they had a reason to do so and maybe I'd rather NOT know what it was! My feelings are easily hurt...

 

Feb 08, 2010 05:33 AM
Chuck Capan
REMAX River Cities - Moline, IL
REALTOR Licensed In IL. - Moline Homes Quad Citie

<<How about instead of making it a higher priority to more efficiently beat the streets looking for more and more and more and more listings... you commit to figuring out how to sell the listings you already have?>>

 

OUCH!

Feb 08, 2010 06:10 AM
Jill Schmidt
Aurora, CO

Jennifer,  The focus should be on the buyer's needs and informing them as to the market and rules and ...

Feb 08, 2010 06:21 AM
Ken Tracy
Coldwell Banker Residential - Naperville, IL
Helping clients buy and sell since 2005

Hi Jennifer.  Way to go.

Never used a buyer's agency agreement.  Never plan to.

Thanks for writing,

Ken

Feb 08, 2010 06:47 AM
Tanya Nouwens
Immeubles Deakin Realty - Montreal West Island, QC
Montreal Real Estate Broker & Stager

Oh now that monkey comment from Leslie (#8) is very interesting...and it may have to be this week's mantra!  Thanks for stirring the pot again, Jennifer : ) -- Tanya in Montreal

Feb 08, 2010 07:32 AM
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Jennifer, My opinion is that the agents that are good at getting a BBA signed are the ones that need them the least. That's because you have to be able to build trust in order to get the darn thing signed to begin with. So......maybe agents just need to work on building trust. Then of course they need to be trustworthy. Which means being able to perform. But what the heck do I know.

Feb 08, 2010 08:15 AM
Linda Jandura
Raleigh Cary Realty - Apex, NC
Realtor, North Carolina Buyer & Seller Specialist

AMEN! I so agree with you.  When I was with a team, we had a few buyers leave us, but now that I'm on my own, I can see why. The other team member was thinking more about himself and the quick sale than he was the buyer.  Loyalty has to be earned, not signed for!

Feb 08, 2010 10:02 AM
June Piper-Brandon
Coldwell Banker Realty - Columbia, MD
Creating Generational Wealth Through Homeownership

If agents paid more attention to the needs and wants of their clients perhaps they would be more highly regarded than used car salesmen!!  And, the buyer's agency agreement wouldn't be such a big deal. 

Feb 08, 2010 11:34 AM
June Piper-Brandon
Coldwell Banker Realty - Columbia, MD
Creating Generational Wealth Through Homeownership

If agents paid more attention to the needs and wants of their clients perhaps they would be more highly regarded than used car salesmen!!  And, the buyer's agency agreement wouldn't be such a big deal. 

Feb 08, 2010 11:34 AM
Lisa Schmitt
Coldwell Banker Honig-Bell - Plainfield, IL

Begining this year, my company is requiring a BAA for each buyer client! Apparently IL requires it.

Feb 08, 2010 12:37 PM
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

I guess I need to make that decision with each client some I might require a written agreement and others just a hand shake will do .

Feb 08, 2010 01:20 PM
Bob Dunn
Sutton Group West Coast Realty - Abbotsford, BC

Because I'm old school I haven't had much faith in buyer's agreements. What good is a buyer's agreement when they hate dealing with me. I make my mind up quickly if I was to invest my time with someone and if there are someone that will respond to my support.

Feb 08, 2010 03:36 PM
David Dee
RMX REALTY - Alhambra, CA
Real Estate - San Gabriel Valley (L.A.) & N. Orang

From the desk of David Dee,

Jennifer, I think having the BBA signed may be a good thing in some instances. You just never know when they go bunny hopping to the yard down yonder.

Feb 08, 2010 06:34 PM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

The BBA is in my file only because my company requires it.  I usually have the buyer sign it after their offer is accepted.  My clients work with me by choice--mutual trust is needed.  If they are not happy, I'm not happy and it's time to part--no contract needed.

Feb 09, 2010 12:24 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Great rant but the problem we have here are the buyers are so not very obligated and we have had some that treat us as just people "who show" and are already bound to another lazy agent who won't show (they just tell them how to work the "system.")  I live in a pretty cut throat town ;)

Feb 10, 2010 12:01 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I so agree with you Jennifer, whatever we set our eye on is as high as we will arrive.  That is where we are going!

Feb 10, 2010 12:41 PM