This blog is inspired by Randy Prothero's blog titled A good case for buyers agency agreements. Now I know there are some who insist on having these agreements pre-signed before they take up with any buyers, however if I did that in my market I would have no one to work with.
The buyers of Luzerne County are not someone who can easily be swayed into signing anything much less a contract that will make you the beneficiary of their house purchase commission.
That is the local mentality and it's the proverbial hard nut to crack. It's like handing someone a prenup, that says trust ME while I look out for ME. Can this be a self inflicting sabotage on your relationship?
I have learned that in my market folks need to be comfortable with their business relationship first before they sign anything. Once you have them comfortable their loyalty is pretty much guaranteed. I said pretty much. Yes there will be those that burn you, but had I held out a contract initially I would not have the successful relationships established.
There are a few things I have done to protect myself from those who are time wasters and Realtor hoppers. In Randy's case his client was lost to an Open House. Getting people to use my sign in sheet is a constant effort and unless they do, they WILL NOT VIEW THE PROPERTY. Believe it or not there have been some folks who have refused to sign in! I have bluntly told them, you are waisting both of our time, and off they went.
When I conduct my open house I have a Sign In Sheet that will ask specifically if you are working with an agent. If they have an agent, I will happily answer all their questions, show them the property, and tell them to HAVE THEIR AGENT CALL ME period.No other real estate questions are asked on my end, like are you prequalified, did you sign a broker agreement ect...
I was recently at a Rich Dad Poor Dad seminar, and through out the meeting the speaker would say The Early Bird Catches the Worm....
Web Site owners this means YOU! When I get a response to my web site I WAIST NO TIME. Call the number, e-mail back promptly, do not wait! I could guarantee that they have several other web site owners e-mailed and usually the one who responds first gets the deal.
This is how I know if they are jerking me around, when I ask how soon they would like to start viewing properties and they respond ASAP, I know I'm in the running...
My web site usually takes the worry of are they prequalified off my hands, and they typically have that information out of the way and have the prequalification in order, so I want to jump right in and show properties and build the relationship.
The Consumer Notice is the first paper they sign and that is with me reasuring them that it is NOT A CONTRACT.... I could tell by the body movements, the facial expressions, the down right soon to loose interest in you, if I persisit with a Buyer's Agency Agreement.
So for my Real Estate practice, I go by my gut instinct and know when to not loose a client. After a few visits in their company, I think it is a comfortable time to bring up the contract and know by now how well the two of us can work together.
Just my opinion, and experience from Luzerne County
By Diane Velikis The Luzerne County House Hunter
www.luzernecountyhousehunter.com
Comments (53)Subscribe to CommentsComment