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Buyers remorse that I couldn’t cure made me drop a client today

By
Real Estate Agent with eXp Realty LLC 200311024

 

Well, first of all, I'm not sure it was completely buyer's remorse. I believe the true problem is that what the husband wants, and what the wife wants, are two very different things, and what the wife wants is about $300,000 out of their price range!

I've been showing this couple homes for about 3 months, found 2 homes that met the criteria that they sent me originally, 3 bed / 2 bath, payments, and even in the right neighborhoods. They wrote an offer on one of them and then before the seller even had time to accept, 22 hours later, they backed out. (Even after buyer's remorse pills - May need something stronger!)

At this point they completely change their criteria of what they are looking for in a home. I'm told them that to get that, they would have to spend $1500 more a month than they want to! Well, I found it! I even negotiated that, with a large enough earnest money/option fee, they could keep the payments where my clients wanted for two years. My clients again wrote an offer. Then during the counter offers, decided that they changed their minds yet again, and wanted to pull the offer.

At this point, I advised them that I couldn't be spinning my wheels, and that twice I have found them the homes that they described and liked enough for them to write offers. I even did the impossible and found them a home $300,000 out of their price range with payments they wanted. I said I would love to continue helping you, but I'm going to have to charge you a transaction fee from now on. I can't keep doing this, as it is wasting my time and energy repeating the same steps, and I can't work for free.

They said they would think about it, but I'm guessing I've dropped a client today. But, sometimes for your own sanity you just have too!

Comments(19)

Steven Simmons and Marti Schmidt
John L Scott Ocean Shores - Ocean Shores, WA
Ocean Shores Real Estate www.theoceaniscalling.com

Your sanity is worth way more than any paycheck.  If they are serious, they will be back.  Hopefully after they have had a lengthy conversation between themselves so as to figure out what they truly want in a home. 

Good Luck!

 

Steven Simmons & Marti Schmidt, Realtors, Prudential GHP, beautiful Ocean Shores, WA.

The Ocean is calling...answer the call!!

Oct 07, 2007 12:49 PM
Maria Couto
RE/MAX Premier - Berkeley Heights, NJ
Realtor with "Results That "MOVE" You'

I know Todd it can be extremely frustrating.I'm not able to do it. The farthest I've ever gone is not stay in touch after a transaction. (This may explain why my children think I'm insane.) I'll have to work on a backbone.

Oct 07, 2007 12:52 PM
New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor
RE/MAX Properties Unlimited, Real Estate - Morristown, NJ
I think you did the right thing,  You need to bend over backwards for buyers these days, but not contort your body into a pretzel.
Oct 07, 2007 12:52 PM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group
Hey Todd, Imagine for a minute these buyers spending this much time with Doctors, Lawyers, Accountants, even architects. We are one of the few fields of "professionals" that does not give any value to out time and effort until the very last second. This allows customers to just disrespect our time, because we make it so easy to do so. Until a system is in place to make the customers be willing to pay for what we do during the process, we will have to get used to this treatment. I can only suggest turning these kinds of buyers over to another person in your office for a referral. Keep your sanity, and promise to work only with those who respect your skills..............Mike Norvell Sr
Oct 07, 2007 01:26 PM
Linda Scanlan
A Fan of AR - Burleson, TX
Todd...those darn time stealers! You're better to go without them. Some people will just stick the straw in and suck all the life out of you if you let them.
Oct 07, 2007 01:31 PM
Andy Werner, Jr.
RE/MAX Realty Group - Gaithersburg, MD
Real Estate, Gaithersburg, MD,

Todd - I recently fired a seller. It was quite liberating actually. We don't need people that suck all our energy away. Good for you.

Andy

Oct 07, 2007 01:36 PM
Jennifer Monroe
Indigo Home Team powered by Compass - Charlotte, NC
Real Estate REALTOR®/Broker/Designer

Hey my friend, you did EXACTLY the right thing. I sometimes suffer from being a little 'too nice' to clients who really deserve to be on a local blacklist. Hey! Maybe we should start one?!? 

You are worth way too much to be spending time away from your wife and children with people who need to be spending their 'together' time in a therapist's office.  

Oct 07, 2007 01:37 PM
Diane Bell, Hilton Head Real Estate, Bluffton
Charter 1 Real Estate, Hilton Head, Bluffton, SC - Hilton Head Island, SC
That's okay--your well-being is much more important.  Spend your time on serious buyers.
Oct 07, 2007 01:38 PM
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

Todd, it sounds like the 2nd home (with the lower payments for 2 years) was being purchased on an ARM.  Perhaps that is what scared them off from it?  I know it would for me!

I use the "3 strike" method.  (Ok, I'm a baseball geek, I admit it)  I think after the 2nd one (as it was out of their comfy price range) I would have tried one more time.  But we each have our own comfort levels when it comes to our work and time spent and it sounds like you reached yours.

Oct 07, 2007 09:18 PM
Rick Grand
nowhere - Eugene, OR
sometimes you just have to let some go...I think we've all done it. It sucks to lose out on commissions especially after you put so much time into it but there is no point in wasting your time either.
Oct 08, 2007 01:21 AM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"
Todd, Yes, for your sanity it is wise to occasionally make the decision that you may not be the person to assist these people with their real estate requirements.  Of course, they may be the kind of folks nobody else will be able to help, either.  Karen
Oct 08, 2007 01:36 AM
Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904
You did a good job in finding what they wanted even when they were not sure what they wanted repeatedly. What most buyersa do not realize is this being a commission based business, we get paid for finding the property, negotiating the sales price and terms, and are customarily paid at closing unlike a Host, who shows you to your seat, hands you a menu and puts out his hand. 
Oct 08, 2007 02:08 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Steven - I hope they can work things out between themselves. I would love to see them get a home, I just couldn't do it anymore.

Maria - I had a couple of those my first couple years. Had to take anything and everything, but now I don't and won't!

James - The problem on these clients is I think I was bending over forward!

Mike - I like that way of looking at it. Call me Dr. Todd! I've already got the sexy nurse. (OH - honey put this outfit on - lol)

Linda - Not life, I'm full of that. But time oh yes, they sucked that nicely.

Andy - Good for you, I have been lucky and haven't had to fire a seller yet, but I have heard the horror stories and can understand why you would want to.

Jennifer - First American Title has one! They have a list of people (Buyers/sellers) they will never do business with again.

Diane - That is exactly why I did it! I have people who really are ready to buy.

Kris - I couldn't wait for the third strike. It was just too much time. The 2nd home was actually a lease with an option to buy and with the property they were getting, once they got on their feet their home business that needed this home would have more than paid for the payments.

Rick - We all learn the hard way.

Karen - When they truly are ready, they will be great clients. They just need to work out between them what they really want!

Allison - I would love to see it change now! I would have made some good money being a taxi driver.

Oct 08, 2007 04:50 AM
Portland Oregon Real Estate | Alecia Barnes - Broker
Portland, OR
Todd- as hard as you and I work, sometimes we have to let the time stealers go. You did the right thing.
Oct 08, 2007 10:29 AM
. .
no thanks - Harlem, MT
I would have done the same thing, Todd. Good for you, now you can spend your time on productive business.
Oct 08, 2007 04:01 PM
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
Real Living | At Home - Washington, DC
When Looking to Buy or Sell - Make the Right Move

I think I would have done the same thing.  I will write offer after offer - AS LONG AS the buyer is serious.  If they buyer keeps flaking out - it's time to move on.

I fired my 1st client after I was in the business for only 8 months.  It was liberating!  More importantly is I saw (after the fact), how much time and energy the bad client took from me.

Oct 10, 2007 01:20 PM
Adam Mihm
Coldwell Banker 1st London R.E.S. - London, ON
London Ontario REALTOR

That would be so frustrating.  I think you did the right thing.

 

Oct 11, 2007 03:52 AM
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
Todd, seems to me you did all you could do plus some.  I believe in second chances which you gave them and I think it's time to say Next!.  Maybe they will ge their act together and realize just how valuable your services are and come back, but this time seriously motivated.  I've started including in some of my info that I provide to buyers - I am a serious and motivated Realtor who is ready to work with serious and motivated buyers because I'm really tired of wasting very valuable time with people who don't seem to really care nor respect my services.
Oct 11, 2007 07:33 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

Alecia - I hope you are doing good and I'm looking forward to your return!

Bridgette - That is exactly what I did and to date, they still haven't bought a home.

James - They do take a lot of energy all in the HOPES of a check.

Adam - SO DO I... NOW!

Donna - Doesn't look like they ever got their act together because they never purchased through me or anyone else.

Mar 17, 2009 10:00 PM