"Stay Away From My Client"
There are opportunities in real estate everywhere. In the Southern California area, we are seeing frantic activity. Interest rates are low, prices are still low and inventory is small. The perfect storm for a crazy market.....oh, and did I mention that appraisers have not gotten the message about our rising market?
But in addition to the tiring aspect of all this work, there are many consumers who don't know who or where to turn for help. Complacent listing agents are not helping this situation...so there is also a lot of agent-jumping.
I do not blame the consumer for this.....it's the listing agent's fault. In the past week, I've heard from 3 different "buyers" who are someone's "sellers."
Did you hear that? These consumers have their homes listed with someone else....but are now committed to using me as their buyer's agent.
Why? Because these mega-agent listing teams are not doing a good job converting these sellers into buyers. I'm sure the assumption is that these people are not going to change agents. That they will sell the home and then show them new homes at their leisure. What they might not recognize is that these clients are out there searching on their own for the replacement home.
They are on the Internet!
Which is where they find ME....and you. Last week I heard from one of the listing agents. I had received a call from their "seller" who found me on the Internet. This now-buyer wanted to see some things in Mission Viejo and felt that I could work with them on this. At our first meeting, I asked about their listed home and the agent who had it listed. They loved this team for the listing, but clearly did not want to use them on the new purchase side. So I asked why.....and they felt that the new home just wasn't a priority for the listing team.
Requests for information took days to get and no one had seemed motivated to take them out to see homes until they had the current home in escrow. I understand that they need to sell this home before being able to buy, but I often work with my sellers while we wait for an offer. For one thing, if they find a great home, they are often willing to sell their current home for a lot less money just to make things work.
In this case, I agreed to work with them, but with a Buyer/Broker Agreement. I explained that I would work very hard on their behalf and work with the listing team, but needed their commitment to work with me as well. They were happy to sign it. Then of course the phone call came from the mega-listing agent....
"Stop working with my client, you are in violation of our COE"
I don't think so...and told him that. He has a listing agreement, and I told him I would do my best to bring a buyer, but that the same consumer as a "buyer" would like to work with me. (A quick call to the legal hot-line confirmed these are different transactions and thus I was correct). A good lesson for us all...do not assume you have the client if you don't service them completely.