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Sometimes failure, w/persistence, often leads to success

Jennifer Allan wrote a featured blog today entitled, "My New Buyer Calls at 7:30 am on Sunday Morning - Do I Jump? You Betcha! " which I really enjoyed reading. Jennifer always has enlightening stories to share. While reading Jennifer's blog today it reminded me of an experience that I went through with a client over the past year and a half that started off poorly but, in the end, became a success story.

Early last year I was at the office working phone duty and a nice elderly lady walked into our office indicating she was looking for a Ranch home in the Cary area and preferably in the Active 55 Subdivision around the corner close to where her daughter lives-in Heritage Pines.

Many of you have read my blogs and know that I have focused on the Active 55 segment and have targeted this area as a high growth area for my business. That said, I indicated to the client that I am very knowledgable about the preferred community and area they are looking in indicating I would love to help out.

I worked w/the client and her husband showing them the available homes on the market, getting them Pre-qualified for the loan, sending them floor-plans on the units they were interested in, restrictive covenants, you name it. I really thought that I had developed a good working relationship the husband and the wife. Then I got the dreaded phone call from the wife indicating that someone put a "For Sale By Owner" sign in their yard that very day and that they appreciated my assistance and would be using my lender but that they would be purchasing the home directly from the owner!! I know we've all been there but I tend to take these things personally. To say that I was disappointed is an understatement. And, that was the first occassion of working w/this client.

I politely indicated to the clients that I enjoyed working with her/them and would love to help them with any additional real estate needs they might have in the future. I also kept in touch with them and tried to put the past behind me. Then I get another call from the client(s) indicating they are looking for a Villa in the same neighborhood for the mother/mother-in-law. I worked with them several months on this opportunity and guess what happend? Same deal. The clients were at the Heritage Pines Clubhouse and found out about a gentleman that purchased a Villa and passed away before actually moving in. So, they bought directly from the owner again. I'd say all in all the two lost sales cost me $15,000 last year. Again I kept in touch with the clients and kept a good attitude hoping they would give me a referral somewhere down the line.

In March of this year I get another call from the same clients. At this point I'm only imagining why they would be calling. They have actually decided to sell the Villa in Heritage Pines and buy a Single Family Home in the neighborhood and they want to use me as their listing agent for the Sale!! Finally, a light at the end of the tunnel.

After two failures with the same clients I have now listed their Villa in Heritage Pines and have it under contract scheduled to close June 6th. I must admit I could have easily given up on these folks but it's not my nature. I hung in there and it eventually paid off for me(Another successful closing 6/6). Since I got the listing I now have another listing in Heritage Pines and the clients have told their neighbors what a great job I've done for them. I've also sold the other listing in Heritage Pines so I'm batting 1000 at this point.

My advice to all agents is "Never give up when the chips are down" and "Always hang in there with clients even though you think they may have gotten the best of you".

Posted by Tracy Santrock-Cary NC Real Estate Realtor on 04/28/2008 07:06 AM

Comments (11)

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Originally posted at: Cary NC Real Estate >> Raleigh & Cary NC Real Estate Blog: Sometimes failure, w/persistence, often leads to success

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11 Comments on Sometimes failure, w/persistence, often leads to success

APR

2008

Tracy, the first part of your story you had me convinced lightning can strike the same spot twice. I sometimes think it is about Karma. You just keep doing your best and you can't control what is out of your control. Your very good attitude I have not found in many people. I commend you for having a gentle spirit. Tremendous!!

Persistence will pay off in the end...when one door closes another one opens. Sometimes it takes time to realize it.

APR

2008

Tracy,
What a wonderful testament to your professionalism and character. I don't think many agents would have kept in touch after the second incident. My hat off to you!

APR

2008

I don't know. I KIND OF disagree here. I'm a pretty nice person and it gets me into trouble. I am finding that people take advantage and there was NO NEED for them to cut you out of the deal twice. I find that a tad hard to believe. There is no need to be a doormat. In fact becoming a doormat is a dangerous thing. I don't know how it is in NC, but in NY they could easily have done the RIGHT THING and say they had a buyer's agent. They chose to dump you twice. I would not be working with someone like that a third time.

I had a time waster client in my first year at first it seemed "easy" - all they wanted was new construction (2 BR condo.) They had a lot of money to put down etc. After we found a couple of places they brought their parent's in - each SEPARATELY to see three units. So these three units got three showings. that's 9 showings...for the three they liked and about 20 showings for the ones they rejected. I was patient because I thought we were nearing the end. Then, they lowered the boom that they didn't have the down payment. Apparently, the parents were putting down the money and someone didn't give a green light. They found a rental and that was that.

The next year they were back. This time the young couple had the down payment. But they felt they HAD to show their parent's the units. They were young but this was getting more than a little old. Once again - they wouldn't make an offer without 3 separate showings. The wife's mother was a nightmare. Each showing with her took two hours - she tore everything apart. 9 showings just to narrow down the final three. This time we were literally all over the county! I think we did 34 showings plus the extra six on the final three. My father was seriously ill and the wife was ridiculously demanding - they were literally sucking up all my time. We had the preapproval and everything in place. I had explained to all concerned what the costs were going to be (the wife had really expensive taste) but when the husband realized the out-of-pocket cost it was going to take to please his wife - he went ballistic - in many ways I didn't blame him - but he KNEW the costs because I had explained it so why the big surprise? I tired to show them a few things that they could fix up - but this lady was determined that everything had to be shiny new with location, location, location. They rented again - in a ridiculously expensive complex - costing hubby far more than any purchase would.

If they come back this year....NOOOOOOOOOO WAAAAAAAAY. Unless they are buying a $ 1 million + unit, I am down to about $5/hour. I'm not even going to discuss the gasoline/auto wear and tear. I wasted far too many hours of my valuable time on them. Given my father's illness, this cost me dearly because it cut drastically down on prospecting. I had four similar (though not as extreme) time suckers clients last summer resulting in a dead loss and far too little prospecting and I paid dearly for it - no sales for many months because I was too willing to go that extra mile or two or three....or 100. I would have had far more business this past year if hadn't let myself get sucked in hoping that the bird in the hand would be productive. NEVER again.

MAY

2008

Tracy, I think that almost any of us could have written this post at one time or another, and I for one really feel your pain, and your excitement at finally getting a crack at a check from these guys. I'm getting better at having people sign buyer broker agreements at some point pretty early in the transaction when we decide we like each other and are committed to going steady. And yes! Been there! Done that! And I've gotten good referrals from people like your clients. So I'm convinced something good will come of it. Just make sure they understand that, if they run into someone at the clubhouse who wants a villa, you get your check!

"Many of life's failures are men who did not realize how close they were to success when they gave up."
-- Thomas Edison

Tracy - I remember so many of the client disappointments, but I've learned, too, that many of those same folks can provide solid referrals and future business. You just never know where that next buyer or seller will come from.

You took the right approach with those clients and you ended up winning. We're not always able to help everyone, but they can end up being a great source of referrals or eventual business down the road. I had one client that I met on my first day of floor (yes, quite awhile ago). It took three years, but I finally closed a transaction with them. They have remained dedicated clients and I expect I will hear more from them down the road.

MAY

2008

Tracy - two strikes and a hit something like playing basball or going fishing.

AUG

2008

Tracy, I agree with Patricia~ buyer's agreements are good for your buyers so they aren't unprotected when buying a FSBO and they will ensure you are paid. All the best! You are a hard worker.

AUG

2008

To all - each situation is different and even though I didn't have the BA on the 1st 2 I kept in touch and got the 3rd listing and a buy side. My biggest point is you have to have a good feel for your clients. They even used my mortgage company the 2nd time and have also referred me 2 buyers. If I had "intervened" and made a big deal out of it I wouldn't have gotten the four transactions in a market segment tht I value highly.

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