I received a referral from an agent out of the area this week. The agent says they are a "rent with an option to buy" client of his and can I please speak to them. Sure. So I call the client (Lucy for purposes of this post)and we have the following discussion:
Lucy: Hi
Me: Hi
Lucy: I have had a terrible time, my fiance has been commuting and it is too time consuming and costly so we need to move closer to his job. I LOVE where I live now but we have to move.
Me: You said you are having a hard time?
Lucy: Yes, I have gone out and seen properties with several agents and they are showing me junk.
Me: Lucy, if you have been going with many agents I probably can't help you but I wish you luck.
Lucy: Wait, I want to go see apts with you, I am finding that each agent interprests what I say differntly and shows me different properties. I want such and such. We might buy but would rather rent for a couple of years and then buy.
Me: Ok Lucy. I am really not interested in getting involved with someone who is jumping around using many agents. Starting at the beginning if you want to "rent with an option to buy" have you been to the banks and gotten a pre-approval?
Lucy: Oh, let's just make this a straight rental.
I am finding that potential tenants believe if they say that it is a rent with an option they get to see better properties and attract the attention of more experienced agents. They will say whatever it takes. If Lucy wants to find a rental she would put herself in a better position working with one agent and helping them understand what she is looking for. That agent will spend the time to work with her, research properties for her, call her back, if they believe that they will earn a commission and end up renting her a property. Jumping from agent to agent tells an agent that they are spending their time and effort for possibly nothing, wasting their time.
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