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Why are Home Buyers and Sellers Still Afraid to Ask Questions?

Why are buyers and sellers still afraid to ask their local real estate agents questions about:

The real estate agent's marketing strategy.
Their rights in backing out of a contract.
The pitfalls/benefits of making an offer on an REO/Shortsale property.
Financing options for first time home buyers.
Renting vs. Owning a house.

Last year I had to convince two of my friendswho had their houses listed, one for a town home in a desired suburban subdivision in the ballpark of $215,000 and another in a desired, more rural suburban custom home subdivision in the ballpark of $450,000 to talk to their agents.

Both of my friends are career professionals and do not lack the gift of gab, but when it came to their real estate listings and the inactivity they had received on their properties for months they couldn't bring themselves to ask their real estate agents what was going on. I had to strongly urge and convince them to ask some very basic marketing questions.

I was amazed that both of my friends were coming to me instead of their real estate agents. I thought their fear might be an anomaly, and then I saw questions like these on sites like Trulia and Zillow today:

Our hearts are set on a shortsale home and as I am getting to realize it already started off bad... This buyer has an interesting dilemma and DOES have a real estate agent working with him, but is on line seeking assistance.

As a buyer do I have a right to cancel escrow..... The buyer turns on line when he/she should be seeking the assistance of a real estate attorney.

I need a referral for a qualified home inspector. Must be detail oriented.... Why not seek a referral from a local licensed real estate professional or google home inspectors and research them online?

How do we write an option or land contract? O.K. this one is absolutely flooring me. Seeking the assistance of strangers to write a contract for one of the most important purchases of your life? Why?

Where is the disconnect? Is it the trust factor between consumers and the real estate industry? Is it the convenience of a dominating online website real estate presence? Is it the comfort of being anonymous?

Are buyers and sellers scared to engagein straight talk with real estate professionals? Are they having a hard time finding local professionals online with answers to their questions. I know when I was at Blogworld last September, several business professionals I spoke with from outside of the industry said it was the first time they had been aware that real estate professionals are blogging.

I have to ask the question: What is going on?

Posted by Rebecca Levinson, Real Estate Marketing Consultant on 02/02/2009 12:17 PM

Comments (15)

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15 Comments on Why are Home Buyers and Sellers Still Afraid to Ask Questions?

FEB

2009

Your post is right on the money. I receive at least a call a week from someone under contract to other real estate professionals. It is pretty terrible, and I always tell them there is nothing I can do for them as long as they are victims err clients of someone else.

It would help if some agents were good at doing a complete job instead of just talking the talk to get the listing. Understanding your client's needs is what it's all about.

The ones that I have found that were asking questions of me(without knowing I am an agent until after tthey started the conversation) or wouldn't ask me are people who were looking for a way to avoid USING a real estate agent. I encourage my sellers and buyers to ask questions and I stop and LISTEN to them - that means watching their body language as well - you can usually see when there is a disagreement or concern or something watching and listening to them. I do have a lot of people call me from the local community for info as well as other agents sellers and buyers. I think they see us still down on the totem pole as well as far as the "trust" factor with us due to some who are out there NOT doing their job and give us a bad name.

I think in the circumstance you mention the client probably does not want to engage the Realtor because they fear the Realtor will tell them to reduce the price.

These are interesting questions - and I don't have any quick answers. I do think that some people are asking questions to avoid using an agent, and want to do the deal themselves, so can be said they are 'researching' and then comparing answers. I also think there is a trust issue for some with their agents. Have also run across people who say they have an agent, and don't. My goal as is most agents I know, is to build the trust so that questions will be asked --- and anticipated.

I had one client tell me that he was reluctant to use a realtor because he had "heard" that if you talked to one you were obligated to them for 12 months and that he would have to pay them 7% out of his pocket. This was obvious misinformation and I told him so...He did end up buying a house with the help of a realtor. I think misinformation, bad information, and no information is definitely an obstacle. There is similar bad info about lenders too.

Robert- It's a sad event. I often get questions from real estate professionals who aren't getting the results they had anticipated but had already paid for a service for their marketing.

John- Yup, listening. You have got to put your ear to the ground.

Valerie- Take a look at some of the responses on the r.e. discussion boards when a consumer chimes in. If the consumer doesn't agree or questions there are some r.e. professionals that jump for the attack.

Bill- Could very well be. With my two friends, they just got no feedback and had this fear of asking and I dont think it was price 'cause they would've told me. Hardly any showings, bare minimal marketing on both homes. My one friend, the one with the higher priced home, even kicked in extra marketing dollars for top notch exposure. After a few months her agent ran into some personal problems with resulted in a 2-3 month loss of marketing time on her home as there wasn't a warm hand off to an associate by her agent.

Alexsandra- It's okay not to have a quick answer and there are a combination of reasons I believe, as you have named at least 3.

Rich- It's those kind of misconceptions, now that is probably not an average case, but I bet there are many similar in nature. Many people don't want to bother r.e. professionals and they dont think they can engage in a relationship before they are ready to pull the trigger. Now it works on the flip side, sure, but you always have folks who want it all for free- this happens in every industry.

FEB

2009

Rebecca, a very interesting issue you have raised. So interesting that I would like more information on this topic before I come up with an opinion. This should be on one of those investigative TV shows. All the comments to your point are also very good. I am bookmarking this blog. Thanks Rebecca!

Rebecca, it is not that they are afraid, they don't know what to ask. Great post!

Rebecca, sometimes when I read your headline, I just know the content is going to be juicy. You are very good at blogging!

Jim- Thank you. Please come back on this post and let us know what you find.

Tony- Thank you so much I love blogging. You are right, some are also just afraid because they don't know what to ask, or how to ask.

FEB

2009

What is going on is an evolution to consumers becoming more hungry for information. Sites like Trulia are long overdue and far more effective in consumer engagement than just about any others I've come across.

I'm not a fan of Zillow, because I think they're actually counter-intuitive to both the buyers', sellers' and Realtors goals. Not to mention they're grossly inaccurate with comps, photos, stats, etc.

Great posts & compelling questions Rebecca! :)

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Rebecca Levinson, Real Estate Marketing Consultant

Lake Geneva, WI

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Real Skillz-Clear Marketing for Your Real Estate Vision

Address: Lake Geneva, WI, 53147

Office Phone: (815) 219-0691

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