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You Don't Always Get What You Want, But If You Try Sometimes

By R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

Mortgage and Lending with Bank of England (NMLS#418481) NMLS# 1046286

May 13, 2007 04:58 AM

Rolling Stones I read a two posts today that were about totally different topics, but who if you think about it, were really about the same thing. The first post which I can't find to link to was about an agent who was having trouble getting potential buyers to sign a buyer's agency agreement with her and the second one was about Radical Professionalism.

In my comment to the lady's post I mentioned my method of working with new buyers and how I tell them that I will show them property for two days without them agreeing to be loyal to me. I feel like this 2 day period allows them ample time to get to know me and to become comfortable enough with my knowledge, experience and demeanor to be able to make a knowledgeable decision about working with me on an exclusive basis.

If after the 2 day period they still don't wish to enter into a buyer's agency agreement with me, then I offer to refer them to another agent. Like most policies this one came about from having gotten burned by buyer's who I had worked with without having a signed buyer's agency agreement who went on to buy a home from an open house or FSBO. On a number of times I had a substantial investment of time, effort and money into these people only to come up empty handed. Ed Rybczynski

Do I lose some business from enforcing this rule. I'm sure that I do. However, I feel that it more than pays for itself in both a direct way and in other ways. One of these other ways is something that Ed Rybczynski pointed out in his post. That is in that the way that you present yourself determines what level of respect you get from your clients. By my informing my clients of this policy and then by enforcing it, I get a certain amount of self respect and while I may lose a client or two, I more than make up for that loss by the level of respect that I get from my clients who understand where I'm coming from. If you don't respect yourself and your time, why would you expect anybody else to respect you and your time?

Bob Mitchell

ValueList Real Estate Services, Inc.

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Debi Braulik

www.roundrealestate.com - Maple Valley, WA

Selling Maple Valley to Fife WA Homes For Sale

Bob-Very good point. New clients look to us to set the tone. If we respect ourselves, so will they.

I like your 2 day rule. That way you both can be sure you want to work together.

May 13, 2007 05:29 AM

Kathy Sperl-Bell

Active Adults Realty - Lewes, DE

I have found that it is more challenging when most of my Buyer Clients come from outside the area. Because most find me on the Internet and do much of their initial research on the Internet, conflicts with new construction can arise. Recently, I had been communicating with the wife for months and planning for their first trip to my area. We talked about their criteria, about my representing them, etc., and how we would spread out the activity while they vacationed here. When they arrived, everything was fine until the husband announced that on the next day they were going to a particular community that he had contacted and made an appointment with. It is a new Active Adult community and one of the ones that the wife and I had talked about and planned to visit. The husband never told her of his own research and plans. The wife was not happy and I respectfully told them that I could not work with them. I felt badly for the wife, but I wasn't going to waste any more time with someone who has no respect for my time or my professionalism.

Now, I always attach a description of Agency and refer them to sections in my web site that describe how I work. I ask them to acknowledge reading and understanding it before we get together.

May 13, 2007 06:07 AM

Tracy Santrock

Santrock Realty Group Inc. , - Cary, NC

Raleigh - Cary Broker

Two days is a long time in my book. I also get a lot of business off of the internet and I spend quite a bit of time sending out relocation packets and other bits of information. As such I generally ask that the agency agreement be signed up front. I, too, probably lose business. However, as you pointed out, we need to be respectful of our own time. Why spend our valuable time with clients if they never intend to be loyal back to us?

May 13, 2007 06:17 AM

Bryant Tutas

Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL

Selling Florida one home at a time

Bob, It's good you have a plan and it's good you stick to it. You may have lost a few buyers but think of all the time you saved. THe time you saved I'm sure enabled you to be more productive with the buyers did want to commit.

May 13, 2007 07:24 AM

R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

Bank of England (NMLS#418481) - Raleigh, NC

Bob Mitchell (NMLS#1046286)

The two days thing came about because the potential buyer would ask how could they know if I was the right guy for them. If they were a referral, then I could point this out to them and we could shorten the 2 day rule. However, if they didn't know me from Adam, then I thought that two days was a fair compromise. Especially since it is true that a lot of people get burned by agents, but that's another post!

ValueLIst

May 13, 2007 03:54 PM

Ed Rybczynski

Integrity Real Estate - Havre de Grace, MD

Your Source for Local Real Estate

Bob

I just saw this article for the first time. Thank you for the mention. I really appreciate it.

May 21, 2007 03:00 AM

You Don't Always Get What You Want, But If You Try Sometimes

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R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham

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