Heard 1 Too Many Times "If You Find a Good Deal, We'll Use You"

By
Real Estate Agent with M Realty

 

Good Deal

 

Every now and then, I have a well meaning prospective buyer say to me, "I'm already working with an agent, but if you find a good deal, let me know and I'll use you."  Sometimes it's someone I meet at a social event or someone that inquires from my blog.

I think the buyer's mentality is understandable.  Their intention is twofold: (1) get the feelers out about what they are looking for in the housing market (2) to let me know that I will be compensated if I find them that coveted 'good deal'.

My response is the same every time:  (1)"Do you feel you are getting good support from your current agent?"  (2) "If so, I would continue to work with them."  I won't be calling with the inside scoop on a new listing.

Why, you ask?  Several reasons:

  • Is it reasonable and fair to preempt another agent's hard work?  As a buyer, if you have an agent that is working diligently and consistently on your behalf, it seems reasonable to reward that agent with your business.
  • As agents, we often have access to the same data.  Is it simply a matter of who makes the call, or sends the email, fastest and brings you the 'great deal'?
  • If I'm listing a 'great deal', I would still want you to be represented by your agent.  It's always my preference to have a buyer represented by their own agent.
  • Let's say I did come across a screaming deal before it hit the market - Who would I call first with that 'good deal'?  The clients that are already committed to working with me in their home search, or the person that may work with me if I find the 'good deal'?
  • As a buyer, you may have signed a Buyer Broker Agreement committing you to utilizing your existing agent.
  • And lastly, the agents working in the area, comprise an almost small town-like atmosphere.  Those actively working in the business know one another and complete real estate transactions together - often more than once.  Reputation is crucial and undermining agent/client relationships is a career killer.

And one more quick side-note - if there is a 'good deal' to be had today, it WILL have multiple offers.  No one calls me asking for a 'nice overpriced home' these days.  Everyone is looking for a deal.  The good news, compared to pricing as far back as 2003, it's all a good deal.

The best strategy, find a home you love, that fits the needs of you and your family, and your budget.  If an agent calls you with the deal of the century, if it's not in your budget, and not going to support what you really need in a home, it doesn't matter what kind of deal it is.

 

Originally Posted on OC Real Estate Voice

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Diary of a Realtor
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Anonymous
Kyle D Jan

It is important that everyone has integrity.  I hate when I hear other individuals say things like"the person you are currently working with may not understand that this is available".  This is an underhanded way of trying to solicit someone elses customer.  Customers have very little loyalty, we need to make sure that we have it and use ut.

Oct 13, 2009 06:00 AM #68
Ambassador
1,512,047
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Sorry!  The good deals are saved for my clients that sign BBAs. 

:)

Oct 13, 2009 06:14 AM #69
Rainer
44,342
Linsey Ehle
M Realty - Rancho Santa Margarita, CA

With my Blackberry blowing up with your wonderful comments, this is the first chance I've had to get back to my computer since last night.  I have to say to all you wonderful Active Rain folks, I so appreciate your insights, your ideas, and stories.  While my independant Wordpress blog is my baby, but you've just helped to remind my what is so wonderful about this community.  Thank you so much for your feedback.

I enjoyed writing this post and it's so gratifying to find that I struck a chord.  Happy selling everyone!

Oct 13, 2009 06:25 AM #70
Ambassador
2,011,177
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

There are many people who say exactly this and hope that I'll find them the deal.  I expect my clients to sign BBEs because I work hard for them and will help find them the best deal available.

Oct 13, 2009 07:29 AM #71
Rainmaker
241,877
Barb Fischer
Big Block Realty - La Mesa, CA
San Diego and La Mesa Real Estate

My question to them: do you want a deal or do you want a house? Pick one.

Oct 13, 2009 07:32 AM #72
Anonymous
Brad Christman-Raukov Your Short Sale Solution

Great post, being new to activerain I have to say I'm getting a lot of useful information. Good stuff, I think I'm sticking around for awhile!

Oct 13, 2009 08:39 AM #73
Rainmaker
117,024
Jason Burkholder
Weichert, Realtors - Welcome Home - Lancaster, PA
Associate Broker, Realtor, e-Pro, CMS

You got it Babrb, a deal or a house, you don't always get both!

Oct 13, 2009 08:40 AM #74
Ambassador
1,705,460
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Well put Linsey.

Oct 13, 2009 09:02 AM #75
Rainmaker
251,251
Joel Weihe
Realty World Alliance - Wichita, KS
Helping you to use your VA home loan benefits

Very good post, and as usual once I read through the kazillion comments, everyone's pretty much said what I'd have said, lol.  Come on, who doesn't want a deal? 

Oct 13, 2009 09:12 AM #76
Rainmaker
662,252
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

All good answers/comments above.  I especially like the one about "saving the good deals for my committed clients who use me as their agent!"

Patricia

Oct 13, 2009 10:53 AM #77
Rainmaker
814,114
Bill Ladewig
LoanOfficerSchool.com - Escondido, CA
Experience Is Your Advantage

Your FHA GuruHi Lindsey, actually there may be some good deals out there but they are mostly fixers or homes that are functionally obsolete.  These homes can be turned into the buyers dream home with FHA 203k financing.  One loan purchases the property and rebabs or remodels.

Bill Ladewig, Your Fha Guru

Bill@yourfhaguru.com

 

Oct 13, 2009 12:10 PM #78
Rainmaker
634,207
Holly Weatherwax
Associate Broker, Momentum Realty - Reston, VA
A Great Real Estate Experience

One of the great things about ActiveRain is the opportunity to educate buyers and sellers in an informal and non-threatening way.  Your post did a great job of providing a nice explanation to buyers who might not understand, or even think of, agency issues.

 

Oct 13, 2009 12:40 PM #79
Rainmaker
186,230
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ

I just love the folks that throw that line at me. I always ask them 'what's a good deal to you' and most of the time they have no idea. Then I ask if they are working with an agent and take it from there.

Oct 13, 2009 01:17 PM #80
Rainmaker
1,475,505
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

I love when buyers' only criteria is a good deal. Some could careless about the house, as long as it's a deal.

Oct 13, 2009 01:55 PM #81
Rainmaker
179,924
Dave Sulvetta
Dave Sulvetta, ReMax Connection, Gloucester County Realtor - Sewell, NJ
Realtor

This is a great post.

Not only do I work heard for my sellers, I work hard for my buyers too....I never yet had asked a buyer to sign a Buyers Agreement and it hasn't bitten me yet...(i just know it's coming though). My feeling is they see how much effort I put into their home search. I give them no reason to go anywhere else....

If a buyer says "I'll use you if you find me a good deal" I say "NO THANKS"....(and I have). You just lost a great negotiater for your "good deal"... NEXT!

Oct 14, 2009 02:33 AM #82
Rainmaker
236,147
SEO Expert: Michael George
Phoenix, AZ
Real Estate and Law Firm SEO

This the second time I posted here.  But yesterday, something about your face was so familiar to me...   And now I know!

How many times are you told that you look like Uma Thurman?

uma

Oct 14, 2009 04:59 AM #83
Rainmaker
121,865
Sonny Kwan
Quantum Group Commercial - Residential - Lease Seattle, WA - Mercer Island, WA
206-819-8228

Linsey, Great post! "If I find a great Deal" Great for buyers to read this and great for new agents.

Oct 19, 2009 05:22 AM #84
Rainmaker
149,102
Krista L. Walker
Coldwell Banker Pro West - Medford, OR
Oregon- Homes & Real Estate for Sale

Linsey, another great post.  I am so proud of you to be referenced in the ABR newsletter  You are famous and do us Ashlanders justice!!

Nov 11, 2009 11:44 AM #85
Rainmaker
149,102
Krista L. Walker
Coldwell Banker Pro West - Medford, OR
Oregon- Homes & Real Estate for Sale

another great post.

Feb 22, 2010 04:26 AM #87
Rainer
65,942
Dustin Luther
4Realz.net - Calabasas, CA

no surprise I love your blog, but thinking it might be time for an updated post... :) 

Apr 01, 2010 05:58 PM #88
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