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Waste my time ... please!

By
Real Estate Agent with Homesmart

I have made light of purchasing reticence within this virtual nook.  I have assailed the inability of some to clear the hurdle that separates “browsers” from “buyers” in this ethereal cranny.  I have most likely made some fearful to ever step into my vehicle as a house hunter, lest they be tormented by the subconscious meter that ticks inexorably closer to the outlying fringe of my patience in their pursuit of a home.  The squeal of brakes at every red light reminiscent to the mind's eye of the protestations of a creaky shopping window closing against its will.

The truth of the matter, though, is as much as “career buyer syndrome” can be a frustration to the afflicted and their agents alike, most lamentation from professionals who bemoan the mileage on their vehicles, depleted gas tanks and missed soccer games for the client who is seemingly as likely to buy a nuclear submarine as a house, is misplaced.  In actuality, the occassional encounter with such a client is vital to the continuing education of a REALTOR.  What is the first thing most new agents are encouraged to do when they join this wild and woolly industry?  Go look at houses.  As many as possible.  Learning the product and the values is a key to becoming the knowledgeable professional one (loudly) proclaims to be.

After a few years in the biz, new clients start coming our way through referrals as well as whatever lead generation techniques we have chosen to employ.  Burgeoning careers look to be fast-tracked for success.  This is a rather critical juncture.  Let’s call it “I’ve made it syndrome.”  Focused on the new business that is coming in by the bushel, it is all too convenient to convince oneself that there is no longer time for the menial task of viewing inventory that does not pertain to the immediate needs of current clients. 

Agents get soft, lose that eye of the tiger.  The hardcore open house and previewing training regimen is traded in for occasional MLS surfing.  Next thing you know, Thunderlips and Clubber Lang are taking turns knocking your listless Rocky around the market.

The much maligned time wasting client is not actually a time waster.  Certainly, there will always be those with whom we are not compatible.  There will be those who are unrealistic in their wants, and are likewise unbending in their desires.  We have the luxury of turning down the business we know represents a long walk off a short pier.  That caveat notwithstanding, I maintain that the clients who spend six months, a year or … gulp, longer to find the perfect home represent an opportunity.  That opportunity is to view inventory.  To isolate new subdivisions, new styles of architecture.  To leave the confines of the office and see that which we profess to know intimately.

Beats the heck out of sitting in a classroom while we obtain the latest in a long line of academic certifications that mean about as much as my Outstanding Achievement In Reading awards from Cochise Elementary School.

I have a particular client who drives me absolutely bonkers, and she knows it.  Because I tell her.  We laugh about it over coffee.  We have looked off and on for several years this last go round.  Of course, she has bought homes from me in the past, so in the interest of full disclosure, her leash is a bit longer than it would be for the average man on the street.  The fact is that I have the time to accommodate her whims (no matter how busy we get, there is always an hour to be found somewhere during the course of a given week), and I have become quite the resource for mid-century modern homes in the Phoenix and Scottsdale area as a result.  Never a big fan of that particular style of architecture in the past, our tours have brought a new and profound appreciation for this niche, as well as a knowledge base for the “it” builders and subdivisions that best exemplify the local modern community for which I previously had no use.

While we may bellyache from time to time about the instances in which we are the world’s lowest paid chauffeurs, there is always something to be gained in viewing houses.  I may not get paid today, but the education may pay me threefold in the future.  I have accumulated a fair amount of know-how during my decade in Real Estate, but there are always new stones to turn over and things to learn.  Lessons that are only learned out in the field.  That means turning off the computer and getting some face time with the real world on a regular basis.  Doing the things that make us useful and needed in a landscape of online services and long-distance "experts" who would otherwise marginalize the local professional through instant, if incomplete, data.  Information in the absence of context is useless.  We provide the context.  That is our job security.

So go ahead, my fellow professionals, and allow your precious time to get wasted as you look at 100 homes with the same foot-dragging buyer.  Your continued employment in this field might ultimately depend on those lengthy weekend forays. 

Of course, if you are looking for million dollar homes with an $80,000 budget because the market is “still declining,” I will gladly give you a referral to a top notch local professional.

Comments(41)

Shari Song
Berkshire Hathaway Home Services - Federal Way, WA

Paul,

You certainly have a creative writing style. Have you ever thought of writing novels? Thanks for sharing.

Shari

Oct 17, 2009 08:04 AM
Beverly Carlson
Carlson Properties 325-721-2429 - Abilene, TX
Abilene's Staging Realtor

Wow, an enjoyable readable blog and no pictures!  Showing houses gets you really familiar with them, you become the expert.

Oct 17, 2009 08:05 AM
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Hey, I like the post, great idea on "I want to see everything!"  LOL

Patricia/Seacoast NH Homes

Oct 17, 2009 08:41 AM
Roch St-Georges
EXIT Realty Matrix LTD., Ottawa, ON - Ottawa, ON
Real Estate Agent | Agent Immobilier

I agree with Matt Groher it will only makes you practice and will only make you better. Keep at it.

Oct 17, 2009 10:01 AM
Michael O'Donnell
Berkshire Hathaway Home Services Arizona Properties - Scottsdale, AZ
GRI, ePRO, Accessible Homes

It took me a while to develop  your point of view.  Looking at homes for some out-of-state clients (I sold their home in AZ several years ago and they wanted to come back) I looked at many homes that looked "good" to them on the internet.  Ah, the wonders of digital photography.

But a funny thing happened along the way.  I became more conversant and comfortable with the inventory available in the size, style, price range, and location in which they were interested.  When they arrived to kick the tires the comps were more than numbers in the MLS.  My level of service had been helped immeasurably by all those wasted hours.

Whadda know.  I must have learned something visiting all those homes.

Time wasted? It's all in how you look at it, isn't it?

Oct 17, 2009 10:11 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Lowest paid chauffeurs or taxi drivers Paul, we are the ones that allow others to treat us like that. Who says you can't fire one of these buyers, or refer them to your worst enemy?

Oct 17, 2009 01:17 PM
Paul Slaybaugh
Homesmart - Scottsdale, AZ
Scottsdale, AZ Real Estate

Certainly our prerogative, Gary, but I often accommodate the long term projects for the very reasons cited in the post.  It's all educational if you are open to it.  Besides, it's kind of hard for us to complain about mistreatment when the very lack of guarantee is the basis for our lucrative pay.  If it were easy and every person who set foot in our vehicles resulted in a check, our potential pay would have to fall to a commensurate level. 

Oct 17, 2009 01:26 PM
Paul Slaybaugh
Homesmart - Scottsdale, AZ
Scottsdale, AZ Real Estate

Shari - Yes, but all the good stories have been written ;)

Beverly - Not big into pictures on this blog.  While appealing to the eye, to me it is usually a distraction.  I'd rather focus on improving the prose than dressing it up.  Probably a touch of starving artist type hubris ;)

Patricia - We are all too aware of the negatives associated with this type of buyer, thought I owed it to them, as well as us, to explore the flip side.

Roch - Thanks for reading.

Michael - I detect a kindred spirit in your comment.  Look forward to a cross sale some day.

 

Oct 17, 2009 01:34 PM
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

Paul - I read this first on your Facebook page, so...

Indeed, the education we get from this is very valuable. It reminds me of something that Ed Silva told me recently - it's on the job training, especially for newer agents who do not have the experience to know everything there is that is involved in buying a home. The same can be said for the seller side of things....

Oct 17, 2009 02:40 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

I can see this as a useful point of view provided they are actually looking realistically.

Oct 17, 2009 04:29 PM
Paul Slaybaugh
Homesmart - Scottsdale, AZ
Scottsdale, AZ Real Estate

Christine - To which, I'd reply ... why?  Even if it is a total wild goose chase, have you not improved your market knowledge?  There is a limit to every agent's patience, and I am largely playing Devil's advocate here, but the intent and realism of the buyer involved in the (mis)adventure doesn't change the potential benefit to be gained.  Whether or not the client I mentioned in the post ever purchases a home on this low-speed chase, the educational benefits are mine to keep.  It may border on silver lining, new agey type thinking, but if we are looking only for a paycheck (which does make our world go round at the end of the day), such excursions are indeed fruitless.  If we see benefit in gaining more command of our craft, however, we can use any pie in the sky, drug addled, delusional looky loo experience to further our on the job training.  I thought I knew it all after year one, but the longer I hang around, the more I realize I have barely scratched the surface.  New knowledge and expertise can lurk in the most unlikely of places.

William - Good, bad or indifferent, we can take something from every experience to become better agents.  Not just more financially successful agents, mind you, but better agents.  I like to think that my clients today benefit from the thankless pilgrimages of yesterday.

Oct 17, 2009 04:42 PM
Randy Hooker
Dreamcatcher Realty / Greater Phoenix Area - Gilbert, AZ
Gilbert, Chandler, Mesa, Queen Creek

So I noticed that Nick hasn't responded.  Is he your worst enemy, or what?!?!?  Just sayin...

Oct 17, 2009 07:03 PM
Julia Odom
Select Realty Professionals - Chattanooga, TN
Chattanooga Homes for Sale

I've been showing large land tracts to the same couple for the last 9 months. I really do think they are going to buy eventually but if I weren't getting an education at the same time I might be a little resentful of the time spent so far (they're also nice people and I enjoy getting together with them about once a month).

The latest: I'm learning about waterfront property and TVA dock rights. Hopefully it will come in handy again someday.

Oct 18, 2009 12:43 AM
John MacArthur
Century 21 Redwood - Washington, DC
Licensed Maryland/DC Realtor, Metro DC Homes

Paul........thanks for writing about another one of the successful agents secrets. I believe that if agents suffering from a decline in business stopped looking for the magic bullet or holy grail and just did their job, they might be surprised to discover the results.

You are correct in stating that our lucrative compensation is directly tied to the random nature of our success. It must be human nature to revel in one closing and disparage 10 dead end clients.

Wonderfully written and purposively stated. Much better than sunday morning talk shows.

Oct 18, 2009 01:59 AM
Mesa, Arizona Real Estate Mesa Arizona Realtor
Homes Arizona Real Estate LLC - Mesa, AZ
AzLadyInRed

Hey Paul, I actually read through your entire inside view of the Realtor experience these days. Rather than just a "great" post, it provides the insight each of us must remember when searching for a home with and for a buyer. During these "hunts," I've been afforded the opportunity of being on the inside of some of the hidden gems in our great valley. Thanks for sharing, as always.

Oct 18, 2009 04:25 AM
Rich Bouchner
Bouchner & Co. Real Estate (Rich Bouchner) - Manhattan, NY
New York City Real Estate

Paul:

 

You nailed it.  There is no substitute to good o;d shoe leather! ( I work in New York City.  We walk and take taxis with our clients!)

 

Good luck.

 

Rich

Oct 18, 2009 02:05 PM
Susan Mangigian
RE/MAX Preferred - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

Paul, first off, Nick must be a particularly good friend of yours.  Either that, or he is going to kill you soon.  It's a long running joke in my office that my clients tend to like me so much that it takes them years of looking to buy a home.  I never give up though.  Perhaps they go on the back burner at times, but I keep them on my email list.  I closed one that looked off and on for 3 years.  They spent $565,000, so it was a nice chunk of change, and I got their listing.  I just closed another that I have been running all over for 2 years.  $490,000 at a full commission.  Well worth it.  Draining and time consuming, yes.  But, in the end, perseverance pays off.  But you are right, you can only do one at a time, two at most and thank God most buyers don't stick around quite that long!

Oct 23, 2009 06:52 AM
Susan Mangigian
RE/MAX Preferred - West Chester, PA
Chester & Delaware County Homes, Delaware and Ches

One other thought. It's those long running clients that get to know you the best and refer you the most.  The clients that buy right away may never get to know you well enough to be comfortable recommending you. That first couple, the 3 years couple, already referred someone to me that bought right away and I am now working with her sister.  The two year client has referred her brother to me. 

Oct 23, 2009 06:55 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Yep, Nick is going to kill you.  I just showed a few homes to a couple who are traveling around the southwest, deciding which city to retire to in 3 years - I'll send them to Nick.  Nice folks bought me lunch.

It is fairly easy to keep up on the inventory in this small town.  Another advantage is knowing what homes actually sold for and why.  Invaluable info when meeting with the appraiser and getting the best price for my seller.  I have usually been in every home that appraiser is using as a sold comp - it helps.

Oct 31, 2009 07:20 AM
David Dee
RMX REALTY - Alhambra, CA
Real Estate - San Gabriel Valley (L.A.) & N. Orang

From the desk of David Dee,

Paul, how's it going my friend! it appears that you have a little rant going on here. It's all good..for some reasons..i guess. :) I've got one such case in the making. How about 1 year...that's what it took as the buyer was taking some time. We are closing on the deal this coming week if all goes well. It does pay off but you've got to hang in there for the ride. A few bumps along the road but the eventuality of the juxtaposition will be worthwhile.

 

Nov 01, 2009 05:25 PM