For F-r-e-e-e-e

By
Real Estate Agent with Regal Homes and Properties

Adam Sandler said it in the movie "Bedtime Stories."  Everybody wants "for free!" 

 

Do I even have value?  I feel like I'm a volunteer, working "for free!"  Or do I have "sucker" written across my forehead?  I don't know which it is, but it is certainly frustrating and discouraging!

 

I keep getting the clients that are looking for a steal, or as my broker says, "a fire sale."  They use me and abuse me.  One bought a FISBO and I found out later.  She didn't even bother telling me or thanking me for all that I had done for her! 

 

I am currently helping a very nice young couple, and they are now looking for a home they can buy at auction on the courthouse steps.  Working for free, again!  I do love helping people, and certainly understand their situation.  However, I have a family that needs me to have an income! 

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Rainmaker
179,643
Karen Singbeil
Royal LePage Access Real Estate | Associate Broker | Personal Real Estate Corporation - Sicamous, BC
Living In & Selling Shuswap : Sicamous | Mara Lake

I always say we are the only breed I know that works for "free" and hopes to get paid! You are not alone , just need to pick and choose more carefully represent those kids with a buyers agency agreement then you WILL get paid for representing them! That is if you have those where you are? Good luck ;)

Nov 04, 2009 01:04 AM #1
Rainer
258,899
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Three words here to heed:

Buyer's representation agreement.

Get used to asking for the sale before you jump in.

Nov 04, 2009 01:08 AM #2
Rainer
155,544
Ted Tyndall
Davidson Realty Inc. - Saint Augustine, FL
I will help You find the Home YOU want to Buy

karen, that is good advice. We just had a staff meeting about doing the same thing.

Nov 04, 2009 01:08 AM #3
Ambassador
1,557,292
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Be careful of the "users"....they are the ones who start the process by asking for your commission and then it gets worse. When you sense you have one of those.....run, it will cost you less in the long run, plus they are never happy, so you don't even get referrals.

Nov 04, 2009 01:09 AM #4
Rainer
284,279
Christine Hooks
Pino Agency - Pennsville, NJ
Celebrating 25 Years in Real Estate!

In our market, it is common and customary for Realtors to offer a free market analysis.  Usually, this leads to a listing...........or at least the chance of a listing.  But, recently I've had a glut of folks who have asked for a free CMA cause they are considering bankruptcy.  In that case, I feel that there should be a small fee for my time and knowledge. 

Nov 04, 2009 01:19 AM #5
Rainer
45,386
Ray Leiva
Notary Public Bellflower ca - Bellflower, CA

Buyers using us as taxi's, is not a new concept!  The trick is to have a preliminary conversation with them before you take them out!

Let them know:  1-You are the expert in this area; 2-You are going to find the right home for them based on the information they provide; 3-You will only show them 3 to 5 homes, and you expect them to write an offer at full price or higher on one of these homes!

If you have the guts to explain these points before you take them out, you will take control of the buyer.  They will respect you.  If they don't agree, show them the door! 

Nov 04, 2009 01:23 AM #6
Rainmaker
62,331
Wendy Hodges
Re/Max Southern Shores - Myrtle Beach, SC
Davis & Hodges

Stay strong and work to find motivated buyers who will respect you for your work.

Nov 04, 2009 01:23 AM #7
Rainer
191,506
Jon Budish
Resident Realty - Fort Collins, CO

Tami, you're preaching to the choir on this. I see the point of those who think the cost for selling a house is high. The problem we have as realtors, is the business costs associated with free work, when we don't end up with any commission.

Nov 04, 2009 01:42 AM #8
Rainer
3,625
Tami Reynolds
Regal Homes and Properties - Warwick, NY

Thanks for all the advice, everyone! 

Doubtful it will help, I'm a glutton for punishment!  My heart goes out to them.  I could never "force" someone to pay my a commission.  I do use a Buyer's Agent Agreement, but it is only as good as the enforcement!

Chris, I have never charged for the CMA, but I do know agents who charge $100, if is for the sole purpose of having the CMA.  I don't know how that would fly in this economy?

I don't think "motivated" buyers exist these days!

Nov 04, 2009 01:51 AM #9
Rainer
3,625
Tami Reynolds
Regal Homes and Properties - Warwick, NY

Jon, That is exactly what I'm talking about---the costs we pay to work for FREE!

Nov 04, 2009 01:53 AM #10
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Rainer
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Tami Reynolds

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