Adieu Without Further Ado
This is a very timely post for me.
A former client referred someone to me. The caller told me:
- She had been working with another agent, had been in touch with them via text frequently. She got annoyed with him because he doesn't drop everything to show her properties
- She is a low-end buyer, $150,000 doesn't cover much in our local market
- She has been pre-approved -- but that was TWO MONTHS ago. I know because I asked! And you should ask too. If someone says "I've been pre-approved" ask "How long ago?" -- and if it's been TWO MONTHS and they haven't found and bought a home in that length of time . . . RED FLAGS should be popping up all over
- She was very eager to talk with me and wanted ME to drop everthing to show her a short sale that had been bounced out TWICE from sale pending offers. I told her I had to find out what the issues were behind this BEFORE I waste my time on showing.
- She called me at 3:00 p.m. in the afternoon. I was heading out for an appointment and said I would return her call at 5:00 pm. which I did. We talked for a while, and she STILL wanted me to drop everything and meet her at the property that evening . . . HA HA HA
- Oh, did I mention her PRE-APPROVAL was two months OLD. Yeah, nothing changes in two months time {rolling eyes}
"Unfortunately, we don't really get the core of their motivation until they make a ridiculous offer."
Are we hungry for prospective clients that we forget to screen them ending us up with our precious time flushed down the drain?
Unfortunately, we don't really get the core of their motivation until they make a ridiculous offer.
After working with my clients via e-mail and telephone for almost eight months on sporadic basis, I was ecstatic to hear on the other line the excitement on their tone. The couple delightfully announced that this property might just be the perfect home for them.
I checked quickly online with extreme curiousity the property which triggered their attention. They have been scouting for houses on their own since they have been indecisive as to their wants and needs. They jumped from a residential to a condo. Or from the towns in the Northeast and down to the Southeast.
My excitement was compounded because the house was set on a lake community that I am very familiar with. Not only that. It was very rare to find a property in this area with almost an acre of land.
The house was as delectable as a chocolate fudge. It was deliciously adorable. I could not be more descriptive here as that was my personal opinion.
Anyway, my buyers seemed impressed as well. Were they so impressed to taunt them into making an offer?
Oh yes. They did make an offer. But I almost shrieked in disbelief after my auditory senses processed the number they thought the property was worth despite words of advice and sheets of information to guide them with their decision.
This property was a unique one. A RARE find. Hence, I have to pull out sales from neighboring lake communities for comparison. Even a seasonal home would not come closer to the amount they would like to offer for this year-round home. And for the price it was listed for, I was quite sure it would not last long.
Sixty percent below the asking price for a property that was like a gem. Rare and precious being a year-round home in a lake community with approximately an acre of flat level land. It was a home that would only require new roof in perhaps a year or so and a touch of paint in the fascia. The interior was all updated. These were the obvious.
After listening to the rationale behind the offer price, I would not want to hear anymore.
It is time for Adieu without further Ado. The price of gas is still pegged at $4 per liter and dogs' treats and food are not cheap. I work hard for my buyers to ensure that they find the right home.
But I have already learned my lesson. I set a demarcation line as to whom I should relentlessly focus my attention to and for whom I should continually exert due diligence. These are buyers who have realistic expectations of the market trend and who trust me as their realtor.
And by the way, the subject property has a pending contract as I am writing this which only proved that I was right.
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