Finally I said that is enough no more

By
Real Estate Broker/Owner with Texas Five Star Realty, Plano Texas

 

Finally I said that is enough, no more

Stop No MoreWow! What a relief. Finally after more than 1 ½ years working with one of my client, I told her you cannot find the property with your requirement in your designated locations with that low price and any more search is wasting your time and my time. Therefore, if you need to bring your expectation lower or increase your price higher. Otherwise, I will be glad to introduce you to other agents or you find other agent at your own choice. Though, I feel uncomfortable, but I am relieved!

Cultural Differences:
My client is from a culture that in their county they almost never buy or pay the asking price. They negotiate so much and looking for very good bargain for almost everything. That is true for all merchandise in local and independent stores, real estate transactions including leases, foods and fruits from independent stores, furniture’s, etc.

That goes both ways, the seller knows he has to come down his prices during negotiations, so he jacks up the prices sometimes ridiculously high. The buyer, as a habit, offers very low price to start with and negotiation starts until both reach agreement. Depending on merchandise and price, e.g., clothing, the buyer might buy the cloths about half the asking price. However, the seller gets smaller profit but never loses. This is the lengthy process and both sellers and buyers expecting happens.

However, applying this technique or habit in U.S. stores, such as in a franchises department store,  where all prices are fixed and tagged not only doesn’t work but becomes annoying too. Many of them, at least in last year, were expecting 50% reduction of asking real estate prices, because they have heard from media the economy was not doing good, local market was bad, many foreclosures were coming to the market, etc. They do not realize that though those news might be somehow valid for some parts of country (e.g., California, Nevada, Arizona, Michigan, Florida, etc), but they are not true for most of other parts of country. For example, in Texas where real estate did not hit as bad as many other places, not only the prices did not go down that much, in some areas such as Collin County the prices have gone up and there are shortages of houses and inventories.

Now I know some of you say it is my fault and I must have educated them, believe it or not I have explained and show them statistics so many times, but still that is in their thinking process.

   Disclaimer

Hopefully nobody thinks I am bad mouthing about a specific culture. I know this culture and know how the thought process works because I am from that culture, but I don’t agree with it.

 

Contact us about your Real Estate Questions

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Rainmaker
138,243
Annett T. Block
NextHome Connect Realty - Fort Lauderdale, FL
Your NextHome in Fort Lauderdale Beach

Bahman great post. I myself had to make that decision with a client which I tracked out way to long. After I did it I was released like you. They found a new agent and still are looking. In my opinion here in Florida they no longer can compete in our market and with their limited options. 

As you have proven again every market is local!

 

May 14, 2013 08:07 AM #122
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Bahman, its good to fire a client once in a while, hopefully they learned a lesson and will be more cooperative with their new agent.

May 14, 2013 08:39 AM #123
Anonymous
Aneta Ivanova

I been there too. I already fired 3 of my clients , because of that reason. One of them I reffer to the agent of my office, but he fired them too. I learn my lesson-sooner is better. Do not waste their time and ruin their expectations and your time and your reputation. We all know how to write an offer and what to expect, we do not need to excersise writing low ball offers, and got no one accepted, explain again and again and again market, comparables and etc. YOU DID IT RIGHT THINK

May 14, 2013 10:01 AM #124
Rainer
32,654
Gijs Van Breugel
TERRA FRANCE | International Estate Agents for France
TERRA FRANCE | International Estate Agents

Am I right in concluding that the high start and low offer are more of a sport and imbedded cultural practise than that they actually have an economical value ?

May 14, 2013 10:50 AM #125
Rainmaker
1,395,050
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

It's a hard choice to "fire" a client after you've invested a lot of time with them, but when you see that the more you invest the more time you'll lose, it's time to say "Enough!"

Congratulations for cutting them lose.

 listened to a very good tape a few years ago from a man who studies the cultural differences and then teaches sales techniques based on those studies. Different cultures certainly do have different attitudes about buying! In some cultures, they expect negotiations to begin AFTER they've signed a purchase and sale agreement... how awkward would THAT be for the agents involved?

May 14, 2013 11:21 AM #126
Rainer
26,267
Barbara Korabel
Four Seasons Realty Group - New Paltz, NY
Last Name Like Champagne

You need to learn to trust your first instinct. I am sure that you felt they were never going to be pleased with whatever you showed them so after the second attempt you should have sat them down to evaluate their expectations. This comes with time or as I say street smarts.

Fool me once same on you fool me twice same on me...

Barbara Korabel

Four Seasons Realty Group

May 14, 2013 11:35 AM #127
Rainmaker
193,629
Joy Carter & Jeff Booker Brother and Sister Team
Keller Williams Parkland/Coral Springs Realty-GreatFloridaHomes Team - Coral Springs, FL
Trust Your Family's Move To Our Expertise!

We have a client that tells us to cap their search at $450,000 and they really do not want to go over $425,000. Yet they continue to send us listings as high as $500,000.

We finally did the same thing and refused to show them unless the Buyers wants to give us a new mortgage letter. Joy

May 14, 2013 08:59 PM #128
Anonymous
NICO CONDE

GOOD LORD BAHMAN, YOU HAVE THE PATIENCE OF A SAINT. GOOD LUCK TO YOU! NICO CONDE

May 15, 2013 12:27 AM #129
Ambassador
637,470
John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Every so often you just have to climb to the top of the highest hill and yell to the top of your lungs.........................NEXT!! GOOD POST

May 15, 2013 01:49 AM #130
Rainmaker
795,652
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Bahman, no it is not yor fault.  Some clients are just impossible.

May 15, 2013 02:30 AM #131
Rainer
7,959
Natasha Bazile
Natasha Knows ATL Homes - Lawrenceville, GA
Nat Knows Real Estate

Good for you! I worked with a client for almost 9 months that was so draining. I was pretty new and learned some lessons. 1) Every client is not my ideal client. 2) I can say NO if the situation is not right. 3) If they are difficult in the beginning, they will be this way in the end. 4) I decide how I run my business. I don't have to let clients push me around. Things came to a head right before New Years (flaked out the day before closing). I was upset, but the relief of starting my new year free of that headache was a relief!

May 15, 2013 03:24 AM #132
Rainmaker
95,768
Andrea Curtis United Country Premier Properties Certified Military Relocation Professional
United CountryPremier Properties - Harker Heights, TX
U C INTERNATIONAL DIRECTOR OF MILITARY PROPERTIES

Bahman

 

I think it was a great article.  I am in a VERY multicultural area, right next to the largest military base in the world.   It is almost a given that about half the buyers are going to start low and get very upset when the seller does not want to counter.   If it is my seller I let them know they want a counter.   It helps that my husband was stationed and we lived in a country that you were treated as stupid if you didn't bargain.   Many do come around when you show them the comps etc but as with your lady some just refuse to see.   You did the right thing when you fired her.   The funny thing is I have never had to fire a client from another country but I have had to fire 3 that were born and raised in the U.S.  LOL  Have a great day! 

May 15, 2013 03:55 AM #133
Rainer
145,514
Monique Ting
INET Realty Honolulu, HI - Honolulu, HI
Your agent under the sun

Bahman, great post! I would add that it is not just the cultural differences that create the problem, it is the attitude of the people when they think they are smarter than everyone else and can disregard their agent's advice. You did the right thing. Working with this kind of "toxic" client can drain you of your energy. Aloha!

May 15, 2013 06:36 AM #134
Rainer
53,312
Mark Cohen
Eyemark Realty, Inc. - Gainesville, FL

We can be fired by a client, buyer or seller, so we also can fire a client, buyer or seller.  Time is precious and time wasters should be tolerated only to a certain point.  You are right to say "No More."  Fire them and move forward!

I work with buyers and sellers from numerous countries and cultures and there really isn't much difference when it comes to real estate.  I get ultra low ball offers from buyers from everywhere.  I get overpriced listings from sellers from everywhere.

This business is best when both the buyer and seller start at reasonable prices.  It does happen sometimes.

Mark Cohen, Realtor, Broker, Eyemark Realty, Gainesville, Florida, USA

May 18, 2013 10:51 AM #135
Rainmaker
273,364
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

Our time is limited. To waste it on an unrealistic client is not in our best interest. I've let people go and I have never regretted it.

May 23, 2013 02:33 AM #136
Ambassador
597,152
Larry Lawfer
YourStories Realty Group - Newton, MA
"I listen for a living." It's all about you.

I only have two rules.  I work with people I like and trust and who feel the same way about me and my services.  And, I only work with people I know I can get something done with in a reasonable amount of time.  For this NO and NO MORE are perfect responses to people who don't get it.  Frankly, I send these people to someone who is of similar temperament and get a referral. Nothing better than getting rid of someone and getting a referral check later. Win-Win  Great post

Jun 12, 2013 06:30 AM #137
Rainer
63,218
Doug Patterson
Park Place Real Estate, Broker-In-Charge - Winston-Salem, NC
CRS, ABR, Broker-In-Charge

I agree with your decision.  Lately, I was working with a young couple who have done the same thing.  I showed them homes in all the areas they were insistent to see, because of the schools offered in that location.  Finally, after exhausting those neighborhoods, I received a phone call from him telling me that they had found a home on their own, and wanted me to come see it.  It was in a totally different part of our community, schools were just "okay".  Price of home was half what they were looking at previously.  What a huge waste of my time and energy for the previous 4 months.  We close next week, and I'm glad, and happy for them that they finally decided on the home they wanted.

Jun 25, 2013 04:38 AM #138
Rainmaker
323,116
Bahman Davani, CM at Texas Five Star Realty, Plano, TX (214) 457-7055
Texas Five Star Realty, Plano Texas - Frisco, TX
Homes for Sale in Plano, Frisco, Prosper, Allen TX

Doug, I am glad that at least you made a closing. Good Luck.

Jun 25, 2013 05:38 AM #139
Rainmaker
1,043,770
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Bahman, you points are valid.  Sometimes it is hard for clients to trust our knowledge and experience. As several have mentioned, many clients learn the hard way that they should have listened to the advice based on experience and knowledge.

Jul 14, 2013 08:06 AM #140
Rainmaker
323,116
Bahman Davani, CM at Texas Five Star Realty, Plano, TX (214) 457-7055
Texas Five Star Realty, Plano Texas - Frisco, TX
Homes for Sale in Plano, Frisco, Prosper, Allen TX

Sharon, thenks for the comment. As I stated before, comments show that this is a common problem and all of us have been there (or will be there) with some degrees. Thank you very much again.

Jul 14, 2013 10:46 AM #141
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Rainmaker
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Bahman Davani, CM at Texas Five Star Realty, Plano, TX (214) 457-7055

Homes for Sale in Plano, Frisco, Prosper, Allen TX
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