Sit Down & Shut Up!!

By
Real Estate Agent with The Realty Butler llc/West USA Realty, Inc.

I must admit that I'm envious. I have a great real estate colleague who is completely in control of her buyers. This young lady has her system for working with buyers down to a very controlled science. Now, I'm not a buyer's agent, per se, but I have my fair share. I sometimes get caught up in showing too many houses, having buyers ask me to make ridiculous offers, may not have buyers sign all the required docs up front, etc. However, my partner does things a little differently. She will meet with a buyer either at the office, or over coffee, to explain how the process works, and how SHE works. If they don't agree, she kicks them to the curb! Here are her rules as a buyer's rep:

#1: Bring your checkbook, 'cause you're buying a home today.

#2: You tell me exactly what you want in a home, and I'll pull 5 homes that match your criteria. If required, I will show you all 5. You'll buy one of these.

#3: You'll write an offer on one of these five homes, and your offer will be within 5% of the listed price, unless I suggest to you that the home is seriously overpriced. In which case, I probably didn't pull it for you!

#4: You'll sign all of the required forms (Buyer/Broker, Agency, Disclosures) before we look at any homes.

#5: You'll use one of three lenders that I know and trust to get your home closed.

#6: You need to understand that I am not a home inspector, gardener, lender, electrician, or general contractor. Don't ask me questions about things I don't know about.

 

Well, you might think that these type of prerequisites would preclude her from ever having any clients. On the contrary! People love working with her, she gets the deal done, and they respect her for her integrity and forthrightness. I love this! Now if I could only muster up the intestinal fortitude. . .

 

Allen

Posted by

Loan Help By Phone or Email!

Direct: (602) 499-4798     Email: therealtybutler@gmail.com

Experienced Foreclosure Counselors!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
76,053
Brian Nelso
Thneed, LLC - Aliso Viejo, CA
Brian Nelso

I guess it is all in the sales pitch.  Most people look to an agent for guidance as they have no idea what goes into buying or selling a home.  It sounds like your partner has been able to focus this guidance into an effective system.  The question that I have is:  How hot is your market right now?  Are these tactics still working as the market is starting to cool?

BN

4MySales.com Agent Success Tools

Aug 14, 2006 06:19 PM #1
Ambassador
946,476
Kristal Kraft
The Berkshire Group Realtors - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

#6 is so important.  People these days expect us to be so much more than we really are.

Good post!

Aug 15, 2006 12:11 AM #2
Rainer
537,034
Becky Troutt
No longer practicing real estate as of 2008. - Bradenton, FL

WOW....Sounds pretty rude and pushy to me!

Bring your checkbook because you are buying a home today?  Sounds like she forces her buyers into making decisions before they maybe would have if they had some time to think it over!  Only giving them 5 homes to choose from?  Here, you are about to make the largest financial decision of your life of where you are going to live.....do want whats behind door #1 or door #2?  Gimme a break!!

Aug 15, 2006 01:31 AM #3
Rainmaker
603,942
Tim Fennell
The Legends of Real Estate, REALTORS® - Jacksonville, FL
Jacksonville Real Estate

I love the concept of controlling your own time and efforts but I'm with Becky on the idea of only pulling and showing 5 listings; especially in our current market where there may well be 5 good listings on the same street. It seems she is also trying to control the customer.

If this is working for your associate, good for her. My guess is that her "delivery" isn't quite as abrassive as it may seem when portrayed in print. I also can't imagine any successful business owner, accountant-type, military officer, etc putting up with that attitude for more than about 2 minutes. If she told me to bring my checkbook because I was going to buy one of 5 listings she would show me, I'd say "goodbye".

Aug 15, 2006 01:47 AM #4
Rainer
1,624
Lizabeth Ireland
ERA Johnson & Thompson Inc. - Franklin, TN
Wow.  Wham bam no thank you maam.  Although I do agree with #'s 4 & 6.
Aug 15, 2006 02:20 AM #5
Rainer
42,239
Jonathan Greene
Team Greene Realty - Tampa, FL

I think the strategy is completely dependant upon the person conducting it.  I probably do things that most of you would consider to be rude or uncooth.  However, my personality permits me to do it.  Probably the same with this young lady.

However, we will show as many houses as is necessary to find the right home for the client.  We feel as if it's our duty.

Aug 15, 2006 02:24 AM #6
Rainmaker
603,942
Tim Fennell
The Legends of Real Estate, REALTORS® - Jacksonville, FL
Jacksonville Real Estate

"Wow.  Wham bam no thank you maam."

LOL - In the spirit of Larry the Cable Guy, "that's just funny... I don't care who you are." 

Aug 15, 2006 02:55 AM #7
Rainer
46,690
Mrs. Sheri Ann Johnson, GRI
Tropic Shores Realty - Spring Hill, FL
Sounds like she was a pit bull in a previous life. I feel like I can get the same message across without the "sit down & shut up" bossiness that Attilla the Hunette possesses. Actually I would be offended & insulted if she condescended me like that. I think this approach might work on very young first-time buyers, but come on! 
Aug 15, 2006 02:56 AM #8
Rainer
7,652
Edward Mehnert
Las Vegas, NV

I am not sure what market is being referred to, but buyers around here expect to shop around for houses, they know inventory is huge.  I agree with #'s 1,4,6.  If the buyer isn't willing to bring a checkbook, they aren't ready to buy.  "If you find a home that fits all your needs today, what would you do?"  I use this or something similar to screen buyers. 

ANd if the person in question has plenty of business, then she can afford to be picky.

Aug 15, 2006 03:31 AM #9
Rainmaker
471,648
Geri Sonkin
Douglas Elliman Real Estate 516-457-7103 - Merrick, NY
Long Island Real Estate & Staging Expert
To each his own.  I haven't even met her and I don't like her.  Someone with those "credits" couldn't sell me an out house.  And yes, I too agree with #6.
Aug 15, 2006 03:39 AM #10
Rainer
463,884
Maureen Francis & Dmitry Koublitsky
Coldwell Banker Weir Manuel - Bloomfield Hills, MI
Coldwell Banker Weir Manuel
Actually I know of an agent that works like that too.  I think she shows 3 houses though not 5.  In our current buyer's market she has no buyers.  I don't think the strategy is working out that well for her.  I've heard her grumbling about the market being horrible.  It might be slower than it was a few years ago, but I am busy (selling houses).
Aug 15, 2006 04:06 AM #11
Rainer
16,361
Allen D. Butler
The Realty Butler llc/West USA Realty, Inc. - Peoria, AZ
MSSC, GRI, CDPE

Hello Folks!!

I am glad that you appreciated the post enough to comment on it. A few points:

The young lady in question is really not abrasive; she's just very business mannered, and knows how to control a situation while being very "cool" with her customers. Her clients rave about her, and she has probably 11 buyer contracts in escrow right now! She's doing something right!

Also, in regards to the market being slow, and the inventory being high, you are absolutely correct. Our market is saturated with listings! There may indeed be "5 homes that meet their criteria on the same block."  My personal opinion is that buyers may be very unwilling to actually commit, and may vacillate endlessly if presented with too many choices. They will always be wanting to wait for the next best deal. The fact of the matter is, there will always be another home that is a better deal. That's the nature of buyer's remorse.

The key questions are:

Do any of the homes I've shown you meet your criteria? Do you love the home? Is the home competetively priced?

If you can anwer yes to these questions, we're ready to rock!

 

Allen

Aug 15, 2006 05:51 AM #12
Rainer
481,261
Teri Isner
Keller Williams Realty at the Lakes - Orlando, FL
GRI, CRS, CIPS
People like children do appreciate rules she has set some parameters that work for her.  Bring your checkbook is a Howard Brinton script from way back, better than buy from me or get out or my car...it is important to understand your buyer.
Aug 15, 2006 07:02 AM #13
Rainer
14,118
Christopher H
REAL ESTATE - Shelby Township, MI
Sounds a bit extreme but if her clients respect her, refer her, and she is getting deals done, what can you say.  Laying out guidelines upfront usually makes the process smoother.
Aug 15, 2006 07:59 AM #14
Rainmaker
314,550
Brian Brady
San Diego VA Home Loans/858-777-9751 - San Diego, CA
858-777-9751

Allen:

I love this post.

I would ABSOLUTELY buy a home from this woman.

1- Why would someone go shopping for a home without bringing a checkbook?

2- If I commmunicate with my Realtor properly, five homes may be just right

3- I hope I write an offer within 5% of the list price and you better not show me overpriced homes.

4- I expect that we'll have a contract outlining how you're compensated and outlining your fiduciary responsibility to me.

5- Does this mean I can't ask you about who the Diamondbacks should trade?

I love this woman.  Please get her on Active Rain or give me her name. 

Sep 01, 2006 06:38 PM #15
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
16,361

Allen D. Butler

MSSC, GRI, CDPE
Ask me a question
*
*
*
*
Spam prevention

Additional Information