Sometimes, You Just Have to Cut the Client!

I made an appointment to meet with what I thought would be a new client with an "ice cream in the car" mentality when it came to purchasing his first home as his rent was scheduled to increase by $200/month.

The potential client was a referral from a past client who, after I was finished selling his home, had a gross gain of $30k from being in a home for just 13 months.  Not bad for a one year return.

The potential client had called me at noon and early evening on a Friday and I returned the call promptly after I exited the movie theater, (date night with my lovely wife).  The client called again at 10:38pm that same evening.  I don't take calls that late.

We met up the following morning and I showed him 5 homes.  During the course I learned another realtor had been showing them homes but did not have contract signed.  I presented the necessary paperwork and an exclusive right to represent and the potential client refused as they needed to have a conversation with the other agent first.........whatever.

The next day he asked to have his search adjusted (pretty ballsy was my thought). I made the adjustment, gave him the benefit he would figure it out and explained we are going nowhere together without the required paperwork and a commitment on his end.  I gave him a week and he would continue to check the criteria I sent.  After the week without the commitment, I removed him from my system.  I know it has probably happened, but I cannot recall anyone refusing to sign an exclusive right to represent upon the explanation and request. 

In our line of work,  we must face the decision not to work with a customer.  This is a risky business where we are compensated upon closing a sale and anything can happen that may be out of our control but there are still some aspects of our business we can control.

The general public appears to have the opinion that we, as Realtors, are overpaid.  Unfortunately, some of the general public are the problem and the reason why it takes so much time and effort to make a living in this industry.

We take on all the risk on a listing.  We pay for the marketing and, if the listing doesn't sell, we are out on our investment.

We take on all the risk of being a buyer's agent.  We pay for the gas, insurance and wear and tear on vehicles to say nothing of the time investment.  And, if the buyer can't or doesn't buy, we are out on our investment. 

It doesn't take too many deals gone wrong to lose a lot of money fast.