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Why You Should Tell Your Realtor EVERYTHING!

By
Real Estate Agent with Berkshire Hathaway HomeServices New Mexico Properties 47726

Why You Should Tell Your Realtor EVERYTHING!

Recently I started working with some nice folks from out of town. At first it seemed like they were doing all the "right" things. During our Buyer's Consultation, we identified the type of properties they were looking for. They provided me with a pre-qual letter so we had a good idea about price range. The goal was to find a home and close on that home before the end of the year.house question mark

Then the time came to come up with specific properties to view. I questioned the choices at first as they were nothing like the first properties we originally discussed in our Buyer's Consultation. When I asked about this, the wife simply stated that she wanted to see them. Period. Well, that was good enough for me. I'm not about to argue with the family matriarch, so off we went.

Soon it became clear that there was a huge disconnect on what she wanted and what he wanted. He was discounting every property because it didn't have room for his trailer. Finally, after about 6 houses, I could no longer stay silent. I told them that we may be wasting time looking at the houses they picked as none of them would have the type of land/room that they obviously needed. They agreed and asked if I would choose different properties to view.

We met again the next morning and I had more appropriate listings set up...or so I thought. You see, they had done some "running around" the night before and picked up flyers from homes they wanted to see. But, wait a minute. The flyers were from homes that were out of their price-range. When I asked about the original pre-qual amount, they simply replied "Oh, we can afford way more than that. We just didn't want anyone to know it, you know, so we could get a better deal".

Basically, they got their banker to write up a low pre-qual letter, didn't tell me they could afford more, wasted a whole day of home-searching looking for the wrong type of properties in the wrong price-range. So much for closing on a home before the end of the year. This search continues... This, ladies and gents, is why you should tell your Realtor EVERYTHING!

Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

 Actually, I do ask so many questions at our first meeting - even before we go out in the field to see the homes, Jeffrey Stevens !

Dec 05, 2014 08:46 AM
Richard Arnold
Keller Williams Realty East Valley - Tempe, AZ
Realtor - Tempe, Chandler, Mesa, Gilbert, Phoenix

"A deal" ain't no deal.

Dec 05, 2014 08:53 AM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

Jeffrey,

These buyers seem to think that they need to protect their buying power information from the very people that need to know it, in order to help them.  I've not ever encountered this particular client.  I've had buyers get a lower pre-qual letter but they let me know that they had requested it to be printed in that amount and the amount that they were originally qualified for.  

 

Dec 05, 2014 09:59 AM
Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Jeffrey Stevens - Love the fact that looking at 6 houses you said that you could no longer be silent. You could've looked at over 50+ houses with them and not know what's going on. Hopefully they won't give you the run around and waste your time.

Dec 05, 2014 10:56 AM
Cheri Long
Metro Brokers/Priority Properties, Inc. - Centennial, CO
Metro Denver Realtor- Your Home is my PRIORITY

I thought you were going to say they called the agent on the flyer and found a home without you, and you should be happy for them, and not to have to work with them because of their indecisiveness!!! But whew, you still have a chance to sit at the table with them... someday.  

Dec 05, 2014 11:26 AM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Oh, I agree  with you. It's not like we are going to make them buy something at the top of their limit.  We want them to get exactly what they want at the price they are comfortable.  If they want the Movie Star home on a Pauper's budget we need to talk a little more.

Dec 05, 2014 01:12 PM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I have only had this happen a couple of times.  I ask folks what can you afford and what is your comfort level!  I hope that buyers understand that they need to tell everything to make their home search most efficient.

Dec 05, 2014 02:00 PM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Not wanting to shoot the moon and be pigeon holed into a price range filter slice here or here. It happens and if the two don't agree on the home sweet home charcoal sketch of what does it look like, that may explain that one wants less, the other more in the size of the monthly debt service too. Part of the real estate dog and pony and sorting it all out.

Videos, real ones to tour until their heart's content saving your time and gas. And boil it all down to we have made our decision.. settled in on this one as something we both can agree on. Time... it makes a difference. Don't dump them, help them zero in and stop flob dubbing around.

Dec 05, 2014 09:16 PM
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

I had this experience early in my career too. Both spouses wanted something different, but they didn't tell me everything until after looking at that 10th home. Then, we had a real face to face, and they ended up building a custom home.

Dec 05, 2014 10:18 PM
Fred Dorsey
Coldwell Banker Residential Brokerage - Rockville, MD
Montgomery County Probate Expert

I remember something like this . Two different wants and our job is to be the solution . You have to look at your time and is it worth it to you . Sit them both down with a heart to heart talk

Dec 05, 2014 11:08 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Indecision and fear sometimes takes over home buyers but eventually they will understand that agents don't make up home prices -- they are what they are because of what past buyers were willing and able to pay. Home buyers who hide their mortgage qualifying are likely hiding they may be working with other agents. A good time to discuss a buyer/broker contract. 

Dec 05, 2014 11:24 PM
Jeff Stevens
Berkshire Hathaway HomeServices New Mexico Properties - Las Cruces, NM
Jeff Stevens, Associate Broker/REALTOR

Everyone - Thanks so much for all of the comments. For now, I will continue to help these customers BUT with a new set of boundaries. We will not go out again until I personally speak to the lender. I need the WHOLE picture and without that I will likely refer them out. It is sad that some consumers distrust their Realtor when we are here to HELP, not screw you over!

Dec 05, 2014 11:25 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I listen to everyone and often have to help bring the excitement into reality. Yes to anything is possible but lets examine the steps to get there...

Dec 05, 2014 11:31 PM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I have had couples in different directions too and it is frustrating. What finally happened Jeffery?

Dec 06, 2014 12:45 AM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

I have had clients tell me I'm a great marriage counselor as we go through the buying process. 

Dec 06, 2014 01:50 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

I too have had a  couple of clients that wanted to hold back and not divulge all. It took a little while to have them get the message that I was not looking for them to shoot the moon, but to find something that they would enjoy.

Dec 06, 2014 04:57 AM
Claude Labbe
RLAH / @properties - Washington, DC
Realty for Your Busy Life

That strategy they've devised won't necessarily ensure success.  If they are honest with you, perhaps you'll craft a better strategy.

Dec 06, 2014 01:51 PM
Jeff Stevens
Berkshire Hathaway HomeServices New Mexico Properties - Las Cruces, NM
Jeff Stevens, Associate Broker/REALTOR

Maria Morton - Funny! I feel like a marriage counselor sometimes...as well as a mental health counselor!

Dec 06, 2014 11:21 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

 You know some times we think we know / have been told the truth and at the eleventh hour find out falsehoods have been told to us and the lenders. Now that really bites...... It just happen to me right before closing!  Not cool.

Dec 07, 2014 04:21 AM
Jeff Stevens
Berkshire Hathaway HomeServices New Mexico Properties - Las Cruces, NM
Jeff Stevens, Associate Broker/REALTOR

John McCormack - Yeah, that is what I really fear. Getting all the way to the end and then everything just falls apart.

Dec 08, 2014 12:15 AM