There's a new phenomenon here in the Birmingham / Bloomfield Hills market. Well, maybe it's not new..... and maybe it's just a phenomenon to me. Either way, it's shocking none the less!
The past 2 years, the majority of my business is listings. Obviously, open houses come with the territory. I usually have 3-5 houses open every Sunday. In the past, I'd have all the newer agents at my office lining up to hold open one of my listings.
Recently there has been a shift. Agents are willing to hold houses open; they just want to be compensated for their time. Not just with me, with anyone looking for help with open houses. I find this shocking for a few reasons. First I want to be clear that I don't mind paying people. I'm a capitalist and paying for a service isn't a problem for me.
OK, with that being said, let's talk about what's upsetting here. It's surprising to me that people aren't willing to do everything necessary to make a sale. The market is very soft here. Every listing I'm looking to have held open is offering 4% to the selling agent. To me, it's a no brainer. I look at open houses as a sales opportunity. I don't care much for open houses, but I do get business from them.
I don't work the floor shifts, but I've been told that floor calls have gotten fewer and far between. What are new agents doing to get business? What kills me is that I pay these agents for their time and they GIVE ME the sign in sheets. So basically, these agents are handing over potential buyers. Yes, some people put felonious information on sign-in sheets, but not everyone does. I follow up with these prospects; send thank yous, emails & links to the virtual tours.
I guess if this general malaise continues with some of my colleagues, it will ultimately weed out the lesser ambitious agents, leaving more business for those of willing to work.
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