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Are You a Skimmer?

By
Real Estate Agent with Dirt Road Real Estate SA676002000

In a recent webinar one of the moderators made this statement about Realtors who avoid risk by “skimming the cream” These individuals or skimmers look for the easiest sales or listings and potentially ignore risker sales leads even if they are qualified buyers or sellers.

 

The more I pondered this statement, the more I realized there is some truth not only for salespeople who are Realtors, but those in all industries.

 

Sure, it is easier to be a skimmer by skimming the cream, to take the easiest and therefore presuming the most profitable sales engagement. Let others fight over those risker sales interactions.

 

For example, in real estate possibly the buyer has some credit issues which could delay the purchase of the home versus one whose credit is excellent. What does the ethical Realtor do? Where does the ethical Realtor place all of her or his energies? Then there are all of those contingency sales offers versus non-contingency sales offers.

 

With the ongoing changes in the lending market specific to credit scores, down payments, etc., my sense there may be more skimmers “skimming the cream.” Working with potential buyers and even listers who appear to be “cream of the crop,” will definitely reduce the time investment by the Realtor especially for those Realtors who have experienced a decline in income due to the pandemic. Afterall, Realtors are human and must meet their needs and wants.

 

My question has always been “How can I support the sales lead, customer or client to rise to the top?” What do I need to do to “protect and promote” not only my clients as per the Code of Ethics, but my customers as well? For those who “skim the cream,” my sense is these skimmers possibly are walking a fine line respective to the Code of Ethics. My personal belief is the Code of Ethics should be maintained by the highest behaviors in ALL interactions.

 

Graphic Courtesy of Pixabay.com

 

Posted by

Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
Connect with me on LinkedIn:
http://www.linkedin.com/in/leannehoaglandsmith
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Leanne Smith  not every buyer is a slam dunk and not every listing sells quickly..... but there is a line one needs to draw IF their flow of business is stable and consistent....

it's not good business sense to spend time with a buyer who is qualified for a loan that will take 6 to 9 months to close because of the special terms.......Farmers Home Loan comes to mind.... I don't think that loan exists anymore, but when it did I found it for a buyer.... after 9 months, the buyer was denied for something unreasonable and not negotiable.....at that point, I became very selective with the clients I represented.... and that's a good business decision...nothing to do with ethics.... 

May 15, 2020 07:16 AM
Leanne Smith

Barbara I agree decisions must be made. What I also know is nuturing prospective buyers is also critical to keep the pipeline flowing.  So appreciate your perspective.

May 16, 2020 08:09 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Leanne - you raise an interesting point. And I can see this developing into a discussion where strategy may not be the primary reason but a part of the process.  As Carol Williams might say this is an example of a pondertunnity.

May 15, 2020 07:24 AM
Leanne Smith

Michael Jacobs Good morning and I must Carol Williams comments about "pondertunnity." Strategy should always be part of the process.  IMHO

May 16, 2020 08:12 AM
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

As you say Leanne Smith every industry has "skimmers". I think it's all part of the process AND who doesn't want a slam dunk, if there is such a thing?

May 15, 2020 07:46 AM
Leanne Smith

I am not sure there is a slam dunk in any industry. My sense is in real estate there appears to be a focus by some on skimming the cream.  Thanks Doug Dawes for your comments.

May 16, 2020 08:10 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Leanne Smith - it is very easy for me to spot a skimmer.  I don't refer them anymore.

May 15, 2020 06:37 PM
Leanne Smith

So true, Grant Schneider Much like those LinkedIn invitations which are sales pitches.  Thanks and good morning.

May 16, 2020 08:10 AM
W. Cavin Weber
Dream Key Team - Austin, TX
Making Dreams Come True One Key At A Time!

I LOVE working with first time home buyers, USDA and VA loans are exciting and you can never count on that closing. You have to work for these deals and the end result is so satisfying. I love and accept those challenges!

May 15, 2020 07:11 PM
Leanne Smith

Agreed, W. Cavn Weber about how these types of transaction are full of twists and turns.  Yes there is a lot of work to have successful closings. And as you stated "the end result is so satisfying." Thank you for commenting.

May 18, 2020 05:25 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

There is definitely validity in what you refer as  a "skimmer."   I' help most clients that need help, if I can help them.  I've also worked with buyers to add energy efficient upgrades into a mortgage to lower a utility bill at less cost than adding a few dollars to the mortgage, so I"m no skimmer!

May 18, 2020 03:32 PM
Leanne Smith

Sometimes the most rewarding sales are those that take time. My sense is this boils down to one's purpose.  If it is only to make as much money as quick as possible, then that might explain the skimmers. Thanks Jan Green 

May 19, 2020 11:22 AM
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Leeanne I certainly have not considered myself a skimmer after all the years in this biz! Some clients I've worked with are on a 6 month to 1+ years timeline and maybe longer. But I know them and they are most likely a previous client and/or referral.  In the meantime I keep sending them listings to keep them abreast of of the market and they're on the A list for newsletter and holiday cards etc.

May 19, 2020 03:19 PM
Leanne Smith

Anna Banana Kruchten Arizona's Top Banana! Never did I ever think of you being a skimmer.  And I expected many of your clients to be long term.  Thanks for sharing, take care

May 20, 2020 05:45 AM