Good decision or regretful one?

By
Real Estate Agent with Exit Realty Tri-County

It didn't take me long to realize that some people have no appreciation for the time agents spend searching out properties, mapping out the route and driving all over town nor do they even consider the amount of gas it takes.

 

In the beginning of my career (which was not that long ago) I jumped at every call where there was a so called "buyer" on the other end who wanted to see a property.  I would get so excited, spend time getting as much information about the property and then either meet them at the office or the property.

 

 

Sometimes, they would lead me on for a few months looking at different things not really commiting to much- but I just didn't want to own up to the fact that they were not going to buy and were wasting my time. 

 

Is it the feeling of not wanting all that you have already done seem like a waste and maybe if you just keep showing them homes- they will eventually pick one and then it would all be worth it.  If you cut them loose and find out a few months later that they bought through another agent..ouch!!

After going through this cycle a few times I decided I just couldn't do it anymore.  I once had a wonderful speaker say "I would rather have you sitting by the pool drinking a Margarita not working than to be driving around wasting time, spending money with nothing to show for it."

So, I received a call the other day on a listing in our office.  It was a bank owned property about 40 minutes out.  I actually directed the call to the listing agent who normally deals with these type homes.  She sent it back to me.  I guess she was too busy?

 

 

I spoke with the lady for a few minutes and decided I would ask her some specific questions regarding if she needed to sell a home, price range, time frame, and most importantly if she was working with a bank or mortgage broker.

Needless to say, after her answers and weighing whether or not I wanted to drive 40 minutes to open a house she was not ready to buy, I decided to give her my information and explain to her that once she got a pre-qualification letter from her mortgage lady to give me a call back and I would be more than happy to meet her and open the house.

Have I heard from her?    No.  Did she just decide to move on to an agent that would open the home or do you think she is working on getting her letter?

I could almost feel bad for not meeting her but I don't.  I spent a wonderful day with my kids hanging out by the pool.... not wasting a few hours and gas and "I'm not quite ready yet."

 

 

 

You never know- Maybe she is working on her letter and going to call me as soon as she is ready.

I am not holding my breath.  Any turn aways you hinge on regret?

 

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Rainmaker
56,401
Sherry Lee Cox
Platinum Properties - Paso Robles, CA

Good for you!  Spending a day hanging around the pool with your family was more important than wasting 3 hours driving and showing a home she wasn't ready to buy...

Sep 25, 2008 08:45 AM #1
Rainmaker
319,878
Victor Amadi
PRODUCER Realty, LLC - Greenville, SC
Greenville SC Realtor

I know exactly how you feel Tina, most buyers call an agent and expect them to drop everything we are doing to go show them a house. Heck, sometimes they don't even show up for the appointment. I have been getting people that call me to CITO( Come Into The Office) first, so that I can qualify them before taking them out to view properties. Sometimes it is difficult if the stay close to the area where the house is. Good post.

Sep 25, 2008 08:50 AM #2
Rainer
882
Tyler Wilbanks
Synergy Marketing Group - Valencia, CA

In today's market it really seems like anyone showing interest isn't "really" interested. Especially with everything that has been going on this past week. Even though there still are lenders that are up and going the public does not understand how everything in our economy is effecting the real estate market. I think you did a great thing by not wasting your time, some times in life you have to be straight forward and tell people how it is. I'm sure they would not like it if you went to them at work and wasted three hours of their time. Keep up the hard work drinking the margaritas :) LOL

Sep 25, 2008 08:55 AM #3
Rainer
11,005
John & Linda Cramer
The Villages, Florida - The Villages, FL
John and Linda Cramer

You are so correct by doing what you did. In our area we focus in a small concentrated area. It's the only way to go. Also I ususally go into the questioning mode, all the while attempting to listen to every detail. And at a moment I can Interject by asking my #1 quesiton. And that would be as of today, Mr or Mrs Jones do you see yourself in your new home between now and Christmas?

And if the answer is yes, then I will spend more time with you, either way because of the internet, I get there email address and that's when my better half comes into play based on the basic info.
(note I usually say Mr. Mrs Buyer in order to save you time, energy, money and gas, how about I just send you some listings, to preview? And I hardly ever get a "NO"then I get the basics  3/2 4/3 sq ft... yard .. basic info. I give it to my wife, who in turn emails listings. Of course I've asked that the buyers hit the "Reply" button to ensure they are receiving them and to make sure there still alive on the other end.

Another thing we like to do is after the initial call, I have Linda call them back later that afternoon or evening, and make some excuse, like this, "My husband John and I are both full time real estate consultants and there were a few things he forgot to ask." Also she will find out who the wife is and attempt to develop a relationship with her, because we guys most always give lead to our wives in regards to finding a home. Now she has developed a relationship as well know we are both working for them. They may convey information to her that they did not to me. Now we've locked oursleves in there with them.

We call our efforts "Divisional Labor" and it really works.

Best of luck to you.. Happy Selling!

 

Sep 25, 2008 09:14 AM #4
Rainer
18,582
Sherie Earley-Womack
Choice Real Estate - Monterey, TN

Great post! It is so hard to tell if someone is just a lookie lou

Sep 25, 2008 09:26 AM #5
Rainer
47,953
DJ Swanepoel
Real Estate Wiki - Los Angeles, CA

I think making the right choice for you was the most important decision, and you got to have a great day with your kids:)

Sep 25, 2008 01:48 PM #6
Rainer
212,227
Carol Smith
Casmi Photography - Mebane, NC

Tina - I think these kinds of potential customers are a right of passage for new agents.  I know I went through a few of them before I just threw on the brakes.

In fact, I have one now that emails me all the time wanting to see this property or that property.  She did apply for a loan, but she can't qualify for a whole pile of reasons. 

When I explained to her that I could not/would not show her a bunch of homes that she is in no position to purchase she told me, "I'll get a co-signer."  Well, according to the loan officer the co-signer idea is a no go, too.  You see, her "co-signer" has credit that is as bad as hers.

She refuses to understand that if she can't buy ... I'm not going to show.  She doesn't have anything else to do all day, I do.  And even if I don't?  I'm not driving across town to open a bunch of foreclosed houses that she just wants to walk around in.

Not gonna happen.  Not then, not now.

Glad you enjoyed the pool!

Sep 25, 2008 04:33 PM #7
Rainer
23,013
Suzanne Champion
N.J. Realty - Westerville Ohio - Columbus, OH

It is more important than ever to keep "qualifying" buyers to find out if they are truly ready, willing, and able.  The lookers this year have far outnumbered the real buyers, more so than in the last few years.

Sep 28, 2008 12:40 AM #8
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Rainmaker
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Tina Allen

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