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A new way to qualify buyers

By
Real Estate Agent 0488515

I love teaching real estate coursed especially continuing education as I always learn something when I teach this class.

Recently there was a student who did not live in the area, but had to come some distance to attend the class.

This individual said that now when he works with a buyer he charges them a daily fee to show them homes.  If they close on a property he then refunds their money.  He said that this is a great way to separate the serious buyers from the tire kickers. 

Makes a lot of sense to me, just wonder if any of you are doing the same thing?

Show All Comments
Geoffrey Davis
BANK of the OZARKS - Frisco, TX

yikes- I can't see this as something I would want to pay.

Sep 28, 2008 03:17 AM
Steve Shatsky
Dallas, TX

Hi Richard... I think this would be a tough sell in a marketplace where almost all agents will drive you around and not charge an up-front fee, but then again, I said the same thing about transaction fees for sellers and most people are not opposed to them.  How much did he say that he charges them?

Sep 28, 2008 01:43 PM
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

I have to agree with Steve.  There are too many agents that will drive you around and not charge a fee.  What does this agent have to offer that another agent doesn't?  He would have to show this advantage to the customer before they would agree to pay this fee.  Good luck to that guy/gal.

Sep 28, 2008 02:56 PM
Karen Staha
Gaston & Sheehan Realty - Round Rock, TX
CRS, GRI, ABR, REALTOR, Austin & Surrounding Areas Texas

This might be something that works for his market area but not in Austin.  I can pretty much weed out the serious buyers from tire kickers before investing much time into them, and I think most of us do the same.

Sep 28, 2008 03:36 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Davis Family Lending,

Thanks for your comments.

Steve,

 Thanks for your comments He said he charged $50 per hour, and since the buyers know they are going to get it back if they buy he has no problems.

John and Karen,

Thanks for your comments.  Perhaps you are correct there are many agents who will play taxi driver. 

 

 

Sep 28, 2008 09:18 PM
DJ Swanepoel
Real Estate Wiki - Los Angeles, CA

I actually like that idea; especially if you just put the money you get into an account that you can refund later on if they choose to look at the house. However, I wonder if it only works because of his location?

Sep 30, 2008 08:36 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

DJ

Thanks for your comments.  It probably had something to do with his market area.

Sep 30, 2008 11:22 PM
Ed Newman
Alamo Infrared, LLC - Midvale, UT

Thanks for this great information, I will be sure to pass it on

Sep 27, 2010 10:36 AM
Dave Sullivan
Real Estate One - Birmingham, MI
Michigan Realtor with an investor viewpoint

Very entertaining post I will share this info with friends thank you 

Dec 16, 2012 09:04 PM
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