Pat Kennedy - Your Washington, DC Real Estate Connection

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WORKING WITH CONSUMERS WHO HAVE UNREALISTIC EXPECTATIONS! When to cut bait.

As the year comes to an end, many of us are doing a sort of house cleaning, getting rid of the excess junk in our offices and the excess buyers who are unrealistic or just decision-making impaired.  So with that in mind, Lenn gives her usual great advice on letting go, at least of those buyers who are never going to do it.

If you'd like to leave comments, please stop by and leave them for Lenn! 

Andelez Angie Perez writes about her experience working with a home buyer who has lost 3 homes due to circumstances not described.  However, 3 losses is not normal and indicates something systemic.  Andelez asks when to: 

Just Say No???

My response:

What took you so long???

Andelez's post is about computing billable hours and the best use of our time.  Since she doesn't detail the situations that cause her buyer/client to fail in her attempts to buy a home, no comment there.

Agent

However, I'm reminded of agents who persist in sticking with clients when the clients make offers with price, terms and conditions that are unrealistic. 

Buyers Can Be Their Own Worst Enemy.  Our experience is with home buyers who ignore the agent's advice about offer prices, terms or conditions.  They are often their own worst enemy.

We know our market and when a buyer looks at the limited number of moderately priced properties available, selects one and wants to "make an offer" of no more than 90% of list or 95% of comps, we know that they are more interested in "getting a good deal" than buying a home.

INVESTORS CAN "DEAL".  Investors with cash offers can play that game.  Consumers can't compete.  Investors make cash offers, often with no inspections and quick settlements.

ARE YOU LOOKING FOR A HOME??  Home owner occupant buyers often make low offers, with government financing, home inspections, and long settlement dates.

O.K.  You're writing it and you will follow through with the best presenting, negotiating skills you have.  When the Agentoffer is REJECTED AND NOT EVEN COUNTERED, that will speak volumes to you and it's a message you MUST get through to the buyer with whom you've spent many hours previewing homes.

Simply tell the buyer that you can't help them and hope they gravitate to our closest competitor.  YOU DON'T HAVE TO GIVE A REASON!!!

When an agent can't or doesn't want to SAY NO, they are quite likely losing other business while continuing to spend time trying to work with a buyer with unrealistic expectations. 

DEVOTE TIME AND ENERGY TO SERIOUS HOME BUYERS WITH REALISTIC EXPECTATIONS.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.  Serving buyers in MD and Northern Virginia.


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Comment balloon 0 commentsPatricia Kennedy • December 19 2012 09:40AM

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