I showed a buyer homes in Midtown, Sacramento, last weekend. As we drove, the buyer asked me what I thought of my fellow REALTORS. That sounded like an odd question, so before answering, I probed. He said that when he bought his first home, he looked at more than 20 homes with four different agents. The reason he kept changing agents was because if he didn't buy a home during the first tour, the agent lost interest and dropped him.
The question he asked implied that agents are only out for themselves. That's the part that bothered me. I believe that when an agent accepts a client as a buyer, that agent has a duty to perform to that buyer's expectations. If it takes showing 20 homes or even 100 homes, then we show 20 or 100 homes.
Of course, previewing homes before showing, counseling the buyer and selectively choosing the homes that meet the buyer's objectives cuts down on the number of homes a buyer needs to see before coming to a decision to make an offer.
In reality, though, I showed this Midtown buyer 5 homes before he chose to write an offer. However, I have worked with some buyers for several years to find that perfect home. That's what agents do.
The Short Sale Savior, by Elizabeth Weintraub, coming June 2009.
Photo illustration: Flickr
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
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The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
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Elizabeth,
So true...they deserve our best...we should treasure our buyers...especially now! I know I have to brave about 6 inches today with a cold to show...
We all have had clients that seem never ending. I just closed with a couple that I had worked with for about a year. We started to look last spring they just did not find anything. They were going to have another child last summer, she said I'm not up to any more right now. I just stayed in touch and right after the first of the year. They called and said we are ready. All it takes is a quick phone call to stay in touch.
Hi Elizabeth: Last year I showed 135 homes to a client over the course of six months. Several of these homes were shown twice. I wrote three offers during that time (the last one stuck, thank God). In spite of all the time and trouble associated with this search, I never lost my focus which was to help the buyer find the right home for her - one that satisfied most of her home-buying criteria. And, in this case anyway, I never thought to "kick her to the curb" because it was taking too long to put a deal together. I know she would eventually buy a home. Sometimes it just takes longer to get the job done. In the end I probably made very little on the deal, but I know I've EARNED a client for life.
Elizabeth,
Tailoring our service to individual clients has always been the key to success. Whether its 1 house or 100, that's part of the job. There is no magic number.
7 years is my record with a client. He was active duty Navy and had the rare weekend to come and see property although we ALWAYS kept in touch via email. His in law lived about an hour away and he knew they did want lake property in this area. Finally it happened. They found THE home they were looking to find. Not only did they buy the lake house, they bought an investment rental across the street. Couple years down the roaa I sold the "investment" house for them. I got to know them and love them. Went from just the couple to plus 2 children in the 4 years. They hired me and I did my job.
You are spot on with this post. It's not about the agent when you take on a client, it's about the client.
It all depends on clients. I worked with clients last year, who were busy people and were upset that they could not find a house in two weekends.
Elizabeth
Nice montage! Sometimes it is not so much how many homes, but the qualifying that really counts.
Sincerely
Tom Braatz
Every buyer is different I have had them want to drive by every home before they look and other want to have me show them everything on the market. With current technology it can be very useful to have them preview on line and at least minimize the number.
Elizabeth - I don't have a certain number. It's different with every buyer, but it's usually more than 5! :)
You show them homes until they find the one, period. It's our duty. The smarter we are the shorter amount of time this takes.
Wlizabeth,
Not that I am very happy with that, but i have a client who is off and on looking for a bit over two years already.
he is not playing us, that's the way he is, so we wtill with him.
I like to think we interview thoroughly and do as much education...ie hot water heat means no air conditioning...stairless is no basement...etc. that the list gets shorter, buyers and realtor..much happier.
Elizabeth - Last year I had a client that probably hit my record for number of properties shown, before they bought. We were in the car together on at least 6 occassions, and likely viewed about 40 properties or so, before purchasing. They were very certain about the part of town they wanted to be, and wanted a home in good condition, in the $200,000. range. It was slim pickins' trying to meet their criteria.
On one of the last excursions out, the buyers apologized for being so picky and for wasting my time. I quicky explained to them that there was no such thing as wasting time while showing property. . .Afterall, I was enjoying good company, and I was viewing inventory at the same time. When you stop to consider that we are increasing our own knowledge about the marketplace, when we show property, than wasting time is an impossibility.
Sometimes we show a 100+ homes and once in awhile only a few. In my guesstimation it averages out somewhere around 15 to 20 homes before "the one" is chosen. However, you're right, if we do the pre-work a buyer will usually arrive at a decision sooner.
Elizabeth, I love the pictures of you in different colors. Liked the blog too!!
Elizabeth, maybe all those agents had HDAD! LOL Seriously, that type of agent rarely stays around for more than a few years. Unfortunately, this person found several of them before finding you! I have a lady I have been working with since i started in real estate who is planning a move to FL from San Francisco - someday. 9/11 threw her plans back and then a family member was seriously ill, but someday she will buy!
Hi Myrl: I'm with you. Showing homes is never a waste of time for the very reasons you mentioned. Good company, fun conversation and intriguing homes to view. I always learn something that will help me later on. I don't press buyers to buy. I just point out the good and bad, try to be helpful, share knowledge and enjoy the experience.
Hey Barbara: That's the warholizer from Flicker. Pretty cool, huh? You can go to flicker and get your own.
How many homes? Until they find the right one.