Do you know what the most common name in America, or perhaps the world, is? Undisclosed Recipient.
From another inductee into the Realtor&174; Hall of Shame, yesterday I received a most exciting offer. “Mr. Realtor”, as he calls himself, had this to say:
When I was in the trenches, I always tried VERY hard to spend at the MOST 3 hours with a buyer AND sell them a home. It didn’t work EVERY time, but it did work MOST of the time.
Now, this just impressed the socks off of me and made me proud as punch to call myself a Real Estate Professional. After all, my goal when assisting buyers is to sell them something in record time so that I can move on to my next victim sucker easy mark client.
I understood one fact…
I am suddenly riveted to my computer screen, as I sense the voice of authority coming my way.
The more houses a buyer sees, the more confused they get – and you along with them. Let’s be honest. After you show 10 homes, no one remembers much.
Amen, brother! I just get all those silly houses confused. I saw eight homes during the Broker Open House yesterday, and I’ll be darned if I can remember one from the next. Yet, I know all the words to the Green Acres theme song, and I managed to put my socks on the right feet this morning. Go figure.
Mr. Real Estate is shopping his book “Secrets of Selling a Home in 3 Hours or Less”. Wind-up, pitch:
You’ll discover how you can “program” the buyer in your office first. In the book you’ll see how they buyers were “pre-sold” in the office.
I have to wonder if “they buyers” knew they were being programmed. I also have to wonder how one sleeps nights promoting the showing of “less” houses in the name of making a fast buck.
The message from Mr. Real Estate got progressively more painful. It involved a P.S. (suggesting that you “sell” the buyer anything even if he can’t afford it, or someone else will), a P.P.S. (announcing the must-attend upcoming seminar), and a P.P.P.S. (he will be revealing the “PRICELESS… secret” to those who attend).
If there is one buyer out there who is still reading this (rather than out painting mustaches on the faces of every Mr. Real Estate on every bus bench in America), allow me to let you in on my little secret. And, as an added bonus, I will not make you buy a book or attend a seminar, because that’s just the kind of magnanimous girl I am. INTERVIEW YOUR AGENT! In fact, interview several, and select the best. Heaven knows you have choices, thousands of them. Align yourself with a professional who wants to advise and represent you, not program and sell you.
There has been a lot of discussion here lately about Glenn Kelman’s Consumer’s Bill of Rights, and I do not disagree with the prevailing opinion that it was a transparent self-serving gospel for the Church of Redfin. However, the concept of a Buyer’s Bill of Rights is not without merit. Why is it that sellers view the process as all business, yet buyers see the process as the ultimate shopping trip with the agent as tour guide?
With the obvious exception of past clients and client referrals, every listing appointment I attend feels like a Harvard entrance exam, and it should. I am expected to demonstrate my value, my professionalism, my knowledge, my modus operandi (yikes – Latin!) and earn the honor of representing the client in their sale. And at the risk of sounding overly saccharin, an honor it is. Yet, in ten years, I have been “interviewed” in a competitive situation by a potential buyer a whopping total of three times.
I am not going to get into the value I bring to the buyer. As a real estate agent (and a damn good one), you know where I stand on that. What I am going to promote is the idea that buyers need to take some responsibility in the home-buying process. If you agree that representation is in your best interest, and you understand that you are not buying a pair of shoes but instead facing an enormous financial and personal decision, treat it like a business. Before you shop for homes, shop for an agent.
P.P.P.P.S. It is “3 hours of FEWER”! This annoys me so much, that I resist standing in the “10 items or less” line at the grocery store with a single head of iceberg just out of principle.
Phil Hoover says:
Kris ~
I share your disdain for this approach, but I do employ a tactic that allows me to show “less” (sorry, couldn’t hep myself!) homes 🙂
And, that is previewing for my buyers.
Few agents are willing to invest the time, energy, and gas dollars to do it, but I am a firm believer.
I helped someone from down your way buy a beautiful 3,100 sq. ft. home here in January for $434,900.
I worked with them for four months as they used my IDX search capability on http://www.BoiseReal.com, and previewed 33 homes for them.
We had it narrowed down to two homes before they flew in, and they bought the first one they viewed because it was a perfect fit for their needs (we knew that before they arrived, so it was a simple matter of confirming what they already knew).
I did a lot of work for them, was able to eliminate the stinky homes, homes with oil-leaking beaters in the driveways, homes on busy streets, homes with mispresentations in the listings, etc., and made it easy for my buyers.
Plus, THEY asked me if they could please sign a buyer rep agreement to ensure that they would be able to work with me, so I knew I had a loyal buyer.
Yep, there IS a way to show “less homes”.
Who sez I ain’t got no good gramma, huh? 🙂
Gotta run ~ late for my English class.
April 11, 2007 — 8:38 am
Kris Berg says:
Phil – At what point in the process did you “program they buyers”?
April 11, 2007 — 9:15 am
Jeff Turner says:
Kris… this was hilarious! Thank you. I needed a good laugh this morning. Unfortunately, the fact that it actually happens is not as funny as your post.
April 11, 2007 — 10:29 am
EA says:
Great post.
Just wanted to quibble about the less/fewer. Fewer is for countables, less for uncountables. So fewer hours, less time. If the title was “Secrets of Selling a Home in 1 Hour or Less”, you’d know the “less” was referring to time, and less would be correct. When you’re talking about three hours, it might be “less time” or “fewer hours”. Obviously when talking about the houses themselves, its “fewer” because houses are countable.
April 11, 2007 — 11:18 am
Kris Berg says:
I beg to differ. Since he was talking countable hours, it is “fewer” hours. In the case of “3 hours or less”, “less hours” is the understood message, which is clearly wrong. To suggest otherwise would imply that when I say “one stupid blog post or less”, I mean “or less superfluous repartee”, which I clearly do not. 🙂
Done quibbling.
April 11, 2007 — 11:43 am
Todd Tarson says:
Phil already hit the nail on the head, the technology already exists to help buyers make decisions. The problem from the RE community is that the ‘Mr. Realtor’ view on things still seems to be the tradition in many cases.
To be an adviser, representative, or agent is the most transparent way to offer a valuable service to the client, yet many are still entrenched in the ‘old school’ if you will. Wanting to protect what they think is ‘their own’ information to share only when it benefits them.
Wrong!!
Again the technology already exists to help spread the word of your latest listing to the far reaches of the planet. Why Greg is creating his own zillow.bot or whatever is beyond me, but I actually think I know why he is. The truth is he shouldn’t have to… our friendly RE leaders should already be giving their Members this kind of service. This kind of service would also help… wait for it… the clients. You know the ones that make our business… relevant.
April 11, 2007 — 3:41 pm
Brian Brady says:
“You’ll discover how you can “program” the buyer in your office first.”
I just thought I hated shopping. Someone snap their fingers so I can come out of this trance.
Sheez ! It’s one thing to practice such tactics but bragging about it?
April 11, 2007 — 9:08 pm
Maureen Francis says:
Kris,
I think this is why I work with more sellers than buyers. Sellers almost always interview the agent before they hire. I like the process. Like you I am honored to be given the opportunity to represent. Buyers tend to go with whoever answers the phone first, or their Aunt Millie’s best friend. Since they don’t feel like they are paying, they don’t do their due diligence. But they can pay dearly. Good stuff, as usual.
April 15, 2007 — 7:43 am