7 Foolish Things Real Estate Buyers Do to Get Fired
DELIVERING HAPPINESS
As a real estate broker, I could write a book about the crazy things we see in our industry. Realistically, we are in the business of delivering happiness and it brings us the greatest joy. Tell us what you want and like a hound dog, we’ll find it. Yet at times, buyers make our job much more difficult than it has to be. My hope in writing this article is it will help build a bridge to respectful productive relationships where both the buyer and broker enjoy the home buying experience.
I also want you to share with you that even though a buyer doesn't pay upfront, out of pocket costs, brokers aren’t desperate to work with all buyers like you may think they are, the good brokers anyway. Working with the best brokers in the business who will go to bat for you requires trust and common courtesy. Please don’t ask us to introduce you to our trusted colleagues before knowing how you could potentially ruin the alliance in these ways:
THE SHORT TERM EXPERT - Due diligence is one of the smartest things a buyer can do. Find the facts. Analyze the data. Compare. Where buyers get hung up is thinking after they’ve done all this research, that they are now the expert. While buyers may hold the checkbook, unlicensed buyers are not the experts and could be shooting themselves in the foot. Realistically, until someone has toured hundreds of homes, sold hundreds of homes, combed through thousands of multiple listings and knows the inside scoop on the neighborhood trends, a one time shopper could hardly be an expert in a given area. Argue with a broker who’s trying to help you and protect you and that’s sure way to get fired.
ASSUMED TOUR GUIDE - Most of our clients aren’t exactly sure where they want to move. Will you retire to Georgia, Asheville, Greenville or Nashville? It's rarely a fast choice. I’m not sure how real estate commissions evolved into the “pay you later” compensation but the fact is, some buyers could care less about a broker’s time. It’s not uncommon for a buyer to stroll into town over the weekend and expect a broker to show them around and pay nothing upfront for it. In fact, many won’t even send a follow up thank you. It’s just expected.
One of our trusted colleagues rescheduled his family vacation to make himself available and after the buyer confirmed a time and place to meet, the buyer never showed. I wonder if the role was reversed, would buyers offer the same courtesy and give up their weekend for the hope of a sale?
Bottom line - be a tourist on your own first. Roam around and explore. Eat at the restaurants. Shop. And if the city is right for you, then connect with a broker to look at homes and neighborhoods on the next trip.
EMOTIONALLY BLINDED - Finding a family’s dream home provides deep satisfaction to both the family and the broker. Like a triggered emotion from a ‘new car smell’, it’s easy to become emotionally blinded from chocolate cookies baking in the oven of a prospective home for sale. However, a broker knows it’s not just a home that’s involved in a purchase. An seasoned broker will share with a buyer factors that may become an issue later such as a nearby growing landfill, airport expansion with potential flight path changes, 24/7 commuter trains and things like that. If the neighborhood passes the litmus test, it’s best to not ‘fall in love’ with the home until it passes all the inspections.
UNREALISTIC AGENDA - Spending over 200 a days on the road gives us a pretty good idea of the grueling effort it takes to bounce between states looking at master planned communities. Many of our clients are not quite retired yet so planning a trip to look around often takes place over a week long vacation or long holiday weekend. Driving in Florida is easy. Flat roads and lots of highways. You can cover a lot of ground relatively easily but in the mountains, good luck expecting your GPS to take you to the right place. When a buyer tells us they want to see Eastern Tennessee and the Western Carolinas over a week, we hold our breath and sigh because that isn't enough time for the three areas. Even though on Google maps, the distance is about 125 miles, we know it’s a lot to see to really determine whether Eastern Tennessee, Greenville or Asheville is right place for your retirement. Let someone like us help you plan your trip so it's a pleasurable experience.
THE ENERGY DRAIN - The internet can be our worst and best friend. While it allows a buyer to research data in advance, not all the information is readily at our fingertips on the web. This creates the need for phone calls, site visits and more research. A broker expects this and most are willing to oblige. Where things get out of hand is micro analyzing a home for sale when a buyer isn’t ready to buy for a year or so. Who cares what size the closets are in the home for sale? In today’s market, it won’t be for sale in year. Asking a broker to go see this home for sale to measure a closet is ridiculous and that’s just one example of an unreasonable request. Becoming an energy drain to a broker is the fastest way to have the broker fire you.
FAMILY DISAPPOINTMENTS - It’s no secret, many of our buyers have grandkids and are planning to relocate at retirement. For better weather, a lower cost of living, and or higher quality of life. You might be surprised to know that many make choices based on their grandkids and children coming to visit but when they discover they don’t come, regret settles in. As beach lovers and world travelers, would they have moved to Belize instead? We strongly suggest you put yourself first. Do what you want to do. Live where you want to live. Retire to Georgia if you want. Kids have school demands, sports schedules and are busy with their friends. Don’t set yourself up for family disappointments by choosing a place you think they'll come to often.
OVERLOOKING DISCOVERY PACKAGES - I’m always fascinated at how many people don’t take advantage of Discovery Packages. Maybe buyers feel like they will be pressured by a salesman or held captive. I suppose it’s possible but it’s not what we see. Discovery Packages allow buyers to stay on property, try out the amenities and catch an inside glimpse into the friendliness of a community. The cost per night is usually less than a hotel. This is the perfect way to talk with property owners and see the neighborhood during the day and night. If the community has a Discovery Package, don’t overlook the warm and welcoming gesture.
Having a real estate guide on your side who is unbiased will save you time and money. Be kind and have mutual respect. If you'd rather just stop by and read the information on our website, that’s okay too. But if you’d like some help and are willing to listen to solid advice, send us your home buying 'wish list' and let us help you plan a research trip.
