Sun, Sand, Shopping and Annoying a Realtor
Submitted by Mr Real on February 12, 2009 – 8:53 pm5 Comments
What it is about tourists that makes them want to go look at property while they are on vacation? I don’t get it. The last thing that I would want to do on vacation is go look at real estate that I am not going to buy. Go play on the beach, shop, eat, drink alcohol, be silly, golf, take naps, spend your money but don’t go into a real estate office and ask the poor schmuck to drive you around to look at property when you have no intention of buying.
It is disrespectful!
Realtors don’t get a salary and only make money when you purchase something. When you waste their time you are preventing them from working with a serious client. Gas and time isn’t cheap.
Show a little respect. If you want a tour guide go hire a taxi driver.
Mr. Real
Dear Mr. Real,
You must be the best darned agent ever seen, given the ability to identify a serious buyer vs one who wants a free guided tour.
My wife and I frequently look at local listings while on vacation In Fla. We don’t go into an agent’s office and ask to be driven around, but our interest is driven by the idea that we like vacationing in the area and we would seriously consider relocating. Perhaps a good agent would push us past the point of “just looking”.
I have purchased five homes in my life and have had all types of experiences with agents, notably, those agents that did not take me seriously. It is a pleasure to think of the commissions that they lost on my purchase and those others they deemed as “not serious”.
If you want guaranteed sales may I suggest the take out window at McDonald’s?
Oh, I have been doing this long enough to usually spot a buyer from perpetual looker. It is not as easy you think. I feel sorry for the newer agents who are slow and more willing to provide that tour for the slim chance of sale.
I didn’t mention guaranteed sale. I just wanted the losers out there who have no intention of buying to be more respectful of an agents time.
Mr.Real,
You have brought up an excellent point and you will be most helpful if you could tell us the tell tale signs of a buyer (i assume you mean possibly a buyer) versus a perpetual looker.
If you can tell a certain buyer then you can tell a guaranteed sale.
I won’t paint all buyers with one broad stroke because there are exceptions to everything. But, here are some common traits of a real buyer:
They will typically do some homework before they arrive. Even if it is just a brief conversation on the telephone with a Realtor, spend some on the internet looking at homes or scanning through a real estate magazine. Lookers generally do very little work prior to wanting to see homes.
They are not afraid to get pre-approved for a mortgage or produce a document showing that they can pay cash for what they are looking for. Lookers generally want to go look at property prior to even thinking about how to pay for it.
If they are very unfamiliar with the area they are not afraid to grab a map from a Realtor and drive themselves around to learn the area. A home purchase is a large decision. If someone is unwilling to do some legwork on their own or familiarize themselves with an area or neighborhood without a Realtor then they probably aren’t that serious.
They are usually very thoughtful of a Realtor’s time. Lookers get upset when you can not accomodate their schedule to look at real estate.
Real buyers come to town with the intention of looking at property first and then everything else second. If their schedule is to enjoy the beach, dine out, golf, tennis, go shopping and when done with all of those fun things spend a few hours touring real estate with a Realtor then they are probably not that serious.
Real buyers accept the fact that the entire market determines a properties price. If a newer condo on the beach starts at million dollars than a real buyer will recognize that and adjust accordingly. If they cannot afford a million dollars but still wants to own a condo on the beach in Sarasota they will adjust their expectations. A looker will tell a Realtor, “if you see one of these million dollar beach front condos for $500,000 then give me a call.” At wholesale prices everyone is a buyer.
A real buyer usually has been to the area before. Not too many people purchase on their first visit to town. It does happen but not that often.
A real buyer will usually have no problem sitting in a conference room for an hour or so going through the photos/details of MLS to weed out properties. Lookers usually can’t be bothered with all of that and just want to hop in the Realtors car to go look at property.
Lookers usually want the Realtor to drive them around. Rarely will they follow the Realtor in their rental car.
I hope this helps Bob. There is more but I am out of time.
Mr. Real,
This is excellent and more than enough. It is a good education for all buyers, agents and sellers.
I appreciate your time.
Thank You.
Bob