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If they are looking at 55-60% BELOW your average price in the area, how are there so many houses for them to see? In my market, to be that far below the average, there would be 1-2 listings in a HUGE radius, period. And they'll be $h!t holes. They like one or they sit and wait for perfection as prices go up and never get to buy, or they up their price range to reality.
You can't be sugar coating their situation. You need to be blunt with them.
Yes. This. The conversation should've been had before the "looking" at homes ever began. We had a tough (small) budget for the area we were looking in. Our agent was practical and realistic with us before we ever started looking at homes. She told us what to expect and we explored several towns/areas before finding a house we loved. If the conversation was never had beforehand, how can the OP be mad at the clients for looking?
Yes. This. The conversation should've been had before the "looking" at homes ever began. We had a tough (small) budget for the area we were looking in. Our agent was practical and realistic with us before we ever started looking at homes. She told us what to expect and we explored several towns/areas before finding a house we loved. If the conversation was never had beforehand, how can the OP be mad at the clients for looking?
We did have the conversation. And I'm not "mad". Just asking for input from other agents.
We had starting ground rules & assumptions before our first outing. But they keep changing those. For example, they said a separate laundry room would be nice but not a must have. But then they ruled out every house that didn't have a laundry room. Same for double sinks in master bath, etc. So we need to regroup and update the "must have" & "nice to have" attributes and go from there.
However, here's an update. Yesterday one of my teammates showed him a couple of houses he wanted to see. The floors were uneven & unlevel and he said they weren't up for dealing with those kinds of issues. My teammate said "so this is a no." He confirmed. But then proceeded to look at the rest of the home, backyard, etc in great detail. Even though there was zero chance that would be the house.
If they are looking at 55-60% BELOW your average price in the area, how are there so many houses for them to see? In my market, to be that far below the average, there would be 1-2 listings in a HUGE radius, period. And they'll be $h!t holes. They like one or they sit and wait for perfection as prices go up and never get to buy, or they up their price range to reality.
You can't be sugar coating their situation. You need to be blunt with them.
Our Area has an average sales price of around $200k. Average. There are a whole lot of listings between $100k & $120k. 60% of our market's sales are below 200k. The other 40% is everything 200 & up. There are lots & lots of homes in the buyer's price range.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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I had a woman with a young child when I first started in 1979. Showed her everything on the market. Her kid peed on the cloth seat in my new car. OK bad enough, I called her the next day with a new listing and she told me they bought a FSBO two weeks earlier and she was just wanting to see what else was on the market.
I had a woman with a young child when I first started in 1979. Showed her everything on the market. Her kid peed on the cloth seat in my new car. OK bad enough, I called her the next day with a new listing and she told me they bought a FSBO two weeks earlier and she was just wanting to see what else was on the market.
Yes. This. The conversation should've been had before the "looking" at homes ever began. We had a tough (small) budget for the area we were looking in. Our agent was practical and realistic with us before we ever started looking at homes. She told us what to expect and we explored several towns/areas before finding a house we loved. If the conversation was never had beforehand, how can the OP be mad at the clients for looking?
But you were a reasonable client, She's not dealing with a reasonable one. Someone who says the home is a no because the floors are bad and keeps looking at every other detail of the home is just wasting time. Maybe something is mentally wrong with them and they are just seeking attention.
I had a woman with a young child when I first started in 1979. Showed her everything on the market. Her kid peed on the cloth seat in my new car. OK bad enough, I called her the next day with a new listing and she told me they bought a FSBO two weeks earlier and she was just wanting to see what else was on the market.
There are spoiled disrespectful dishonest people who want to waste your time. I'm sure Karma got to her.
But you were a reasonable client, She's not dealing with a reasonable one. Someone who says the home is a no because the floors are bad and keeps looking at every other detail of the home is just wasting time. Maybe something is mentally wrong with them and they are just seeking attention.
Bingo. I really believe this is his entertainment. HIs wife is working out her notice in a neighboring state and he is in town staying with his son who is at work all day, so this is how he's passing time.
This morning I found 6 new listings, all that meet his criteria (at least the criteria we know about) and are within his price range. I've checked them out on Google maps & street view to make sure there are no visible objectionable items. I'm not telling him ahead of time the properties we are seeing, I'm just gonna drive and hand him the info sheet as we walk in each door. If he shoots all these down, then I'm gonna talk to him about just how motivated they are. (they said they'd like to close before Christmas)
Any ideas for dealing with this buyer? He & wife are relocating here from a city about 3 hours away. The husband is in town, not working and thinks he is the only person in my world. I've shown him about 20 homes, plus previewed another 10 or so. Last week I was busy with another buyer for 2 days so I passed the serial looker off to one of my teammates. She showed him about 10 houses. He & his wife come up with a reason not to like each & every house. The problem is that their budget is 55-60% of our area's average sales price. And they are looking for perfection. Every day he texts me 6 or 8 houses he hasn't seen & asks when we can go looking.
I know they want to move here to be close to son & grandkids. But good grief, how do I tactfully let him know that they won't find perfection in their budget??? If we get out of the car at a house & neighbors dog barks, the wife is done...rules it out before seeing it. Small master BR? Off the list. Single sink in master bath? Off the list. Neighbors too close? Off list. Too many trees in yard? Off list. They're in their 50s & have owned homes before and are coming here from a more expensive market, but their expectations are unrealistic. I've communicated this to them as tactfully as possible but I don't think they get it. And it's BR day they're thanking me profusely for being so patient with them, the next they're making comments about me not responding to their texts. And the guy made a comment yesterday about me "passing him off" to someone else last week for 2 days. I thought I was doing him a favor by getting one of my teammates to show him property while I was busy!
I know this is the first of many crazy stories I'll have, but good grief! Any advice???
(2nd paragraph ).......the barking dog is the only thing that might not have been discovered by a driveby or the prospective buyer checking out the house online.
neighbors too close, too many trees in yard......the prospective buyer could have easily noticed that by a drive by on his own!
small master bedroom, single sink..............the prospective buyer would have noticed that when he read the brochure or checked on line.
A buyer should do some research on their own and notify their realtor with a paired down list that already passed their criteria.
Stating..........."show me everything in this price range ".....is just wasting a realtor's time.
(I would state wasting the prospective buyer's time but that seems no concern of the buyer )
Can you afford to play along?
Do you have a buyers agency agreement that ties you to service?
Is this couple from a regular referral source that you have to satisfy that you did 110% effort and that you made the buyer happy, so you can get future referrals?
Is that 55%--60% of average sales price your typical closed sales price, or a price range you prospect in for business?
You don't have to work with every buyer, and extreme unrealistic desires coupled with demanding attitude sounds like a potential deal breaker to me.
"I hope you can appreciate that I had to serve a client who is ready to buy, and had to prioritize my time. When you are ready to buy, you will receive the same priority."
Their response may lead you to:
"I appreciate the trust you have shown me, and the opportunity to serve. Unfortunately, we don't seem to be a productive team. I believe that another agent may be a better fit for you."
Notice that there is no "I'm sorry," or other admission of guilt or ineffectiveness in either of those lines. It takes two to tango.
Agree 100%
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