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I was talking to an agent who sells exclusively high end homes (several million) and he was saying that the high end market can be very difficult as the buyers are quite picky and the inventory very specific.. For example, if you had 15 million to spend on a house, would you want to redo the indoor basketball court and make it a pool? Or would you just pass and build your own/find something that was closer to what you wanted? Of course the very high end buyer means very high end commission if the sale goes through.
I have heard that first time buyers also require loads of effort as they are new to the process. Their pockets may not be as deep as other buyers, so the pay off for the agent might be quite small.
Agents, what kind of buyer requires the most effort to get through to the closing table? What is the lowest return on your investment? Is there a category of buyer or price point that you avoid or prefer?
I was talking to an agent who sells exclusively high end homes (several million) and he was saying that the high end market can be very difficult as the buyers are quite picky and the inventory very specific.. For example, if you had 15 million to spend on a house, would you want to redo the indoor basketball court and make it a pool? Or would you just pass and build your own/find something that was closer to what you wanted? Of course the very high end buyer means very high end commission if the sale goes through.
I have heard that first time buyers also require loads of effort as they are new to the process. Their pockets may not be as deep as other buyers, so the pay off for the agent might be quite small.
Agents, what kind of buyer requires the most effort to get through to the closing table? What is the lowest return on your investment? Is there a category of buyer or price point that you avoid or prefer?
For me, it isn't a price point, but personality. I find the most difficult buyers are the ones who don't seem to understand or care that I have other clients or a family. Impatient clients are the most difficult for me. I think the record was one who called me 14 times in a row because I wasn't picking up when he wanted to talk to me. I was writing an offer with another client at the time and the phone kept vibrating which was annoying so I picked up the phone. I had to end my relationship as his agent after that.
I have my iPhone set to an automatic responder when I drive for texts, so they get a notice that I'm driving. When I stopped, I had 5 texts in a row from a client angry that I wasn't answering his texts over a period of one hour. I do address the fact that I don't text and drive during my buyer consults so they need to wait. There is a lot of driving in real estate.
I also find engineers can be difficult to work with as they tend to be overly analytical and can drive their spouses batty during the house hunt. I had one where the wife got so upset she stopped talking to him about houses and wanted me to be the go-between. Um, yeah, nope. We looked at almost 100 houses together before they bought.
I actually find most first time home buyers to be great to work with. All of my difficult, for me, clients have been experienced homeowners.
For me, it isn't a price point, but personality. I find the most difficult buyers are the ones who don't seem to understand or care that I have other clients or a family. Impatient clients are the most difficult for me. I think the record was one who called me 14 times in a row because I wasn't picking up when he wanted to talk to me. I was writing an offer with another client at the time and the phone kept vibrating which was annoying so I picked up the phone. I had to end my relationship as his agent after that.
I have my iPhone set to an automatic responder when I drive for texts, so they get a notice that I'm driving. When I stopped, I had 5 texts in a row from a client angry that I wasn't answering his texts over a period of one hour. I do address the fact that I don't text and drive during my buyer consults so they need to wait. There is a lot of driving in real estate.
I also find engineers can be difficult to work with as they tend to be overly analytical and can drive their spouses batty during the house hunt. I had one where the wife got so upset she stopped talking to him about houses and wanted me to be the go-between. Um, yeah, nope. We looked at almost 100 houses together before they bought.
I actually find most first time home buyers to be great to work with. All of my difficult, for me, clients have been experienced homeowners.
Seconded. The engineers can test your patience, but for me the worst ones though are the ones that don't listen, create issues that I have to clean up because they don't listen, and then get mad at everyone else (me included) for the problems they created. They are usually the very direct people that are also know it all's. Fortunately, they are few and far between.
I can speak for myself. The more one tries to sell me on something the more they steer me away from buying. I'm the type to buy it after I've done enough research of my own. I don't need a sales pitch.
Jees, we must be the dream client. We find our homes on Zillow and ask our realtor to negotiate and close. We've bought 2 homes in the past 7 years and our realtors showed us 0 homes lol.
I think we accidentally turned into high-maintenance buyers... but only after we realized we were dealing with flaky sellers and their inexperienced agent, and got sick of being lied to and misled. At that point, I think we probably called our agent every day until closing,because he seemed to be the only one who had his act together.
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