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Regardless of the market, generally yes, you show properties a client wants to see that are within their price range. I will dissuade someone from wanting to see something way out of the price range unless it's an open house or something. It helps if the agent already has their client pre-approved with a lender and has discussed other important matters before starting out the relationship.
I agree with KonaKat. It is best to work with pre-approved buyers or those who showed you they have the funds to pay all-cash.
Agents should not honor every request to show a house. The agents should be doing some pre-screening so that he is only showing the house to people who could buy it if they like it.
......... If they couldn't afford the $350, then they probably can't afford to buy a property. Even at a property at $60K..........
I spend a heck of a lot more that $60,000 for a house and if any agent wanted to charge me $350 to show me a house, I'd go on down the road to a different agent. Phooey on that.
Unless I am out of my area, I always use the same agent. I find someone where I like the way they work and they get all of my business. I also recommend them to people who ask me about agents. But I am not going to pay them a fee to show me a house.
I bought a house out of my area 2 years ago and worked with 3 different agents (in different areas). One, I bought a house from, one I send a lot of referrals to because he was excellent. The third one, I have her information in a folder somewhere, but I wouldn't go back to her because I couldn't get her to do any work. I would have been really ticked off if I'd paid her $350 and she wouldn't meet me to show me houses, didn't return phone calls, didn't send me listing information that I asked for. She had sent me MLS listings on several houses and I drove around and looked at the outsides, but couldn't get her to meet me and show the inside of the house or answer any questions about the house.
An agent in my office had the following happen last weekend:
The buyer said they had plans all day Saturday and absolutely couldn't look at any houses, so the agent made appointments for Sunday showings on a list of houses, and made plans of her own for a charity fundraiser for Saturday.
Saturday afternoon, in the middle of the fundraiser, the buyer called and said "We want to look at this house RIGHT NOW, and if you can't be here in 20 minutes, we're calling someone else" (Note: This buyer had refused to sign a representation agreement, so could have followed through).
The agent left their fundraiser and went to show the house. The clients were late for the showing they had demanded, and then still refused to sign a representation agreement, AND demanded that the agent rebate 50% of whatever commission she received.
The agent fired the client on the spot, and I don't blame her a bit.
The point being, you can't honor every showing request, because some buyers are completely unreasonable.
In Texas the difference between a client and a customer is a signed agreement. I will not work with customers. I only work with clients. Nor will I waste my time showing homes that are priced out of what they are pre-qualified for.
When I am the listing agent, I will ask the buyer's agent if they have a pre-qual letter if my client, the seller, has small children or pets and may have trouble getting ready for a showing. Now, if the property is vacant, I have no problem with Buyers talking people by. I want feedback and that's the "price" they'll pay.
I have not signed an agent agreement, nor, up until the past month, had I provided my agent any pre-qual information, though I've been working with her for two years (but mostly remotely so not a ton of time invested in me over the two year period). We told her what price range we wanted to look in, and that we could afford that range. She took us at our word. The first pre-qual/pre-approval information she ever requested was when we made an offer on a home a few weeks ago. The only reference to her contractually being our agent was in the offer document.
I would probably not work with an agent who required financial information and an agent agreement up front, unless it was customary in the geographic area. I wouldn't spend $350. I would not be thrilled if she refused to show homes to me (without very good cause). I respect her and her time, like I would anyone else, and I suppose that's why none of this has been requested.
Curious as to how often agents have run into issues showing homes that were out of a buyer's price range because they didn't acquire financial information up front.
Curious as to how often agents have run into issues showing homes that were out of a buyer's price range because they didn't acquire financial information up front.
It's not a matter of whether or not the house is within their price range. It is a matter of whether or not the buyer is actually serious about buying a house.
If they made the effort of getting pre-approved, then they are more than likely serious about buying property. Even then, many still don't buy. It is a matter of, do I show homes to person who has done their due-diligence or a person who hasn't.
Many times, if they don't have their pre-approval, I give them a list of mortgage brokers. Then tell them to give me a call back when they do.
An agent in my office had the following happen last weekend:
The buyer said they had plans all day Saturday and absolutely couldn't look at any houses, so the agent made appointments for Sunday showings on a list of houses, and made plans of her own for a charity fundraiser for Saturday.
Saturday afternoon, in the middle of the fundraiser, the buyer called and said "We want to look at this house RIGHT NOW, and if you can't be here in 20 minutes, we're calling someone else" (Note: This buyer had refused to sign a representation agreement, so could have followed through).
The agent left their fundraiser and went to show the house. The clients were late for the showing they had demanded, and then still refused to sign a representation agreement, AND demanded that the agent rebate 50% of whatever commission she received.
The agent fired the client on the spot, and I don't blame her a bit.
The point being, you can't honor every showing request, because some buyers are completely unreasonable.
Her first mistake was leaving her charity fundraiser to be at the beck and call of a squirrel of a client. If they are making threats on the phone, that was her clue to say, "Well, I'm sorry to hear that, but I understand. Go right ahead. I'll cancel the showings for tomorrow and your new agent can rebook them. Good bye." I refuse to be bullied. There's a fine line between client service and being a doormat.
I spend a heck of a lot more that $60,000 for a house and if any agent wanted to charge me $350 to show me a house, I'd go on down the road to a different agent. Phooey on that.
yeah, the $350 should be reserved for high-end properties/clientele.
And if you're dealing with that kind of real estate, you shouldn't even be mingling with us "regulars" lol! There's truly no need to.
To suggest a $350 showing fee to a regular, working class Joe is kinda tactless. That could be damn near a third of her/his bi-weekly check
Quote:
Originally Posted by Paige65
I have not signed an agent agreement, nor, up until the past month, had I provided my agent any pre-qual information, though I've been working with her for two years (but mostly remotely so not a ton of time invested in me over the two year period). We told her what price range we wanted to look in, and that we could afford that range. She took us at our word. The first pre-qual/pre-approval information she ever requested was when we made an offer on a home a few weeks ago. The only reference to her contractually being our agent was in the offer document.
I would probably not work with an agent who required financial information and an agent agreement up front, unless it was customary in the geographic area. I wouldn't spend $350. I would not be thrilled if she refused to show homes to me (without very good cause). I respect her and her time, like I would anyone else, and I suppose that's why none of this has been requested.
Curious as to how often agents have run into issues showing homes that were out of a buyer's price range because they didn't acquire financial information up front.
Those agents are needed...especially for the average Joe. Again, many of the agents I've come in contact with operate the same way you described.
As Lacerta described, though, it seems mind boggling how many agents just seemingly drop whatever they're doing and run out to show a house at the drop of a dime as if they were "on call."
With no forewarning, I've witnessed agents run out super early in the morning after a receiving a showing request , run out on a lazy, nice Sunday, etc... it's just amazing. I'm often thinking, "Do you sleep in your work clothes and not have a life at all?!"
And I just wonder sometimes what makes an agent move away from the approach you described, and/or stick with it.
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