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Your mentor is correct. Bring them in for a conversation. While in your office, open up the MLS and do a couple searches with both of them sitting there. Do one search with every single thing they want EXCEPT price. Show them those listings. (It's also pretty useful if a total number of those listings is available, and it is sorted by price.) Then add a filter for price. Show them those that total number again. Discuss....
I used this method several times when I was an agent. It helped them to see right there how I worked and how unrealistic their expectations regarding house/price were. It was often pretty enlightening for the buyer and lead to a more realistic view of what they could get for their money.
You are jut looking for easy sales... Not every transaction will be easy.
Yep. I've lost control of the process. In my attempt to please, I've shown him everything he's asked to see and let him dictate the schedule. He's been cruising realtor.com and Zillow and telling ME which ones to see. That's my fault.
Thanks everyone for the feedback.
He sounds like he is the same type of buyer as I am. He is looking for the deal of the century.
And if we are spending my money, I am the one that will control the process.
About 5 years. I put contracts on about 5 of the 300. I had a big wish list and slim budget, so it really was tedious to find something that worked for me.
Ah, ok. Well, that's a little different. You had a definite goal and had the luxury of time and it did pay off. You probably told your agent that you were willing to wait and take your time and scour the area for the perfect opportunity at a deep discount. That's a different animal than what I'm dealing with currently.
And no, I'm not trying to "control" my client, but as their agent it IS my job to control the process and I've let them take control and as a result we're looking at anything & everything all over town. And they haven't been exactly respectful of my time either. Last week I had 2 days set aside to spend with an out of town buyer who was in town for a limited amount of time and had to find something. I told Mr. Picky about this ahead of time. But on the first day, he started texting me around 9:00 AM. "I'm interested in MLS #12345, 12344 & 12355. When can I see them?" I'm driving and talking to my out of town clients and showing them houses so I'm not replying to texts immediately. He texts again "add 123xyz to the list". Later on "scratch that last one and add 99999 and 97654 instead". A bit later he texts "hello?" (all of this happened in maybe 30 minutes time). When I could safely reply, I apologized for not responding quicker and explained that I was driving and would be driving a lot during the day and would check back in with him at the end of the day. He continued to text and text and text me all day long like a crazy ex. So even though I had told him I had 2 straight days scheduled with the out-of-towners, I ended up getting another agent on my team to help out and show him some houses on my 2nd day of showings with the other client. And rather than being grateful that I found someone to help him in my absence, he made a comment about being "passed off to another realtor" like it was a bad thing! Dude, we were being accommodating for YOU!
Saturday I met up with him and we looked at a few properties, and when we wrapped up I told him that I was in training all day Monday and half a day Tuesday, and encouraged him to do some drive-by's to pre-screen homes and then select some for us to view when I"m done with training. But, he didn't want to do that. He said "can't you find someone in your office to show me homes while you're in training?" I told him I'd see what I could do, which I did. And he texted me multiple times until I was able to line someone up to meet him. And guess what? None of those houses worked either.
I think they will buy something eventually, but he's decided that we are his "entertainment" while he isn't working and his wife is still back in their old city working out her notice. That explains why he hasn't wanted to do any legwork of his own, and why he's wanted to see houses that clearly haven't met their "requirements".
I don't know that I told the agent I was willing to wait. I definitely was aggressively looking at every house that came on the market. I would have liked to find it much sooner but it took five years of hunting.
The agent became very antsy and jut wanted me to buy something. I was not willing to buy whatever so she could get a paycheck. She sent me a long email telling me to contact her when I was ready to buy. I basically told her I am ready to buy as soon as she finds the house I want, for the price I can afford. I generally have unrealistic expectations. The agent that successfully made it happen is the one that got the paycheck in the end. Which I think was 1% because it was a REO property.
I don't know that I told the agent I was willing to wait. I definitely was aggressively looking at every house that came on the market. I would have liked to find it much sooner but it took five years of hunting.
The agent became very antsy and jut wanted me to buy something. I was not willing to buy whatever so she could get a paycheck. She sent me a long email telling me to contact her when I was ready to buy. I basically told her I am ready to buy as soon as she finds the house I want, for the price I can afford. I generally have unrealistic expectations. The agent that successfully made it happen is the one that got the paycheck in the end. Which I think was 1% because it was a REO property.
And who says agents don't earn their commissions???
I saw probably 40-50 houses over the course of about six weeks of looking before I bought one.
Some of it was that inventory wasn't particularly good, but some of it was that I needed time to realign my expectations with my budget. It also didn't help that I was very eager to find something (because I had an offer on my house and I didn't want to be homeless), but I was scared to death about making a huge financial mistake. In the end, I got tired of looking. I knew I needed a place to live, and I found a house I liked a lot in a price point I could live with.
Your mentor's suggestion is an excellent one. After 30 houses, your clients know what their budget buys. Having a discussion about what their number one priority, is critical. Because right now, based on your posts, it seems their number one priority is finding the perfect house at their price point. And they need to know that is the message that is being communicated. And if that is their number one priority then they could take months or even years to find the right house, and if that is the case it may not be a good fit for either you or them.
I don't know that I told the agent I was willing to wait. I definitely was aggressively looking at every house that came on the market. I would have liked to find it much sooner but it took five years of hunting.
The agent became very antsy and jut wanted me to buy something. I was not willing to buy whatever so she could get a paycheck. She sent me a long email telling me to contact her when I was ready to buy. I basically told her I am ready to buy as soon as she finds the house I want, for the price I can afford. I generally have unrealistic expectations. The agent that successfully made it happen is the one that got the paycheck in the end. Which I think was 1% because it was a REO property.
So the initial agent(s) ended up working for you free. Time spent showing you houses, doing searches, scheduling showings, etc. she/he didn't get paid. Would you work for free?
So the initial agent(s) ended up working for you free. Time spent showing you houses, doing searches, scheduling showings, etc. she/he didn't get paid. Would you work for free?
She eventually would have been paid and she held out but she quit... So her loss. The agent that helped me through the process earned the commission.
That is exactly my point, sometimes it will take time to get paid. Not very sale will be instant reward. The second agent that helped me, does real estate for the reward of helping someone find their dream home. She makes very little money doing real estate. I think her expenses and fees outweigh her income some years.
Sorry but the tone the OP has towards the serial "looker" is a negative disposition to have. Buying a house is a huge investment. And sometimes it takes looking at 20+ homes to find what you want. Pictures and driving by the home can only give a portion of the overall picture. Sometimes you don't know what you're getting into until you're actually IN a house. We had a great agent who was patient with us. We probably viewed close to 30+ homes before finding one we loved. And we were so appreciative and grateful for our agent's willingness to accommodate us. We refer our agent to everyone. If I had an agent with the same attitude as the OP, I would fire him/her. That being said, there is no problem having a sit down meeting to regroup and discuss realistic expectations. However if you're only looking for a sale, then you may miss out by dropping those clients. They very well may go to another agent and view 20 more houses and fall in love with one. You'll have missed out on the opportunity to finally get that sale. And if they need to sell or buy in 5 years? I'm sure they won't call the agent who was only focused on making a sale and not interested in accommodating the "serial looker"
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.
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I told him I'd see what I could do, which I did. And he texted me multiple times until I was able to line someone up to meet him. And guess what? None of those houses worked either.
