Jan. 30, 2009
Ever wish there were ‘three strikes and you’re out’ in real estate? I have. This week, I heard, saw or observed three different strikes, with three different agents, and they all made me say: “Get Serious—or Get Out of the Way!”
Agent #1 is a selling agent. She had buyers who wanted to go back through a house for the third time before making a decision. The listing agent knew this, and anxiously called for a report. The reply: “I waited five minutes—they were late—they’ve seen that house; if they want to buy it, they will.” Anyone out there want a buyer badly enough to wait for more than five minutes? I thought so!
Agent #2 is a listing agent. His MLS sheet states: “Deed restrictions; on file in office.” Selling agent asked for them last week, then again early this week, then again mid-week. Selling agent explained to listing agent that his buyers are very interested but want to review these documents before signing a contract. The property has been on the market 180+ days. I’ll bet the sellers want to sell it. The last word the selling agent heard, from a secretary in the listing office was: “Oh, I have to stop by the courthouse and pick those up for him. We don’t have them yet.” So….the documents that were on file in office were apparently on file—in the recorder’s office. Sloppy real estate! Anyone out there want a saleable listing badly enough to do your homework and know what you are selling? I thought so!
Agent #3 is a listing agent. First of all, the selling agent called her and said the buyers are ready to go on a $300,000+ sale that has been pending since early December. She didn’t think they could close that quickly; she thought the seller needed ‘more time’ to get her stuff out (the seller moved last fall and took most of her stuff). Then, the listing agent asked about fuel oil proration. The selling agent said: “Read the contract, which my client’s attorney prepared and you reviewed with your client. It does not call for fuel oil proration.” The listing agent’s reply: “Oh, that’s my fault, I must not have gone over that with my seller. She’s going to be really mad.” Anyone out there who thinks that part of your job—a big part of your job, in fact, is reviewing contracts with your clients before they sign them? I thought so!
In all three situations, if and when a contract goes to closing, half the agents received compensation will have not really earned their keep. They will have done less than they should have, and in some cases, the sale will never happen, due to incompetence, laziness, or a combination of the two.
Here’s my point, folks: it’s an ugly market out there, but those of us determined to sell real estate have an uphill battle, not with sellers and buyers, or lenders and title companies—but with our colleagues. If you are in real estate, do your job, do it well, and treat every buyer or seller like they are the most important client you have. Because they are. And if you are not willing to do your job, get out of the business and let those of us who are willing to do the job have the business. Work hard, work competently, do your job—and you will prosper.
Melanie J. McLane, ABR, CRB, CRS, ePRO, GRI, RAA, SRES, 32 year veteran of the real estate industry. Offering training, speaking and consulting throughout the industry, I teach everything from ABR to USPAP. Certified ePRO Instructor. To contact me, email me at: melanie@TheMelanieGroup.com or visit my website: www.TheMelanieGroup.com
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