Thread: Realtor / Buyer Requirements

As a buyer, you are expecting the real estate agent to assist you all through out the process, of course, you expect him/her to know your situation and help you base on it. As a buyer, you will stop working with a realtor, if he/she is not doing the right things to do. A great realtor knows the ins, outs, pros and cons of the business and he/she have satisfied lots of clients. As a realtor, you are expecting the client to trust you and believe on your skills. As a realtor, you will stop working with a client if the client is not following the policies, agreements and due to breach of contract.

1) As a buyer what do you expect from a real estate agent?

Advice and contact from that agent. Prove that you are knowledgeable, and availability.

2) As a buyer what types of things have caused you to stop working with a realtor?

Incompetence. Buyers need the agent to do more than just open a door and ask "what would you like to offer"

3) What qualities differentiate an average realtor from a great realtor?

Knowledge & Competence- Most realtors don't seem to know squat about anything other than how to fill out a form on the computer.

4) As a realtor what do you expect from your clients?

Honesty - clients need to be truthful and open about their intentions.

5) As a realtor what has caused you to decide not to work with a client, stop working with a client, or refer a client out?

Clients that are diffficult to work with, pushy or high maintnance & demand attention. As a realtor, I'm happy to answer question and give advice, but realize I do this everyday and I might know a thing or two that you don't. Also I do have a life and other clients that need my attention.

What can buyers expect from their realtor: a knowledgeable professional who will diligently work on their behalf. Excuses are not acceptable.

What can a realtor expect from their clients: honesty, timeliness, and respect. Be open about your finances and how that might affect the transaction, respond in a timely manner when information/documents are requested, and realize that we are not washing your car, we are professionals who have a certain degree of proficiency and deserve to be treated with respect (as do all people).

What qualities differentiate an average Realtor from a great Realtor? -Very good question. A "great" Realtor anticipates everything. They bring a flashlight to a showing anticipating the place being winterized. They don't make comments about what the buyer can or can not afford. They don't make stupid faces (that the client's wife) can see in the review window. They take phone calls and look up properties after everyone else has gone home or to bed: they work into the night when necessary. They open and close their car doors to allow the clients in and out as well as the doors to the locked showings (if the lock boxes even work). They assist in the contracts and lending process and follow through, all the way to the closing table when the keys are handed to them. They record (on paper or otherwise), their conversations with the prospects to protect themselves against the inevitable. They exercise patience even when they're getting rained on fighting with a lock box at dusk while the neighbors scowl and sneer. They verbally warn their clients that there is mold in the basement, before they go down there. They answer direct questions with direct answers. They don't complain that it's getting dark and their client "wants to see the first one again". They delicately ask if their client is pre-qualified or have proof of funds, before we take them all over creation. They explain what a short sale is to the new client because they don't know and it doesn't matter that we've explained it a hundred thousand times before. They make an extra effort to understand their client's needs even though there may be a language barrier. They take the time out of running around all day, to read and learn about their client's culture and buying habits. They listen carefully. They sit down with a listing client to determine their financial situation so to carefully price their house so their seller can get on with their life and we agents will be paid for our services. They don't pester and know the signs that a client is just shopping and where to take the conversation if this is the case. Great Realtors keep their chins up when they have to spend their last $1.70 on postage to mail listings to their clients because their clients, in 2010, don't have a computer. Lastly, we do our best to squelch the rep that we're only a step up from a used car salesman; with a smile on our face, ignoring the seller who have only a high school education insisting over and over again that they know more than us.

As a realtor what do you expect from your clients? -Like others have said: Honesty. Clients are only hurting themselves by lying to us. If they don't qualify for a mortgage, they simply don't. Lying isn't going to produce the money in their account for to allow them to go shopping. We have contractual agreements with our sellers, to bring financially qualified buyers to the table. If they haven't got it, or can't get it, calling us will do no good. Punctuality. We don't work for free, and we have many clients during a typical work day that require our time. 80% of clients need to learn how to work the following two pieces of equipment: Map, telephone.

As a realtor what has caused you to decide not to work with a client, stop working with a client, or refer a client out? -First and foremost: If they pull any attitude at all. We're all independent contractors. The days of working in a warehouse and making others money off the fruits of our labor and being told, day in and day out how long bathroom breaks are going to be, are over. Like barging into the office and demanding to know, even before saying "Hello", "What's your commission?!". FO. That's my commission. If they are late more than 30 minutes more than twice and not even apologize or they lie about why. If they can't or won't lower their asking price. Over priced homes do not sell. Period.
Most Realtors (newbie or not), will not waste the time it takes to produce a CMA, sit down with BOTH homeowners to work the numbers to financially get a visual where the money is if the prospective sellers insist, right out of the box, in more than just words, implying: we don't know what we're doing and "It'll positively sell in today's market" when their house is surrounded by radio activity. I have two clients now who have had their homes on the market now for six months. One is $65k over priced based on the recommended. They won't lower because they have a 2nd on it. Fine. Come time to re-sign the contract, I'll give them away. If after going thru the entire prequal process and they insist on looking at homes out of their price range and won't listen to reason. This isn't rocket science. If all they can afford is up to $80k, than that's where we must begin looking. Not at homes starting at $230k. "Just to look". We don't work for free. Gasoline, upkeep on the car, car insurance, health insurance, tons of quarterly fees, a new shirt every once in a while: all cost money. Lunch? What's that? Lastly, if the prospects come off to us that it's okay that they waste our time: Goodbye, let me introduce you to ____________.

CM

I'm curious to what Greg will say.

Well, to cut it all really short: honesty, effeciency and reliability are what you desire to expect from both realtors and buyers... Who can disagree?

Originally Posted by Chrisopher Moltisanti

What qualities differentiate an average Realtor from a great Realtor? -Very good question. A "great" Realtor anticipates everything. They bring a flashlight to a showing anticipating the place being winterized. They don't make comments about what the buyer can or can not afford. They don't make stupid faces (that the client's wife) can see in the review window. They take phone calls and look up properties after everyone else has gone home or to bed: they work into the night when necessary. They open and close their car doors to allow the clients in and out as well as the doors to the locked showings (if the lock boxes even work). They assist in the contracts and lending process and follow through, all the way to the closing table when the keys are handed to them. They record (on paper or otherwise), their conversations with the prospects to protect themselves against the inevitable. They exercise patience even when they're getting rained on fighting with a lock box at dusk while the neighbors scowl and sneer. They verbally warn their clients that there is mold in the basement, before they go down there. They answer direct questions with direct answers. They don't complain that it's getting dark and their client "wants to see the first one again". They delicately ask if their client is pre-qualified or have proof of funds, before we take them all over creation. They explain what a short sale is to the new client because they don't know and it doesn't matter that we've explained it a hundred thousand times before. They make an extra effort to understand their client's needs even though there may be a language barrier. They take the time out of running around all day, to read and learn about their client's culture and buying habits. They listen carefully. They sit down with a listing client to determine their financial situation so to carefully price their house so their seller can get on with their life and we agents will be paid for our services. They don't pester and know the signs that a client is just shopping and where to take the conversation if this is the case. Great Realtors keep their chins up when they have to spend their last $1.70 on postage to mail listings to their clients because their clients, in 2010, don't have a computer. Lastly, we do our best to squelch the rep that we're only a step up from a used car salesman; with a smile on our face, ignoring the seller who have only a high school education insisting over and over again that they know more than us.

As a realtor what do you expect from your clients? -Like others have said: Honesty. Clients are only hurting themselves by lying to us. If they don't qualify for a mortgage, they simply don't. Lying isn't going to produce the money in their account for to allow them to go shopping. We have contractual agreements with our sellers, to bring financially qualified buyers to the table. If they haven't got it, or can't get it, calling us will do no good. Punctuality. We don't work for free, and we have many clients during a typical work day that require our time. 80% of clients need to learn how to work the following two pieces of equipment: Map, telephone.

As a realtor what has caused you to decide not to work with a client, stop working with a client, or refer a client out? -First and foremost: If they pull any attitude at all. We're all independent contractors. The days of working in a warehouse and making others money off the fruits of our labor and being told, day in and day out how long bathroom breaks are going to be, are over. Like barging into the office and demanding to know, even before saying "Hello", "What's your commission?!". FO. That's my commission. If they are late more than 30 minutes more than twice and not even apologize or they lie about why. If they can't or won't lower their asking price. Over priced homes do not sell. Period.
Most Realtors (newbie or not), will not waste the time it takes to produce a CMA, sit down with BOTH homeowners to work the numbers to financially get a visual where the money is if the prospective sellers insist, right out of the box, in more than just words, implying: we don't know what we're doing and "It'll positively sell in today's market" when their house is surrounded by radio activity. I have two clients now who have had their homes on the market now for six months. One is $65k over priced based on the recommended. They won't lower because they have a 2nd on it. Fine. Come time to re-sign the contract, I'll give them away. If after going thru the entire prequal process and they insist on looking at homes out of their price range and won't listen to reason. This isn't rocket science. If all they can afford is up to $80k, than that's where we must begin looking. Not at homes starting at $230k. "Just to look". We don't work for free. Gasoline, upkeep on the car, car insurance, health insurance, tons of quarterly fees, a new shirt every once in a while: all cost money. Lunch? What's that? Lastly, if the prospects come off to us that it's okay that they waste our time: Goodbye, let me introduce you to ____________.

CM

I'm curious to what Greg will say.

In an instance when mold is involved, it's a good idea to talk to a professional about performing a mold test / mold inspection. By having a baseline, the buyer can then determine whether it makes sense to move forward. For realtors, the more information you provide to the buyer, the likelihood you will gain referrals and repeat business from them.