Back in the days of subagency, when all real estate licensees represented the seller and there wasn't a real estate licensee for every 125 men, women and children in the U.S., real estate agents knew where their bread was buttered.
Today, it's not so clear. In many cases, buyer's agents can still accept remuneration from the listing agent, while acting as the buyer's agent. And some can't wait to turn their noses up at sellers and their listing agents.
It's easy to build an empirical case that this separation of perceived responsibility has led to some confusion and perhaps, some new strategies for buyer's agents, not all of them advisable. While it's good that buyers can now receive the attention and support that once only sellers enjoyed, it's bad that some buyer's agents feel they don't have to be nice to sellers or their agents anymore.
You know the type -- the buyer's agent who is contemptuous of almost everything seller-related: houses, condition, terms, and the sellers themselves. Worse is the burned-out agent, whose years of marginal sales have made them bitter. To them, all sellers are unreasonable, and all listing agents are lazy. You can taste, hear and smell the negativity.
Even when they're right, it's a poor strategy to show contempt. Whatever happened to appreciating having inventory to sell? Isn't that what keeps the real estate industry going?
In a climate where consumers are itching for any excuse to perform commissionectomies, the industry doesn't need "attitude" added to the list.
Some buyer's agent behavior can range from annoying to rude to dishonest. At the least, it's not smart to antagonize the seller by:
- Arriving late or failing to arrive for showing appointments, without explanation or apology.
- Ignoring the listing instructions, disturbing the seller's pets, other occupants, or sense of safety
- Leaving lights blazing or doors open when they leave.
- Showing up unannounced with a client without contacting the listing agent first.
- Turning up their noses at the house instead of waiting for the buyer to give their opinion
Some buyer's agents use the seller to undermine the listing agent by:
- Failing to let the listing agent know they were at the listing with a client.
- Telling the seller he/she has the wrong listing agent.
- Refusing to give feedback because they don't want to give the listing agent any help, even if the feedback could result in better terms should their client be interested in buying the home.
- Conspiring with their buyers to put contingent offers on multiple houses to "tie them up" while their buyer shops the best price.
But now, with the advent of buyer's agency, buyer's agents have their own clients, but that doesn't mean that sellers have to suffer poor manners and cheap shots at their listing agents.
There are some very good reasons to be nice to sellers:
- Sellers, buyers and agents are all working in a common, consensual business environment. Sellers deserve the same professionalism as any colleague or customer. Courtesy moves deals forward a lot faster, and it is more productive and professional than showing disrespect, contempt or indifference, all of which reflect on the buyer's agent, not on their target.
- Sellers provide a great opportunity to let the buyer's agent show professionalism in front of the buyer. Respect is contagious. If the buyer sees or hears the agent marginalize the seller, she may wonder when and if the agent will do the same to her.
- Sellers can become customers. If they have a home to sell, they may not be working with the listing agent to buy. If a buyer's agent impresses a seller with professionalism, there's a chance that the buyer's agent can get the seller as a customer. But if the buyer's agent has been unprofessional, that will never happen.
- The seller is someone to be appreciated at all times because they are providing the marketplace with inventory. It may not be the exact inventory a buyer's agent needs for their client, but a good buyer's agent should have a number of prospects in the works. Perhaps a home needs too much work for a first-time buyer, but it would be ideal for a contractor-investor.
- Sellers can spread good word-of-mouth or bad. Stories about unprofessional conduct reflect on you, your broker, your brand and your industry.
- Sellers aren't the enemy. Even the most zealous buyer's agent has to recognize that deals don't happen until there's agreement, and any distraction away from the terms, including personality differences, should be conscientiously avoided.
- Last, but most important, sellers put their homes in the hands of real estate agents because they believe the system works. Just as they believe in the marketing powers of the listing agent, they believe in the resourcefulness of cooperating agents to find buyers for their property.
For that endorsement alone, all sellers should be heartily thanked when they open their homes and their lives to buyer's agents and their clients.
So leave your card, sign that register, and offer those helpful comments, including your appointment time and when you arrived and left.
Leave the home in the condition you found it. Don't dis the home -- there may be more to the story than the condition tells, like family illness or job loss.
Help the listing agent with feedback so you can strengthen your networking relationships. Wouldn't you like to be the first agent called when the listing agent gets a new listing? You never know -- you just might get a referral from the seller and the listing agent!
Published: August 12, 2005
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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment.
Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's.
Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.
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In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.
Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.
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"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors
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