I have a customer. Let’s call him Bob. We met last year when I showed his family a few properties over the course of a week. He was so in love with the area he decided to return with his entire family for an extended stay. Over the course of eight months I coordinated house, car, activities and also continued to send him information on every property he showed interest in. We’ve built a nice relationship and our families have been introduced and spending a lot of time getting to know one another.
We finally find a home and discuss getting together to formalize an offer. I explain to him that the sellers are not distressed and will only entertain solid offers. He doesn’t see the value for the price but loves it and wants to submit an offer. I have customers for a couple of days so we plan to meet in two days to discuss and submit an offer.
I have shown Bob 32 homes from the city to the jungle, introduced him to friends, met with builders/architects/attorneys, had multiple dinners and lunches to discuss the buying process and countless play dates with our children. After all this, Bob decides to go behind my back and contact the sellers broker directly. WHOA, didn’t see that one coming. He calls the sellers broker to schedule another tour of the home and a meeting with the sellers. Thankfully I have a solid relationship with the other broker as we have done business together in the past. She informs me of what is transpiring…
My customer has no idea that I am aware of his disrespectful behavior, yet I am being informed as if watching the game on live TV. Bob thinks his direct approach with the seller will get him a better deal, yet I know very well what the ‘bottom line’ for the seller is based on numerous conversations with their broker. I have been told that the seller is a) not distressed, b) well-capitalized and c) interested in a good deal within 10% of list price – nothing less. I could have assisted him knowing all of the above but he apparently thinks his approach is best and I am no longer needed.
Bob gets the meeting with the sellers, tours the home with his family and engages in a bit of chit chat. That evening, Bob phones the other broker to ask for yet another meeting with the sellers to discuss price and terms. However, the sellers have no desire to be friendly until they see a written offer that would set the stage for negotiations. The broker informs me of this so I make contact with my customer, let him know I have been kept up to date and try to educate him of the process, the need to formalize an offer in order to stay on course and also reiterate that they are not interested in a low ball offer. He does not comment or respond to my coaching and/or professional advise and becomes irritated thinking his way is the only way to obtain the result he wants.
Needless to say, the sellers will not grant a meeting until they have a formal offer. Why would they? They don’t want to be friends, they just want to sell their house! Bob, after repeated communications about such, becomes angry and emotional with everyone that his wishes are not coming to fruition (throwing a tantrum like a child, I might add). On day three the seller’s broker informs me that another customer has placed an offer with her and the seller is pleased.
The tale of Bob is a sad one as we both lost. He lost the home he fell in love with and I lost not only my time, but respect for Bob.
Buyers often get too emotional and think they have a better way to proceed. Working with a broker/agent is crucial to successfully negotiating the best price as we want to help you, not hinder you from purchasing that property you love.
Dear Buyers, show your brokers and agents some love or if not love, at least some professional courtesy and respect!