Don't Allow The Tail To Wag The Dog!!!

By
Managing Real Estate Broker with RE/MAX Executive Realty
http://actvra.in/GvX

I just read a post by Scott Godzyk titled “Stop scaring away the buyers” and I thought I’d share my opinion on this topic.   It’s been many years since I’ve sold a home, but I remember exactly what needs to be done!!!

If a real estate agent is worried about scaring away a buyer because the agent needs to ask about financial information, there’s a problem.  The problem is that “the tail is going to wag the dog” if there is ever going to be a transaction. 

The buyer needs to take direction from the agent.  The agent must not be worried that the buyer will seek the services of another agent because a pre-approval letter needs to be in hand. 

If the buyer is dictating how the program will proceed, the agent has lost control.  If the buyer wants to see property and does not know what he/she qualifies for, the agent is wasting time and money.  If the buyer is calling the shots, there will never be a commission check at the end of that road.  There will only be time and money wasted.

Agents must have enough confidence in their ability to work in this business to require the potential client to fulfill requirements before the work begins.  This is not a game.  It’s a business.  The business owner calls the shots, and the potential client will have respect for that business owner for giving the proper guidance.  The tail cannot wag the dog.

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Debbie Reynolds 08/18/2012 09:26 AM
  2. C. Lloyd McKenzie 08/18/2012 01:38 PM
Topic:
Mortgage / Finance
Location:
Massachusetts Norfolk County Franklin Top Listing Real Estate Office Re/max Executive Realty
Groups:
RE/MAX Active Rain Bloggers
Real Estate Rookie
Most Active ActiveRain Blogging Agents
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Tags:
pre approval letter before seeing property

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Show All Comments
Rainmaker
2,016,790
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Tammy, the boys and gina are all moving to Franklin in a week..... they'll be two houses away from me in another home that I own.... it'll be nice to have them right here..... the boys are happy about that too....there will be family photos soon I hope.... it's been a tough summer for everyone since Ryan's death....

Aug 18, 2012 03:33 PM #43
Rainmaker
1,460,159
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

I can't even imagine what the entire family has been going through Barbara...........that's such a difficult thing to deal with, especially with him being so young and how it happened too.  I'm so glad to hear they will be close to you now.  You have a wonderful family and I know you're strong and all help each other, the way it should be.  I was also really pleased to see that Tammy will be working with you too.

Looking forward to some family photos.

Aug 18, 2012 04:26 PM #44
Rainmaker
2,016,790
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Thanks, Roger..... it will all happen in time.... thanks again.

Aug 18, 2012 04:36 PM #45
Rainmaker
572,384
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

Barbara: I'm with Lloyd, #33. You need the client to commit to you plus be able to buy.

Aug 18, 2012 05:04 PM #46
Rainmaker
2,016,790
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Hella....yes, that's very important.....most agents go without the signed agreement....

Aug 18, 2012 05:06 PM #47
Ambassador
1,302,492
Silvia Dukes PA, REALTOR
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Barbara, very well said. Buyers who don't want to or care to follow the rules will not be successful in the end. Usually working with those type of customers is a struggle from beginning to end.
Aug 18, 2012 05:06 PM #48
Rainmaker
2,016,790
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Silvia.... agents shouldn't bother.... it's a waste of time....

Aug 18, 2012 05:10 PM #49
Rainmaker
476,979
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Barbara- Agree 110%..If Buyers don't get pre-qualified, they're really not Buyers and should not be seeing any homes period the end! What would the agent say when providing feedback to LA? If some agents find it difficult to ask for certain things that would make the deal WORK, perhaps this is not the right profession for them and they will soon find out.

Aug 18, 2012 05:11 PM #50
Rainmaker
2,016,790
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Hi Beth..... I agree with your final statement that maybe this is not the right profession if the agent hesitates on asking about financing..... it's sooo important.

Aug 18, 2012 05:37 PM #51
Rainmaker
1,097,289
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Good Evevning Barbara, I am just getting back in late in the evening from a hard Saturday working away and saw your comment and your featured blog. I am happy at least you got featured. This has certainly been a hot topic conversation with heated comments on both sides. I get accused of being too hard on buyers than too soft. I take a softer approach to asking iof the buyer is pre-quailified but I do get there in our initial conversation. I am on the listing side more than buying side and do require only pre-quailified buyers to be shown my listings so a softy i am not. But I do not believe in being harsh ion an initial call, I want to find out more than if they are just pre-quailified such as are they working with another agent? Do they have a house to sell? is it listed? no then i want that listing.... and most important when they are looking to move.

Aug 18, 2012 05:51 PM #52
Rainer
312,749
Wandanna Melliphant
Royal Lepage Credit Valley Real Estate Brokerage - Mississauga, ON
A Name Real Estate Investors Trust and Recommend

Hi Barbara,

I agreed with you completely. On every flight, there is always a pilot in charge that is professional trained to handle emergency situations and give guidance. The same applies to Real Estate; there should always be a trained Professional Realtor in charge!

Have a fabulous weekend!

Aug 18, 2012 06:07 PM #53
Rainmaker
1,066,542
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Barbara - I think this says it all for me.

"If the buyer wants to see property and does not know what he/she qualifies for, the agent is wasting time and money.  If the buyer is calling the shots, there will never be a commission check at the end of that road.  There will only be time and money wasted."


Aug 18, 2012 06:50 PM #54
Rainmaker
1,043,807
Kevin B. Tolbert PA Team
Keller Williams Realty of Port Saint Lucie - Saint Lucie West, FL
New Home Construction and Luxury Specialist!

I am the first to admit I am making huge strides to stay a listing agent exclusively and only work buyers by referral only.

I have a very simple statement when they say "but I just want to look at homes first".  I say if you do not have 15 mins to speak to a mortgage partner to confirm what you are qualified to purchase, then I don't have 3 to 4 hours to spend showing you homes.

 

Aug 18, 2012 06:58 PM #55
Rainmaker
1,387,364
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Short Sale - CDPE, REDS

It is like riding a horse...buyers know when you're afraid.

Aug 18, 2012 07:18 PM #56
Rainer
84,527
Amber Boyd
Novus Real Estate - Wylie, TX

This is a great post! As a newbie I sometimes dont want to pass any type of business up so I help anyone that asks. When they do not have a prequalification then I can waste a lot of time just to find out that they cant even afford a house of that size. This is a learning experience. I learn new things every day.

 

 

 

Aug 18, 2012 07:21 PM #57
Ambassador
475,585
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land at LA

Hi Barbara...I didn't read all of the comments although I did read some.  I also want the buyers to know what they qualify for because I do not want to show them houses that they cannot afford.  They will be disappointed and that certainly doesn't help them nor does it create a sale.  We all lose out.

Kate

Aug 18, 2012 07:47 PM #58
Rainmaker
976,704
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Barbara, an agent needs to know they are working with someone who is qualified to buy a house and a pre-approval letter is the way to go for sure. Otherwise, how do you really know the correct price range?

Sharon

Aug 18, 2012 09:06 PM #59
Ambassador
1,227,879
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

If we are afraid to ask the necessary questions, we shouldn't be in this business.

Aug 18, 2012 09:33 PM #60
Ambassador
1,446,171
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Barbara if a client won't provide such basic information it is very obvious there won't be a commission as this relationship will not result in a closing.  As you pointed out proceeding would be a waste of time and resources.

Have a great Sunday.

Aug 18, 2012 10:01 PM #61
Rainmaker
718,417
Jackie Connelly-Fornuff
Douglas Elliman Real Estate in Babylon NY - Babylon, NY
"Moving at The Speed of YOU!"

Hi Barbara, I saw Scott's post and commented. If buyers have issue with us asking questions, then there is an issue. I won't spin my wheels with buyers who refused to get preapproved. And yes, this is a business, not a hobby. I am not wasting my time and gas for those who just want to look.

Aug 19, 2012 04:23 AM #62
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Rainmaker
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Barbara Todaro

"New Franklin MA Homes"
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