Let’s face it, every industry has its share of positives, negatives, and entertaining quirks, and the real estate industry is no exception. Today, we wanted to lighten things up and talk about a fun aspect of real estate. Honestly, it’s possible to write a lengthy article with over 10,000 words on this topic, and it would still feel unfinished. And just to clarify, we’re not just poking fun at buyers, sellers, or realtors but also at ourselves.
We do not claim to be perfect or above anyone else. We might even fit into some of the examples we’re about to mention (although we may never admit it. Give us a break, we’re just a facilitator here. LOL!). What we want to emphasize is that real estate can be quite dramatic. After all, there wouldn’t be TV shows dedicated to it if there wasn’t a fair share of excitement and chaos. Realtors, facilitators and other professionals in this field deal with a diverse range of people and situations, which is what makes this profession both challenging and enjoyable (not to mention, it pays the bills and feeds my family, including our pets).
So, if any of the following points hit close to home, don’t take it personally. we’re probably talking about ourselves in some instances too. When realtors take on clients, their primary objective is to reach the ultimate goal – a successful closing. However, some of them navigate these challenges in the real estate industry more skillfully than others. Let’s dive in!
The Good Side
While many potential buyers and sellers are currently just browsing or exploring their options casually, the standout individuals – the “Good” ones or rather, the top-notch ones – are those who…
Cash Buyers Who Know Exactly What They Want
About 30% of the buyers in Florida pay cash. Yes, of course, it’s so nice to have that kind of money; then all they have to worry about is HOA fees, taxes, insurance, and dealing with their neighbors. It would stink pretty bad to pay cash for a home only to find out that your new next-door neighbor flaunts their exotic pets every 2 days or so. But, I guess that would stink whether you’re paying cash or paying a mortgage lender.
What’s fantastic is to find a buyer who is paying cash and knows exactly what they want. 70% of the time, this is not realistic.
Fully Approved Buyers Who Know Exactly What They Want
Most of the time, this is what you will find. You’ll get a buyer who has done their homework (or looked at the dozens of articles that we’ve written) and has become pre-approved or fully approved. Chances are they will already know where they want to move, at least the general area.
Our mission when working with a new client is to narrow the search down to under 10 homes (5 would make us feel better). We and probably a lot of realtors and real estate agents spend a lot of time trying to find out exactly what they want ahead of time – city, amenities, square feet, schools, etc.
Buying a home is such a huge decision, and we get it. If it took you 20 homes, We would definitely take you on as a client. We just think that realtors can spend more time on the front end vetting your needs. It saves everyone time but if you’re fully approved, you made the “Good” list.
But There's a Catch
Off course, we still have faith in humanity, mostly. There are numerous individuals who possess the ability to pay upfront and close deals within four days whom most realtors strongly dislike. Here’s the thing: if you’re not pleasant (and we we think we speak for the majority of the people in the real estate industry here), realtors reserve the right not to collaborate with you.
In fact, they’ve terminated many client relationships before because the behavior was so intolerable that they were completely fine with forfeiting the commission from both the sale of their current property and the purchase of their next one. Completely fine.
You might not be able to pay in cash or have full approval yet, but if you’re a decent person, you’re on the “Good” list.
Basically, it’s a rule of thumb to leave all of your opinions at home and deal with clients/realtors/agents professionally, so it may be advantageous for you the homebuyer/home seller and realtor/agent/facilitator to be polite and respectful.
How Real Estate Agents Should Act
Real estate agents are obligated to provide top-notch service to both buyers and sellers, adhering to a fiduciary relationship. A veteran real estate agent has penned a highly relevant article on this subject titled “How Real Estate Agents Should Be Representing Their Clients.”
He said, “Our responsibilities include loyalty, full disclosure, and maintaining confidentiality.” Realtors who abide by real estate laws and prioritize their clients.
Those who fail to uphold these standards not only harm themselves but also tarnish the reputation of others, placing themselves in the category of “Bad and Ugly.”
Realtors Who Know What They're Doing
Let us clarify something, most realtors are genuinely compassionate, have dedicated significant time and resources to learning, and strive to excel in serving their clients. The majority belong to the Good list in the real estate industry.
Simply having “Time in the Saddle” doesn’t guarantee competence. A fresh agent with passion and a willingness to promptly address queries might outperform someone with two decades of experience but lacks updated knowledge.
Conversely, a realtor with a long-standing license may not keep up with modern practices, relying on outdated methods like real estate magazines and Open Houses for marketing.
Realtors who prioritize their clients and are honest about seeking solutions, even when they don’t have immediate answers.
The Bad Side
Keep in mind, we’re all striving for the same objective – to successfully finalize the deal.
Less than Truthful Folks
Buyers, sellers, and realtors are all capable of dishonesty. However, as a real estate facilitator, we want to emphasize that we are not devious or misleading. Dishonesty exists in every profession, but let’s focus on real estate for now.
Listing and showcasing a property require considerable time and effort. For instance, if you contact your realtor to view a new home but don’t plan to buy for another 3 years, it’s important to communicate that. We’ve had several clients who mention they’re considering a purchase in 2 years, and it’s good that they’re being honest honest that way.
Dishonest individuals are placed on the Bad list, no doubt.
Nosy Neighbors
This particular group typically involves individuals attending Open Houses in the real estate industry. Thus, the term “neighbors” is used because they likely reside in your neighborhood and may not be interested in purchasing your property. While Open Houses are less effective nowadays, nosy neighbors who simply want to inspect your home not only waste the realtor’s time but also that of the seller. Most homeowners probably wouldn’t appreciate someone wandering through their home if they aren’t a genuine potential buyer. That’s all there is to it!
Keep your Kids on a Leash
Another seasoned realtor, Sharon Paxson, has penned an article titled “The 10 Rules to Abide by When House-Hunting.” One of her rules pertains to unruly children, which definitely lands them on the Bad list!
Dear readers, remember that this isn’t your residence. You shouldn’t permit your kids to bounce on the bed, rummage through the fridge, or explore the nightstand. Moreover, if they do happen to delve into the nightstand, you might find yourself in need of some explaining, which could lead to additional therapy sessions for everyone involved down the line.
Realtors Who Over-Sell
This presents a significant issue, and we many people involved in the real estate industry are concerned regarding this matter. The primary responsibility of realtors is to advocate for the best interests of their clients, whether they are buyers or sellers. In Florida, and likely in many others, there are numerous realtors who will say anything just to secure a listing. Unfortunately, many agents neglect to conduct thorough research in their local market, which compromises the quality of service they provide to their clients, especially when listing a property.
Many intelligent realtors refuse to take on a listing if the owner does not agree with the findings of their research. The key factor here is diligent research.
There was an instance before when an agent suggested a selling price of $50,000 for a client’s house, which is below what they desired. They opted to work with another agent, and their property remained unsold for nearly two years.
If the owner is willing to wait that long, it’s their decision; however, they shouldn’t expect the agent to find a buyer willing to pay $50,000 above the appraised value on the second day.
If you’re looking to sell your home, it’s crucial to collaborate with someone who has a proven track record and not just work with people who can promise you whatever you want. This is unrealistic and can affect the salability of your house or property in the long run.
Sellers Who Do Not Listen to Their Seasoned Agent
This situation is a common occurrence in the real estate indsutry. At times, sellers believe they are more knowledgeable than professionals. If you’re a dentist, we can only imagine your reaction if we were to offer advice on tooth extraction. While our approach might be effective, it’s likely not the optimal choice!
In her article titled “The Seller Who Wanted to Test the Market and Got Burned,” Michelle Gibson emphasizes that a reputable Realtor’s primary objective is to secure the highest possible price for your property while ensuring it doesn’t languish on the market.
Avoid adopting a Know-It-All attitude. Disregard Zillow’s Zestimates and your neighbors’ opinions. As long as you engage a competent realtor like Michelle (or a facilitator such as us, in Florida), your home will be accurately priced, eliminating concerns about it becoming a forgotten listing in the depths of the market.
Staying Too Long at the House
Once again, this article could potentially expand further and is likely to do so as we continue, but dedicating 2 days to its publication feels excessively long, and our impatience is evident.
We completely understand the sentiment. After viewing 10 homes, discovering one that captivates you makes you want to linger there indefinitely. However, unless the property is vacant, it’s crucial to recognize that someone resides there and eagerly awaits your departure. While the seller desires your interest in purchasing their home, they may not be aware of it yet. All they perceive is the presence of the buyer and their agent, engaging in lengthy discussions at their dining table while you keep your two Yorkies restrained nearby for a prolonged period, particularly during dinner time. Let’s be considerate, folks!
If you’ve found a home that resonates with you, it’s reasonable to spend around 20 or 30 minutes there. However, if you are aware that the homeowners are retired or it’s approaching mealtime, it’s essential to keep these factors in mind and not overstay your welcome.
Everything in the Real Estate Industry, Including the Kitchen Sink
Real estate transactions heavily rely on negotiations, where success is often defined by each party obtaining something they desire. Bill Gassett’s article, “Realtors Hate Dealing with Buyers,” sheds light on the frustration agents experience when buyers insist on squeezing every last concession from sellers, especially regarding repairs.
It’s important to acknowledge that while a buyer’s agent aims to maximize benefits for their client, there’s a pragmatic threshold to negotiations in the real estate industry. Many times, buyers and agents have already secured the best possible price, particularly in a buyer’s market. However, the situation becomes challenging when buyers push for additional concessions, particularly after significant price reductions.
Consider this scenario: You successfully negotiated a $30,000 discount from the list price, bringing it below the perceived appraised value. Yet, the buyer demands minor repairs based on the home inspection, such as changing a light switch.
This approach can create negative energy and resentment. It’s akin to receiving coal instead of a gift.
Showing Up Un-Announced
Certain buyers, particularly in a market favoring buyers, believe it’s acceptable to arrive unannounced at any time. However, trespassing onto the seller’s property without prior scheduling is highly inappropriate. Going a step further by exiting your vehicle and exploring their property without permission is extremely disrespectful (you can imagine the severity of the situation).
It’s crucial to treat others with the same consideration you would expect if you were in the seller’s position.
Pets
Well, pets aren’t inherently bad (though there are exceptions), but Kevin Vitali’s humorous article on pets during home showings got me reminiscing about numerous encounters with animals during showings.
It’s worth considering the seriousness of this matter because, let’s face it, the stakes can be quite high – it could potentially be a matter of life and death! Realtors often complain about encountering sellers who fail to restrain their dogs when they know they’re bringing clients over. This issue compounds when the listing agent neglects to inform the homeowner of the realtor’s visit but assures them that it’s fine. This is extremely problematic and deserves a metaphorical lump of coal.
Hopefully, for the people reading this will be more considerate in the future as there are clear health hazards in the real estate industry such as this.
While most realtors and agents are fortunate enough to never experience a dog bite, there was one incident where a Rottweiler lunged at a real estate agent’s throat. If he had been just a foot closer than the length of its chain, the outcome could have been disastrous. This is just one of many examples highlighting the potential dangers involved.
Not Utilizing your Realtor Properly
To all prospective buyers, it’s important to understand that real estate agents not only prioritize your best interests but also do this as their profession. Please refrain from taking advantage of your realtor’s services and then denying them fair compensation.
A realtor friend of ours recalls a particular client who stands out in this regard. The realtor dedicated around three weeks to showing them roughly 80 homes (which might have been his oversight). The amount of time, mileage, and gas expended during these showings is significant. However, to his surprise, they purchased a For Sale By Owner (FSBO) property without informing me beforehand. This behavior falls under the category of unacceptable practices and earns you a spot on the “Bad” list. It’s akin to receiving coal in your stocking – not cool, not respectful, and simply disappointing.
You might ask, “But didn’t they have a Buyer’s Agency Agreement in place?” Yes, the realtor and the homebuyer certainly did. However, is it truly worth the additional time and effort to pursue legal action in such cases?
Taking Advantage of the Seller's Home
Conor MacEvilly’s insightful article, “Strangers Will Pee In Your Toilet,” sheds light on an important issue. It’s simply not acceptable for buyers to act as if they own the place, especially in a buyer’s market where this behavior may be more prevalent.
This is not a hotel room or your own home; it’s someone else’s property. You shouldn’t be opening drawers in their nightstand, rummaging through their closet, or using their toilet without permission. Such actions are highly inappropriate and disrespectful whether we’re talking about the real estate industry or in terms of people’s personal behavior.
While it’s perfectly fine to inspect closets, cabinets, and any items included in the home sale, it’s crucial to refrain from using personal spaces like the toilet. The last thing a seller wants to worry about is having to disinfect their toilet seats due to uninvited use.
The Ugly Side
We won’t mince words when we say “ugly,” in the real estate industry because that’s exactly what we mean.
No Dirty Tricks
Let’s clarify this. You intend to sell your house, yet you have two cars resting on cinder blocks in your front yard. Your gutter is hanging off the front of the house, and inside, you’ve accumulated 30 years’ worth of items, including a room filled with unsettling dolls missing eyes, beanie babies, and Hot Wheels cars (and let’s not forget the walls and ceilings painted black).
Seriously?
We’re not criticizing anyone’s tendency to hoard, but when you’re aiming to sell your home, we have two words of advice – Storage Unit.
Take some time, be it a few days or weeks, to declutter, sell, or dispose of items. We’ve talked to realtors who have been in a similar situation, albeit without the eerie dolls—just lots of stuff. When we decided to downsize, we held three consecutive garage sales! Whatever didn’t sell, we simply gave away.
While these memories of our business partner are amusing, the message here holds true. You want to attract buyers, not drive them away.
Decor
We understand that preferences in aesthetics can vary widely. While Seafoam Green may have been trendy in the 1980s, if you’re looking to sell your home, it’s important to consider more current styles.
Let’s face it—wallpaper, especially with flamingo patterns, tends to be a tough sell. Even in coastal areas, flamingos might not be the best choice for interior decor. And don’t even get us started on borders featuring lighthouses!
As a real estate facilitator, our focus is on selling homes, not interior design. However, it’s worth noting that most potential buyers prefer living spaces that aren’t reminiscent of watermelon hues.
Vehicle Wraps
There are realtors who believe in turning their cars into mobile advertisements. However, based on our research, the act of selling a home every few years doesn’t justify appearing foolish and overly eager. This is actually considered an outdated marketing/advertising technique in the real estate indsutry.
We sincerely hope that our realtor friends across the country haven’t opted for vehicle wraps! We anticipate a flurry of emails on this subject.
Since the majority of clients come through online marketing efforts, agents must take responsibility and put in the effort to increase visibility for their websites. Vehicle wraps fall into the category of things to avoid. They’re on the “Unattractive” list, right next to coal.
Attitude
This ties into the previous discussion, but having a negative attitude in the real estate industry is unappealing. Whether you’re a buyer, seller, or realtor, a bad attitude doesn’t reflect well.
We appreciate buyers, but if you lead agents through 100 home viewings only to switch to someone else in the end… that’s not a good look.
We value sellers, but if you insist on a $500,000 price tag for a property worth $300,000 and you’re unlawfully housing llamas in your backyard, that’s not a favorable situation.
We respect realtors, but if they list your property at $500,000 when it’s realistically worth $300,000 (and there are llamas involved), it’s not a good practice.
Avoid being unappealing! You’ll end up with coal in your stocking.
Outdated Pictures
How often have you come across a photo on a real estate agent’s business card, then met them in person, and wondered, “Who is this?” Real estate agents are often guilty of this.
Life happens and we all age with the passing of time. What’s bothersome is seeing someone using a marketing photo from two decades ago. Seriously? If people wouldn’t recognize you while waiting in line at Taco Bell, it’s time to update your photo! But enough about that…
You may also be interested to read: Tips for Buyers on Conducting Home Tours Respectfully
The Takeaway
The real estate industry has its cogs and wheels corroded and stuck sometimes just as much as any other industry that you interact with; however, it’s important to note that we as part of this industry admonish our colleagues and friends to tidy things up when dealing with clients. We also hope that clients will be empathetic to people like us and deal with us fairly, because when both parties are in agreement and align their desires to their needs, a really good business transaction happens, and it happens smoothly with almost zero problems.
