The Girl Who Didn't Return Her Calls - Vancouver Washington Real Estate
This story is a tragedy. It is the story of a girl who, although she was completely connected with all of the latest technology, never returned her calls. It is a story of a girl who didn't get to buy the home of her dreams.
This story goes something like this:
I have a client who was really in a bind. She contacted me and let me know that she needed to buy a home and be fully moved into it within 6 weeks. I let her know that we could do it but we would have to develop a plan, act quickly and be ready to write an offer when we found the right home. She agreed and we went to work.
We struck pay dirt on the first day of our search. I took her to see a home that an investor had completely remodeled and listed right within her price range. She absolutely loved it! I explained to her that she needed to act quickly if she wanted to buy it. She agreed. We agreed to meet the next morning (Saturday) to sign the offer and that I would present the offer that afternoon. It was a plan.
An hour before we were scheduled to meet, I received a text message from her asking to postpone our meeting. That was the last I heard from her for the entire weekend. I called her several times and sent several text messages throughout the weekend. No reply. On Monday morning she finally called me back to schedule an appointment for that afternoon. We set up the appointment for that day after work and I went to work on the offer.
Me: Hi this is Mark Hall with Keller Williams, I am getting ready to write an offer on your listing at 123 1st Street.
Listing agent: Wow. That listing has been sitting for three months without any action but all of a sudden everyone wants it!
Me: Uh... What do you mean?
Listing agent: Well, We got an offer yesterday, which we countered. And then we go two more offers today! Isn't that crazy?
You don't have to be a brain surgeon to realize that my client didn't get the home that she wanted. Had she written the offer when we planned, she would have easily got the home that she loved. Had she answered her phone at any point during the weekend, I may have been able to convince her that she needed to get it together and write an offer.
Guess what? We have seen a few dozen homes since then and she can't find anything she likes. But now she returns her calls. So I guess we have that going for us.
When you choose us to handle your Vancouver Washington real estate needs, you choose a team of realtors® who care about you and your family. Buying or selling a home is always more enjoyable when you work with professionals who will listen to your needs and who will work together with you to achieve your objective. We are very familiar with all types a real estate in Clark Countyand we specialize in Vancouver, Ridgefield and Battle Ground. We are also very experienced with new home and custom home construction having assisted several local builders in selling new neighborhoods in the Vancouver Washington area. Additionally, we have helped numerous families build their own dream homes. We are dedicated to helping you make intelligent, informed decisions and to providing you with exceptional service. The Girl Who Didn't Return Her Calls - Vancouver Washington Real Estate
When you choose us to handle your Vancouver Washington real estate needs, you choose a team of realtors® who care about you and your family. Buying or selling a home is always more enjoyable when you work with professionals who will listen to your needs and who will work together with you to achieve your objective. We are very familiar with all types a real estate in Clark Countyand we specialize in Vancouver, Ridgefield and Battle Ground. We are also very experienced with new home and custom home construction having assisted several local builders in selling new neighborhoods in the Vancouver Washington area. Additionally, we have helped numerous families build their own dream homes. We are dedicated to helping you make intelligent, informed decisions and to providing you with exceptional service.
That is a great example of why a buyer should not waste any time once they have found a home they really like.
Hi Mark...At least she did not say, "I guess it was not meant to be." That often seems to be the thought when people miss out on a home they want. I think it has more to do with their inability to make the decision soon enough.
Hopefully the two of you will come across her "real" dream house very, very soon.
Kate
Mark - I've been through this myself a handful of times over the course of my career. Some buyers seem to need the emotion of a loss to sufficiently motivate them to act quickly.
Heh. This is always a nice Catch-22. If we try and instill urgency or 'push' so our clients don't 'miss out, we are pushy salesmen and just want to close a deal. If we don't 'push' and other buyers bid on the house, and win, then our entire 'field' becomes somehow 'crooked' Argh.
Mark, I think sometimes buyers just get nervous or want to sit back and make sure they have all their ducks in a row and the lesson could mean missing out on the home they really wanted. I also agree with Sibley Poland, sometimes they think we're being to pushy to just get the deal done. I don't know, I guess we just do our best and hope for the same from our buyers.
I don't know why I don't feel sorry. When clients do that there's something else going on. Not returning calls like this is not a good sign. Good luck with her.
Chalk it up to a learning experience for your client. She will be "contract ready" next time with preapproval letter in hand!
I am concerned about her not returning the call also. There must be something else going on. Is she afraid to commit, is there something holding her back? I agree with Frank. Good luck with her. Katerina
I think your client is a victim of a variation of Murphy's Law. It's called "The house has been on the market for a while and now there are several offers all at once...and yours is not one of them!" Try to say this with a wry, sad smile on your face...not in a "I told you so" tone of voice. That's a hard one to pull off. But if you can do it, maybe your client will give the proper emphasis to returning your phone calls.
Good luck to you and to her in this trying market.
And they never seem to learn. Sellers are the same way. With a huge inventory out there they still insist on over-pricing their homes and severely restrict showing hours and conditions. Yet they will complain when their home stagnates.
I can't emphasize enough~if you want to sleep in it ~ don't sleep on it!
(S)he who hesitates is lost! Guess that client learned her lesson the hard way ...
This has happened to all of us. Nobody wants it until somebody wants it. Hope you find her one that she likes.
Don't ya just love those "I coulda had a V-8" moment? Why do people seem to be in a rush but then hesitate when they find the home they have been looking for? Hopefully she learned a lesson here. I'm sure you will find her something else soon! :)
So true. I tell my buyers that if they want to write an offer because the property is attractive then assume someone else does to. AND, when they decide they like something, don't delay, hop to it and start the offer process. This way they will have the ability to gain control of the offer versus waiting and finding out they are in a multiple bid situation.
The problem is, when you do this many think you are putting the pressure on them and selling them.
Catch 22 as Sibley said.
Happy Holidays to all!
Mark, The next house you find will be much easier. Sometimes buyers NEED to lose a house before they get serious. I have a buyer who thinks there is no rush...in her words, "the house is not going anywhere." When someone else writes an offer..it will be too late!
Mark - Buyers need to act quickly if they find the home that they really want.
You are not the only one this sort of thing has happened to ---- unfortunately those who dilly dally and do not commit lose out --
some folks have no concept of time or process...especially the young ones or first time home buyers hwo seem to have a pipeling of people they talk to to help make their decisions... hope you can find her the next best choice!
Mark, bummer! But the next time she finds a good one, I'll bet she'll have learned her lesson and won't screw around!
Mark...
Time is of the essence my friend, and now no other house will ever compare!
This is all to familiar, Mark. All the buyers I have are like that. Go figure!
Mark, I think I've been working with her brother here. LOL The market has been slow and buyers think they have forever to act so they get lackadaisical. Your buyer probably learned her lesson. Hope she buys with you soon. You deserve that deal for all your work.
Mark,
That has happened to me too. The lack of a return call from anyone when there is a time dependent action required is very frustrating and stressful.
Rich
Ya snooze ya lose. Too bad the media has people convinced that nice, well priced properties have nobody interested. There is still a market.
LOL @ Jackie #14. Well put!
Featured @ Club Chaos
There is just "no sense of urgency" anymore. Buyers don't have it, and to be honest a lot of agents don't have it either. That combined with a little case of "cold feet", a few hoops to jump thru in the loan process, a list of repairs that are typed up in RED and it is a wonder that we can make a sale at all.
Just a thought and we'll never know, but.......
I bet she had called a couple of agents, hadn't expected to find a house the first day with you, and Sat. am got a call from one of the other agents and looked at houses with them all weekend. When she didn't find another one she liked better, she called you Mon. am to put in the offer.
Have heard this scenario more than once from agents I know.
Mark, I had that same client a few months ago and they lost out on two homes in one week because of there lack of returning phone calls. We are now under contract finally and looking good to close in two weeks, but it is costing them about $30,000 to get the exact same home next to the one they waited on.
Sometimes it takes a consumer losing a property to realize they have to move swiftly. At least that will not happen again.
hey all good comments above. There are those that can act immediately and some can't. They all get to the point where they can eventually.....though they may miss out for a few times before realizing it.
Patricia/Seacoast NH
Mark:
This is such a familiar story, particularly the part about the house that has sat there for months, and all of a sudden because your buyer wants it, it gets several offers. Unfortunately, this has to happen to some people before they realize that they need to act quickly when they find the right home.
Mark, We've all had this happen. Your buyer got a good wake up call from this. I'm sure you'll find her another house soon. Good luck!
Yes, this has happen to all of us. Sometimes it is a lesson to the buyer.
Buyers are so complicated and I'm sure that may happen to any of us. . .yes we will warn them that the house may not be there tomorrow. . but there is a line I won't cross. .pushing people when they are not ready to buy.
Hi Mark,
It's always heart breaking when this happens but it's also a complete amazement that they don't understand the urgency especially when they are working under a reduced time frame. For some it takes a wake up call like this to get them on track and hopefully you will find her something soon!
I have a buyer that this same thing has happened to them twice. Now they are saying "I wish". We now will be aggressive.
Buyers, sellers and even agent at times to not realize how important timing is. At times this business moves fast doesn't it?
Buyers, sellers and even agent at times to not realize how important timing is. At times this business moves fast doesn't it?
pretty common story line from my 20 years in real estate. Getting over the psychological barrier when you first go out is a difficult one for us as Realtors, and for those who are actually going to be paying for a mortgage. So often it takes a wake up call for them to get busy. Same goes for sellers when the first offer comes in quickly and it is right on the money they want, but they reject it because they know that a better one is coming in. Calling Sigmund Freud.
Sounds like a normal buyer transaction to me. It's quite commin for buyer to have to fail a few times before they truly listen to what we are telling them. If she's a real buyer then just keep moving forward with trying to help her out. That's our job if we choose to accept it.
Ouch! That's no fun. But sometimes, it's a necessary evil. Without facing disappointment (especially in this market), they can tend to drag their feet. Once they've missed out, they tend to get more motivated.
That is too bad...but it sounds like she has learned.....it is always an educational process...
Mark ~ Great post. I have had this happen and then it seems to be a long road to find another. Best of luck...
Not just clients.... a lot of real estate agents too!
Folks need to remember that they are buying a home and not an investment. When you find it do whatever it takes to get it
Tony
Unfortunately this story is not unfamiliar to most Realtors these days! I often wonder "what they are thinking." In this market, the buyers/sellers need to listen to their Realtors' advice and counsel! ;-)
This was classic 2004-2006 where the days of the multi offer were the norm !!!
When will buyers understand that regardless of how long a home is on the market, if they are looking at it there is a good chance that someone else is.
I hate it when that happens! Hopefully, she learned her lesson and will be ready to go next time she finds the house that fits her dreams and budget!
Good Luck!
Crazy...but i had one just like it, although on the seller end. Didn't return calls to the point where the house is in foreclosure instead of a closing.
Sometimes you just want to shake your buyer and say, "Snap out of it!" LOL Seriously, her sense of urgency alone should have made her answer your call! Yikes!
There are still too many buyers in the mindset - it's a buyer's market. Well, to a degree it is, but the one thing they fail to understand is that, in my market anyway, due to prices falling to unacceptable levels for most sellers, the number of prime properties on the market is very limited in many cases and if you want it, there very well are others that want it too. Despite the advice of their realtor, they still seem to have this level of unfounded confidence that they are handling their situation the best way - their way.
I have had several situations this year dealing with competing offers - not on foreclosures or well priced short sales - but nice properties where the seller is not in a dire situation, where the buyers just won't follow the lead of the agent. Frustrating, time consuming and costly for all, though.
Ouch! It'll take her awhile to get over this loss; and until then, it'll be hard to find the "ideal" house. I am glad that she is returning your calls now.
That is the absolute hardest thing in the world when working with a buyer, when the very first house is a perfect match. They just can't believe it, miss the opportunity, then they think that all the other houses will be as nice or as well priced as that one.
Mark - isn't that what happens often - you find a house, there are some delays getting the offer in and when you call a house that has had no activity has now multiple offers! Sigh. Too many times this year. ~Rita
Great story. I have experienced this as well. Your post has encouraged me to give Buyers "The Speech!".
Reminds me of the saying "If you want to 'sleep on it', fine...but it won't be in THIS property because it'll be GONE by then!"
I've had this happen many times, and I know we are going to see this replay over and over in January! But as they say - experience is the best teacher.
I do hope that she has learned a lesson from missing out on her "perfect" home. It's so unfortunate because there won't be many homes that will measure up in her eyes, so finding that next one could be tough.
The lesson to us as Realtors would be to never do this to our clients. We better return all phone calls as quickly as possible.
I like the phrase I just read in one of your comments, "if you wanna sleep in it, don't sleep on it!"
I liked the phrase, "contract ready". That is huge! If your buyer is not armed with their pre-approval letter and their checkbook, you really have to wonder how motivated they are. I really try not to show anyone a house unless they have that letter.
David
Mark, I'm sure you did your best to communicate the urgency of a quick response. I would bet she'll act more quickly on your advice in the future. Best wishes to you in 2010!
Good post. In real estate it isn't just the agent who needs to answer phone calls. If you won't answer a phone call how serious of a buyer are you?
I think it's about time the media starts writing stories that tell about how well priced properties in some markets move very fast. Buyers out there are still under the assumption that nobody is buying and that they can take their time deciding. In my market (Oahu), I have seen properties that have been offered at below market, receive dozens of offers all above asking price.
However, I still find it hard to convey that sense of urgency to some of my buyers! They just won't believe it!
I have had more than one client who dragged their feet even after my insistence that they move quickly, and every time they lost out on that house. It's quite frustrating!
Wow! What a great suprise. I have been working with clients all day and I just got back to the office to find that my post was featured!
Thank you everyone!
Great post Mark and I say "move it or lose it"
You snooze...You loose.. Buyers sometimes think they can take their own sweet time.. but ..
In our market if you see it and you like it you had better make an offer. Very little "regular' inventory sits for very long. Sounds like your buyer learned one of the hard lessons.
It's amazing how this happens. I think buyers just think that it's such a buyer's market out there, that homes will just sit and sit, waiting for their wonderful offer. I have a client who has lost two homes because of a failure to act when i told them the needed to get their offer in. The first time, their response was "I guess it just wasn't meant to be." They said it the second time, when I corrected them and told them that "It could have been, but you hold the cards and YOU have to act." Of course, these are the buyers who demand a LOT of my time - I give it, but I'm running out of patience~
I have seen this to many times where a buyer delays the offer and all of a sudden the home is gone.
Some people get so used to riding the fence, they seem to miss the feeling of a 2x4 riding their buttocks. But I am surprised by this case, because she seemed to actually have some urgency from the beginning.
"Things happen for a reason." That is the response I got when I told a buyer, "You waited too long, it is gone." I don't know what his 'reason' will turn out to be, but prices are actually holding here and will probably move up soon...Early bird gets the worm!
Mark, I hear lots of comments about what lessons the buyer could learn from this experience, but I'm wondering what lessons are there for you and the rest of us to learn. After all if we don't learn from our failures we are destined to fail again. This is a great case for discussion about what we could do better if it could be done all over again.
Some people think a "Buyers market" means they can take thier time. Wrong. In any market, if you see a home you like, move on it then, don't wait.
Love the story. You're a terrific writer. Lesson learned for her. I would have loved to see the "told you so" smile on your face lol
Unfortunately, sometimes clients have to miss out on the perfect house before they learn how important communication is. Good luck on finding her another home.
Hi Mark,
Some buyers don't seem 100% dedicated to the process, until they miss out on the home they want. Please give us an update in the future. I hope this is a story with a happy ending!
Sounds like she will at least begin communicating with you better - good luck!
Are you sure she really wants to buy? Hesitating so long on the "perfect" home and then not being able to find anything else so far makes me wonder if she is really ready to take the plunge at all!
Mark,
It is hard to understand why people don't have a sense of urgency about something as important as buyng a house!
It is amazing how people don't think we know how to do our jobs.