A LOT of buyers in a market like this start to develop a sense that they'll be more successful in their negotiations by dealing with only the listing agent, and to a certain extent, that's a valid assumption to come to, especially when the agent they've been working with has not been successful in getting their offer(s) accepted. That is very frustrating to a buyer who's been making LOSING offers for 6 or 7 months, while watching prices go higher every month.
In addition, most listing agents are aware of this, many of whom are just unscrupulous enough to promote their listings in such a way as to "snag" those potentially disloyal "clients", by holding open houses, ( HOW DARE THEY?) or, tactics such as offering reduced commissions to cooperating agents. ( There is a growing number of new listings popping up offering less than 2.5%, for example, and it's not like they're just with short sales.)
So, the moral of the story? The same one I've heard for all of my 36+ years in real estate. It's better to concentrate on getting listings, than it is to work primarily with buyers. And, by the way, as much as it pains me to admit, I lose such a "client" in such a manner every couple of years. You'd think I'd get used to it, after 36+ years, but it still hurts every time - just like it has hurt you, Julia.
Obviously, there is something to be said for only working with buyers with a written buyer's agreement. If they won't agree to sign one, after a week or two of building trust, they MIGHT be the kind of "clients" who will end up hurting you, somewhere down the line.
As sales people we have all experienced something like this at one time or another and not only does it make us angry, but a lot of times we want to lash out in anger and send an email or leave a voice mail telling them how bad we think they are. And that is precisely what you don't want to do.
There really is a possibility that if they clearly didn't understand how you got paid. If you think that might be the case, you could craft an email that first congratulates them on their purchase, and then briefly describing how agents get paid.
Be sincere, and be genuine. If you can't be either of those then don't send anything at all. But I have used that method before and ended up getting referrals out of them out of guilt (though it wasn't my intent but I'll take it however they want to give it), or often the person they ended up with did such a lousy job that they realized on their own how bad of a mistake they made.
Lastly, if they were new buyers you really don't know what the listing agent said to them. I've seen where an agent has implied that the previous agent would get paid after close of escrow, but that all boils down to a he said-she said and is normally not worth pursuing.
Best thing to do is revisit the entire time you spent with them, extract areas where you might have been able to bring them closer to a buying decision, and try to get their next referral. If all else fails, then chalk up the lost commission as tuition for the School of Real Estate Sales. Good luck.
Here's what I learned; People like this will come along in our Careers. Take this one as a learning experience. 1) Make sure you have a solid BRE even with good friends or people that become good friends in the process; 2) Every month, send them a list of all the homes you've shown them; 3) Don't waste any additional time with people like this.
I wouldn't give them a second of your time in e-mail or otherwise.
Best of Luck,
Newport Beach & Palm Desert, CA
I wouldn't position the question to them as a result of feeling "scorned", but instead, as a continuous improvement check and balance to ascertain if there was something that could have been done or communicated better on your end.
Hope this helps!
It always amazes me how hard we work and the buyer does not seem to understand the hours we pour into finding them the right home.
I tell my clients if you go see a house without me you must call me and let me negotiate the deal for you...
Ethics among the brethren are sadly lacking.
Sorry to hear that, but welcome to the club. It's getting very difficult to find a home these days and buyers are just jumping at anything that comes along. I would just wish them good luck and hope that something goes wrong with the deal and they come back to you.
Buyers in today's market are very savvy and some may take advantage of any "free" opportunity to get what they want and at the expense of another with little consideration. I would suggest not sending an email or any communication and learn from the experience going forward. Good luck to you!
A little different scenario, and I'm embarrassed to say I really didn't get what it meant to the first Realtor until I became one myself. I agree with Annette, but wouldn't hesitate to humbly ask for some feedback.
Sorry for the slight! But it is definitely why I always have a buyers rep in place. The agent may well have asked if they had signed a buyers rep with another agent - and they could honestly answer no.
Whether to email them or not....is a tough call. You probably have nothing to gain...they liked you but obviously did not respect you or your time enough to buy with you.
Think carefully and perhaps even discuss this with your broker.
They were embarrassed and what could I do but report that agent on an ethics violation and assure myself of never getting another of my buyer's offer ever accepted on one of her listings, she does a good amount of work in that community. I was able to ask them just because I bumped into them in the area, their old email address changed and I was getting bounce email messages and no return calls (maybe a clue huh?).
Be PROFESSIONAL, be nice and congratulate them. Tell them you understand they had to do what they felt they had to do. You say you are "very good friends" now then ask them to refer you all their friends and family to make up for the business you lost (choose your words carefully). If you're really not that close and can't get past this then delete them from your data base and don't waste any more of your time or energy on them. Deleting a bad/disrespectful client can be very healing.
Good luck, now get ready for 2013 and kill it!
With the internet few buyers can not find properties on line. Many do not need a buying agent. Internet has changed a lot the way we do business. Does anyone use a full service stock broker?
Your relationship with client is contingent upon your ability to find them what they want with their terms. You can fire an eMail to share how you feel. May be they will make it up later using you again if they feel guilty about it. I know as an agent I have presented full price offers on my own listings.
The seller cancels the contract with no reason given. Most have to do with greed.
Real estate is never an easy career. That is why so many dropping out and eventually get a 8-5 FT job that pays by the time you work.
its the ones that are your friends/closest to us that hurt you the most. A lesson that i had to learn myself, the hard way!
I would send an email with the truth of how you feel, but keep it as professional as possible. maybe come from the standpoint that as a professional realtor I wanted to learn from this experience as to how or what, was done or not done to satisfy them as clients.
Maybe, you did nothing wrong but just get feedback as to why they used someone else after I am sure many miles and homes visited with them.
Ouch! I feel your pain...believe me I do!
Well what can I tell you that you don't already know? There isn't anything you can say to them that won't sound unprofessional (lol)....some lessons are really painful to learn, so onward and upward and better luck (exclusive buyer contract) next time.