Tough Lessons From the Trenches--Cut Drama Clients Sooner Rather Than Later

Lessons in the real estate business are anything but cheap. Some can even be career ending. The purpose of this series is to help the rookie agent benefit from some of my mistakes.

Without clients real estate agents are nothing more than cheerful people with expensive MLS keys. Even prior to passing their real estate exam most agents understand this theory. So when a "client" comes a long, we often latch on tighter than a hermit crab in a spiffy conch shell.

While persistence is important in this industry, so is knowing when to cut a client loose. Though there are no hard and fast rules, here are some warning signs to heed.

1) The prospect refuses to commit to you-- Buyers can, and often do call more than one agent to tour homes with. At some point he or she needs to pick one agent and leave the others behind. Never show houses to a buyer in the morning only to have them tour homes with another agent in the afternoon. Such scenarios rarely end in a check.

2) The buyer cannot secure a loan--My poor Jeep drove all over Central Louisiana showing homes to buyers who were "almost qualified" or "within days" of getting settlement money. None ever closed, not with me at least.

3) The seller demands being present for all showings-- As a newbie you are thrilled just to have a listing. Too bad the seller is providing guided tours for all the buyers. One day I plan on writing a book from things I have witnessed on "seller tours". My favorite seller smoked while guiding us through his home. You can't make this stuff up...

4) The buyer refuses to follow your advice-- Thanks to the media and "helpful" family members, don't expect buyers to blindly follow your counsel. And frankly sometimes a buyer has to loose out on a deal before getting realistic. But if things do not improve, refer the buyer to another agent and move on.

5) The client "knows no boundaries"-- Respond to client calls in a timely manner. Keep the lines of communication open. Be proactive. But that seller who calls four times a day is bat shit crazy. There are no emergencies in real estate that do not involve a fire truck.

Customers are free to work with whoever they choose. So are you. Learn to pay attention to those butterflies in your tummy. Quickly.