Are Sellers Better Consumers than Buyers?

Very interesting.  I think that many don't want the buyer to be educated and think about the benefits to them of hiring a buyer agent.  The industry is very seller oriented.

Really really really good questions!  My thought would be - the Listing Agent is interviewed because they 'pay' him....and its 'their house' with the sign on the lawn........The Buyers agent?  Heck they just show the houses don't they?  Anyone can show a house.....ummm.......right?

Makes me realize that we're not doing the best job in the world selling our services in terms of representing our Buyers!  Great points............just reading your column of viewers to the right here....how do you do that, i tried the link and added it to my setting , and I just got your list!  Do you know someone in Port Moody B.C.?  Thats where I graduated from!

Hi Audrey...You are so right.  It surprises me that so many buyers will work with an agent from their local area when they want to buy property in a completely different location.  Of course, some of our sellers do that also.

My daughter even interviews physicians.  I never would have thought to do that but she did when they were looking for a family practioner.  I think that is pretty astute.

Buyers and sellers really need to consider what choices they have as to who to work with.

Interesting topic.

Kathleen

Audrey, I had never thought about this but you are so right.  I have had a few buyers that interviewed me but very few.

Buyers who have been through the buying/selling process do seem to be more selective but most don't seem to care who they retain.  Sellers have a much more tangible asset (equity) to protect so it's more in the front of their minds... my .02 worth anyway.

Audrey, I just flagged this one for a feature.  It's really well done, and I never really thought about it that way!  Wow!

Audrey, this has been the case forever.  Buyers call and take whomever has phone duty!.  They definitely should interview agents before chosing one.  think because some of the most experienced agents are listing agents, buyers can be left with less of a selection.  Great post!

Joan, that is true.  I was always taught no matter what Listings are the name of the game.

Liz, I bet that is true.  Good point, I didn't think of it that way?  The traffic feed is a widget that is on several posts.  It might have been you that you are seeing.  That feed is not exclusive to me.  You can grab it and put it on your blog if you like.

Kathleen, I have started kind of interviewing physicians too.  Maybe not in the direct way, but if I am not feeling comfortable I will change.

Marchel, thanks.  I had met with buyers and started thinking about this - made me wonder if it was just me?

Jesse, that is kind of like what Liz said.  I think that is a good point, they are paying and they have their equity to protect.

Patricia, Thanks, you are always so supportive.

Diane, It really has been the case since I have been an agent.  Buyers will just drive over to a real estate office and say hi, I need to buy a house and I guess they get who they get?

That's a good question. I think sellers seem to be more knowledgable because it seems to me more of a long term relationship. They want someone who is going to market their home and give them weekly reports. Buyers are seemingly more of a 'quickie' deal. I feel as if they feel they have more control over the situation because all they have to do is pick the house (or so they think).

Audrey- I just love the information you write....like your listing and buyer presentations.  This takes it one step further.....getting people to think about the Buyer, and their habits for choosing an Agent. 

 I do not take all buyers.  I ascertain their needs, and refer many out.  There is so much to do with a buyer, and I'm sorry but I can't be effective if I have too many (more than 1) very needy buyers at the same time.  We all know that some people need a lot more attention than others, and I want every buyer to have the best representation they possibly can.  And sometimes that just isn't me :)

People like Lenn Harley who are exclusive Buyers Agents don't appear to be the norm, and the comments here validate that.  So what do we do? 

Lindsay, I think you are right.  Maybe since the seller has already been through a real estate transaction before, they know they should talk to more than one agent.

Kathy, The majority of my buyers are needy, or maybe I make them that way because I over do it?   I have been told I have the patience of jobe?  Maybe that is what we need, especially in today's market. 

At least you can recognize that and refer the clients to someone who does more buyers?  Knowing our strengths and weaknesses is a smart business person.

Audrey, you make an interesting and I think valid observation between the quick choice buyers make with agents and with the sellers being more deliberate. Maybe the sellers feel it is more of a risk and a bigger commitment in the relationship, where the buyers think any old agent can help them.

Gary, I think that is true that sellers figure they are protecting what they already own, but the buyers should protect what they are gonna own.  Especially these days!

Audrey~ It never ceases to amaze me that buyers don't interview their agent.  I know that I check out my customers first and then decide if I want them as my client or not, don't you?   

Vickie, yes I do.  Sometimes I don't make the best decisions though.  LOL!!

Oh so true, buyers seem to use whatever agent finds them first, many times without ever considering whether or not that agent has ANY experience or knowledge.  Sellers are by far more choosy about the agent they hire.

OMG that's totally true! I never thought about it that way. I think with the seller they went through the process, they really are concerned about the return of their equity, wheras comparing to a buyer, they just care about they get the best house with the cheapest price tag possible. With buyers they are more filled with hopes and dreams and excitement of buying a home, they just want it, in comparison to sellers, they want as much money as possible to move on with their lives, therefore more likely to be more concerned with the agent's skills.

Ryan,  It is true?  I wonder why it is?  Just because I meet you in an open house, does that mean you will be my best representation?  Hello?

Cindy Lin, That seems to be the consensus, sellers protecting their equity.

Anonymous, Years dont equal quality that is for sure.

Anonymous, That is interesting that because you were not used to buyers asking so many questions it made you suspicious?  Funny how we have been conditioned to do our business

I work mostly with Buyers, and they have been very educated (about our business), and have done a TON of research, and have asked me a million questions.   They have been aware of all the paperwork that requires their signature, the new forms, buyer agency, etc.  I find, in fact, that I have had it easier getting a listing, than sometimes signing up a Buyer.  Maybe it's this market; or maybe it's the huge number of agents in my Board ... whatever it is, the Buyers I've worked with have been very well educated about who they want to work with, and why, and have interviewed and looked around; and I am glad this is the case, because it makes our jobs easier, dealing with people who choose to be well informed, and who feel they are making the right decision - and that they 'click' with you, and therefore choose you/me; before jumping in to the biggest purchase of their life.

Sylvie, Well said.  Better educated consumers make our job easier, that is for sure. 

Audrey - Congratulations on being featured in the AR Newsletter!  What a great post and you're exactly right.  I meet a lot of buyers on the internet... sometimes I feel like I'm on match.com.  I provide a lot of information about who I am and how I work, so that they feel confident in their choice. 

Rather astute observation.

Jodi Summers

Sotheby's International Realty

jodi@jodisummers.com

I think the reason why sellers are more selective on finding a Realtor is that they have to pay the commission, compare to the buyer who's not paying anything. The seller considers the facts that their agent should have skills, experience, clientele, and know what he/she is doing in order to sell their house quickly and for top dollar. Buyer on the other hand thinks any agent can pull out information of the MLS and show them some houses and at the end is their (buyer's) decicion as to which house they like to buy, so most of the time they'll go with whoever they meet or call  first.

Well said.  I am always amazed when I ask if a buyer is working with another agent and they state they have called several Realtors on ads they saw on a particular site.  It seems as a buyers agent we have no value any longer.  Regardless of how many hours we put into their search or our expertise. 

Debbie, I am just starting to get people finding me on AR.  It is a lot of fun.  The consumer getting to know us initially through the internet makes it easy for them to know they made the right choice! :)

Yvonne, that is interesting coming from your perspective as a stager?  Funny, the mind set of side of one side of the  transaction?

Jodi, Thank you, glad you stopped by!

Meli, I think you have a point, but I have come from the school of " the buyer has to come up with the money to pay the seller so the seller can pay the commission"?  Chicken or the egg argument?  That makes me think the buyer should care more about who they use?  I smell another blog coming on. . .  

Jacquie, I think in a buyers market we are more important than ever.  Funny, in a seller's market-listing agents aren't worth anything, Buyer's market, buyer's  agents aren't as valuable?  Doesn't even make sense?  They should want us now more than ever!  Thanks for stopping by!

Good points. As the market shifts so needs our attention. We need to educate buyers, as to the advantages of using us. A difficult task for us agents that have been used to being a listing agent for all these years.

I think buyers feel as long as they can see the homes of their choices they forget they need someone knowledgeable enough to take them from contract to closing. When they start they are only focused on seeing houses.

Jeri and Henri, I have always worked about 50/50 buyers and sellers.  I never put all of my eggs in one basket because I know the market will shift.  I like a buyer transaction best because I am pretty much in control of that deal.  When we are listing agents, the lender can freak me out.

Dee Dee, I think that is too bad if buyers think that way.  I believe we bring so much more to the table than just showing houses and filling in the blanks of a contract.  IMO?