New Agents Ask: Should I Work with Sellers or Buyers?

-- Kathy Moore Cloud

As a seasoned agent in Texas I am often asked by "soon to be" or "recently" licensed agents whether they should try to work with Sellers or with Buyers. My answer involves a few variables for which they must answer my own questions and for which they typically had not anticipated.

I suppose the first question I would ask a new agent is "What do you hope to accomplish?"

I've never really had a preference, although I have partnered with other agents in order to have a family life. In those situations we were like-minded agents with about the same amount of education and experience and clientele and sales volume....desiring similar results. We basically drew straws. "You take the buyers, I'll take the sellers” Once we knew which side we were going to focus on, we streamlined and fine-tuned, complimenting each side.

However, now that I look back I know that while I handled both sellers and buyers I gained a great deal of knowledge about each side every day that rolled. "Do you need the experience first and foremost?" Get five seller transactions and five buyer transactions under your belt first, and then decide which one you like the most if you're wanting to split the action.

When I did end up handling sellers exclusively I began to feel at a slight disadvantage not being directly involved with a buyer's hurdles in the ever changing market conditions. If I wasn't working directly with the buyer, helping them get over the hurdles I wasn't in tune with obstacles in employment, lender changes/requirements, and the economy in general. I could easily lose track of the buyer mindset as well, which would in turn affect my negotiating skills. I had to keep a pulse on the buyer market, pay more attention to newsworthy articles and speakers....not just watch the stats on the MLS. Some of the designation associations helped me with that, through networking with my peers.

I hear some agents say they prefer sellers because they can schedule their needs and the paperwork better. Initially, getting the listing and having it up and running where it will basically take care of itself seemed more suitable to their family life. They seem to think buyers are too sporadic and unpredictable...while a listing was signed, sealed and delivered.

On the other hand, I hear some agents say they prefer buyers because they don't have to deal with a seller all the time. They consider listings very time and cost intensive. They contend that buyers come in on the weekends or at the end of a day after work hours to "look" at properties. So, it fits their household structure...the other spouse can take care of the kiddos while the agent only has to show in afternoons and weekends.

The main consideration should be "where" will you find your clientele? If you do not have listings to draw leads to you, what cost effective methods will you implement to obtain leads? In today's economy, listing agents are certainly thinking twice about the expenses involved with advertising listings and are looking at alternative economical marketing methods they'd not bothered with when the economy was in better condition.

In summation, if you want experience quickly and are financially able to incur some expenses I say work with both sellers and buyers. Secure a few listings which will bring in some buyer leads. Easy enough. Now all you have to do is maximize your time, and remember whether you are wearing a seller's cap or a buyer's cap at the appropriate times.