WHEN DO YOU SAY "ENOUGH IS ENOUGH"?

My home is on the market here in Southampton Village and I live here. It is located in a very "hot" area right now so everyday I get calls to show it and some of them are really off-the-wall calls; I liken some of them to a pie in the face, catching me by surprise, especially since these agents know I am a fellow agent!

HERE ARE JUST A FEW:

• My buyer loves the street you live on--he is dying to see a house on your street--can I show your house tomorrow? (The exact words of an agent!)
• He doesn't really care about the zoning....He really wants to just take a look.
• What do you mean "Did you qualify him"?
• If my buyer likes your house, can he rent it with an option to buy? (This is after I told the agent my house is rented for summer 2012.)
• My buyer is looking for a real deal---will you give him a better price than your asking price?

These were actual questions that I fielded this last week from a couple of agents who wanted to show my house. Some of these questions REALLY killed me! One of these agents was unaware (for some reason, since I make sure that information is on the listing!) that I am the owner/broker for the property. He absolutely floored me when he asked for the listing as an exclusive!!!

Last night I had one of those calls where the agent who is not from the area, called me very late asking if she could show the house at 10:00 this morning...I told her that the house is rented for the summer and will not be able to close until after Labor Day and asked if her buyer knows that....she brushed that off and said "No, but he really wants to see your house." I told her that since it is rented and he can't buy it until after Labor Day, there was no rush to get in to see it...besides, which, I am struggling to get around with a very badly injured knee and I am scheduled for surgery next wednesday--and my dog is not well--so if she could just hold him off for a week that would be better for me.

The agent was not happy to hear that and said: "Well, I have never had anyone tell me not to show their house if they really want to sell!"...where-upon I informed her that in my many years of experience, when a buyer is pushing like that to get in to see a house--that the person is not a real buyer and may even have another agenda--and I am not in any condition to prepare my house for a showing, (I like my house to be immaculate and lighted) take my dog out for her to show it and then find out the guy was not a real buyer.

She was not happy but took that as a "no" and hung up.....then called me back in 1/2 an hour insisting that the guy was real, that it does not matter that it is rented because he would be re-doing it or tearing it down....I said: "Wait a minute--I have written in the notes that this house is over 75 years old and has to go through the ARB (Architectural review Board) to get approval for tear down--and they may say no--Did you tell him that?" Her response? "Oh that's ok, he will just re-do it then! He just wants to be in that neighborhood"...defeated I said ok to the 10:00 appointment this morning and went to bed....

I was awakened several times during the night with my dog in terrible shape, needing to get to the hosptial first thing....so I cleaned up the house (took me an hour--very hard on my poor knee), dressed and took him to the hospital at 9:30, leaving the front door unlocked for the agent and her "buyer"...

As I stood in the waiting room at the animal hospital at 10:00, my little dog wrapped in a wee-wee pad and my knee killing me (I was afraid to sit down, in case I could not get up!) my cell phone rang in my pocket---I struggled to get it and saw it was the agent calling me---"Hi Paula!---just wanted to let you know that the buyer has not even left the city yet because of the snow so I think we need to cancel...." and I hung up!

WHEN DO YOU SAY ENOUGH IS ENOUGH?

HOW DO YOU "QUALIFY" YOUR BUYERS?....Or,...DO You Qualify Your Buyers?

Given the "no" answer that I have received from a number of agents it appears that there is woeful disregard for the act of qualifying a buyer. It surprises me completely that this important part of working as a real estate professional is overlooked or is not even a known CRUCIAL part of the interview of a buyer.

Today it seems that most agents do NOT qualify their buyers and in fact, they have no idea HOW to qualify them!

This post is written after I read one by Maria Morton: Showing Homes To Unqualified Buyers Just like Maria, I find that this is THE most important part of an interview of a potential buyer. Some agents feel it is too invasive; they feel embarrassed to ask these probing questions...That is too bad, because not only is it necessary, it is EXPECTED by any qualified buyer!

In my observations there is a danger in several ways in NOT qualifying a person who you will be working closely with. The most obvious one is the safety issue; the chances we take every day in the real estate profession include possible life-threatening encounters with someone that we know nothing about.

The next risk, and not as threatening personally but still a risk, is the "Time Waster", who has no regard for the work we do and no respect for our precious time. Not many, but some people just want to go into other peoples homes....and these Lookie Lous' will waste your time "Big Time" if you let them!

Taking all of this into consideration, and with Maria's post still fresh in my mind, I would like to give everyone here a list of the most important things we must ask a potential client/customer.

QUESTIONS YOU MUST ASK A POTENTIAL CLIENT/CUSTOMER:

• What do you do for a living?
• How long have you been looking?
• Have you bid on anything else?
• Have you tried to buy a house recently?
• If "yes" why did you not buy it?
• Will you be financing the house you buy?
• If "cash" is the answer, are you in a liquid financial position?
• If financing, how much will you be putting down and is it liquid?
• Are you pre-qualified for a loan to buy a house?
• If not, would you be willing to talk to a mortgage broker or bank to get pre-qualified?
• Do you know what your net-worth is? (This applies generally, to a high net worth purchase only)
• Can you substantiate any claim to net worth if a seller requires it?

NOTE: If these seem too invasive and if the potential client/customer baulks at answering any of these questions, you need to make note of the reaction..this reaction is crucial to identifying a potential problem--both for your safety and your valuable time! DON'T FALL INTO A TRAP BY NOT QUALIFYING A "BUYER"!

THESE ARE THE ACTIONS NEEDED BEFORE YOU LEAVE YOUR OFFICE WITH YOUR NEW CLIENT/CUSTOMER:

• Ask them if they are currently working with an agent other than you.
• If "yes", try to find out who and if the answer is I "was" working with another agent, ask why they are not still working with said agent.
• Do a Google search on the person you just interviewed. (Do this in private if you can find a place to do a search)
• If anything looks suspicious, put off working with them until you have time to do a back ground search.
• If you need a background search, there is a sight called "People Search" and for a few dollars, you can get the low-down on what is a possible problem with the individual.

Now, these may seem like probing questions and they are, but you need to take the stance of being the scrupulous individual you are if you want to get the respect you should get from a potential client/customer...

I always say that if the person knows you are REALLY interested and not just nosy, they are more apt to be forthcoming with the information you require.

The way you ask and what you ask will help them determine that you are a professional, not a snoop!

If they do not want to share any of this information with you, that is a sure sign that they are holding back needed information from you and you can choose whether or not you want to go forward.

THE WATCHFUL EYE OF QUALIFYING A BUYER IS A NECESSARY PART OF YOUR SUCCESSFUL BUSINESS!

FOR YOUR SAFETY AND FOR YOUR SUCCESS IN THE PROCESS OF SELLING HOMES, YOU MUST ALWAYS QUALIFY A POTENTIAL CLIENT/CUSTOMER!

WHAT'S WITH THE SUPER-CRITICAL ATTITUDE??...Why Is There Such A Need To Make others Wrong??

I love it here on ActiveRain...I love the posts because they are so informational---I love the posts because they are so eye-opening and Leading Edge in terms of their perspective. I have met more unusual, informed, intellectual and tech-savvy people here than anywhere else on the web. This is where it is at when it comes to real estate; and I am sure everyone would agree that the time spent here on ActiveRain is time well spent and even tremendously valuable to our businesses.

There is one thing that I am having great difficulty with and that is the NEED for some to be super-critical! This tendency for super-critical analysis has become so, well frankly, blatant that I just have to speak up.

I know that there have been times when I will write a post where-in I criticize a point of view, a bad habit or even a way of doing business. And some may say I am even super-critical myself! However, when it becomes the sole purpose of a post to criticize without a full idea of what the criticism is affecting in terms of a practice that is in line with the law in certain markets---well, it just shows an ignorance of the real factors.

In fact, in the last super-critical post I read, there is a "slamming" of the way certain states set up their agency requirements and a claim of "Greed" when it comes to the way agents from these states are working with buyers and sellers, when in fact they are working well with in their state agency laws and well within the way the buyers and sellers want to be serviced.

There is a "slamming" and name calling in this post and it is done without regard or even the mention that there are many states that operate in a way that is not uniform throughout the United States; WHERE IT IS PERFECTLY LEGAL TO WORK WITH THE BUYER AND SELLER AS LONG AS YOU HAVE DISCLOSED IT AND GIVEN THE BUYER AN OPPORTUNITY TO CHOOSE A BUYERS BROKER!

I think that is just fine, don't you?---what do we want? A state by state function of the needs of each state or do we want a Federal mandate as to how we should all operate in our respective marketplaces??? (Sounds like socialism to me!)

IF A BUYER WANTS TO WORK WITH A LISTING AGENT FOR WHATEVER REASON---WHO CAN QUESTION THEIR MOTIVES???

In my opinion, Buyer Brokerage has become a "politically correct" encumbrance that makes the super-critical agent want to identify, call out and in general, make life miserable for the other agent who gets a call from a buyer on a listing they are representing. "The selfish, greedy agent should not take this buyer on (even with full disclosure and a rejected offer of a buyer broker) because all they want is both sides of the deal!!!"...and to the buyer who CHOOSES to work with the listing agent instead of being represented by a buyers brokerage, this same "Super-Critical" agent will say: "They think they are going to get a cut of the commission--or they only want to cut a better deal with that under-handed listing agent!"...Makes me question the motives of an agent who constantly looks at the other agent who is operating within the law while said agent has another set of laws that they must work within. If there is a real issue--call the state where the "Crime" is being committed!

"HOW DARE YOU CALL YOURSELF AN EXPERT!!!"

Then there is the other type of super-critical blogger who says: "Don't you dare call yourself an expert!!!" ....Why? because others may feel that they are NOT an expert IF said agent has taken the moniker?? Or, maybe because by being so sure of yourself, you are up to NO GOOD???

Does the agent who says this about themselves have a secret agenda that is to out-do all others??? Who cares??? Don't we all do that anyway??? Last time I checked leaders are usually "experts" by default--otherwise they would not be leaders!!

I personally could care less if an agent is out there doing the things that I mention above! There is nothing I can do even if they are doing it LEGALLY OR ILLEGALLY!...Wait a minute--last time I looked there were even worse things going on in this business!!! I know of a pedophile who ran an office here--made international news because he was from Germany and ran an office with a system for international peophilia!

So, I am going to get on with my work, do it as I see fit within the law, and I may even call myself an expert in an area or on an issue if I feel so inclined---and if I get criticized for doing so, so be it!

LET'S NOT TRY TO CONTROL OTHERS THROUGH CRITICISM--IT'S REALLY NOT VERY EFFECTIVE, NOW IS IT?

THE SUPER-CRITIC REALLY BUGS ME, CAN YOU TELL??? :)

THE HAMPTONS IS SET FOR A BANNER YEAR!....Already, Sales Are On The Increase!!

In my last market report and Hamptons News Letter, I talk about the upward trend in real estate sales, specifically at the high end of the market. When I last checked, the number of signed contracts appeared to be at a record high and now, as closings are happening, we can see the results of a very busy year.

SLOWEST TIME OF YEAR TURNS OUT TO BE THE BUSIEST!

The Holiday period, from Thanksgiving through the New Year, is usually the slowest time of the year for real estate sales. Most families are traveling, going to weddings, celebrating the Holidays or just relaxing at the end of the year.

In 2011, however, there were a large number of buyers out there looking to take advantage of low interest rates, and even lower prices--plus the known positive factor of owning a "Tangible Asset".

The "East End" of Long island includes the Hamtpons and the North Fork. The source for the following numbers is from Suffolk Profiles, a county reporting agency:

FIRST WEEK OF JANUARY, 2012 NUMBER OF SALES: 38 CLOSINGS

SECOND WEEK OF JANUARY, 2012 NUMBER OF SALES: 100 CLOSINGS

THE HIGH END OF THE MARKET IS THE WINNER SO FAR IN 2012

In the case of Hamptons sales, the High end of the market is the most active with strong sales coming in on $5million and up properties for 2012. I was reviewing the listings that I had forwarded to a buyer in Italy. He was interested in seeing houses from $6mil. to $25mil. to get an idea of what was available at those price points.

I had sent these listings to him at the end of November. Now, as I review what I had sent to him and in my effort to bring him up to speed on the Hamptons, I found the following:

LEE AVENUE, EAST HAMPTON, NEW YORK--IN CONTRACT (ASK 24,500,000)

MARINA DRIVE, EAST HAMPTON--SOLD FOR $6MILLION (ASK $6.495MIL)

CRESCENT AVENUE, SOUTHAMPTON (WATER MILL)--IN CONTRACT (ASK $19,950,000)

FLYING POINT ROAD, SOUTHAMPTON (WATER MILL) --IN CONTRACT ($5,975,000)

Now, these were from the number of listings that I sent to him; there were many more that I have not yet identified and many are at the high end of the spectrum. I have already heard from the man in Italy; he is now ready to buy!!!

We are already well on our way to a banner year for 2012 in real estate--lets hope it continues. I believe we have recovered form the malaise of the last 4 years and that we will see positive results going forward.

BELOW IS THE MARKET REPORT/NEWSLETTER FOR JANUARY 14, 2012

HAMPTONS MARKET REPORT(The 2012 market is showing a leap forward in sales….)	January 15 2012
Real estate sales are showing a steady increase for the new year and most authorities speak positively about the real estate market in general for 2012.	2012 will be a banner year for real estate, according to projections from the National Association of Realtors.

HAMPTON’S MARKET REPORT

January 14, 2012

HIGH END OF THE MARKET TRENDING UP

· The Hampton’s real estate market has seen a leap forward in sales in the past 2 weeks.

· The high end of the market is taking the majority of dollars spent and there is an upward trend going forward, according to the number of showings and buyers who have requested information on high end properties.

· January 1, 2012 through January 6^, 2012: 38 closings

· January 7, 2012 through January 13, 2012: 100 closings.

· All of these closings were generated from 2011 business.

· The Holiday season (Thanksgiving, Hanukkah and Christmas) of 2011 was one of the busiest periods in a long time; The Holiday time period is normally the slowest time of year for real estate sales.

· This follows a jump in sales for total year, 2011 (See Elliman report attached. Q4 is not yet available)

· We are seeing a collection of first time offerings of premier ocean front listings come on the market in just the last month.

· All five of the listings that are shown on the following pages (sold and in-contracts) were introduced to the market place as first time offerings.

· Projections for 2012 are all very optimistic with some prognosticators seeing a banner year for real estate sales.

· INVESTORS LOOK FOR TANGIBLE ASSET INVESTMENTS

· All properties below have closed or will close in the next few weeks. In addition to the shown properties there are ocean front listings that are getting the attention of investors who want to own a part of the Hamptons and need a portion of their portfolio to represent a tangible asset like real estate.

· This is a trend that has become stronger as the market improves and as other forms of investment become more risky.

· As the market recovers, the showings of ocean front properties have increased and more homeowners are considering putting their homes on the market.

· Click here to see the full ELLIMAN report for 3^rd Quarter of 2011

Paula I Hathaway, LBA, SVP

Prudential Douglas Elliman, Southampton, New York

ARE YOU A SKEPTIC???...Do You Question The Motives Of Almost Everyone You Come Across?

I AM, AND I DO!!!......and I am proud of it!

Recently, I was challenged by a business acquaintance with the idea that if I was going to question someone about their intentions when it came to volunteering to do an open house for me, then I didn't deserve to get their help!

"We are independent contractors! Just let him do the open house!"....was the statement from this business aquaintance.

I was simply asking the volunteer what he wanted to gain from doing an open house for me on a big listing--hoping to hear something like: "Hey-I want to get a bunch of potential buyers--a list of names that I can farm and cajole into buying this listing." That's what I was hoping for and instead I got a cold shrug of the shoulders--" I guess I might as well do an open house for a big listing than a little one".....

I was put off by that response--it was uninspired and lacked the prospecting attitude that I expected. So, I told him I would do the open house and he could help. I needed to feel that the house would be properly shown and represented and with an attitude like the one he had, I was doubtful I would get good results!

That is just one little example of what my skepticism does for me--It keeps me on my toes! It makes me expect more and therefore demand more from those whom I work with--both co-workers and clients!

I want to keep my reasoned consideration about things; I want to have an attitude of doubt about someone until I am certain they are going to perform at a very high level with regard to buying a house, selling their home or even handling one of my listings.

IS THERE ANYTHING WRONG WITH QUESTIONS???...I think not! I AM a skeptic and I am proud of it! In my opinion, there are not enough of us out there!

Some of the other things I am very skeptical about:

• I am doubtful that a good result can be achieved when NOT getting a high degree of commitment from those with whom I put my trust.
• I am very concerned when I have a homeowner who does not want to allow me to put a sign on his property, especially when it is my exclusive! How serious are they???
• It concerns me when I have a buyer, actively looking for a home, who does not get pre-approved before we begin to look for a house....may not even be intentional--just careless and uninformed!
• I get really doubtful when a homeowner says: "I will list the house with you for 3 months and THEN we can extend the agreement"..leaving me with no time for serious marketing before the listing ends!
• As far as the renewal thing--I have learned the hard way that the intention of a homeowner who promises to re-list in this market after 6 months of my heavy marketing campaigns is very dubious indeed!....Get the 8 month or 1 year agreement UP FRONT if you are investing lots of time and money in marketing!

I am finding myself more and more skeptical in this very difficult profession! ...As a result, I have taken the position that unless my requirements of buyers, sellers and co-workers are not met, I will not put any time into the process.

I pick my "Time and Money Spent" (TMS) on very carefully scrutinized clients and co-workers. I don't need to "settle" when it comes to my high standards and expectations...If they can't be met--I say "Hit the road"!

AS far as those who call me a "SKEPTIC"...I say: "YOU BET I AM, AND I AM VERY PROUD OF IT!"

HOW ABOUT YOU???...Are You A Skeptic? Please share some of your experiences where being "SKEPTICAL" has paid off.

This post is a submission to the ActiveRain / Adobe EchoSign Trust Contest. I could possibly win a prize. You can find out about the contest by clicking here