1 out of 4 buyers have buyers’ remorse? That number struck me.
Thirty-two percent of Americans who bought or sold a home in the past 10 years and used an agent felt their “agent was OK, but I never really felt they were on my side or very helpful” and 8 percent said their “agent was one of the worst parts of the home buying or selling process.”
Achieving 100% satisfaction is an impossible goal, but it’s worth striving for.
I’ve witnessed shoddy real estate practice since I started in 2001 but nowhere near 32 percent. I’ve heard from enough clients about other transactions in their lives to believe the 8 percent is probably right on, and perhaps a little bit low.
My buyer clients come to me seeking guidance, advice and insight into the home buying process, and that’s what I strive to provide. As my mom told me when I was starting out (and over and over throughout my career) – real estate agents don’t make decisions for our clients; I try to help my clients make good and better decisions.
I joke with my clients about the gravity of the home buying situation – I want to convey the seriousness of what we’re doing together but also try to take the edge off. When we’re moving through the decision process about what to they should do, I’ve found myself saying, “don’t worry – it’s only the rest of your lives and a huge pile of money.” Because it is. The decisions my clients make are likely to affect the rest of their lives and most importantly, the rest of their kids’ lives. That matters way more than whether I get paid a commission.
And to the ultimate buyer representation question: ask my clients if I’ve ever been one to dissuade them from walking away. My role is not predicated on my getting paid; if I got paid based on the number of times I’ve advocated for my clients walking away, I’d be wealthy. (I’m karmic and professionally wealthy though)
Next – where’s my incentive if I get paid more if my buyers pay more?