It was 1992, and she walked with confidence into my "For Buyers Only" real estate office and asked for my resume. I was almost 3 months into having my own office and I was not busy...I was doing "0" business..no buyers and not a single phone call. Home buyer representation was almost unheard of...and now a potential home buyer wanted a "resume", that I did not have.
Great... I never knew I needed one...didn't matter, my resume would have had nothing on it anyway. I knew only enough about real estate to pass the Broker test and now I was being peppered with "interview" questions because she was shopping for a new agent.
"She" was a smart investor who knew more about real estate than I did, but she felt "un-represented". She asked me if I would "hustle" for her. Sure, I could do that. After all, I was hungry for business and desperate for a commission check. Ha! I ended up selling her a condo for $10,000 with a bullet hole in the window and I earned a $500 commission check...however, I did not complain. It was business for me and a chance to really start learning about real estate.
Things changed, and my business grew as Florida outlawed "dual agency"...and home buyers started realizing that there is a choice for home buyer representation...I still get interviewed and this is what being interviewed has taught me...
- Smart home buyers who understand "agency" will search for the "right" buyers agent, and not settle for the first agent they meet. International clients choose more carefully.
- Home buyers that call on a real estate sign don't understand that the person answering the phone is representing the seller...or the impact it may have on their wallet...they claim if they had known that, they would have found a buyers agent first.
- Home buyers that are astute do care whether or not that agent is really representing them, and clearly "get it" when the agent is not. That is true of all economic levels and budgets. Once they know there is such a thing as a "Buyers Agent" they all want to work with someone that will protect their interests.
Statistics show that an unrepresented home buyer will pay more for a property and receive less favorable terms. Buying a home is not a "buddy to buddy" situation...buyers and sellers have opposing interests and both sides need someone to represent them with full fiduciary duties.
My office represents ONLY the best interest of the home buyer with full fiduciary duties and NO conflict of interest. I welcome a phone or personal interview...Being "interviewed" tells me that the home buyer is serious and gives me an opportunity to really understand my clients needs. I also have a resume. Ask me, it is a good one.
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