I came across an amusing article published in Huffington Post in which Los Angeles–based realtor Nick Segal detailed how one elderly person came up to him in the middle of a property viewing, and expressed a strong need to voice his opinion about all realtors. It wasn’t a positive one.
This is quite interesting, as a number of people I know do have a negative opinion or two about licensed real estate brokers. Some of these people I know are even brokers themselves. I’ve even experienced a notoriously annoying one first hand when I accompanied a work colleague to a home viewing.
This has got me to thinking: why do some real estate brokers act like so? I must make it clear, though, that the point of this is not to paint brokers in a bad light. There are plenty out there whom I know personally that are very professional, work for their clients’ best interest, and are genuinely helpful to their fellow brokers.
However, as with any other industry, bad eggs seem to have a knack of finding their way into any profession. There are, after all, unprincipled lawyers and tax-evading doctors, and don’t even get me started on politicians. What this means is that the reputation cast by a few does not represent an entire profession.
In addition, although many of us common folk like to think that brokers are living fabulous lives, their job entails plenty of hard work, not to mention uncertainty over next month’s paycheck. Most of them don’t earn a dime until a sale closes, and if a deal falls apart for any reason, it can cause a lot of stress.
And you know what stress does to people. It can make some of us resort to less savory attitude, which takes us to the title of this article: What are the most common “misdeeds” real estate brokers commit that tick people off, whether it’s their own client (buyer or seller) or their fellow brokers? To come up with this list I asked a few brokers, buyers, and some of my colleagues. Here’s what they said.
1. Not Showing up for a Viewing
As I’ve mentioned above, I accompanied a work colleague once for a viewing. My colleague had everything ready for his client (he’s the buyer’s representative) that same morning and called the two brokers representing the sellers he’s going to work with. Although both RSVP’d, only one showed up. The other? She was never heard from again. Good thing my colleague’s prospect liked the property he was shown with, but he could tell the client was a bit disappointed that he couldn’t view the other.
So how do brokers deal with no-shows? “Mostly you just make do with what you have and calmly explain to the client that the other property won’t be available for viewing,” my colleague said. “However, these instances really push my buttons—not to mention the client’s—especially if I make it a point to inform the other party as early as possible. Really, how difficult is it to text message?”
2. Posting Listing That Sold (or Rented out) Long Ago
In the advent of online listings sites, it has become cheap for brokers to advertise their properties. But not all brokers are created equal. Some are too lazy to update their listings, while others, using a bait-and-switch-style ploy, advertise listings that got sold or rented out long ago. They take people in, but clients get upset when they find out that the broker’s showing them a property they did not inquire for.
Also called ghost listings, this tactic happens everywhere, even in mature markets like New York. In fact, according to a New York Times article, many brokers are doing this just to pull in clients, and ghost listings are an indication that agents are starved for inventory and have little to post. Not only does this tarnish the profession, it’s usually not effective, said Nikki Field, a broker with Sotheby’s International Realty. “If you start with a bait-and-switch, buyers will not be loyal.”
However, for many, this could just a simple case of negligence. And if this was the case the best that brokers can do is to be honest. “Inform and apologize immediately that the property they’re inquiring for is already unavailable, but make sure to offer alternative properties,” said my colleague.
3. Being Generally Rude
Now this is something I’ve heard many of times before and something a few brokers I know swear to happen a lot. Real estate broker Christine delos Reyes, for instance, almost always get this rather uncouth response from some brokers when she inquires about a listing: “Sure buyer ba ’yan?” (“Is your client a sure buyer?”).
Now, let’s be clear here: some brokers are rude not because they are brokers—they are rude because they are rude, period. However, since brokers are in the business of selling, it wouldn’t hurt to be nice, would it? After all, that client you’ve just been rude to might have been your next big sale, much like how a provocatively dressed Julia Roberts was driven away by two snooty sales clerks in Pretty Woman.
4. Not Being Knowledgeable About the Area They’re Selling
There’s nothing more annoying than a salesperson who’s clueless about the product he’s selling. But in the case of real estate brokers, there’s a special place somewhere for those who haven’t got a clue about the area in which their property is located.
Because buying real estate is a significant purchase, homebuyers before making any decision will ask a lot of questions. And they expect brokers to enlighten them when it comes to the location they’re buying into, their honest opinion on similar condo developments in nearby locations, whether the area is flood prone, etc.
According to Bill Miles, executive vice president of Reply! Inc., among the things that a licensed agent must know about his or her niche are the local schools, amenities, market condition, and public works issues. He adds that becoming a trusted resource in this manner is a time-tested winning strategy.
5. Some Steal Other People’s Listings or Clients
According to licensed broker Jake Loria, this happens frequently when two brokers share the same listing. He said that it would really depend on your point of view, but usually in this situation, there would be at least a 50 to 70 percent chance that the second broker will “steal” the listing if the first one doesn’t have a solid relationship with the seller, doesn’t market the property aggressively, or just being downright lazy. “This is where the second broker will try to fill the void and will have the chance to ‘steal’ the listing.”
Loria said that he’s had a couple of experience where the seller of the property is unhappy of his or her broker, either because lead broker either doesn’t communicate regularly or isn’t active in showing the property. This unsatisfactory performance will prompt the buyer to look elsewhere for help, and most of the time, that help comes in the form of the second broker. Thus, the “stealing” happens.
But the greater issue here is that it creates a general atmosphere of mistrust and animosity among brokers, especially that quality listings in the secondary market are hard to come by. Rey Coquia, president of the Pasay-Makati Realtors Board, told ZipMatch that sellers or property owners are sometimes to blame. “Some are desperate so they talk to several brokers to get their property sold faster.” However, if there’s any upside to any of this, it’s the fact that it forces brokers to inject a bit of innovation to their marketing effort to sell faster.
