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Banging a Noisy Gong…
June 2nd, 2008 categories: Buyer Info, Charlotte Area News, Real Estate News, Seller Info
The past few weeks have had me starting the week with Monday Mattoid Musings, but today felt compelled to share a story
I wasnt sure if to write on this or not, and if so, should it be another topic, but here it is anyway. 
I took a body shot yesterday sort of unexpectedly. Earlier this year I had been working with this great couple, who had found me via my web site (always a good thing). We seemed to click well, and they are some of those folks you enjoy showing properties to because they are nice, pleasant, etc.
They were considering downsizing, and looking primarily at nice condo/townhomes. We had found one that they liked but was well above what they wanted to pay. We looked at it twice plus others in the complex. The really liked it, but kept saying it was more than they were going to pay. The wife particularly liked one unit. There were some other issues surrounding the unit, but at the risk here of breaching some confidentiality, better leave alone and not mention specifics. Anyway, we left the complex. We had some other discussions about the location, possibly moving on. I needed to do some investigation on some of the issues.
You will find me quickly getting on the bandwagon about quality, service, follow-up, etc, but I dropped the ball here. For lots of reasons, excuses, whatever you might want to call them, I didnt get the necessary information as quickly as I should have. Nearly two weeks elapsed before I got the necessary information. At the time there were valid reasons, but bottom line I could have and should have done infinitely better. To make a long story short, the sales numbers were recently released on this specific complex. Want to take one guess who purchased that condo directly from the listing agent? Yep, and at a sales price of over $500,000. You do the math on how much money I left on the table.
Before you ask, no I did not have a buyers agency agreement. I have argued and will continue to argue a long time about the benefit of these agreements. I am a firm believer in firing an agent who does not uphold their end of the deal. In this case I didnt and would have been fired. Would they have fired me if I was on top of things like I should be, and used that as a means of getting a lower price? Possibly, but somehow Im doubtful. I let myself get too comfortable.Even a thick-headed person like myself can sense somethings up when calls and emails dont get returned, so of course
It is easy to sit here and go on all day about taking care of clients, etc. yet if I dont follow through with my preaching, Im nothing but a crazy man banging a noisy gong. Right now Im quite frustrated with myself, and frankly, a lot embarrassed. I thought about not even posting this, as Im not sure if I will get a lot of lectures on improper paperwork, looking like a fool, or whatever. Hopefully others can learn from my mistake. Its guaranteed I learned yet another lesson. In hindsight I can see all sorts of places where I should have had my eyes and ears open better. Maybe I should quit banging the gong, so I can hear the important stuff.
So there it is as embarrassing and painful as it is. To Lee and Sally (not their real names but if they read this will recognize the similarities), my apologies.
Happy Monday anyway to everyone
June 28th, 2008 at 2:13 pm
Not to worry, Big Guy, as we’ve all been there and done that. Nothing like squandering a five figure paycheck, eh?
Betcha stay on it like hound dog on a pork chop from now on.
June 29th, 2008 at 9:51 am
Hey Jeff, thanks for the encouragement. and oh yeah, hound dog on pork chop doesn’t even begin to describe it…