Why it’s important to manage expectations of a buyer.

A Personal, bespoke estate agency based in Essex

Why it’s important to manage expectations of a buyer.

Something really got my goat today. but I am so fed up with the lies within this industry. everyone between the agent to the solicitor to the broker all seem to get off, getting one over on the other. its just counter productive.

I love the job, i really do, but i hate the industry.

We are responsible for people’s future. This is peoples lives we are dealing with and some people just take no responsibility for their actions and instead try and use somebody else as a scapegoat.

It happened twice to me in the past couple of weeks. So, get this…

There was a lovely lady who had her property on with another agent for around 6 months. Couldn’t sell (apart from the fact it was overpriced to start with) the agent wasn’t proactive, the only thing they were proactive with was ensuring they were in their car at 4.59pm to go home…

So, I got chatting to her, seemed to get on fantastically, put a red cape on (no spandex pants though) and put it on the market AND sold it.

Everything was great, my client then found a property which to everyone’s understanding had NO ONWARD CHAIN!…

Now, lets be frank here, we all know what ‘no onward chain’ means, there is no confusion on that…

So, we get the process moving, we move nicely and get to the point of exchange. We agree a date and go for the exchange to be told “We’re sorry but the onward purchase is not ready” ….

Firstly… “WHAT!!!” where has this come from! Onward purchase! It’s got no chain!

Speaking to the agent above us, he gave me a fabricated story about how he has only “just found out” ….

So. I took it into my own hands, found the property at the top of the chain, called them to speak to them. And guess what… they spoke to the agent above us (and the same individual I spoke to) just over 2 months ago!!! so he hasn’t just found out. So why lie?

So, a property that was “no onward chain” is now “onward chain” … and they aren’t ready.

You see, what gets me here, is no apology, no trying to correct the situation, just excuse after excuse… and its cowardly.

Instead, its left down to me to speak to a seller and buyer to let them know they aren’t going to be completing in a weeks’ time and that we could be waiting a further 4-5weeks.

How could this be avoided?

By simply not lying. That’s it.

Should they have told us 8 weeks ago there is an onward chain, every bodies expectation could be managed, and they know where they stand. Giving them the choice to continue should they wish.

Instead, it was kept quiet, and only come out at the last knocking where everybody is held over a barrel… all packed up and are now going to have to live out of boxes for the next 4 weeks.

Now those who know me well, know I’m not one for swearing… but situations like this really get at me…

Overall, if your reading this and you’re an agent, simply cut the crap, drop the bravado. Its not fair and its not a professional way to do business, especially when you’re playing with people’s future. we are all doing a job, work together and spend less time bitching about each other and more time trying to solve problems and work together to do so.

If you’re a homeowner, it is so vital that you don’t just buy into the sales pitch of the agent and understand who it is your dealing with an ensure they are taking full responsibility for your sale. The knock-on effect of their actions and communication is astronomical. If its not done correctly it could cost you a sale. Managing expectations is so, so important.

Lucky for this agent, neither party is going to pull out of the transactions, however it has been very close to the chain collapsing because he simply was not honest and didn’t manage the expectations of his buyer correctly.

And breathe… rant over.

 

 

 

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