Showing Your Best Houses Between The Raindrops

By Lona Rubenstein | 3 Comments

Southampton - Let's remember some anecdotes:

First, from Jude Lyons, Westhampton Beach Real Estate on the influence of weather. "Rain is killing us, Lona - killing us - no one dying to get out here. Rain predicted all week - doesn't matter if they are wrong, the prediction alone is enough to kill us."

A property listed by Westhampton Beach Real Estate

Tell me about that Jude. A season weekend gone is business lost. Cannot make it up. On the other hand you could be doing real estate in the Congo! Thanks for the heads up, Jude, on that very high-end forced auction sale (by law enforcement) west of the canal, prices did come in where they ought to have - in the multi-millions - so it wasn't the feared bargain basement event. Some people out there have the bucks, want to be out east, and will buy. You just hope it's in your lifetime. Now for anecdotes. We ask: are buyers really liars? as the tired industry canard proclaims?

And, of course, we know the answer.

Here are some true stories as to the basis for this maxim.

Irene Gould, a long ago veteran East Hampton broker - a professional surpassed by none, and associated with the long ago Amaden/Gay is working with a loyal customer, a summer renter for several years who now thinks it is time to buy. He tells her his budget and she shows him all the inventory - a substantial amount she has within that budget framework - keeping diligently in close contact with him whenever anything suitable comes up within his specified limits.

They work hard together. This guy is a serious buyer. They see many, many houses.

Enter a beginning salesperson with another agency. (I'm not sure how he gets there)! He shows this guy some houses, too. The customer is not interested. One day the same beginning salesperson knocks on the customer's door at home and says, "I have something I want you to look at. It is South of the Highway."

(We're talking prime, prime here - a perfect address way over the man's announced budget).

"I would be wasting your time to go. Too high for me," the customer says sincerely.

"Just come along for a ride," the young salesman insists.

"Okay," says customer. "What the heck."

Yeah, right. What the heck! He buys the house that day.

A property listed by Town and Country Real Estate

When Irene calls and says, "But you told me. I listened. I followed your guidelines"

Yes, well, buyers are liars!

This next one happened to me, fortunately.

I had started my own firm and I placed a small ad in the New York Times classified for a low priced home in Springs. (I think it was $139,000 - nothing unusual about the offering except good value for the money). A customer responded to the ad. She and husband came out two days later. I show them the home, the area, the proximity to the beaches, the whole nine yards. They look at each other, smile, then say, "Okay! What do you have on the oceanfront?"

I show them an Amagansett oceanfront listed at three times more than the Springs home to which they had responded. Deal made within the next two hours.
Buyers may be liars. Testing, testing one two three.

Last one:

Daughter Amy takes out customers after interviewed together with me (a practice I followed for new customers, file it under "We know the Band Leader" school of selling). We would talk about what they are looking for, how much they wanted to spend, what area they wanted to be in. It was clear to them they wanted to be in the Northwest area of East Hampton Town; wanted a contemporary home in the woods, around $200,000 to $250,000. She goes to get keys. Comes back quickly. I am surprised.

Amy shows them one house - therefore getting only one key - in East Hampton Village - manicured lawn, a traditional home, south of the highway, walk to everything asking $590,000. Bingo! Sold that day. Customers saw nothing else.

Buyers may be liars, but realtors can be weirdly intuitive.

How do you deal with these kinds of variables in the business, the vagaries, the roller-coaster ups and downs? Especially with the Irene Gould tale told above? There is no way except as one agent who worked for me suggested, "Put lithium in the coffee pot." Because East End real estate is a very strange business.

• Lona Rubenstein is an accomplished author residing in East Hampton. Her new book, "Getting Back in the Game: Finding the Fountain of Youth in Cyberspace" can be found at local booksellers and online at www.gettingbackinthegame.com. For more real estate news and views contact Lona at lonafirst@aol.com.

Comments

Marilyn Rogers from Hampton Bays says:
Being in the sales, I am always eager to work with realtors who make their living on commissions. However, I am at a loss to understand why the sale ends when the papers are signed. This should be the time to become friendly, stay in touch and hope that additional sales come as a result of the first one. Point in fact, as an investor, after I bought my third house from the same broker, I would have thought that a continuence of our knowing each other would have been the case. However, as new homes come on the market, broker never called me to let me know about them. I have since bought an additional three homes. Where was that broker?

North Sea Citizen from North Sea says:
As a broker for many years, the buyer loyalty has changed. If the same buyers had to put up with what we put up with, they probably wouldnt have the income they have to buy a home. The general attitude and respect for a professional are placed second to show me the house. The new agents minted typically do not have much knowledge about the business or area and only care about the sale and commission. When using an experienced agent one gets more than the house, they get experience of area, events, government regulations etc., If we could bill at an hourly rate, like the customers are paid, whether or not they buy something, it would be a different business all together. Albany is finally listening and increasing what it takes to be a "broker". So who do you want to represent you, someone who knows whats up, or a shot in the dark. Millions of dollars is a big gamble for russian roulette...........Caveat Emptor!

laurie mindnich from riverhead says:
Buyers aren't liars. They just work with the agent with whom they feel most comfortable. Hopefully, this buyer had fiduciary/buyer agency from the "new" agent- I'm guessing (could be wrong) that the first agent represented the sellers (wonder if it was disclosed). Buyers aren't stupid- nor are they "liars". Just seeking the best deal, with an agent that understands their wish list, and responds accordingly. No need for name calling, as desperate as the Hamptons are to sell houses.

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