Last Sunday morning I ended up in (another) real estate conversation. No, I’m not a Realtor, but in Virginia they are 33,000 of my closest friends whose commitment to their industry results in me being employed so I have a vested interest in “the biz.”
A new friend, homeowner who purchased in 2007, was running down the details of his horrible experience. From fees he wasn’t informed about to the shape-shifting closing dates, he talked about a few all-to-common hurdles many buyers face their first go round.
This friend expressed some pretty deep Realtor®-hate during the conversation, “My Realtor® didn’t do anything at all.” He also said, “I walked out on closing twice.”
His comment about the lazy-agent is the reason for this post and the second, I think, is the key to a much needed next action for us consumers.
Why is it that consumers tolerate poor customer service in a real estate transaction that they wouldn’t in a restaurant or a shoe store? Is it the complexity of the deal? Or, the google-induced DIY mentality that makes think we always have to “do it ourselves?” Either way, I think there’s something wrong with 1) lazy real estate agents and 2) the consumers who tolerate them.
I appreciate all Realtors® (and their dues dollars), but the reality is they are not all equal service providers. Yes, service providers. Yes, that is what they do. And just like in all other service industries, consumers have a choice.
I am not (generally) a buffet fan for two reasons: First, the general population breathing on my food is not an appealing thought and second, I can serve myself food (very good food) in the comfort of my own kitchen.
When I go out to a restaurant I expect a service, specifically good service. This involves “a server” whose responsibility is to keep me informed, keep me happy, and assist me through my transaction/meal.
I, like most, have been restaurants that have run out of something I want (like crabcakes…yum crabcakes…I’m hungry…ok sorry for the tangent). In a lot of cases, the unfortunate shortage of something I wanted to order hasn’t kept me from having a good experience. Why? Because of good service.
On the other side of the spectrum, my friends will tell you I will avoid some places with great food because the service is horrible. Why? Because that’s my choice.
In real estate, consumers STILL have a choice.
My homeowner friend’s second comment and response to hidden fees at closing is a lesson to us all. We have the right to walk out on a deal. Even in real estate.
In efforts to get the service he needed, he had to walk away until his Realtor® and other parties involved informed him, assisted him, and made him happy….er.
In the end, this guy got through the transaction and got a deal he could be happy with. Sadly, I think he could’ve gotten it done with a lot less hassle and stress because I personally know 12 great agents in his area who provide great service.
In our conversation I commended him for walking out, but told him he should’ve taken it a step further. I suggested that next-time he find another agent.
There are enough great real estate service providers – agents, settlement pros, lenders, etc. – that consumers don’t have to tolerate sub-standard service.
I think the more we tolerate lazy agents and bad service, the more we perpetuate the trend and survival of horrible service providers who ruin the name and reputation of a great industry.
Many of my Realtor-tweets are always chatting about “Raising the Bar” in real estate. As a consumer, I think part of that bar-raising is our job.
When my service is bad in a restaurant, I don’t pay the check. Furthermore, I’ve seen some great places lose revenue and even go under because many people feel like I do. I feel like I have a choice.
Consumers, aren’t we (through our decision making) the determinants of who survives in business? Don’t we have the power to say “no” to sub-standard service?
I firmly believe that association, government regulators, and service-providers themselves should all play a part in industry professionalism (especially in real estate). But, I think there’s also a burden on us (the consumers).
So my question to anyone who has a bad real estate experience is always the same: Didn’t you have a choice?
You choose the agent. You choose the lender. You choose the experience. When you don’t you ruin not only your own transaction, but an entire industry.
