by Ross Kaplan on April 26, 2012
Generic Answer: ‘It’s None of Your Business!’
First, a confession: when I’m swamped — as I am now — promptly turning around listing agents’ “showing feedback forms” is not my highest priority.
Taking care of clients is.
That said, “customized” feedback forms 
which pose open-ended questions – and lots of them — certainly don’t help matters (the standard format is multiple choice, or ranking a home’s various attributes from 1 – 5).
Questions such as:
“What aspects of this property worked for your Buyer?”
“What aspects of this property did not work for your Buyer?”
“How does this property compare to other, similar properties?”
“What is your Buyer’s timeline for a purchase?”
What, no question about price??
I can certainly understand why listing agents (and their clients) would like all that info.
I just don’t see why it’s my job — in my capacity as a Buyer’s agent — to provide it.
by Ross Kaplan on March 18, 2012
Ounces of Prevention
What does the Parade of Homes — going on in the Twin Cities now through April 1 — have to do with passing out Realtor business cards?
Just this: if a Buyer you’re working with goes through a Parade home and 
decides to buy it, you may have a “procuring cause” issue with the property’s builder and/or the agent representing them.
Translation for laymen: you may not get paid.
That’s because the “payout” commission — the part of the commission offered to the Buyer’s agent — is technically payable to the agent who’s responsible for the sale.
That’s usually the Buyer’s agent, but there’s a multi-factor test including such criteria as, “who introduced the Buyer to the property?” “Who had control of the Buyer?” and “Who wrote the offer?”
Rather than get into a messy debate over a commission, most veteran agents — myself included — simply instruct their Buying clients to let the agent hosting the Parade open house know 
that they’re represented.
The quickest way to do that?
Hand them my business card.
P.S.: In fact, I typically hand out a slug of business cards to all my Buying clients, regardless of the time of year.
That’s because I encourage them to look at Sunday open houses — while I’m busy hosting my own for selling clients.
by Ross Kaplan on March 9, 2012
What Should the Runners-Up Agents Say to the Listing Agent?
Assuming that the listing agent (representing the Seller) conducted multiple offers openly, fairly, was communicative throughout, etc. — vs. selling the home to their own Buyer* at midnight for $20k less than the highest offer — what is appropriate for the runners-up agents to say to the listing agent afterwards?
A. “Professional Standards will be hearing from me!”
B. “You’re a #$!%!#$ — and so is the Owner!”
C. ”Good luck next time, when I’m the listing agent in multiples, and you’re representing the Buyer.”
D. “Good job, congrats!”
Answer: D.
That’s the correct answer not only because it’s true, but because if there’s a hiccup in the first deal, it leaves the door open for the listing agent to
go back to them.
And just because it’s the right thing to say, doesn’t mean it isn’t very, very hard to spit out, when both the Buyer’s agent and their client are processing their disappointment (yup, I’ve been there).
*Called “single agent dual agency,” I regard that as a classic conflict of interest, and contractually agree when I accept a listing that I will not also represent the Buyer.
Curiously, Minnesota is one of a minority of states that allows such dual agency, provided that that’s disclosed and both parties consent (the incentive for the Seller is usually a lower commission — although in my experience, that’s usually more than offset by a lower selling price).
by Ross Kaplan on March 9, 2012
The Too-Zealous Realtor
Don’t squeaky wheels get the grease?
And in a hyper-competitive multiple offer situation, isn’t an 
aggressive agent an asset? (nice alliteration, huh?)
Yes . . . to a point.
Beyond that point, hyper-aggressive behavior on the part of a Buyer’s agent can become a negative to the Seller (and their agent).
Cause for Pause
Non-stop phone calls and emails asking for updates, making an offer with an asterisk clause instead of an actual price, maneuvering (if not badgering), etc. can make the Seller pause and ask — legitimately — “do I really want to do a deal with this party?”
How will it be to work with them on the multiple steps that inevitably follow signatures on the Purchase Agreement?
Do I really want to negotiate inspection issues, if there are any, with such a Buyer and their Realtor?
Especially if the Seller has a choice — the definition of multiple offers — the answer may very well be “no” (if not, “hell, no!”).
P.S.: Want to get the house in multiples?
Come in with the cleanest offer and the highest price — and no financing risk (either because it’s a cash offer, or there’s a hefty downpayment).
And convey that you’ll be easy to work with.
