I recently read a book written by a nationally known real estate agent that had some good advice on how to build a great business, but I disagreed with one of his key points. In one chapter, he went to great length to encourage real estate agents to focus the overwhelming majority of their time on “dollar productive activities.” In an effort to demonstrate the importance of leveraging your time by getting listings, this author implied that spending 80 hours working with a buyer was a waste of time. First, let me be the first to admit that if an agent ends up spending this much time with a buyer, it might be a signal that they really aren’t ready to buy a home. That said, I’ve heard a lot of agents grumble about spending a lot fewer than 80 hours helping a buyer in their home search. In fact, I’ve noticed this mindset a lot in the real estate community. Many agents seem to think that spending a long time with a picky buyer is a waste of time. It’s almost as if they expect a buyer to purchase one of the first few homes the agent shows them.
Now maybe this goes against traditional real estate industry wisdom, but first of all, why shouldn’t a buyer be picky? You’re guiding them through what probably will be one of the most important financial decisions of their lives. It’s one thing not to want to work with a buyer who really isn’t ready to buy at all and is wasting your time asking you to show them homes. It’s quite another to turn up your nose at someone who is simply being selective in their decision. In my opinion, the magnitude of their purchase has more than earned them the right to be picky. So, while I think it’s important for any entrepreneur to learn and apply sound time management principles, and to maximize the principle of leverage to improve both the service their business offers and its productivity, it’s also important not to let this give them an unrealistic perception of what constitutes a waste of time in their business.
To read the second post in this two-part blog series, click here.
If you’re in the market for a home in Northern Virginia, give me a call at 703-462-0700 for a current list of the best buys in the specific community in which you’re interested. I’m an experienced buyer agent who grew up in the area and has extensive knowledge of the Northern Virginia real estate market. It would be my pleasure to help you find the right home.
If you’re considering selling your Northern Virginia home, contact me and ask for a free comparative market analysis. This will give you a good idea of your home’s fair market value and will help you decide if it is the right time for you to sell.