How sellers can replace most of today’s agents.
And save thousands of dollars in commission!
As far as agents go, James is one of the better ones. He’s been in the game 20 years, which, unfortunately, means he’s caught many bad habits, although his integrity won’t allow him to charge sellers any upfront costs.
Aside from bad habits, something else has happened to James: He’s forgotten how to sell.
Like most of today’s agents, James is in danger of being replaced by a bucket.
Seriously, when you think about what most agents do these days – put an ad on the internet then sit at an open-house waiting for buyers to turn up – they could be replaced by a bucket.
Of course, the bucket – because it can’t talk (which is probably an advantage) – would need to be strategically placed, ideally near the front door, probably sitting on a stool (as agents do).
The bucket would need a sign on it saying: “If you are interested in this home, please leave your details in the bucket.”
Consider what most agents do these days. Then ask yourself: Could I do what most agents do?
Okay, here’s your test.
Could you put an advertisement on the internet? Of course.
Could you sit at your home for half an hour waiting for buyers? You bet.
If buyers say they are interested, can you get their details? For sure.
Now, what’s so hard about these steps? Nothing. It’s easy.
But this is exactly what most agents do – honestly. Not much more.
Why are we paying agents thousands of dollars to put an ad on the internet (which most expect you to pay for!) and then sit at your home for 30 minutes (out of 10,080 minutes a week) and wait for buyers to turn up?
Yes, you could replace such agents with a bucket.
Because look what happens when something goes “wrong”. Most agents are almost clueless in the skill they are supposed to possess – knowing how to SELL.
Here’s a current example involving James, the agent:
A lovely family is selling their lovely home on a lovely block in a lovely street in a lovely town near Perth. At $250,000, this home is a great investment and a great buy for a first-home buyer.
I recommended the sellers use James. “He’s honest and he won’t charge anything until your home is sold.” They took my advice and signed-up with James.
Three weeks later, James calls. He’s in a panic.
“Neil,” he says, “I haven’t had any enquiry on this home. Not a single person. Nothing. It’s been on-line three weeks. I have never had this happen. I don’t know what to do.”
Without wanting to be too hard on James – he’s a nice guy, remember – what he’s doing is what most ‘Bucket Agents’ (as they should be called) are doing these days. Nothing.
Well, “nothing” as far as what they should be doing – and that’s selling homes.
Most of today’s agents don’t know the first thing about selling. At best they are order-takers. At worst they are on a par with aluminium buckets – or plastic buckets (much cheaper).
Seriously, if you, as a seller, did put an ad on the internet with the address of your home and the designated 30-minute inspection time and you did leave a bucket at the front door, it’d soon be filled with details of interested buyers.
I repeat: A bucket would be as good, if not better, than most of today’s agents.
So, back to James who’s in shock because “no buyers are calling”.
After I heard him out, I said: “James, you might have to do something most agents don’t know how to do.”
“What’s that?” he asked.
“You’ll have to SELL!”
These days, most agents are lazy, I said. The boom, especially in eastern states, has made them lazier. They rarely do more than put an ad on the internet and then sit at a home for 30 minutes.
When dozens of buyers turn up, all eager to buy the same home, these agents think they are heroes. And then, when sellers pay thirty or forty thousand dollars in commission, agents’ egos swell to bursting point. Just check their cars.
After almost thirty years of economic growth and a never-ending property boom, agents rarely do any selling. Times are too good. And good times breed bad agents, lazy agents, those agents who have no idea how to sell.
Just wait until tough times come – most of today’s agents will be wiped out like when rabbits got hit with myxomatosis.
So, how does James sell a home if he hasn’t got any incoming enquiry?
“Have you ever had investors buy properties from your real estate office?” I asked.
“Of course,” he said.
James should start calling investors who’ve bought properties from his office. “G’day, I have a property you should consider as an investment.”
That’s all he needs to say. He’s now selling. He’s now working hard. He will sell the home.
And to agents who hurl abuse at me, here’s a question: When is the last time you called prospects before you asked your sellers to pay for advertisements? Probably never.
Shame on you – expecting sellers to fund your laziness.
You deserve to be replaced with a bucket.
You are a Bucket Agent.
FOOTNOTE: At the time of writing, James has called 15 investors and received interest from three. He’s confident he’s discovered a new way to make sales – it’s called “work”.
PLEASE NOTE: Our focus is upon helping consumers. Abuse from agents on our web site or Facebook page will be deleted, ignored or well publicised – it depends on our mood.
But one thing will never vary: We will never stop doing what we love most – helping polite and honest consumers get the best deal possible in real estate. And, of course, if any agents are serious about taking care of consumers, we’ll help you too. Thank you.