Jack Lewitz (IL Real Estate Specialists)

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Rainmaker
2,800,501
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

It really depends on the client.  If it is a  matter of low inventory and they are realistic ... I stay the course.  We might look at tweaking their search criteria or increasing their price point to see what else is out there.  

Sep 27, 2017 07:30 AM
Rainmaker
1,544,130
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

I would be sure they understand you are the ONLY source for listings. Not Z, T or anyone else. There are no secret homes stashed in the back for other people. What's on the market is out there. 

I always ask them how they want to proceed because then you'll get an answer to my questions above. 100 to 1 says they don't believe that's all the inventory. You're lying to them.

Here's one - why wouldn't you sell them a house if you had one?

Sep 27, 2017 07:43 AM
Rainer
352,618
Jim Cheney
Saint Francis Property Santa Rosa, CA - Santa Rosa, CA
Rincon Valley Realtor 707.494.1055

As everybody has said before me, it depends on the relationship you have with them.  I usually tell people "here's everything that matches your specs" and as new things come on the market, I'll be sure to send them to you ASAP!  They know up front what there is and they'll know when they've seen it all.  

Lastly, I generally show one property at a time when my client calls me at 7:30 am, to tell me they see a new listing has come up.

Sep 27, 2017 10:59 AM
Ambassador
4,014,536
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I would certainly stay in touch and let them know I an continuing to look, and perhaps am even networking behind the scenes for them. Re-examine what they say they want versus what they have seen.

Sep 27, 2017 07:30 AM
Rainmaker
1,549,525
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

I try to keep their attention focused on what they already DID see and determine the likes and dislikes to move forward.

Sep 27, 2017 08:30 AM
Rainmaker
722,560
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

It depends. On buyer, property type, scarcity and the market. I have a pipeline of buyers/tenants who need a specific type of property in a particular area. That property can either be built, or wait until something is available that will work. If it's a residential client looking in a price point higher than what they want to pay or attributes that can only be built, "I cannot help at this time. Call me if you wish to modify your criteria, or I'll call you when I encounter something that might work for you."
Serial lookers who can never be satisfied?
🔫

Sep 27, 2017 07:46 AM
Rainmaker
1,329,209
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

You keep in touch in some way to let them know there is nothing new... so they know you're still on the lookout.   How often you need to make a "touch" depends on the individual.  

Sep 27, 2017 07:27 AM
Rainmaker
3,304,571
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Time to regroup and communicate. Obviously you have not heard them or they have not communicated what they need and what they would like to have.

Sep 27, 2017 07:26 AM
Rainmaker
3,363,198
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

It all depends on the client.  In our market there is an extreme lack of inventory in certain segments plus a lack of reality at times.   Toss the concept of compromise into the equation just for the hell of it too. Definitely not the best of times.  Nor the worst either.  It is what it is.  

If they're patient, truly understand the market and have the ability, they can/will buy.  Hopefully with you.    Carrot dangling can keep them informed - some people want that...others not so much.

Sep 27, 2017 08:34 AM
Rainmaker
5,039,626
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

all you can do is stay in touch and keep them updated

Sep 27, 2017 08:04 AM
Rainmaker
3,055,737
Richard Weeks
Dallas, TX
REALTOR®, Broker

I depends.  If you have show them homes that meet their criteria and they have not pulled the trigger maybe it is time to revisit their wants and needs list.

Sep 27, 2017 07:59 AM
Rainmaker
5,425,679
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

You share the facts and your best advice. Sometimes, they will have to wait or change their requirements.

Sep 27, 2017 07:46 AM
Rainmaker
768,268
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

 Evanston Il, a suburb of Chicago.

Jack, you are suggesting your buyer has seen every house for sale in the Chicago region. Wow! But we know that is not true. 

The reality is the buyer expectation and existing market are not compatible.

This may be driven by a price point incompatibility or a faulty 'no compromise' mindset.

Based on your assessment, one situation requires a strategy change while the other means you must wish them happiness, health and prosperity as they go forward in life.

Over the years you have developed resources that allow you to LEVERAGE this situation to not only address the buyers issue but to press forward your message into the community.  This change in strategy approach should compel/require an investment from the buyer that will keep them on board as they continue to contemplate their situation.

DO NOT continue schlepping buyers around when you know the potential of success nears zero. If you can't make it work for BOTH yourself and the buyer, it is time to cut the cord and let their ship sail. You and I know they will come to the knowledge of the truth you shared, but it is highly likely another will reap the benefit. That is life.

Sep 27, 2017 07:30 AM
Rainer
389,343
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

I have them make a list of what they need and what they want, then I find a seller with that property.

Sep 27, 2017 07:25 AM
Rainmaker
1,022,489
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Send them a listing what is in their parameters and let the data speak for themselves.  Since MLS data is public domain, they expect agents to discover pocket listings, properties where agents do not get compensated. It sounds they are working with several agents also. When it is too quiet they bought properties already.  

Sep 27, 2017 07:10 AM
Rainmaker
3,135,121
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

In a thinventory market I have this conversation up-front that there won't be much to see... so I set the expectations early. I have been known to sit people down and log onto MLS with them and show them there is nothing more and start a dialogue about adjusting their search parameters to open up the field.

Sep 28, 2017 12:51 AM
Ambassador
3,356,886
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I have several that are in that position right now - I look for something for them several times a day and am even phoning others to ask if they have anything coming on the market or some to see if they want to SELL! I absolutely don't let that ball drop. Just because there's no inventory today doesn't mean there won't be something tomorrow or next week or next month...stay on it!

Sep 27, 2017 11:01 AM
Rainmaker
538,614
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

I know I just said this yesterday, but here is my point again...

You can't try to talk sense into someone after you have already wasted time on them...it needs to be BEFORE you start showing.

I have an in depth chat with the buyer BEFORE about what they think they want.  We know the market quite well and can say with authority..."what you want does not exist, so what are you willing to give up?"  IF they are not willing to consider that you may be right, why bother burning your gas?

Or I let them know it is slim pickings and their choices will be A,B, or C.

I also let them know that I will first show the "A" list and then the "B" list which will be a step down from the "A" list. 

That is reality...everyone shows the most suitable properties first, but yet most buyers think that they more they look, the better the properties will become. You need to dispell that myth.

Luckily, we do not get tire kickers off sign calls, so the calls that we do get are serious buyers looking for exclusive representation.  That helps.

Eve

 

Sep 27, 2017 09:54 AM
Rainmaker
3,983,365
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I tiell them there is nothing else to see that meets their parameters.  Then I call them 2 times a week

Sep 27, 2017 09:48 AM
Rainmaker
1,247,732
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

You've seen everything there is to see within your criteria.  Now it's time to consider changing your criteria.

Sep 27, 2017 09:28 AM
Rainmaker
1,039,798
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

That depends on the buyer and on you. If you have been open and honest with them and spent the time with them to find out "What" they are looking for it could be time to sit down and have a deeper talk with them.

Are they realistic about what they want and their budget?

Try to pin down what properties have come close to what they are looking for and determine. What they LIKED about them as well as what the DID'NT.

It might be time to adjust either their budget, geographic search or features.

Right now its tougher than normal because the inventory is so low but new properties do come on the market everyday.

You need to ask yourself if these are clients that are really ready to buy.

Good luck 

Sep 27, 2017 08:07 AM
Rainmaker
525,654
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Let the data speak on your behalf. Demonstrate on the MLS that they have seen all matching properties.

Sep 27, 2017 07:50 AM
Rainmaker
933,116
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Never have to do that: I use Instant Inventory!

Sep 27, 2017 05:58 PM
Ambassador
2,358,341
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Stay in touch... don't let them get away.

Sep 27, 2017 01:49 PM
Rainmaker
1,622,311
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Time to dig even deeper Jack Lewitz by searching expireds and FSBO's.

Sep 27, 2017 11:17 AM
Rainmaker
2,464,739
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

In this scenario the client has to either get their fill or call it quits. You can coach, nurture, counsel & prompt this to go either way professionally

Sep 27, 2017 11:16 AM
Rainer
44,273
shirley cicero
Continental West Realty - Livermore, CO
Northern Colorado Mountain Homes and Vacant Land

We are running into a lot of that right now. If I have nothing new to show them, I still email them once a week to let them know nothing new has come up for them to see. That way they know I'm still engaged in looking out for them. 

Sep 27, 2017 10:56 AM
Rainmaker
1,379,217
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jack Lewitz It's time to reassess their needs.

Sep 27, 2017 09:19 AM
Rainmaker
3,205,356
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I still remind them that I look twice a day!

 

Oct 01, 2017 08:05 AM
Rainmaker
442,659
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

I have an email template that says If you can't find anything that meets your criteria, you might consider widening the area, upping your price, or giving up a "must have" feature. Otherwise, you can continue to wait, and look, and hope.

 

Sep 30, 2017 07:42 PM
Rainmaker
4,108,630
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

With thin inventory with specifics needs, you do run out of inventory quickly.

Sep 30, 2017 07:22 AM
Ambassador
4,300,592
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jack Lewitz - we will keep looking until we find the right home for you!

In the meantime, I will keep sending the new listings. Is that okay with you?

Sep 28, 2017 10:48 PM
Rainmaker
4,797,528
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

They may need to be enlightened about the reality of the marketplace.

Sep 28, 2017 05:52 AM
Rainmaker
4,432,267
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Others have given good answers

Sep 28, 2017 05:41 AM
Rainmaker
565,713
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I just try to provide them regular updates, even if all I'm telling them is that I have nothing else to tell them. If they're serious, they will understand.

Sep 28, 2017 05:09 AM
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

There's always something else to see!

Sep 28, 2017 03:49 AM
Rainmaker
1,523,655
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I would definitely keep in contact with them. If they have champagne taste on a beer budget maybe they will get more realistic soon.

Sep 27, 2017 10:06 PM
Ambassador
4,271,076
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I am sure they will find something on Z for you to show them, if you let your clients do this to you.

Sep 27, 2017 06:48 PM
Ambassador
3,983,264
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

The news needs to be fact and told in truth. You are not responsible for manufacturing the MLS market. You can only do your part.

Sep 27, 2017 05:27 PM
Rainmaker
4,492,592
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I think that Lyn Sims gave you a wonderful answer.  A

Sep 27, 2017 03:42 PM
Rainmaker
1,554,252
Mike Cooper, GRI
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Jack, I have done that more than once in the past year. I normally explain to those clients that the house they want may not be on the market yet, and we keep the search alive. We're closing one in a week or so that started in December 2015. We had many months with no showings at all. 

Sep 27, 2017 02:15 PM
Rainer
236,902
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Either they need to come up with more cash to meet their dreams or reduce the number of picky must have's on the list. Now that you invested many hours with them you must put them on a call schedule, not a drive in car schedule. 

Sep 27, 2017 01:13 PM
Ambassador
1,645,000
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Probably walk away because it sounds futile at that point.

Sep 27, 2017 01:05 PM
Rainmaker
3,021,935
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Over the last couple of years with a shortage of listings i have lost buyers who did not believe me that there was nothing to see. When a new one came up, they needed to jump and didnt. It tales communication and often showing them what there is so they know for sure there is nothing

Sep 27, 2017 12:31 PM
Rainer
44,691
Dan Capra
LAER Realty Partners - Lowell, MA
Listing/Buyer Agent

Definitely a challenge...I would set up a lunch meeting or a meeting in my office to go over in detail their expectations vs. what the market is bearing.

Sep 27, 2017 11:10 AM