Buyer too smart for his own good! New campaign slogan "Buy Responsibly"

True Story:

A buyer of mine lets call him "Jack Bum" and me had been looking at homes together for the better part of 7 months. Let me give you a rundown of the value added "Jack Bum" received:
-mls listings on day 0
-non mls and exclusive listings thru my contact base (so he's seeing more product then just about any buyer out there)
-explained market value and pricing using 3 different methods so he could go into the market with as much confidence as possible. Homes are priced all over the map and selling all over the map
-lessons on strategies for setting up for offers and how to best position yourself in multiples
-countless hours of coaching

So...heading into month 8, this buyer decides to stop in at an Open house on his way home. He puts in an offer with the listing agent.
He buys the house. Feels guilty and doesnt want me to know.,

Finally I find out. I inquire as to which house.

Here's where we both lost out.

The particular house that he bought had been on the market for 2 years with 4 different agents. The house wasn't discussed as it was above his range.

This time around the house was still above his range but less so. The 4th agent dropped the price a tad. Jack Bum had no time to waste and put an end to our 7 month relationship for the big victory.

Punchline: House had been marketed for years. The owners were prepared to take much less then asking price but felt that in this kinda market maybe they'd find someone desperate enough to get into the area and they'd overpay. Jack Bum wins!!

I had to tell him that going around me probably didn't save him any money (many agents don't have that sizable reduction if they double end a deal, if any deduction).

Anyhow, I had to inform my client that if he thought he saved 10k, I could have saved him six figures b/c everybody in the industry who worked the area knew that these sellers were leaving town and needed to sell.

I lost a good client and my too smart client lost over 100k easily.

Moral: Don't be too smart and too desperate to get a house. "Buy Responsibly". This may be my new campaign slogan.

For more information, call or email,

Michael Gruenstein MBA CSC
http://www.TheSmithsBuyAHouse.com
http://www.mgruenstein.blogspot.com
mgruenstein@trebnet.com