A Move Towards Mediocrity – And Beyond

by Doug Quance

Associate Broker

Author website

Many Agents Choose To Be Less Than They Can Be

In an industry overflowing with too many agents chasing too few opportunities, one might think that this level of competition would cause an overall increase in the professionalism and dedication of its principals.

I submit to you – that’s not the case.

While there are many several agents like Greg Swann who pride themselves on taking their efforts to the extreme… there are far more who try to see how little they can do to get a paycheck.

The list of offenses is lengthy, and quite frankly – I don’t know where to start.

One that really chaps my rear is the failure of an agent to return a call. As a listing agent, you have a responsibility to return the calls of other agents regarding your listings. It’s not an optional burden.

A recent case in point involves a few listings I showed a few days ago. Of three of them, we got in to see one. Calls to each of the listing agents was made the previous day to ensure availability and ascertain any special showing instructions.

One of the agents had a full voicemail box, so I was unable to leave her a message – but I did attempt to reach her several other times… including while we were at the home unable to get into the combination lockbox, as there was NO combination given in the listing.

You would think that a listing that had been on the market for more than a week would have this discrepancy fixed – but alas, we can not reach the listing agent to inform her of such. And since this listing is getting stale, I’m willing to bet that her voicemail box has been full for quite a while. Angry clients, I suspect.

Neither of the other agents was kind enough to return my call. When we arrived at one of those other two listings, we discovered that the lockbox and sign had been removed… even though the listing is shown as active in the MLS.

This experience is common to many other agents

I hear about this kind of behavior from my fellow agents and brokers all the time. Just a few days ago, I heard about an agent who had an Internet customer flying into Atlanta to buy a $800K home – and that agent failed to show up for the showing. No call, no email, just no show.

This couple wasn’t flying in to look at houses – they were coming to buy. This mediocre agent kissed a nice, easy commission goodbye – for what reason I have no idea. Anyway, the agent who sold them a house appreciated it.

A few weeks ago I showed a property to a client, and the client really liked it. So much so that we spent an hour there. I gave my card to the seller (who was present at the showing) and told him to have his agent call me. She did no such thing. Instead, she allowed her client to enter into a binding agreement the next day without ever talking to me.

The showing was on Saturday, and on Monday at 9:30AM I put in a call to her on her cellphone. No answer, so I left a voicemail. An hour later, I called her office… who put me through to her cellphone… again, no answer. I finally reached her three hours later to discover that the home was under contract.

Huh? Anyone who has recently visited one of my listings – when an offer on that listing has been presented – gets a phone call from me. Unless, of course, I have already talked to them and know that my listing is of no interest to their client.

But I digress.

Needless to say, I was rather surprised that the seller did not have the agent call me before he accepted this offer. (I found out later that he did, in fact, tell her to call me… and she did not.) To tell you the truth – I was surprised there was an offer, as the property was is overpriced… and overpriced properties seldom get acceptable offers in the first month of listing. I say “is overpriced” as that deal fell apart on appraisal – and the seller is unwilling to reduce the price to the appraised value… so back on the market – overpriced – it is.

This communication problem spills over to the end user, as well. I hear the same thing from consumers who claim that they have called several agents before anyone called them back… even days later.

Why is this phenomenon taking place?

Perhaps it has something to do with the level of brokerage fees… and the number of agents who compete for those fees. As the number of agents goes up – and the average commission goes down – many agents are racing towards the bottom.

Here in Atlanta, we now have discount brokers advertising on the radio – touting their $499 upfront listing fee. In other parts of the country, the listing fee may be non-existent. Nada. Nothing. Gratis.

The problem with discount brokers is that they’re usually worth what you pay them. Make no mistake. It’s part of the law of economics. It’s part of human nature. There is no free lunch. Don’t believe me? Would you do the same job you’re doing now for 10% of your current compensation? How about 20%? 30%?

Dear old Dad once told me, “people tend to rise to their level of incompetence.”

I am thankful that not all agents subscribe to this race for mediocrity

There are still good old-fashioned agents out there who work hard for their clients… and I am always pleased to run into them.

I guess it’s not much of a surprise that none of them take listings for $499.