5 reasons you might not want that client

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Smiling man shakes hands with real estate agent while man's wife looks on.

04/18/2016 | Author: Editorial Staff

You know that a potential client might interview a few Texas REALTORS® before finding the one who meets his or her needs … but you may want to ask prospects a few questions in return before agreeing to help them buy or sell property. Determining their motives ahead of time can help you avoid red flags like these.

Unrealistic expectations
Think hard before accepting a listing from a seller who insists his house is worth more than the market will bear, or a buyer set on getting a bargain on a house priced much higher than his budget.

A transaction outside your experience
If you’ve never handled a short sale, managed a rental, or completed a commercial transaction, you may want to refer those prospects to Texas REALTORS® who have. You’ll save time and avoid problems—and you still can earn a referral fee. Remember, Article 11 of the Code of Ethics prohibits you from providing services outside your field of competence unless assisted by someone with that knowledge or if you disclose to your client your lack of experience.

Absence of authority
You will experience smoother transactions when those you’re working with can make final decisions. When that’s not the case, try to get direct access to the decision-makers.

Lack of motivation
Good screening questions will reveal how quickly a prospect wants to buy or sell. If that time frame is vague or long, you may want to keep in touch until the person is ready to act.

A track record of failure
If a client has failed to achieve his goals while working with other agents, ask why. His answers may indicate that you’ll get the same result.

Though you can decide not to take on clients based on factors like the ones listed here, remember to adhere to all fair-housing laws and the Code of Ethics.

Check out the May 2015 issue of Texas REALTOR® magazine, where this list originally appeared, for 52 other helpful tips to improve your business.

Categories: Business tips, Buyers, Sellers, Homeowners, Renters
Tags: texas realtor magazine, magazine, business tips, clients, prospects, buyers, sellers

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Legal disclaimer

The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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