As a property buyer’s agent for nearly 20 years, I get to spend a lot of OPM – that means other people’s money. That may sound like fun, but it comes with responsibilities and obligations. It also requires a degree of trust on the client’s part.
It requires even more trust in cases in where I have to make a call on a client’s behalf when, for any number of reasons, they are not able to inspect the property themselves. This has happened more than a few times, and I am fully aware of the responsibility it entails. I have sometimes been asked to make a decision for someone when multiple million dollars of OPM is at stake. Be careful!
I have become more comfortable with this over time as I have grown more confident in what I am doing. The number of times I have not had the courage or confidence to tell someone they should make a purchase is a lot more common than putting someone into a purchase that they, or I, may later regret.
The other demanding situation is to find something perfect for a client in the first week or two of the search. Usually when I have taken a client through a month or two of solid searching and inspections, we know when we have found something that will work. But there are many times, especially in this strong market, when I find something for a client immediately and have to tell them to jump without any comparisons. They are only taking my word for it.
This story just happened with a new client. The first rural property I showed them was ideal and I had to say do not hesitate. I knew that if we did not do this one we would be on the road for months regretting the first thing we saw. How do you make this seem like good advice and not just getting a deal done? Especially when the level of mutual trust has not had time to develop.
The other stressful scenario happened a few years ago now. The client and I had been through a series of missed opportunities; being gazumped and outbid at auctions, etc. I found something that would work and knew it was our last chance before the frustrated client left the area to look elsewhere. The client was on the other side of the world and in a conference where he could not be disturbed. We got into a bidding war with someone else and I had to do the deal with the clients brother-in-law. That’s two degrees of separation on spending OPM – and it was quite a substantial amount.
It is a privilege gaining a client’s trust and confidence and being able to provide a good service for them. When that service includes assisting them in making one of life’s major decisions, it is truly rewarding.