Too Many Cooks Spoil The Pot...In Real Estate???

You know the saying? "Too many cooks spoil the pot!" How many times have you used this in your kitchen, when trying to put out the spread for a large party? Everyone wants to help and they do, to the point of disorganized chaos. This can and does apply to Real Estate too, if you are house hunting.

Rochester, NY and the surrounding market are small markets. Our Multiple Listing Service (MLS) is available to the public via Homesteadnet.com and Realtor.com. Locally, most real estate companies and agents that have websites also offer search functions that allow buyers to see what is available in their desired areas. By the time a buyer is ready to seriously look for a home, they have been in contact with several agents at the very least.

If buying, logic would seem that if you have two or more realtors working for you, that you will find your desired home faster. In this case, logic is false! The main reason being motivation, on the part of the agents. An experienced agent will ask if the buyer is working with anyone else.

There could be many reasons why a buyer decides to call another agent. One of the most common is the buyer is hoping that they might get different results for their search. In the Rochester market, this is unlikely since it is such a small market. Another reason could be that the buyer is dissatisfied with their agent. If this is the case, the buyer usually articulates the problem if prompted by questions the agent (should be asking). The agent might then ask that the buyer end the unsatisfactory relationship with the other agent, and work exclusively with them. The buyers response in part gauges how serious the buyer is.

A saavy agent wants to determine if working with a buyer is likely to be a positive experience. The agent takes into account the time and money they will expend on helping a buyer find a home. If there is a possibility when working with multiple agents, that agent number two's efforts and money (spent on gas, paying a baby sitter while they show a home etc...,) could be for nothing-should agent number one scoop agent number two on finding a home, agent number two is much less motivated to go out of their way for the client. If a buyer is working with another agent, agent number two might still work with the buyer, but not be as focused on their needs. This buyer will not be a priority client in their book. When this occurs the buyer will not receive the full attention and energy they normally would receive from this agent. In addition, should agent number one find out that the buyer is working with another agent, they too can demote the buyer from being a priority for pretty much the same reasons agent number two does not make them a priority client.

Knowing this, a buyer would be tempted to say that they are working exclusively with which ever agents asks. Since Rochester is a small market, it's only a matter of time before the agents find out this is not the case. Should this happen, the dynamics between the client and agent(s) will change. Once an agent feels they are being deceived, they no longer trust their client. Motivation to do a good job for their client is diminished.

The important point is, while you may work with as many agents as you like, you are better off working with one agent that makes you a priority. Working with multiple agents and not being a priority client with any of them, ensures that you will not get the focused service and advice that you need to be successful in your quest for a new home.