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South Bend Home Loan

Monday, October 15, 2012

The Realtor Who Cared Enough to Say No


Let me just start by saying that I really like Realtors.  In general, they are a caring, funny, hard -working bunch of entrepreneurs, so – yea - my kind of people. 
Every now and then, though, a Realtor and I butt heads on what a buyer’s price range should be.  I’ve been known to encourage buyers to lower the price range for the home they buy even when they are technically eligible to buy at a higher price.  Not all home buyers really understand their budgets, so when I review their financial situation with them, I talk to them about how wise and realistic it is for them to buy at the very top of their ability.  Realtors don’t always think I should be offering this advice, and I’ve been scolded a few times for it.
Which brings me to my story – Last week I was talking to some first time buyers.  They were eager to buy a home at the top of their price range.  They are financially able to get a loan approved at that level but, as I reviewed their information, I didn’t feel that they should.  They were relying on her part time income and his overtime to make it work, but he’s about to be changing to a new shift that may not have as much overtime and she’s due to have their second child so her part time work may slow down.  While they could make the payments now, I felt that they may not be able to as easily in the future so I told them that.  I asked them to consider buying a lower priced home that gave them more breathing room, and they said they’d give it thought.
A few hours later, my phone rang.  Caller ID said it was their Realtor, who is a gentleman I haven’t worked with a lot.  I’ll admit it – I was nervous as I picked the phone up.  I started bracing myself for him to yell at me about talking his buyers into a cheaper home and wasting his time seeing he’d already been showing them some at the higher price range. 
This Realtor didn’t yell at me though.  He didn’t complain about wasted time or reprimand me about overstepping my role.  Instead, he thanked me.  He said he had been worried that they might be putting themselves into a tight spot and he never wanted that for his clients.  He appreciated me suggesting limits and would support my suggestions when showing them homes.  If they asked to see a home above what I felt was wise, he said “I’ll just tell them no”.

After we hung up the phone, I just stared at it for a minute in shock and delight.  We’ve all heard bad stories about Realtors (and mortgage lenders) who aren’t looking out for the buyer’s best interest.  Here’s proof that some -  likely most – really do.  Thank you, Mr. Realtor, for caring enough to say no.

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