Today I held open house at three of my listings with the help of two other agents.
At the one I was holding open, I got a visitor that made me stop and think. He was one of those folks that seems to be an expert on everything. To the point he was determined to teach me my business. Normally I would have let it roll off my back. The problem was that there were other visitors in the home and everything that came out of his mouth was 180 degrees out from reality. He is the condensed version.
Misinformed Expert: You are priced too high. How much was your appraisal?
Me: We are not in escrow yet, so there hasn't been an appraisal.
Misinformed Expert: You should never list a home without getting an appraisal. My best friend is an escrow officer and he would never accept a contract from me until we had an appraisal.
Me: Sir that's just not true. The appraisal is for the lender. If we get one up front, the lender can't use it and will still need to order another one.
Misinformed Expert: Well then you don't know what the home is worth.
Me: I know exactly what the home is worth. That is why I do a market analysis for the home.
He couldn't stop there. He overheard the other couple who came in mention they were military. So know he needed to give his expert opinion in that direction.
Misinformed Expert: VA will only loan on the value of the land, so unless you are willing to drop the price considerably you will not be able to sell it to them.
Me: Sir, you are completely misinformed.
Misinformed Expert: I am ex-military and know about VA.
Me: I do VA transactions regularly. They do a full appraisal and count the improvements along with the land. Since our market has stabilized the VA appraisals have been consistently been coming in at the expected levels.
Ooops, I stepped in there. That one got him.
Misinformed Expert: Stabilized? This market is not stabilized! It is an extreme buyer's market!
Me: How did you determine that? To be a buyer's market you need at least 6 months inventory. We do not even have half that in our town. Inventory levels have dropped considerably the last 6 months.
Fortunately he headed out the door and was off to train another real estate agent.
Aloha!
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Randy L. Prothero, REALTOR®, ABR, AHWD, CRS, e-PRO, GRI, SFR
Century 21 Liberty Homes
Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers. His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.
Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) and the Leeward Regional Chairman of the Honolulu Board of Realtors. To improve overall professionalism in his area Randy also offers classes for real estate agents.
www.HawaiiRandy.com * Oahu (Honolulu County) Property Search * Hawaii Military Relocations
I always wonder if people like that ever realize how they are perceived??? Refreshing post.
I sure miss Hawaii.....
We hear this too frequently. Thanks for sharing.
Sadly, they go through life attempting to show others just how smart they are. He's probably have behaved in the same manner if meeting an astronaut or a plumber or a minister.
Folks like that are known as "Know it alls". After a while they become quite boring.
Randy.... these kinds of so-called experts can get under your skin. It's a shame that he did this in front of a couple and then jumped on them in regards to VA financing. Overall, it can be hard to bite your lip when up against someone like this so-called expert.
Just be glad you're not his spouse! You only had to deal with him for a few minutes!
hopefully MR. i-know-everything was not in earshot of any other buyers....you can't teach anyone what they won't learn !
Hi Randy - You handled his know-it-all remarks very nicely. People like that must go through life in a miserable fashion. Unfortunately, they're out there and they just love to demonstrate their expert knowledge about everything in life....I try to avoid folks like that, or find a way to politely extricate myself in those situations if at all possible. Who on earth wants to spend any amount of time with someone like that?
Ann
Randy...
I would have probably asked what he did for a living, then I would ask why he wasn't selling real estate!
Excellent post Randy. I bet you could continue this thread for a while.
Randy,
And I'm sure he got all his information misinformation directly from...the internet.
Rich
I wonder why he came by the open house in the first place? It sounds like he wasn't interested in viewing the home.
Randy,
Thanks for the post. It gave me a chuckle. Sounds like you handled yourself well.
Randy, Well, you told him what he needed to hear, although he probably didn't listen to anything you had to say!
I like Richard's approach. Except, he might have decided to sell real estate and ask YOU to help him get started. No thanks!
Randy,
There must be a class on this stuff, cuz I either met one of his students or his mentor last week.
Knowledge is power...In this case you had the upper hand...
I've met some COL's who fit that profile. No disrespect intended towards the good COL's.
Worse yet are the unteachable know it alls !!!!!!!!!!!!!!!!!!!!!!!!!!
Gosh, don't these peole have anything BETTER TO DO???!!!! Go fly a kite!
Randy,
You did very well. You responded with facts that you could back up.
Sometimes I am caught so off guard by someone that would do that, it takes me a little time to figure out how I need to respond and then it's sometimes too late to control the damage.
Thank you for bringing this topic up....I have so many "experts" here that I am amazed I am still in business! They all come to my open houses and try to poke holes in any thing good about the construction and finish work...I have several new construction projects that I
am trying to sell---I dread it when I have more than one person to work with and one of them is one of these "experts"!!
Hello Randy:
I am actually working on a post with a similar subject matter. I appreciate you calling out a specific case. Seems the expert tag is loosely thrown around, perhaps by the people least able to claim it.
Glad he met his match. The value of a true and licensed professional will always shine above folks like him. I think had he continued any longer I would have respectfully asked him to leave my clients home because they had employed me not him.
Randy, its a wonder how we can do our job with so many experts in this world. They don't stick around very long when you get the upper hand.
Sad a peer would even do this to another agent especially with potential clients in the home. You are a better person and I would have been - he would have been asked to leave.
Seems everyone is a Real Estate expert. Or they draw from experiences decades ago. Should have asked how long he's been licensed ;)
Randy,
Maybe he'd slept at a Holiday Inn Express the night before :)
Way to go Randy! What's sad/scary is that this nut job is probably telling this misinformation to all of his friends and co-workers and may be keeping a lot of potential buyers away from exploring buying. Ignorance is not a good trait in real estate!
Was there a way to politely show him the door? I wonder if he was actually in real estate or just trying to puff himself up...
I have the opposite experience with a well researched Buyer, loaded with all the current comps, and in contact with a reputable appraiser, with all documents and data supporting a much, much lower list number, in stall position on an overpriced NEW listing. Sometimes the Buyers are well researched and accurate, sometimes not.
Your post is the reason we blog! We want to spread accurate information about the market in our area. Good post!
The difficult thing in dealing with these people is that they have a voice louder than a revival minister.
My late father in law always said " it never does any good to argue with someone dumber than you, you will never learn anything" unfortunately in this case, others were in earshot and he needed a some professional guidance.
You did good!
Yeah, unfortunately there are people that don't want to hear anything because they know everything. Would be really fun to hear his conversations with a doctor.
Good job! You held your ground, and because you actually know what you are doing, were confident in providing your answers. Buyers will probably pick up on this, so I don't think they would've been scared off by someone like that.
Unfortunately, real estate 'experts' are out there by the truckloads. Or the guy was just looking for a novice agent to convince him into screwing his client and giving away the home.
Oh, good grief! That raised my blood pressure just READING about it! LOL You're better off to let him go on down the road and prove his point (and his manhood) to someone else. Good for you for handling it so well. I'm not sure I could have been so polite in the same circumstances.
I'm with Richard #8! It happens all the time and you can't take it personally. It sounds like you handled him well.
Tom
This guy listens to way to much TV and Back Yard professionals! I needs to get a life!
It is always worse when others are around to have listen to it and perhaps be scare away by it
Randy, so glad you put him in his place, especially when you had other perspective buyers viewing the home. They would have been completely misinformed listening to him, if you had not stepped in to correct him.
Good job! And like the others have said, we get this all the time, I've had a few over the years as well, and most of the time I just let them ramble on... except if there are others around, I will step in and correct him.
Never been to Hawaii... but someday .....
oh wow...oh me oh my...he was just opening his mouth without knowing a thing. silly and disrespectful to boot. what did he say as he was leaving? i feel for that poor agent he was about to train. sheesh
I love meeting people like that! It's fun to talk to them about what they know and then completely derail their "facts" with reality. More often than not, they don't listen but it's still fun. :)
Randy:
It is a challenge not to want to go toe to toe with an individual such as this. What I have found to be a EZ exit out of such a dilemma is to ask this person to set an appointment with you to discuss the real estate market, again & again until they either set an appointment or leave.
Randy;
Just when I thought only I got those kind of buyers..........Happy to hear onthers do too.
Dave
Ask these guys questions. Let them respond. Don't give them your opinion and just listen. They will back themselves in a corner they can't get out of. When the time is appropriate you can just nod slyly and say "I see..."
He says, "How much was your appraisal?" then respond with this line of questioning:
"Do you think an appraisal is necessary before the sale?"
"How much do you think it would appraise for?"
"How do you do arrive at that number?"
"Are you an appraiser?"
"Have you ever appraised anything in you life?"
"How do you know what you are talking about, since you admit you have never appraised anything in your life?"
When he answers the final question you say, "Oh, I see..." excuse yourself and then turn to talk to one of the other people in the room and let him find the door on his own. My father used to put it this way, "Never argue with a moron."
Randy
For your belly button to stand out, perhaps how you showcase it makes a difference. Same with an opinion. How you submit your "say so" has a lot to do with how it will be received. Everyone has a belly button and an opinion, so lets creative here......thank you
Last week, I actually had one of these "helpful" people call me a few days after he visited the property to teach me a few other things that he thought of after he left!
Where do these guys come from??? Another dimension I think. Apparently that the professionals in our business do complete market analysis before taking listings. Granted.... some don't but the vast majority of us do. Obviously this guy was either new or just plainly stupid. Sounds like you handled him very well. I probably would have looked blankly into his eyes and said..... Really?? Is that what you think? And then just let him foam at the mouth.
Some people have just had bad role models in their lives and that is the only way they know to express themselves. I have found that asking them questions is much more powerful then attempting to show them what I know. Questions like, What makes you think that??? Where did you get your experience in that area? How many years have you sold real estate?? How many real estate transactions did you have last year?? When is the last time you did a mortgage?? That usually slows them down quicker!!!
I run into people like that daily.
Do you need a business partner there in paradise?:)
At least he was just visiting and not a resident of your client list...! Similar frustrations have emerged for me when a Know-It-All relative or friend disrupts the decision-making process of a good client. Hopefullly these encounters are few and far between.
Had to laugh at Kathy's (#5) comment -- I live with one of these "experts"--my wife! I told her to clear her calendar for 2 weeks this winter, as I am sending her to school to get her RE License -- they she can really be an "expert". In her defense, thought, she is much more in tune to a persons "signals" and communication, so often she is right.
I think alot of people in our industry, myself definitely included, need to educate ourselves on effective communication, and being able to read communication "styles".
Randy, it seems like you have your communication skills well honed, based on this exchange!
I just let go of a buyer who was beginning to grate on my last nerve. He knows the market better, wants a deal, prices are too high. Showed him a bank owned home using pricing strategy, it was priced $100k under market and was getting multiple offers well upwards of the listing price. He didn't think it was worth the asking price and wanted to offer low. Just cant help a buyer like that. Better to let the annoying know it alls be somebody else's problem, they will never buy anyway...nothing is good enough for THEM.
Randy - I empathize with you. I had an Open House yesterday and a guy walked in with his calculator. He asked the square footage. I asked, "so I assume you look at the price per square foot to make a determination of value"? He said yes it was a good guide. I said "is the view to you considered in your value of price per square foot"? "Is the lot square footage in the value because I am 4 times what you have been seeing"?
"We'll I believe it adds value". So, if you have a set number in mind do you think it is fair to value this property to the last property you saw? He was stopped in his tracks.
I usually don't do this but I was having a bit of fun because I already determined this was not the house for them.
Did he show up at the other two homes as well?
I wrote this earlier and was not logged in!!!
Some people have just had bad role models in their lives and that is the only way they know to express themselves. I have found that asking them questions is much more powerful then attempting to show them what I know. Questions like, What makes you think that??? Where did you get your experience in that area? How many years have you sold real estate?? How many real estate transactions did you have last year?? When is the last time you did a mortgage?? That usually slows them down quicker!!!
Hi Randy, this is a great post. I would have asked him what he was there for or if he was working with another agent. That's one of my first questions. What a moron, they make our jobs a lot more challenging than it has to be. Good thing you kept on your game face and continued to stay positive, this gesture may just win you some new clients.
Glad to hear stories like that are not restricted to the 48 continental states...
Randy,
Fun post, and experts such as this abound in each profession. They just like to hear themselves talk and look important...Wishing you continued success.
sounds like you handled it the best you could. That's a tough position, but I'm glad to hear you made a stand!
Sounds like he knew a lot about nothing and you knew a lot about real estate!
Isn't it amazing how many people out there can know so much more about our business than we do?
Loved the way you handled this.
Randy,
Some people just talk to hear themselves. We all get them. Sometimes it is best to just agree with them and they have nothing else to come back with.
We're just too polite in this society. I would have loved to have said, "I'm sorry sir. You are an uninvited guest now. You should leave immmediately. You are desturbing the open house." Kick him off the island!!
Randy:
This man was so smart, you really should have hired him to work for you - think of all the money you could make from his wisdom.
You did a terrific job of keeping your cool.
Randy - I seem to have this conversation once a week. I love seeing if I can gently nudge these folks back into reality and begin pointing them down the right path. Surprisingly, most of these folks are scared or nervous about buying a house and this is how it manifested. Just goes to show, never give up or give in...
Somedays are easier than others, I think you handled him very well indeed...
Randy - My gut reaction to this guy was so strong that I almost couldn't finish reading your post. I had a family member who was 'that guy' and made me completely crazy. It sounds like you handled it far better than I might have!
Randy
You handled the situation perfectly. And kept your cool to boot. Maybe you should have said to him - "boy you are so informed", are you in Real Estate? Maybe you should apply for a license. Then he'll realize all he doesn't know. Great job.
My favorite: the uninformed, loud mouth. Yikes!
HA! Too funny!
We have a buyer running around in our area who is EXACTLY like this! He's been doing it for several years now and it's gotten to the point where not only do the agents run the other way, but so do the sellers!
Thanks for the giggle!
Sounds like you handled him very well. Good job of being correct and polite.
I am sure that the other buyer's in attendance at your open house loved overhearing this conversation. You totally deflated him without getting mean. You are a class act indeed! (And I am sure he also watches HGTV all the time so that makes him an expert as well! I used to love watching Quincy but that did not make me a coroner!)
Are you sure it wasn't my mother in law dressed up as a man and came to your open house? LOL!!
You are absolutely correct. There are many misinformed real estate experts. I did enjoy your post and it gave me a lil chuckle with the picture in my head of my mother in law dressed up as a man!
this is why you need to keep a can of pepper spray next to the sign in book...
Arrogance is SOOO ugly.
What an arse. Well it just goes with the territory.
LOL...way to go knowing your market. Many agents would have been thrown a cruveball and not known how to handle him. What a know-it-all (in his mind).
ROTFL@Vince. Good one!
Yikes, don't you wonder where these guys come from? Did you check the rocks out front & see if he crawled back under the bushes?
I just came back after reading Vince's comment - that would 'spice' up that boring open house. ILMAO
Hoping this excellent blog you wrote helped get this guy out form under your skin. Thank goodness he's not your client.
everybody is an expert, and knows much more about our business than we do, off course.
This is where we say NEXT, as in next buyer please, we would ask the person to find a different house, and agent, ther is not enough time in the world to wanting to work with people like that.
Randy: He has what we call a case of "verbal diarrhea".
Lol, good post with some pretty funny responses. I am still laughing over someone who said "just be glad your not thier spouse"
Sounds like a good example of someone who knows just enough to be dangerous. Hope the rest of the open house went well.
Randy - You're so professional.....you didn't kill him?!! Patience is a virtue, but I don't have that kind of patience. It's frustrating to have to defend our knowledge of our markets to other than don't have a clue.
In New York we would call this, um, gentleman a "jerk."
Thanks for the story Randy. Reminds me of a gentleman I showed a home to that claimed he was certified to be a home inspector but decided not to pursue it. Worse yet, he was the father of the home buyer....
Ha! What a fun conversation to have had in front of open house visitors.
Chalk it up to know it all attitude. He won't do well in this business.
Randy - I know a way to avoid those interactions - don't do open houses! :-) But seriously - sounds like you guided him gently but firmly off the end of the pier!
Randy, I consider an open house my office for the day, and I never let people pollute my customers, especially in my office. I have actually had to ask people to leave an open house because of similar twit-like behavior. You try to be nice, but sometimes, they just need to go.
I would have just asked him to leave because he was clearly not interested in the home and others need your attention.
I think this is the "guy at work" that's been "advising" my buyer!
You really need to appreciate people like that. That is free entertainment and would put a great big smile in my face.
Aloha Everyone - Too many comments to respond to individually. I read all of them and genuinely appreciate the kind words and the wonderful wisdom shared by everyone.
It does seem like everyone is an expert these days. The most dangerous are family, friends and neighbors of your clients; who are misinformed experts.
The funniest thing that came about was at one of my other two open houses Sunday. The agent who was sitting for me, there had an almost identical experience. After comparing experiences we determined that he had a different misinformed expert. Two in one day, in the same town.
You should have used a word/phrase that didnt mean anything and see if he had something to say about it. Then point out that you made the word up just to see if he knew more about it than you. I do that all the time with people like him it normally gets them to walk away/turn red and quiet down/all of the above :)
Loved the post. I thought that I was just fly-paper for "real estate professors"....
After 27 years in the business I'm always surprised by just how little I know when compared to the average lay-expert - and how many simply refute the facts if they don't agree...
You handled it well!
You handled that very well, Randy. I'm glad you didn't let him get away with it!
He came to your open house because everyone elase in his life has been educated to the point of complete dismissal. They have adapted so well, they don't hear a word he says. I hope he never has to announce to his family that the house is on fire.
WOW, this guy gets around! I swear I spoke to him just yesterday in INDIANA! :)
Yes we all have these "experts" running around. I ususally steer clear, however sometimes get caught in a corner. I just try to remember, these people make everthing about them and it is rarely. In front of other customers is the worst! Sounds like it was difficult but you got through it. They key is KNOWING the numbers you can fight ignorance with FACTS. Facts always win!
I like Richards #8 suggestion. Ask him what he does for a living and teach him his job. I don't like know it alls like that.
Holy Canoli! I thought I ran in to all the goofballs. I've been fighting the "banks are going to dump a bunch of inventory in the market" and the "the market is going to crash again" chicken littles. I always say "The technicals aren't there". Because they don't really know what they're talking about they have no idea what I'm talking about. But I think your guy takes the cake.
I have found with people like that... all you say is "that's nice" and nod, then move on to the next one. I have found it is not worth my breath. ;)
I have a relative who's like that. It's never really enjoyable, and I just smile and not my head.
I think you handled it well though. Very professional.
Is it just real estate that almost everyone thinks they know more about your business then you do?
I've had similar experiences too, from just about every buyer I've ever worked with. They learned it all on the Internet.
Hi Randy,
A+ for handling him professionally and with your knowledge. We all have ran across these types in our industry. Let us hope that we all can handle him as strong but professionally as you.
Funny. Everybody thinks they know real estate.
Without those "I know more about what you do then you" people, how would we ever get out job done. LOL
The only thing the guy was an expert at was time tracel. I think this is the same guy who showed up at my Open House last weekend! (maybe 5' 9", dark hair, colored socks and sandals?--although they do come in all sizes, shapes and colors...)
They don't know what they don't know...
I didn't get the part aboutthe escrow officer being a marketing expert, however. That is a gem.
Thanks for making my morning!
We've always felt that getting an appraisal upfront would be extremely useful even if the lender can't use it. It helps the buyer know exactly what they're paying for, and most of the time, so-called real estate agents don't do their research well enough and overprice the home.
Nice job with the misinformd expert...wonder what he does for a living???
I actually would have stopped with the first question.
"You are absolutely right, I don't know what a house is worth"...
We don't...it's like art work, with one audience at Christie's a Picasso may bring 2M, with another audience in another auction, the same Picasso will bring another price. We do our best to evaluate the market conditions, the appeal of the property and present a range of ideas to market that property. The property is worth what the market eventually brings.
If we knew what properties were 'worth' the banks wouldn't hire the appraisers to get the final opinion.
Maybe you were on Candid Camera...? And they just forgot to let you off the hook??:)
Just when I think that I'd love for anyone at all to visit my open house.....you prove me wrong. You handled the situation like the professional I'm sure you are.
Oh- these guys/gals always manage to show up and spew their rubbish when there is a crowd. Frustrating!
Sometimes you have to put people in their place, Well done!!!
I just love it when the buyer brings a know it all family member to the home after they just got it under contract. "This needs this, and that's all wrong, this house is garbage...They need to lower the sales price"
Great Post-- Hopefully the misinformed will read your blog. Maybe he just got his lisc. :)
There are so many like him out there. It's quite interesting how everyone thinks they know everything about real estate. Why do they bother to ask us, I wonder? LOL!
OMG, our job is tough enough without folks like him causing more and more work. Thank you for sharing. COMPS are all we have to work off from.
Wow.....I think you did a agreat job of coming back with a response to each one of his
comments. You held your cool, and you were able to reasonably show him that he did not
know it all. I am impressed! Great job! You showed him that YOU are the Expert, not him!
I wonder if he was just out there or he had a nother motive! If he really liked the house then he can come back with his agent and write the offer. He already misinformed and ran them off and he cleared the way for a acepted offer. That or he is my uncle Joe LOL
Well done, and so much fun to read through the comment stream that you have going on here .....
I love the "know it alls." It seems I run into one about once a week. They think they know the market (from our reliable newspapers) and like to challenge me. They have no idea what we do in our jobs. I had one gentleman buyer who wanted to buy my condominium listing for $70K below what it was worth. He sent me statistics of San Diego county homes that sold in the last six months and then asked me what price I thought I should sell it at. There was a perfect comp right next door to my condo that supported my price (that doesn't usually happen). I read his email and laughed and then redirected him back to the comps. My seller said no way on his price. He has since walked away.
Thank you for sharing. I get those all the time. They don't seem to have any shame. I think they visit to deter any buyers from buying with you. It normally doesn't work. You handled it perfectly. You knew your stuff :)
You should be thankful he stopped by.
He gave you a chance to showcase your real estate knowledge in full view of the other prospective buyers. They were probably impressed!
Maybe you should have requested his phone number and invited him to your next open house?
Don't worry about that guy, he does not do any business anyway.
If he does then I feel for his clients....
it is SCARY that clown is out there. I do short sales (hve for about 5 years) and still get into "heated debates" with agents that will argue non-stop about something they heard or read on the itnerenet, that, when put into PRACTICE is completely wrong.
End of the day:
Ignorance can be corrected, BUT, you just can't fix stupid.....
Ben Benita, Speaker, Radio Guest
Author -- "Are You More Likely To See Bigfoot Or A Short Sale Approval Letter?"
BBenita@Comcast.net
Like the other comments from other agents
Randy,
Sadly the fact that so many of us are encountering these types of "experts" shows just how important it is for buyers and sellers to use a knowledgable REALTOR. In a way he is a walking billboard for our value.
I'm surprised nobody picked up on this...he gave you a great excuse to show your market expertise, AND quote the fact that your marketplace has less than 3 months worth of inventory. GREAT JOB!!
Congratulations on being in a market that has found a balanced inventory.
One of the reasons another agent and I do open houses together is to avoid this situation - at least until the third visitor arrives. While one of us deals with the "lay expert" the other shows the features of the back bedroom and pool area.
Sounds like he needs a discount broker since he has all the answers anyway!
Great job handling that one! If this guy would've gone to closing, you would have had a nightmare on your hands with maintaining the relationship.
Way to go!
Hey Randy,
Great post. I am starting a new group to share these moments with all of our fellow Agents called the Open House Stories and would love for you and anyone else to post these great stories on there. I think we all can learn valuable lessons from one another on how to deal with Buyers. Especially Buyers who know everything!
Keep up the level headed responses, and I hope to see you in the water sometime.
You have less than a 6 month inventory. Nice.
I'm just guessing, but I'm assuming Mr. Misinformed spoke in a loud and/or booming voice, with a great tone of authority. Not that he knew what he was talking about it, but that makes him supremely qualified to be a radio or TV pundit. If you sound sure of yourself, you might convince a few people just by the certainty of point of view, even if you're dead wrong.
I like the use of "friends" in the business, like escrow agents who require appraisals even if the lender hasn't asked for one. Birds of a feather, I guess.
Hello Randy,
It never ceases to amaze who is an expert these days. It is why the rest of us have to work so hard to make sure that we do what is right and stay up with our local market.
Have a great week,
Lisa aka @allstarmom3
Randy,
When you are dumb and think you are smart, your in trouble! I wonder how susessful he is? Probably not too many refferals from his clients.
Know-it-alls unfortunately spread their misinformation like weeds. People like that are wonderful if you need to get your blood pressure up. Great answers Randy, I usually think of witty comebacks at about 3 the next morning!
More wonderful comments.
The upfront appraisal may be helpful for the seller, but not much. If it is a condo or a track home, we know to the penny what they are selling for. If it is a custom home, three different appraisers will bring three different numbers. The only one that we will have to deal with is the one that the buyer uses to get their loan, the others will not be of much use to us. With my years of experience, I can help set the price, just as accurately as any appraiser.
My comment to the misinformed expert was, that I knew exactly what the home is worth. That is true of every property I list. It is worth exactly what a buyer is willing to pay.
My response to people like this one? "Thank you for sharing"...and, then...."Next....." There isn't any way to change their minds. To respond to them is to become engaged with them. To become engaged with them is to loose the battle as well as the war.
Many of these jerks sell programs in real estate wealth on the internet or late night TV. They often give advise to my clients when I am not around. Sometimes they are uncles, aunts, 3rd cousins, or the third cousins hair dresser.
I think not only is this guy misinformed, he also does not have professional courtesy.
You should NEVER go into somebody else's open house, whether it's broker open or public open, to criticize another's property or their strategy. They have NO idea what's going on. For the buyer who might walk in and have no idea, this is just another poor behavior on top of not knowing anything but I guess it's all the same!
The comment that he needs a discount broker, may be a little off. I believe that this is the kind of person, who will be a FSBO and will not be successful. That is assuming he is even a home owner.
Under normal conditions, I would agree with not engaging with him. Unfortunately I had other buyers in the home and he would have poisoned them. He may have also stayed longer.
Nice job. My favorite line with guys like him is "That's an interesting point of view!"
I like your post...sometimes we get these a lot..but these people are pretty much the same way with other professions as well..like they know the law better than lawyers etc. I think they have confidence issues and they don't have much respect for people in general.
I refer to visitors like you described as tourists because they have fragmented knowledge about the area until a tour guide gives them the real information. How many times have you heard tourists relate about places in Hawaii or it's history that was untrue? Misinformed, misguided and, well I'll end here. A Hui Hou.
You handled the "expert" well. It's a fine line between being rude, while still deflecting, such a person.
Congratulations on not blowing your cool It is bad enough when they confront you, but when they start going after the other visitors it makes me crazy.
Bravo Randy! I'm glad you held your stance. I hate it when I get those in my open house!
You've gotta love people who let neither facts nor logic interfere with their opinion! I'd like to know what some of the words are that Joe (#95) makes up...LOL
Great job on handling that Mr. Dont Know it All.
Sonya R Nevins (Star Realty, LLC) Waterbury, CT
Wow, blind leading the blind.
Like a few others have mentioned, the most interesting point in your post is what a short inventory you have.
Great.
Interesting and yes, you need to make sure that others visiting your open house are getting the correct information. The sad part is there's no way of knowing if they understood the conversation and if they did, knowing who was correct.
Curious as to how you might test this after Mr Know It All leaves, i.e. all I can think of is asking if your other guests have any questions about the area, the current market, real estate, etc? Not in real estate but read lots as I own a handyman business and learn so much from all of you.
What is the saying, "never agrue with an idiot, he will drag you down to his level and beat you with experience."
I'm glad he left before it got to that point! :-)
WOW - you handled that situation extremely well.
it's easy to get frazzled by someone like this, especially when they are saying things in front of other potential customers.
It sounds like you did a great job of remaining composed and acting professionally.
If Candid Camera were still around I would expect someone to pop out and surprise you at the end of that ridiculous exchange. I've seen outsiders who think they know it all but this one takes the cake. I am so in awe as to how you kept your cool! Way to go and smile anyway - even if you're not on Candid Camera! ;-)
My wife and I do quite a few open houses and have had a fair amount of success but there are some days that have been like a freak show. I'm sorry we treat everyone with respect but sometimes you just don't know where they come from. The comments and the attitude will tell you they are not serious buyers. I not sure if this is their defense mechinism.
Randy-Great Job! Always Control the Situation; Bottom Line - did you ask him if he was a Qualified Buyer??? Just kidding I know you will have better days!
There's always at least one of these guys, isn't there!? Although sort of a different situation, this one time comes to mind: I, who have always looked young for my age, had a guy ask me with a snicker, "So, do you own any real estate yourself yet?" It was fun to tell him that I had a house, a condo rental, and was in escrow on a third property. Shut him up real quick.
When dealing with "EXPERTS", I have always tried to live by the following adage:
"He who knows NOT, and knows not that he knows NOT, is a FOOL. SHUN HIM.....
He who knows NOT, and knows that he knows NOT, is TEACHABLE. TEACH HIM.......
He who knows, and knows NOT that he knows, is ASLEEP. WAKE HIM.......
He who knows, and knows that he knows, is WISE. FOLLOW HIM........"
This may help you deal with the so-called experts who "know NOT that they know not."
From Gary Lits, Broker Gary Lits Realty.
That's when you end the conversation with, "feels free to take a look at the home and if it's something you'd like to pursue just let me know". "I'll be in the other room". Then you go help the other people that need help.
Those guys get all their information down at the barber shop. I'm glad he taught you a few things!
An example of those with only general knowledge, thinking that they really know this business.
Obviously Mr. Know It All's business isn't too busy if he's harassing you at your open house. It's my guess that he is just as obnoxious to his clients as he was to you, and he probably runs them all off.
you did a great job on handling a kind of annoying situation most of these guys watch too many talking heads and get too smart ;-) <a href=http://geneperez.net>Santa Maria Homes For Sale</a>
SO, YOU WERE THE GUY WHO ARGUED, AT AN OPEN HOUSE, WITH THE OWNER OF ZILLOW.... :)
Two thoughts come to mind about this guy:
1. If it weren't for being low class he'd have no class at all.
2. A little bit of knowledge is dangerous
Someone taught him a few vocabulary words but he doesn't know what they truly mean.
Good post and great response on your part!
Loved your gentle, yet factually direct style -- I am learning I have to be professionally, factually prepared -- leaving the emotions at home before dealing with real estate consumers. Great post.
Thanks for the post.
I try to look at these people as part of the nature of the business. During an open house it is literally that. Open to all types of people. An old saying I believe is "a empty wagon makes the most noise". I get a person like this at 8 of 10 open houses. I have leaned to laugh and enjoy it. One case in particular was amusing. I had a elderly woman ( I'm over 50) come into a one of my open houses. This house had hard would floors. She went into the dining room and pulled our a marble and rolled it across the floor. She was convinced the foundation of the house was crooked. I tried to tell her there would be a professional home inspection performed by a certified inspector. But she was convinced her marble does not lie.
It took me years to become selective on the clients that i "choose" to work with! I just fired a buyer when it beccame apparent that he considered me as a salesman. He felt he knew more then me about the local market and questioned my motives. You should of seen his face when I told him that I will not be working with him any longer!
Thanks for sharing. I've had this happen at an open but thankfully other people were not standing around. I have a problem with sellers trying to tell me how to sell their home just because they have a marketing/training background. I feel there is a huge difference in selling food and selling real estate but this one know it all knows that its all the same. Price is just a number. Not in my community.
Just a question? Was this guy short, fat, balding with a comb over, a pronounced overbite and coke bottle lens glasses?
His twin brother was seen in Tucson, armed with all the same data.
This guy must have a really large extended family.
Thanks for the good post.
This would have made me laugh louder if it weren't so true...the last time this happened to me, I asked the person to leave.
My comment to them was "It's an Open House, not an Open Season".
The buyers who witnessed the verbal attacks were SO happy to have the negativity gone that they stayed and became my buyers for a different house!
Thanks for sharing your experience; you were very polite and well informed and a credit to the real estate profession.
Randy, Way to keep your cool and educate this misinformed consumer.
Hi Randy, I guess we all get these " experts " from time to time. You handled it much better than most !
I once experienced something similar and later I found out it was an ex-neighbour who had a dislike for my seller!
Go figure
Ty
Aloha Randy,
Mindsets can be difficult to work with, especially when wishful thinking based on misinformation sets in. Sounds like you handled it well.
Peace,
Since when does the VA only lend on the land value? You have to Love experts, especially the ones that only like to hear themselves talk!
Randy:
it's been my experience that genuine "experts" are the ones who are always asking questions rather than trying to impress others with how much they know. Thanks for sharing.
Regards,
Scott Perry
Just remember, you can't fix stupid! My life became so much simpler when I realized you don't need to rationalize with irrational people. Unfortunately, we have them here in Boise, Idaho as well.
He'll probably wait out the market too...until he can't afford to get in. LOL
Wow! this struck a nerve. Good thing he doesn't live next door, he would stop every buyer showing to tell them everything he told you.
You handled yourself well. That's one of the first things I learned, a house is only worth what a buyer is willing to pay. Keep that misinformed expert off of the mainland please, lol.
Your answers were perfect! Sooo... did he actually want to buy a house or was he there just to try to INFORM YOU!!!!???
Did you ask him if he had a real estate license?
I thought you were talking about my step-father until I read he was ex-military! :)
Your handled yourself very well. Tough line when other clients are around!
I get small lessons like this every time I tell a stranger that I'm a realtor. I guess it goes with the territory. Although this guy was way worse than mine usually are. You handled it quite well though. I'd have smacked him. LOL
He sounds like the kind of person who would represent himself as his own attorney too! People who won't listen to a a real expert continually trip over their own feet.
You handled the situation beautifully. Good riddance to that guy. He would be a nusance to work with.
You are the epitome of patience and tolerance. How come the less they know, the louder they are?
This is where our potential buyer clients get their misinfo...the unfortunate know-it-alls, aaahhhh...you just want to scream yet instead you smile & refer them to another broker, for a referral fee of course.
In the end you both make out in spite of this person. Or, at least I do! zz
Jack of all trades and master of none...Just ridiculous how we are surrounded by "experts" in our industry. It reminds me of a post a while back of the blogger's sister-in-law saying..."Well, you became a Realtor, so how hard can it be?" I think you've done well in not getting riled up. Some people are just clueless how much they resemble the back end of a donkey.
Just remember the wisdom of Solomon:
"Every prudent man acts with knowledge, but a fool lays open his folly." ~Proverbs 13:6
"Do not speak in the hearing of a fool, for he will despise the wisdom of your words." ~Proverbs 23:9
It is even worst with it is the nightly news misinforming the nation. Like the one where the Real Estate agent was interview and said the bank are only doing 20% down loans. I called and email CBS to reminding them of the FHA, VA, USDA loans that have been around for over 50 years. Sometime people jsut want to hear them selve talk.
I think the reason this post was featured was more for the responses than the original post. You folks are the informed experts. I am truly enjoying reading the comments.
Mahalo (Thank you in Hawaiian) to everyone who has contributed to this post.
Doubt this Mr Know-It-All was in the market tp purchase a home. Bet he was the "I'm a Expert on Everything Fairy" doing you the extreme favor of visiting your listing and sharing his insight and wisdom. At lease he should have left a little something under the doorstep or pillow or whatever. Those people are annoying and hilarious all at the same time!
Randy,
Good job! Maybe now he will realize you are the expert, and spread the truth instead of misinformation. Hey, one can hope!
Anna
We know one thing for sure. He did not recently buy a home. He had not idea what the market was like or how the process worked.
I'm with Kathy - can you imagine how horrible it would be to be married to someone like him? Or if he was your Dad, or your son, or your brother-in-law?
Ugh.
LOL! What a character! Or an irritant. Some people know everything Randy and you were obviously in the presence of greatness. Thanks for sharing!
Being response 205, which is really incredible by the way, I am sure you are tired of reading but here is my 2 cents.
Your "expert" visitor really paints a pretty accurate picture of how many consumers are misinformed. The comment about th ebuyers market is a common misconception today.
Fantastic post. Congrats on the 205 responses so far!
Steph Somers
It is amazing what others perceive on late night tv..... you did a good job,
Some good points, can you imagine the holidays if he was a relative. Worse to be married to someone like that.
His statement about the buyer's market is true in many places, just not where he was standing. A good reason to hire professionals.
Way to handle the situation! These people never cease to amaze me. I love when the "expert" debates me based on his research on Zillow or sites of that sort. My favorite is, "I thought of getting my real estate license too." I respond with, "I thought of becoming a doctor at one point too. That doesn't mean I enter a hospital and try and diagnose a patient."
You're absolutely right! These SOB's should put under the bus for their intelligence. Good one.
Randy,
Kudos for conducting your self in a very professional way.
I'm with #33 John Marshall's late father in law. Actually that was very funny. Lol
No matter how much knowledge we have on a subject matter we should always have our student cap on. We never know where the next eye opening experience will come from. However, when we realize, we're dealing with a "know it all" then it's time to bounce and in this particular case, time for the "know it all" to bounce.
Maybe he didn't realize he was in the United States and was disoriented. He needs to go back where he came from.
Just read the paper and watch the news and you to can be a expert. HAHA
Randy, you handled it wonderfully! I used to sell new-homes for a builder here in Atlanta. When we got this kind of"expert", we had blanket permission to ask him/her to leave, which was so empowering! The otehr visitors usually applauded us. Of course, that was in a Sellers' market and we are no longer in that kind of market here. your approach was fantastic!
What a jerk! I think you handled him with professionalism and respect! Much more than HE did! Good job!
GOTTA LOVE OUR FELLOW AGENTS WHO BELIEVE THAT THEY ARE KNOW IT ALLS AS WELL...THE PART-TIMERS ARE THE BEST! WORD TO THE WISE: ALWAYS LISTEN WITH OPEN EARS...FOR YOU NEVER KNOW WHO MAY TEACH YOU YOUR NEXT LESSON.
WHAT TO DO IN THE EVENT THAT THIS EVER HAPPENS AGAIN: ASK THE ATTENDEE IF THAT'S THEIR CAR THAT'S GETTING TOWED DOWN THE STREET. FOLLOW THAT UP PROMPTLY WITH: "THAT'S EXCELLENT" AND "I'M HERE TODAY SIR FOR BUYER'S QUESTIONS, NOT ANSWERS" THEN "MIGHT YOU BE INTERESTED IN PAYING FULL ASKING FOR THIS HOME?"
Randy Good for you! I came across one last year & I did ask where he got his info: Zillow.com. After asked him if he knew that Zillow based their values on the median sales price taken from tax records (unless the property was posted by a RE agent who updated the info) he walked away LOL.
I will have to remember "Is that your car being towed?" Maybe fionding a good distraction would be useful in some of these cases.
Randy,
There's a schmuck at every open house!!! You handled him well though.
Randy, I've found most people can see when someone is just plain challenging. It sounds like you handled the situation very well. I would guess the observers were in a position to choose sides (if only in their minds) and it may have made them more open to speaking with you.
Did anyone comment on the "gentlemans" rnatings? I hope your open house ended in success.
you were very professional.
Nicely done Randy,
I've had those outspoken 'know it all's' come wearing a real estate agent badge.
Sometimes, without saying a word, you simply open the door and wave them out.
What makes these folks so hard to manage is that they usually really feel that they are helping you by providing info that you need. It's like there is a connection missing in their brain, that is, the one that provides feedback about how others around them are reacting to what they are doing or saying.
These experts can be found on various forums throughout the net. Mostly they are doom and gloomers quoting every negative article they can find.
Just start pointing to your watch, and saying loudly "Look at the time!"
I had someone call yesterday on one of my new listings; he was the kind that just kept asking questions and then answering them himself or commenting on his questions before I could even answer...
"How much is that house at....{address}...and it looks really old...but then if the seller isn't asking too much but then would he consider renting it"...so I would try to answer price/bedrooms and then he would interrupt saying "what...did you say 195? is that how much homes go for around here, you know I'm from {another state} and why are homes so much around here and can i rent it?" I would answer "No, he wants to sell it"...."Oh so if he can't sell it will he rent it? is it going to be on open house..." and i'm thinking geez I hope you aren't like Randy's open house client...LOL
"Look at the time!"
Wow, I need you riding around on my shoulder right now - I seem to have alot of know it all's that I'm working with... I always come up with those answers - but you certainly seem more quick witted than I!!! Thanks for sharing!
Randy, here’s the scary thoughts: He may actually have a valid real estate license and some poor citizen may believe him and even worse, he might vote and he may be contributing to the gene pool.
Randy,
I normally just "bite my tongue" and try to get rid of them.
Gary
They kind of sound like my kids whom now they are pushing 40 know everything!
Ammusing story! I may have to use the "misinformed expert" in some of my teachings.
Randy, how annoying! You were persistent and kept bouncing that ball back in his court! Sounds like he may have been an agent, which would make it all the more unethical. I can't believe even in the most 'relaxed' of states this type of behavior is going on!
Good responses! I would have also asked him if he is ready to make an offer on the home based on his knowledge and about how soon he could be qualified. And do the "Let's see what we can do for you, since there are others here who might also be interested." He would either move forward or head for the hills. Or the next open house to become someone else's problem.
Randy, Well-played! Potential buyers don't need these types spreading misinformation, neither do we.
Randy.. If I were with you now I would pat you on the back, stating "JOB WELL DONE". You held your ground and gave him the correct information. Along with informing the other prospective buyers in the background.
Randy: You actually had me laughing by the end. I'm so glad I haven't run into an expert like this at one of my open houses, not sure how I'd respond. You're answers were great and the story priceless. Carrie
I have had a few real estate agents act similar to this guy as a few others have mentioned. You have to wonder how they ever close a sale. Maybe they don't.
I had one so bad a couple of years ago, that I asked if they were an attorney. (true story)
Good job! Those situations are tough and you handled it extremely well!
I like Kathey Kenney's and Richard Weisser's response..
Randy,
Way to speak up! It's ashame when we have to train other agents, Even worse when we have to retrain them. Opinions are one thing buy statements like that are crazy! Great job!
Sherri
That's funny !!! I think "Mr Know It All" called me yesterday. I know a lot of these people and unfortunately some are realtors.
It is scary to think that someone with a license is like this. I have met a few, mostly part timers.
So you just stood there, watched the trainer leave, and then you shrugged your shoulders and asked yourself, "Was it something I said?"
Kritina - I was just glad the trainer left the building. The only positive part of it was that the time he spent with me, I gave another agent a break.
Randy, you handled the situation well. I enjoyed reading the comments. Some of them are priceless!
Janet - Thank you!
I had a similar experience with a young girl at a showing. She was the fiance of the owner's brother and she was such a know it all, it really made me sick. I finally looked at her and told her not to try to do my job for me. She saiD that her father is a builder and a couple of her aunts are REALTORS®. I guess that makes her an expert in all things pertaining to the sale of this property. She was in actuality turning off any prospective buyer!
Love the know it alls. I especially love the buyers who researched properties on the "internet" and seem to know the value of other properties. Of course they miss things like deed restrictions, partial ownership, distressed sales, and location. If it were that easy, we wouldn't have to work so hard to be experts.
Sybill - It can be difficult especially if it is a spouse or fiance'. Whether they are all wet or not your client will have to listen to them to some degree.
Amy - I have some that also overlook financing. They like properties that will not pass FHA.
Plenty of know-it-alls to go around, isn't there.
Kind of feels nice when the opportunity arises to put them in their place! Though usually, I try to do it somewhat nicely. Not always though. Sometimes you just gotta slam em down.
-
Erby - I always try nice first.