Customers You Should Avoid

[Don Konipol]

Based on 45 years in real estate, I’ve experienced these types and I believe they are the biggest time suckers to be avoided as quickly as possible 

Types of Customers to Avoid

1. The customer who places no monetary value on your time. They’ll ask you for an endless number of quotes. They’ll ask you to review a never ending merry go round of deals they’re “considering”. They’ll ask you for referrals to your best vendors. What they won’t do is agree to pay you for your work. And when they finally do a deal they’ll leave you for the lowest cost option.

2. The customer who will never do a deal. They’ll look at properties all day long. They’ll do in-depth analysis with pro forma statements projected out 20 years. They may even engage in intense, detailed negotiations. What the WON’T do however is complete a. transaction.

3. The customer who is never satisfied. This one is controversial because they will do a deal, and you may collect a fee. However, at some point you’ll come to know that when considering the time, aggravation, and damage to your reputation, it just wasn’t worth it.  You’ll know this type because they’ll call you at 7 AM to discuss an irrelevant matter. They’ll demand answers to ridiculous irrelevant questions like what’s the viscosity of the
heating oil in the tank. They’ll probe the motivation of the opposing side and NEVER belief any answer. Engage with at your risk

4. The customer who lacks authority to make the ultimate decision. Their parents need to approve the purchase. Their “silent” money partner needs to be convinced. Their wife’s trust fund is the “real” buyer.

5. The customer with “legal issues”. They’re being sued. They’re under investigation for fraud. They’re involved with money laundering. And they want to drag you into their troubled world.

[Bruce Lynn]

I think the trick is knowing how to determine those up front.  Every now and then, I'll figure it out up front, but sometimes you're in the weeds before it all comes up.