There is a wide gulf between Buyer's and Seller's that prevents many opportunities for a transaction. Much of that gulf is because of nonsense stirred up by brokers who have no real experience, and insist on superimposing control over the communication flow. If you're an intermediary, make the connection and then get the hell out of the way and let them talk. If you are so paranoid about being cut out of the deal, congratulations; you just created a self-fulfilling prophecy!
I am convinced that the reason for the transactions that end up with someone circumventing is because a broker interfered with the absolute clear communication channel between the two Principals. CAGTHOOFW!! (Connect And Get The Hell Out Of The Way)
How To NEVER Get A Seller To Respond
In the automotive industry, salespeople are taught to recognize 'tire kickers'-- those people who will ask questions but really have no intention of buying anything. Usually, once it becomes evident that they have a 'tire kicker' on their hands, they move away and pay no further attention.
What is astounding is how many Buyer's for paper fall into the 'tire kicker' category by their actions. Here are a couple of reasons why a seller will ignore and not even dignify a 'tire kicker' with a response:
1. The Buyer (or his "representative") will ask a question about a particular procedure that he would like. On the surface, you might say, 'that's a reasonable question-- why can't I get an answer before I might send in my documents?"
Put yourself in the Seller's shoes for a minute. In the course of his day, the Seller is bombarded with the same questions dozens of times. The Seller doesn't have any interest in answering questions.
In fact, many of the Providers and Sellers have given us Standing Orders:
DO NOT BRING A QUESTION TO ME UNLESS IT IS ACCOMPANIED BY THE BUYERS COMPLIANCE DOCUMENTS AND LETTER OF REQUEST.
It is a matter of courtesy and respect. Something that is sorely missing in the high-faluting world of high finance-- at least those in the intermediary pool, and yes, some Buyers and even Sellers.
If you are a serious Buyer and you want to set yourself apart from the 'tire kickers' out there, submit your Letter of Request, Client Information Sheet and your Passport, and THEN ask your questions. You'll be given the courtesy of a response because you have shown your intentions, and not to waste time.
2. A Buyer insists on speaking to the Seller before he will even submit anything. For the same reason above, the Seller isn't sitting around waiting for the Buyer to want to chat. How can a Seller know if he is wasting his time unless he has the Buyer's papers in hand and can respond intelligently?
Again, this is a sure sign of a 'tire kicker'. And, again, as direct representatives to the Seller, we are given our orders.
There is a legal principle here that each individual party in a transaction must remember:
If It Isn't In Writing, It Doesn't Exist.
By Michael Weiner
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