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What you should get when you hire an agent ?

By
Real Estate Broker/Owner with Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 GREC# 169695

Recently I was in the middle of two deals.  One was a the listing agent and one as the selling agent.  Oddly enough I was preparing comps to show both my buyers what to offer and I even consulted a local appraiser who was very familiar with the neighborhood and I took through the house with my eyes so that he could have a good idea of what was there.  As things progressed with both these deals it became very clear to me that the other agents involved were not in the drivers seat, in fact they didn't even seem to be back seat drivers.

In deal one: the listing agent said to me "they don't have to sell".  Well duh, I'm pretty sure no one HAS to sell.  You can keep the house as long as you want, but of course our cash offer contains an appraisal contingency, so we're not going to pay more than it appraises for, it's just NOT going to happen.  Your house isn't perfect and doesn't have the amenities that some other houses have that are on the market for less.  Yes, my buyers like your neighborhood, but perhaps one of your neighbors will sell to us for less.

In deal two: my seller has done EVERYTHING I told them needed to be done in order to get the most for their home and have it look better than others on the market in the same price range.  Again, we have the comps and my seller negotiated with the guidance of comps in hand.  They are not asking for their "have to have" price, they are asking for a price the comps justify.

When you hire an agent you really should listen to their advice.  We don't pull suggested prices out of thin air.  (Well most of us don't).  I work very hard to keep up with the market.  I spend time every single day looking at what is selling and the prices and what is going under contract and the prices.  If your agent isn't showing you what like comps have sold and helping to guide you in either where to price your home or what sort of offer to make based on other like homes that have sold in the past 6 months then perhaps you need to rethink that relationship. 

 

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Tammy@Lake-Sinclair.com

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Tammy Lankford, Broker/Owner

 

Broker License # 169695  Lane Realty License # H-11420

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Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert

Its a feeling out process for buyers I think. They come in expecting to get a house for less and then find the market is hot and dont know what to think.  Sellers just need to look at comps and understand WHY they need to be price in a certain price range.

Jun 12, 2012 09:58 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730
Tammy- When you hire an agent you really should listen to their advice. Perfect, perfect, perfect.
Jun 12, 2012 10:09 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Chuck- perhaps buyers with no representation, but "feeling out" is not how to buy property in my opinion.

Debbie- and hire an agent with advice to give.

Jun 12, 2012 10:43 AM
Brenda Mullen
RE/MAX Associates - San Antonio, TX
Your San Antonio TX Real Estate Agent!!

No doubt Tammy.  Listen to your agent's advice, as long as they are giving it to you.  You are right, many of us don't pull stuff out of thin air and hope it works, we look and research the market in order to guide our clients successfully.

Jun 12, 2012 10:47 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Brenda- and that's as it should be. :)

Jun 12, 2012 11:03 AM
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Tammy, 2 things happened to me this week, a buyer who did not pay attention to me or the comps and insisted on making a low offer and on another deal I played "I'll show you my comps and you show me yours" with a seller's agent--  I think the toothfairy left those comps under his pillow when he was asleep!  Good advice Tammy, you're a great agent, I'd listen to you :-]

Jun 12, 2012 12:21 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

so we had nearly the same week huh Mary. LOL  Toothfairy?  I like that.

 

Jun 12, 2012 12:50 PM
Mona Gersky
MoonDancer Realty, Dillsboro,NC - Sylva, NC
GRI,IMSD-Taking the mystery out of real estate.

Hi Tammy, great advice.  I've also gone to the seller's agent and said..."I'm trying but just can't find comps to justify your price, what have you got for comps?"   Nine times out of ten...they don't have comps.

Jun 12, 2012 09:44 PM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Mona- did he look at you like you ahd two heads and tell you his sellers didn't have to sell?  Who takes thoses listings???

 

Jun 12, 2012 10:22 PM
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

What it really comes down to is having an agent who actually believes they have to work in order to earn a commission.

Jun 13, 2012 04:54 AM
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By Real - Alexandria, VA
Alexandria Virginia Homes For Sale

Tammy- I hit the suggest button. I've called listing agents before asking what comps they used to price the house. If I can't find comps (rare) I suggest that my sellers get an appraisal done before listing. Real Estate shouldn't be about guessing.

Jun 13, 2012 05:20 AM
Diane Daley
Caron's Gateway Real Estate - Northumberland, NH

All the buyers seem to be low balling things these days, testing the waters....

Jun 13, 2012 05:28 AM
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

Oh, I just heard a horror story yesterday about this very topic.  I won't go into it.  But you should make sure that the agent you are working with has a pulse and some knowledge, no, a lot of knowledge about the local market.

Jun 13, 2012 11:45 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Liz- there's no crying guessing in real estate.

Amanda- and that's exactly how it should be. and Thanks

Diane- not buyers with buyer's agents leading them to make the right offer to get accepted.

Ron- yes a LOT of knowledge about the local market.

Jun 13, 2012 01:04 PM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Glad that you advised your clients to get the home apprasied even though it's a cash deal.  Many agents don't do that.  And you're right . . . if only they would listen when they engage our services. 

Jun 14, 2012 02:48 PM