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Mr. Buyer, You Need To Listen To Your Agent!

By
Real Estate Agent with Transaction Alliance 513.520.5305 www.LizTour.com SAL.2002007747

ListenMr. Buyer, You Need To Listen To Your Agent!

Mr. Buyer, you made the right decision.  You found a buyer's agent who works FOR YOU!  Only you, not the seller.  Unless you grabbed them walking out of the Ohio real estate exam office, they've been doing this for awhile.  Unless you're some super duper investor type or a Bedouin moving from place to place, chances are strong that buyer's agent you hired has been in FAR more real estate transactions than you will in your entire life.  They've been there, done that, got the T-shirt and the scars to prove the journey.

They listened to you and your needs and matched you up with a home that fits.  A place you can see you living in for quite some time!  In your price range, great neighborhood, nice easy commute to work, everything you wanted and a bit more.  Your agent has proved they know what they're doing!

So WHY at this point of the process do you decide they DON'T know what they're doing?  That your agent doesn't know how to give you the best possible guidance to get you that home with your name on the deed?  That suddenly some reporter in some magazine that's probably rented an apartment their entire life knows more than your agent and that you need to offer 15% less than list price for an already fairly priced home?  That you can treat the sellers like you're some bank and offer foreclosure level pricing to them and they should be happy to get it?  You may want to believe everything you want to know is on the Internet, but it's not.

Your agent is telling you that offer won't fly, and on top of that you start asking for thousands of dollars of closing costs and appliances that aren't offered with the home?

Sellers look at that offer and swear you're medicinally impaired.  Hopefully they'll actually counter and give you a chance to reconsider your offer.  When and if they do counter and their price is REALLY close to list price, they're sending you a message "Get real!".  They're asking "Are you serious or not??". 

If you TRULY want the home, LISTEN to that buyer's agent you hired.  Her advice to you will vary neighborhood to neighborhood, maybe even on the same street!  Every situation is unique and no online calculator is going to be able to successfully tell you what to offer.


She's not speaking with forked tongue.  And if you think she's telling you to offer more so she'll get paid more?  Not even crossing her mind.  Your agent's job is to get you the home you want at the best possible price for you, but she's done her homework and she knows what price it's going to take in this market.  Stop listening to reporters, your buddy at work or anyone else but YOUR HIRED PROFESSIONAL!  None of those other folks have the local and specific knowledge needed to make you a homeowner.

So are your ready to try again?  Our seller would LOVE to sell you their home, but the decision is up to you, not them!  You made the try for the steal, now let's work on making a deal.

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

Posted by

Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of Transaction Alliance
Elizabeth Spear, ABR, Ohio License SAL.2002007747

William (Bill) Spear, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

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Comments(71)

Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I agree with the above comments about buyers having to lose out on a few deals.  Can't blame them for trying, because that is what all the newspaper stories say, and the people at work...  But, get crushed, lose that dream home, get a cold dose of reality, and realize that there are other buyers out there willing to make a fair offer!

Jun 24, 2012 11:36 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Pamela, I think we know them :)

Gary, It's a learning curve.  If we're lucky & have gotten through to them with the education process, they'll listen right off the bat.  But if not, we could be a few offers in before they realize despite all the "bad news" and advice, the buyers don't totally own the market, and even if they do, there ARE other buyers out there too.

Jun 24, 2012 11:39 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Over the weekend I heard of a homebuyer, who made 15 offers on homes, before he managed to get one accepted.  Inventory is much lower than a year ago, while prices have remained the same.  This is causing a competitive environment among buyers, as we transition into a "Seller's" market.  It is very important for homebuyers to listen to counsel from their agents!

Jun 25, 2012 02:11 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Myrl, Even more critical for the buyers when inventory is low and reaction time is about zero.  Better get it right because there may be no 2nd chance to offer.

Jun 25, 2012 02:13 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Wink!  Wink!

Jun 25, 2012 02:57 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Charita, A good reason to work Expired listings :)

Jun 25, 2012 03:01 AM
Bryan Robertson
Los Altos, CA

Fortunately, most of my buyers listen to the advice I give them but every so often one or two will do just as you describe.  It's more frustrating when they think they know more about the market using our own reports and a few anecdotes from the local news.  However, getting them to listen again is part of the job.

Jun 25, 2012 05:00 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Bryan, Definitely part of the process.  If we can't round them back up, then we have to decide if we want to proceed.  Writing 80% offer after 80% offer isn't going to fly for long.

Jun 25, 2012 05:20 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Wonderful points and post!  Heck, the parents can be tough when their adult-children listen to them.  And I can only imagine what prompted this inspirational advice.  It kinda makes you wonder why a buyer (or seller) selected that particular real estate agent's representation . . . if they weren't going to listen to them.

Jun 25, 2012 06:38 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Carla, Just another buyer who wanted to offer on one of our listings by looking at only foreclosure sales prices despite his agent's advice to look at the "normal" sales prices.  He didn't get the home, not even close!

Jun 25, 2012 06:54 AM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

BLiz, if I didn't know better, and believe me I don't, I would think that you wrote this blog about me and the client I've been working with lately!

Jun 25, 2012 07:03 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Eric, They're universal, I think we've all worked with a buyer like that, and certainly had offers on our listings from buyers like that!

Jun 25, 2012 07:06 AM
Cheryl Thomson REALTOR Ret Army
United Real Estate DC Metro Region (703.216.5635) cheryltee47@gmail.com - Prince William, VA
Associate Broker in Northern Virginia

Liz and Bill...I know how your feel.  We as a whole have a lot of work to do to restore the faith and confidence with our consumers. A few bad apples have spoiled it for the rest of us.

Jun 25, 2012 07:08 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Cheryl, We understand every buyer wants to get a deal, but some really need to refine their definition of deal!  Taken too far, they'll be a long time waiting to be home owners.

Jun 25, 2012 07:27 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Bill and Liz, They want the experience and guidance of a good agent but think they can tweak it and make it even better in their favor. So many times they miss out.

Jun 25, 2012 01:08 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Debbie, If only tweaking it would help, but they just need to listen to their hired pro.

Jun 25, 2012 01:28 PM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

It's so frustrating when a consumer thinks they know better than you do.

Jun 25, 2012 01:58 PM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Tammie, Unfortunately it's part of the business.  With Internet information so readily available, people believe they have an expertise, but they don't know the nuances that make the information meaningful.

Jun 25, 2012 09:34 PM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Bliz, so true.

Jun 26, 2012 01:20 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Tammie, Those differences are ultimately where we add value.  They'll figure it out eventually.

Jun 26, 2012 06:23 AM