Fire A Client? Why Would An Agent Fire A Home Buyer??
It's rare, thank Goodness!! However, if an agent finds themselves experiencing discomfort with a prospective home buyer, a few questions have to be asked.
I've divorced a few home buyers over the years.
1. Fair Housing Awareness. The prospective home buyer was quite vocal about the neighborhoods he would consider. Sadly, his preferences were all race based. This was a relocation referral and I just gave him back to my broker.
2. Market Value Research. Prospective home buyer insisted on writing multiple offers for about 75% of market value. Not going to happen in the area of his search where the SOLDs were about 98% of list prices.
3. Seeing Is Believing. Investment buyer who wanted to write sight-unseen on multiple listings.
4. Credit Approval. Residential home buyer to insisted on making offers before being credit approved. I don't mind showing homes to prospective buyers to help them learn the market, but making written offers means they must be at least credit approved.
The fact that many home buyers don't understand is that writing and presenting an offer to buy real estate in Maryland and Virginia is a very time consuming process. Multiple forms are required and, if not completed in full could present significant risks to the agent. No thanks.
When a home buyer is ready, willing and able to tour properties in their qualified price range, I'm ready. However, making offers to buy moves the transaction to a higher level and requires a genuine showing of commitment on the part of the home buyer.
This post inspired by Patricia Kennedy in her post today about firing a seller.
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