For the past several months, I have been helping a client identify short sales or foreclosures for potential purchase. The last Friday, he emailed to tell me that he and his wife found a regular sale on which they were going to write an offer but did not want buyer representation because as he put it "I know the market, I know the pricing and I've bought homes in the past". He told me that he was going to let the listing agent write up the offer for him, would ask the seller for a subsidy and that his intent was that the seller would then take that amount out of the listing agent's commission so that the listing agent wouldn't get both sides. He seemed pretty proud of his scheme. I was shocked and I gently told him that that is not how it works. He challenged me and asked me what value I can bring. Great! Time for me to earn my keep. I walked him through a transaction and showed him all the value...he thanked me for that review and said he would continue moving forward as planned. Argh.
Then yesterday, he sent me a note to tell me he wrote an offer on that property on Monday night. I replied back sharing with him that I still did not understand how and why he would wish to go through a transaction without representation and reminded him that the listing agent represents the seller NOT him. Again, I outlined my thoughts to him and showed him the value that I would bring to the table. He responded back very quickly to me and said the following, "After going through this, I agree" My client is a very adept business man and like everyone, he was just looking for a deal. Even if his offer is accepted, that was victory for me and for our industry where oftentimes, our value is overlooked and underappreciated.