Was That a Tone of Glee in Your Voice? Best of Luck Unrepresented Buyer

Was That a Tone of Glee in Your Voice?  Best of Luck Unrepresented Buyer

My daily ritual of making those phone calls that need to be made took place today.

Just wondering buyer . . . was that a tone of glee in your voice?

I hope not.  

A done deal is a closed deal.  Your "deal" ain't even close to being done yet.  You may be in for a ride.

The email came in Saturday @4:46PM "Hi Carla, We're looking for a buyers agent,"

Wonderful.  Best first move in the real estate buying process:  Get a BUYERS AGENT.

I don't know anything about their situation other than what was written in the brief email -- which wasn't much.  They gave the price range but I had no idea what that was based on . . . they didn't mention if they are pre-approved.  All the other important information such as: time frames, budgets, down payment, lender  . . . all the necessary insights for me to provide some sort of direction, guideance, help, weren't included.

"Hey let's meet up," I email back.

All I knew from the email is they want to buy a house. 

The invitation was extended for us all to meet.  It's called a business meeting for a reason.  We talk the "business" of buying a home.  When I didn't hear back, I called today to follow-up.  At least that's why they gave me their phone number, right?!?

"Yeah, we went driving around yesterday and something just fell in to our lap, we wrote up an offer . . . "

Was that a tone of glee?  Although disappointed that I wouldn't be assisting them  . . . 

. . . the protective nature started to emerge, but I put a lid on it.

I wanted to ask so many questions and protect these buyers, these novice first timers. 

You snag a house without using a buyer's agent while driving around on Sunday and just happened to find "the house" . . . and made the offer through the listing agent.  That about says it all for me.

They weren't looking for representation.  

They wanted to play Realtor because HGTV makes it seem so easy.

Who needs a Buyer's Agent, right?

Hope you got the killer deal you probably think you got.

Closing costs?

Comps?

Concessions?

Contingencies?

I'm sure that's all being worked out in your favor, through the Listing Agent . . . 

Oh, they didn't bother to tell you that they CAN NOT comp the property for you.  But, go ahead and take their word on fair market value . . . they don't have anyones' best interests but yours at the forefront of their "representation" of you two . . . rolling eyes!

How do you know if the listing agent and seller are asking too much for the property? 

Right . . . exactly . . . you don't!

But wait . . . Oregon real estate agency says that a . . .

Buyer and seller using the same agent are in a "Disclosed LIMITED" agency.  

Limited to . . . what the LISTING AGENT can do for the Buyer!  Why a Buyer would want a LIMITED real estate agent on the biggest purchase and financial obligation in their life, I'll never know.  

Trust me, the Listing Agent can not engage in Buyer Agency Representation.

I sure hope the listing agent worked out that great deal for the both of you!  But when they are"limited" by the very nature of "conflicts of interest" . . . I wonder how that can work?

I've been around the block a few times.  I can tell that these Buyers just don't care . . . nope. They just think they bagged and tagged the biggest game, and they may well have . . . it's a big game.  They may have just gotten played!

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