I’ve Got a Buyer For Your House

By
Real Estate Agent with The Hudson Company Winnetka and North Shore
https://activerain.com/droplet/4dFT

I’ve Got a Buyer For Your House

 

We have had a lot of success when we are called in for competitive market evaluations for sellers who call in two or three other agents.  On those occasions when we don’t get the listing,we often ask the client why they didn’t choose us to list their home.  

 

Many factors come into play in the decision making process to choose a listing agent.  Some are more tangible like the quality of the listing presentation or the track record of the listing agent.  Some are a bit more esoteric such as the feeling of a stronger rapport or a sense of familiarity because they have received a promotional postcard or have seen the agent’s picture in a newspaper ad. All of these and many other factors can play a role and are of varying importance.

keys to the house

However, there is one comment that really irritates me when it is the primary reason for a seller’s choice.

 

That line is:

 

“I decided to list with _________ because they assurred me that they have ready, willing and able buyers for my property”.

 

There are many problems with this line of thinking.

 

  • Do you believe that they wouldn’t bring the buyer(s) to your home if they weren’t the listing agent?  If this were the case, they wouldn’t be representing the needs of the buyer and would be placing their own needs above those of the buyer.

  • Would you be well served with the listing agent also representing the buyer? In Illinois, if an agent is performing “dual agency”, they aren’t supposed to provide advice to either party. Their role is really only to act as a transactional broker and to help with the mechanics of the deal but not to counsel either side.

  • By not exposing the property to the full market by quickly wrapping up the deal with the listing agent’s own buyer, the seller will never know if the potential benefits of exposure to the full market would have provided an opportunity for a better price and other terms that would have been more beneficial.



In spite of all this, many sellers don’t read through the fog and are seduced by the idea of a quick, easy sale.  



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Susan and Howard Meyers

The Hudson Company

851 Spruce Street

Winnetka, Illinois  60093

847.778.1394

howard@susanandhoward.com

 

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Rainmaker
798,709
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Susan and Howard, the problem is you can't expect home sellers to know or understand the real estate industry and how it works. All they hear, and want to hear is that an agent has a buyer for their home. That's all they care about.

Mar 26, 2014 01:49 PM #1
Ambassador
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Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     A friend of mine is a "dealer"; he buys and sells several houses per year.  He does FSBO. 

     He gets that "I have a Buyer" line frequently from Listing Agents.  His response is something to the effect of "If you have a Buyer, why should I sign a 6-month agreement with you?  Just bring that Buyer to me now, and I will pay you a commission!".  Of course those Agents never come back.   

Mar 26, 2014 11:10 PM #2
Rainer
164,155
Howard and Susan Meyers
The Hudson Company Winnetka and North Shore - Winnetka, IL

Troy....You're absolutely right.  It's often not easy to educate people about the nuances of the listing process.

Mar 26, 2014 11:36 PM #3
Rainer
164,155
Howard and Susan Meyers
The Hudson Company Winnetka and North Shore - Winnetka, IL

Fred...Your friend has figured it out.

Mar 26, 2014 11:36 PM #4
Rainmaker
522,222
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

A thorough explanation of agency relationships may be the best remedy for the "I have a buyer" fairy tale.  Most states require it, and many real estate professionals drudge their way through compliance as quickly as possible.  That opens the door for the "I have a buyer" liars.

Mar 26, 2014 11:36 PM #5
Rainer
164,155
Howard and Susan Meyers
The Hudson Company Winnetka and North Shore - Winnetka, IL

Mike...while that discussion is essential, the appeal of "i have a buyer" is quite strong to some sellers.

Mar 26, 2014 11:40 PM #6
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Rainer
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Howard and Susan Meyers

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