An Unrepresented Buyer Has Little Chance of Success In This Market

By
Real Estate Agent with Benchmark Realty LLc License# 00285925

I was just reading the post by Margaret Rome about the multiple offers on her listing, and it reminded me that the best chance of winning a bidding war is to have a buyers agent with a good reputation who knows the market. An unrepresented buyer is usually the first bid I would throw out in a multiple offer situation.

Maybe I'm a little different, but a buyers agent with of history of getting his or her clients to the closing table really means something to me. In turn it will mean something to my sellers when I go through each offer that's presented. I usually tell me sellers that I want to work with the one who is most likely to close on time, because we will negotiate the price we want, after we decide who we want to work with.

We all know that unrepresented buyers think they can get a better deal, but in this market they get to watch from the sidelines.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Cheryl Ritchie 08/01/2014 01:36 PM
Topic:
Real Estate Best Practices
Groups:
Franklin tn Keller Williams
Nashville tn real estate
Nashville Real Estate

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Rainmaker
1,521,221
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Larry: I see it all the time and these folks are basically driving around calling on listing signs for properties that appeal to them. They think they get a better deal working with the listing agents. Go figure?!

Jul 23, 2014 02:27 AM #1
Rainmaker
918,172
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Hi Norman - they do that a lot, I know because I get a big kick out of telling them that it's already sold. Every listing I've had in the last year was under contract within 2 days. All had multiple offers.

I don't even bother to put up a sold sign.

Jul 23, 2014 02:32 AM #2
Rainmaker
863,526
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

In this seller's market, buyers need more than ever to have an excellent buyer's representation just to get in the door.

Jul 23, 2014 03:19 AM #3
Ambassador
2,944,405
Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Hi Larry, Thanks for the mention. 

Jul 23, 2014 03:30 AM #4
Rainmaker
918,172
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Sarah - And all of us realtors are enjoying this pace, but it's not for the people who want to be cheap. You had better come prepared and being unrepresented is the first clue that they are not.

Margaret - You are welcome

Jul 23, 2014 04:55 AM #5
Ambassador
2,758,460
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

Good evening Larry. I have done a few inspections this week where the listing agent is working a fiduciary role. I feel bad for the buyers because they do not realize that the agent's loyalty is to the seller. Good post!

Jul 24, 2014 09:28 AM #6
Rainmaker
918,172
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Hi Michael - I'm surprised that you get to do the inspections. Most of the time the agent would just say you don't need an inspection.

Jul 24, 2014 11:33 AM #7
Ambassador
4,298,221
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Larry, in this market - you are 100% right - buyers do need a REAL REPRESENTATION!

Aug 01, 2014 03:33 PM #8
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Rainmaker
918,172

Larry Brewer - Benchmark Realty llc

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