Do You Trust Your Agent? Do Ya Feel Lucky, Punk. Well Do Ya?

By
Real Estate Agent with Atlanta Communities Real Estate Brokerage GREC #208281

There are some great deals coming onto the market everyday. I've seen a few first hand and sometimes I want to scream out loud for someone to come and get the deal of the year.

Unfortunately, no matter what I say to a buyer, if they don't trust me and my experience they won't feel comfortable pulling the buying trigger and snagging a great deal.

Unless you are in the game and looking at homes and getting a good feel for value, you probably aren't going to trust me when I tell you that you are going to get a great deal even if you make an offer over the full asking price. You are going to think that I'm nuts for suggesting that you pay full list price in this kind of market. Then you are going to get mad at me when your low ball offer gets rejected and you miss out on the perfect deal.

Recently, I've seen a couple of crazy deals. A home I had listed 3 years ago for $459,000 finally went into foreclosure. The guy had it financed for about $436,000. He had it listed with a few others after my listing expired but it never sold. It was probably worth $350,000 in today's market.

I fell off my chair when I saw that the bank listed it for $152,000. I talked with several people about what an awesome deal this was and told them that it would go for much more than the list price. But if you haven't been looking in that market, there's just no way that you would think about putting in an offer at $200,000.

Well, it sold this week and I saw that it went at $250,000.  Someone got a great deal even though they paid $100,000 more than list price.

I had a buyer give me a call the other day who had just seen two homes and at the insistance of his agent, he put in a full price offer. He was very uncomfortable about doing this. He just didn't trust that his agent had his best interests at heart. I suggested that he have his agent show him 10 more homes in the same area in order for him to be convinced that this was in fact a great deal and he should continue through with the contract.

I am a firm believer in "trust but verify".

Don't take anyone's word for it. Don't even trust your cousin Vinny. Don't trust the "Christian" Realtor. Trust your own eyes. Maybe you can trust your Mom but even there, make sure she knows what's going on in the current market.

If you've only seen one home and your agent wants you to jump on it, just tell him to "Show me more homes!" If you don't have that first hand experience, you'll be like this guy on the ground looking up at Dirty Harry asking whether or not you feel lucky.

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About the Author:  Tim Maitski has been a full time Realtor since 1999. He has sold several hundreds of homes in areas around metro Atlanta.  Tim started with RE/MAX Greater Atlanta and is now with Atlanta Communities Real Estate Brokerage.

 

Along with blogging on ActiveRain, he provides one of the best real estate websites in Atlanta at www.HomeAtlanta.com .

 

His proprietary  "Maitski Line Reports" chart out the absorption rates over the past 14 years in 37 different market areas.  Know when it's a good time to buy or a good time to sell.    

 

His online Property Tax Calculator allows you to compare property taxes in many counties and cities around the Atlanta area.  He provides the Atlanta MLS Power Search Tool that allows searches of homes using over 35 specific criteria.

 

Over the years, Tim has optimized his business so that he now can offer a huge 50% commission rebate to his buyers.  The more experience one gets, the easier the job becomes.

 

Tim also has a "Five Days to Sold" System that uses an intensive marketing blitz to create a showing frenzy that creates urgency and offers.

 

Tim is always looking to LinkIn with anyone who is interested in building their social network.

 

View Tim Maitski ●Atlanta Realtor●'s profile on LinkedIn

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Rainer
84,839
Mary PAUL, ABR, CRS,GRI, e-PRO,
RE/MAX Advantage Realtors, Searcy, AR - Searcy, AR

You do have to trust your Realtor, and that Realtor should be deserving our your trust.  If not, look for another one!

Feb 01, 2009 03:36 AM #1
Rainmaker
67,980
Victoria Carter Guaranteed Services
TwoMoveYou - Ajax, ON
TwoMoveYou

I completely know what you mean!  I have seen great deals come and go within a matter of days.  If I had the money to just buy everything myself I would have!  I guess when you develop a reputation that you are honest and that you are capable of recognising great deals and others believe you is when you will get EVERYONE BEGGING for your services!

 

Feb 01, 2009 03:48 AM #2
Rainmaker
62,274
Tere Rice
Allison James Estates & Homes - Temecula, CA
First Time Home Buyers, VA Buyers, Horse Ranches,

Very well put. This market is a show me market. I can't even tell you how many times in the last six months my buyers insisted on offering list price or lower after we had already done the homework. If it is a great deal others will be on it! They think they are the only ones looking to buy. The media has done an appalling job of getting the facts straight. It is very misleading. A great agent will do the homework check the CMA know their area and know a great deal when they see one and what the buyer needs to offer in order put together a winning bid.

 

I admit not all RE agent's are created equal. And the buyers need to be educated if that means going out and looking at 25 homes and writing offers do it. Most buyers need to see it to believe it. When I tell my clients there will be a lot of offers and the home will sell to the highest bidder they listen the second time. The Bank owns when priced below market are getting 10+ offers.

 

What does it take for you the buyer to trust your agent, what are your perimeters. Ask questions! There are a lot of GREAT DEALS out there.

Feb 01, 2009 04:02 AM #3
Rainer
56,808
LYDIA LAMOREUX
ZipRealty - Volente, TX
Thanks for your great blog. I will keep what you said in mind when dealing with skeptical clients or clients that expect even more discount on homes that are priced at a super deal. I too have seen some fantastic deals that come on the market. Only thing is, more often than not, these extreme bargain hunters would blame their realtors rather than their own unrealistic offer. Sometimes you can't win 'em all, even if the perfect home is staring right at them...even if you're a perfectly trustworthy RE agent.
Feb 01, 2009 04:17 AM #4
Rainmaker
560,627
Tim Maitski
Atlanta Communities Real Estate Brokerage - Atlanta, GA
Truth, Excellence and a Good Deal

Mary Paul - You're right.  If you don't trust your agent you should find one who you do trust.  Deserving or not, it doesn't hurt to be skeptical.  I don't necessarily trust my doctor on all things.  

Victoria - That's my goal. Business is much easier when people trust you.

Tere - It's a lot of hard work trying to educate some buyers but I just don't know a better way. Seeing is believing and many times they have to see some great deals slip away before they'll trust your judgement.

Lydia -  I've been there.  Agents are usually the convenient scape goat when deals are missed.

Feb 01, 2009 06:27 AM #5
Rainmaker
1,142,648
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Tim, I feel it's all about trust. On both sides. And there's no better way to build trust than to know your market inside out and to be straight with folks. 

Love the new video blog!!! 

Feb 01, 2009 10:15 AM #6
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Rainmaker
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Tim Maitski

Truth, Excellence and a Good Deal
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