THE ONE THING THAT MANY BUYERS DON'T KNOW BUT SHOULD AND COULD SAVE THEM (and their agent) a lot of stress and wasted time. This past Thursday, my buyer specialist team and I were having a meeting, and a discussion began about how buyers relate to us, and how we can continue to work really hard to help buyers find the perfect property with no assurance of earning any income if the the buyer walks in to an open house or happens on a property without him or her.
My marketing manager, who recently bought a home, but is not a licensed realtor, told us that when she was buying, she never knew that she could see virtually all properties with the one realtor she liked the most. The truth is that in a seller's market, with many exclusives that never make it to the Multiple Listing Service, there is some benefit to rushing to the listing agent. They may hold the proverbial "KEY" to get into THAT particular exclusively listed home, and going with the agent you really like and trust may be counterproductive. But be aware, you will not get much help in a seller's market. Either you buy now or the listing agent might kick you out of the house to let the next buyer on line come in! Luckily for buyers we are in a kinder, gentler market now. However, the common belief that if you want a house, you should go directly to the listing agent in this market, is likely to cost a good buyer stress AND money. Here's why: Most often, the listing agent got the listing by pleasing the seller with a high price and a low commission, so it's in the listing agents best interest to keep that game going for a while...any offer, even a respectable one, will probably be scoffed at and when the agent calls the seller, they will often agree that the offer is TOO LOW. In doing so, the listing agent endears themselves to the seller, until time lets them chip away at the inflated price that they bought the listing for passes. Once the house is on the market a flew months,the listing agent once again is in a weaker position to get you the home, because the seller may already be disappointed with them, either because the listing agent stopped communicating regularly with them, or they have figured out that they chose the wrong realtor, and everything the agent says is questionable. In so many cases, the listing agent, unless you are sure of their reputation for listing homes that are usually priced right, and their level of cooperation with sellers, buyers, and agents alike, may not be the one that can best serve your needs of buying the house at a price you can live with, in a hassle free manner. The listing agent is not interested in YOU! The listing agent will not care if you buy the home or if someone else buys it, and in this market, in the unlikely event that you are competing directly with another buyer, the listing agent will only be able to get you the house if you pay the most. While commissions have come down over the years, more sales fall apart because the agent just cannot make up the difference between what a buyer is willing to pay and a seller is willing to take. An agent just cannot OWE money to a seller in order to make a sale. They have to make some profit, after all. BUT if you know that there is one agent that you like, and has been really focusing on you, calling you regularly with anything that comes on the market, and you choose to work with them only,whether you sign a buyer agreement or not, THEY WILL NOT STOP UNTIL THEY HAVE FIGURED OUT HOW THEY CAN GET YOU THAT ONE SPECIAL PROPERTY THAT YOU WANT! They will work harder for you than anyone else if they know you are loyal to them.
Many buyers come to me, or rather, to my buyer specialists, when they have already lost a house with another agent. Here are the facts; if that agent had a long established relationship with that buyer, that is unlikely to happen. You just get to know the people better, what they are looking for, how much is too much, and you as an agent are more vested. And you as a buyer, really can see everything out there with very little exception, with ONE agent that you choose, by referral, or by trying a few out for size. The key in ease of purchase, and a fair shake once you buy, is to SELECT AND AGENT YOU LOVE AND STICK WITH THEM. We can do so much better for you that way and our loyalty to your needs stays strong when we know that someday, when you buy, we will (finally) get paid. And after all, don't you want an agent who cares? I hope this clears things up for all buyers that think that if you see a sign for sale, that the only, or best way to get in to that house is to automatically call the number on the sign. We love loyal buyers. And as all my clients, customers, attorneys, and business associates know, and you know it too, if you have read any of my blogs, it's all got to be "win-win" for all parties to make a successful sale, or it's "no deal". Here's to all of your "win-win"situations! Happy Valentine's Day!
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