Buyers, once the step-child of real estate, are what is keeping the market alive in Del Norte County and with prices dropping and seller's accepting lowball offers, buyers are stepping up to the plate to purchase.
Buyers, consider working with an agent that focuses specifically on buyers and I'll give you a great example of why.
A lovely couple had picked out a homethey were interested in and went to a nationally known real estate office and talked to the floor agent. The agent showed the lovely couple the home and the couple decided to write an offer.
From my own experience the last three weeks, buyers are coming in loooooowwwww on their offers and apparently, buyers talk to other buyers, because they all seem to know everyone's making low offers. This lovely couple is no different. They wanted to make a low offer, but their agent said they should make a full price offer.
I was surprised at this. I am a buyer's specialist. I work with buyers 95% of the time and enjoy it very much. I try to get my buyers the very best deal I can, this is my fiduciary responsibility and I take it seriously.
IF that agent had several listings in the neighborhood of the lovely couples prospective home...well, wouldn't that agent be doing her best for her listings to keep comparables as high as possible, in other words to keep prices up?
Buyers, if you work with an agent who focuses on buyers and not listings, you will not have this vested interest going on. You will have an agent who is focused entirely on you and your needs and not thinking about the five other clients in the neighborhood who will have to lower their prices if this home sells for a lowball price.
So, what happened to the lovely couple. They decided to look at the home with a buyer's specialist and wrote an offer that was reasonable for that market at that point in time. The agent had nothing more than her buyer's best interest at heart and put together the best deal she could based on her knowledge of the market at that time, on that day.
Doesn't this make sense? Yep, it does.
Thank you for stopping by. Your comments on this post are welcomed and appreciated.
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Missy,
No, she wasn't the listing agent, and yes, too weird.
I am a buyer's agent, that is all I do and I love it. Thank you for making this point known, most people walk into an open house and think the listing agent is on their side. I even argue this point with agents who swear that they can be fair when doing dual agency. How can they?? Truth is they can't, in hte words of a real estate attorney, "dual agency is a legal fallacy".
More buyers should understand the difference in agency relationship and how it can affect their transaction.
Renee,
Thanks for the kind comment.
Darrel,
Amen and amen. How can it be said there is no conflict of interest when you represent both buyer and seller? Isn't that like saying there's no conflict with an attorney representing both the defendant and the plaintiff?
Fran,
Sorry for the late comment. This post makes so much sense that most will probably miss it. I also agree with your comment to Darrel. Apply this same logic to the 'one stop shops' and it really starts making sense. Thanks, Fran
Joan,
I'm sure you are right for most agents. Most I know work very hard on their buyers behalf.
Thanks for your comment.
Diane,
Thanks for stopping by. I agree wholeheartedly.