Beware of a Realtor Claiming to have Buyers

Has a real estate agent met with you to sell your home and told you the he has buyers looking to purchase your home?  This could be the oldest line in the book and one that should immediately ring alarm bells in your head.  

The truth is, all real estate agents have buyers. But what is he really saying? Is he saying that he has a buyer ready to bring an offer to you today without putting your home on the market?  It’s possible, but that wouldn’t serve you, because you should want to expose your home to the largest market possible.

The truth is this doesn’t serve the realtor either because he wants the listing to expose his services to the largest possible market also.

Let’s just say the listing agent (the agent marketing your home) does convince you to let him put your home on the market and he ends up bringing you a buyer. Chances are, this buyer wandered into his open house unrepresented.

At this point, it is still not ideal to have him sell the home to his own buyer. Why?

Because it could be a conflict of interest.  When you stop to think about it, could this real estate agent truly represent both the buyer and seller when the buyer wants to buy the property for as little as possible and the seller want to sell for a top price? The agent then becomes a mediator, trying to act as impartial as possible.  It can be done, but in short, buyers and sellers should have their own independent representation.

The questions to ask a realtor, is not whether or not he has buyers, but what is he going to do to market your home?  Is he going to have a floor plan of the home drawn up to attract buyers trying to decide which open houses to visit? Will he use a professional photographer to capture not only the eyes but the hearts of potential buyers? Will he produce virtual tours shown on the internet so that buyers come mentally prepared to buy when they visit?  What is his or her background and track record?  Does he have a website and if so how many people visit the website every day?

The next time a realtor tells you he has a buyer interested in your home, interview another agent.  Don’t fall for the oldest line in the book.    


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