The Frankin TN housing market has been crazy this year. Homes that are priced appropriately and properly prepared for sale are selling quickly. You would think that buyers would be knocking our doors down trying to find the right buyer's agent to help them buy a home.
Instead, what I am finding is a greater number of buyers want to go it alone. They somehow think if they contact the listing agent directly they'll be guaranteed of getting the house.
They aren't even contacting the listing agent to save money. They've already recognized that our market is crazy and if the house looks good, it will undoubtedly get multiple offers and probably sell for asking price or above.
Buyers don't understand the risks of not having representation, especially, given our seller's market. Besides, just because you contact the listing agent, doesn't mean you'll get the house.
Given this scenario, what does a buyer's agent do for you that you can't do for yourself?
A buyer's agent will present OPTIONS!
When you contact that listing agent, he is going to tell you about one property. This is his listing. The seller has hired the listing agent to sell his house. When you contact the listing agent, he's going to try and get you to buy that house. He isn't going to tell you what the comparable home sales are. He isn't going to tell you that there is a house with the same exact floor plan down the street priced $10,000 less. He isn't going to present you with any other options. His job is to sell THAT house. He works for the seller.
When you visit a builder's model, the on-site agent is going to tell you about the products he offers. If there are multiple builders in the neighborhood, he's not going to tell you the plan you actually are looking for is sold by a competitor. That on-site agent is looking to sell you one of his houses and his plans.
He's not going to tell you what the most resent home sold for. He's not going to tell you that the other builder has more plans available. And he's certainly not going to say that you can get a better price elsewhere. His job is to sell you HIS PRODUCT. He works for the seller.
What does a buyer's agent do for you that you can't do for yourself?
A buyer's agent will present OPTIONS!
Last year, a young couple came to me. They had already put a $10,000 deposit down to reserve a premium lot in a new construction neighborhood. They realized that they had plucked down $10,000 and didn't know their options.
We went out and I showed them every new construction neighborhood within a 10 mile radius meeting their search criteria. They looked at a lot of homes. While they liked many of the features in these homes, they seemed to be lacking something.
I presented some other options. We switched gears totally. Maybe they could find a fixer upper and then remodel. They were young and had some available cash. Plus, Mr. Buyer was quite handy and had already helped some friends remodel their home.
We began the search for a fixer upper. One problem--the fixer uppers were always missing something or were in the wrong location.
I suggested we look at homes that already had some things updated but still gave them a little bit of latitude for cosmetic changes. BINGO! They fell in love with a house that had already completed a major bath renovation but still left them with a little to do to make it their own. And guess what else? This home was $30,000 less than the new construction home they had hoped to build of a similar size.
The on-site agent didn't do that for them. The on-site agent didn't show them other options. The on-site agent was looking out for HIS boss, the builder. But it was MY job to look out for MY clients, the buyers.
The point is--buying a house will likely be one of the most important purchases of your life. Do yourself a favor, hire an agent who can help you explore your options, who will look out for your interest and who will fight to get the right house for you. The best part: a buyer's agent will cost you absolutely nothing.
What can I do as a buyer's agent for you that you can't do for yourself?
I can present OPTIONS!