Dear Readers -
I really learn a lot from BLiz - that is Liz and Bill Spear. Reading their posts will certainly move your knowledge base forward.
Here's a complete explanation of why NOT to go the the Listing Agent as an unrepresented Buyer. If you didn't understand the concept before, you will after reading this.
Liz and Bill Spear often present wisdom with a bit of humor in the thoughts they share. Everyone can benefit from checking out their posts.
All the best -
PS If I haven't thanked you personally for reading and/or commenting on my posts, let me say thanks now. I appreciate every "click" and especially enjoy comments! L.
Ding ding ding.....
"In this corner wearing blue trunks and weighing in at a scrawny 120 pounds is John Q. Public who last purchased a house 10 years ago! In this corner wearing red trunks is Listing "BIG TIME" Agent weighing in at 240 pounds of chiseled machine who sells 30 homes a year! Let's get reaaaaaaaaaaaaaaaadddy to ruuummmmmmmble!!!!"
Yeah, it's kinda like that.
Every now and then we get a call from someone who finds a particular home on our website (since it shows ALL Cincinnati MLS homes for sale and the caller misses the part where the listing agent is identified) and they ONLY want the listing agent.
Then they break out real estate myth #286:
"I'll get a better deal without an agent!".
I can try and warn them but rarely is there any getting through to the caller because they assume it's JUST about getting a paycheck for me. But here's the real deal:
I DON'T EXPECT YOU TO HIRE ME, I JUST WANT YOU TO HAVE YOUR OWN REPRESENTATION!!
Sure, I'd like the opportunity, but what I'm more concerned about is the caller is just setting himself up to fail. He doesn't know what he doesn't know, and his ears are closed. And here's just a sampling of what they typically don't know:
- The listing agent CAN'T tell you a home is badly overpriced without violating responsibilities to the seller. (However, a buyer's agent CAN tell you the REAL value of a home).
- The listing agent and seller has already made provision for how much the agent will get paid and you can bet there's not a clause in there that says "We'll take X% less if the buyer doesn't have an agent!"
- That the online estimates for a home's value are often off, WAY OFF. If you read the fine print the site will tell you the tolerance is +/- 20%. So if you think you'll REALLY get a $400,000 home for $350,000 just because you came without an agent?
- What the standard Cincinnati purchase contract includes and what is typically done and not done in this area. (E.g. should you inspect for radon?)
- What to do when things don't go perfectly. What if the seller doesn't fix something properly? What if the appraisal doesn't make? Who do you think the listing agent is going to look out for in that situation?
Bottom line, there's a lot more to successfully purchasing a home for a good price than might be first apparent.
If you want to risk a first round knockout, then sure, go straight to the listing agent. But our recommendation? Don't make the listing agent's day but instead hire someone who will step into the ring and represent YOU and get the BEST overall deal for you! Again, it doesn't have to be us, but DO hire an agent to take care of you!
Other questions about buying or selling a Cincinnati area home? Just contact us at 513-520-5305 or Liz@LizSpear.com!
Liz and Bill aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS
William (Bill) Spear, CRS
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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