Before We Show You Our Listing, There's Something You Need to Understand!

By
Real Estate Agent with RE/MAX Elite 513.265.3004 www.LizTour.com SAL.2002007747
http://actvra.in/hCD

404 Silverwood Farms Lebanon OH 45036Before We Show You Our Listing, There's Something You Need to Understand!

We've mentioned before, when someone calls wanting to see one of our listings, we're going to ask "Are you working with an agent?".  It's NOT so that we have an excuse NOT to show our listing, but so we know from the start exactly what our relationship will be with you.  In real estate speak it's called agency relationship.  It defines how we'll be interacting with you and the rules are significantly different if you have an agent representing you versus running solo.

And perhaps it's just a perception, but it seems more and more we're getting direct calls to show our
4261 Eastlake Dr Mason OH 45040listings.  Again, that's fine.  Our primary duty is to the seller and to SELL their home.  We know more about that home than any other agent out there, but there's a few things you need to understand before you schedule that appointment with us:

WE WORK FOR THE SELLER.
WE WORK FOR THE SELLER.
WE WORK FOR THE SELLER.


We can't emphasize this enough.  There are questions a buyer's agent might be able to answer for you that we can't or won't BECAUSE we work for the seller. 

Morrow patio home for sale in Ivy Glenn at WedgwoodA buyer's agent might be able to deduce WHY our sellers are moving, but if you ask us, we're probably not going to be able to answer that question in a way that will make you happy unless the seller has authorized us.

Don't get us wrong, we'll answer any questions pertaining to the house that we can answer, and we won't be trying to hide anything from you.  The house is fair game, our sellers are not. 

And don't assume that if you're going direct to the listing agent that you'll get some super secret special pricing deal on the home.  Your assumption that you'll get to pocket the savings because there's NOT a 2nd agent involved might not, and probably is NOT the case.  Sellers are only concerned about their NET price.  Hit it and you get the home, come up short and you'll still be looking.

6960 State Route 48 Clearcreek TownshipAnd keep in mind that if you tell us that you DON'T have an agent, but really do, you risk cutting out your agent from getting paid if you proceed with the purchase.  Your buyer's agent earns their pay fully by keeping a clean path from start to finish....show the home, write and negotiate the offer, take you through inspections and all the way to closing. Don't think you're doing them a favor by not bothering them to see a home because "you know they're busy".  

There are more reasons as to why you should have a buyer's agent from the start, but we've covered some of the major issues above.  At it's essence, do you want to trade having an agent working SOLELY for you for the hope of MAYBE saving a little on the home?

So you know the risks, do you still want us to show you that home?  You're an adult, your call.

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

Posted by

REALTORS(S) Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Liz direct:  513-265-3004
Bill direct: 513-520-5305     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

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Re-Blogged 7 times:

Re-Blogged By Re-Blogged At
  1. Margaret Goss 08/29/2011 09:41 AM
  2. Corinne Guest 08/29/2011 09:47 AM
  3. Timothy Acord 08/29/2011 10:50 AM
  4. Amanda Howard 08/29/2011 11:56 AM
  5. Cheryl Ritchie 08/29/2011 06:49 PM
  6. Michelle Francis 08/29/2011 08:12 PM
  7. Ellie Shorb 08/30/2011 09:29 AM
Topic:
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Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Roger, Ilene has been very kind to us :)

Janet, Buyers are buyers.  We might have some different rules state to state, but they all want the same thing, just don't always know the best way about how to get it.

Dan, Hard to understand isn't it?  Like we've got a different list price if it's just "tween us friends!" :)

Jeff, True!  If not interested in the house and writing an offer, who cares?  Basically answering that question with anything other than some sort of vague, vanilla response other than "personal reasons" just gives leverage to the buyer, and we're NOT going to do that.

Brenda, And even worked in four pictures and links to four of our listings so we can get more direct calls to show our listings! :)

Peter & Linda, Feel free to adapt as you need to :)

 

Aug 29, 2011 08:05 PM #67
Rainmaker
409,895
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

BLIZ, 

Awesome post, I just re-blogged.  Buyers - KNOW what you are looking for and don't skip any steps.  If you have an agent, let them show you the property!

All the best, Michelle

Aug 29, 2011 08:16 PM #68
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Sara, I think in general it's the seller that would benefit the most from dual agency vs. the buyer.  If nothing else, at least there aren't two agents with conflicting personalities adding to the stress of the deal (not that we do, but it's a lot harder to get torqued at yourself when you're repping both sides!).

Michelle, Thanks for the reblog :)  If I were paying someone to help me find and purchase a home, I'd expect them to be working for it, not just getting a gift wrapped check later.

Aug 29, 2011 08:23 PM #69
Rainmaker
686,449
Kay Van Kampen
RE/MAX Broker, RE/MAX Solutions - Springfield, MO
Realtor®, Springfield Mo Real Estate

Great post Liz and Bill.  This post hits home for so many agents right now.  The worst thing I see is the buyer thinking they can reduce the commission if they go directly to the listing agent......not happening!

Aug 29, 2011 08:32 PM #70
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kay, They think they can demand because all the consumer mags tell them to.  Sometimes it might work, so they'll keep trying. 

Aug 29, 2011 08:38 PM #71
Rainmaker
345,013
Rodney Mason
Prospect Mortgage - Atlanta, GA
FHA 203K, USDA, VA, HomePath Renovation Specialist

Great explanation on what so many buyers don't understand.  Buyer must understand the full implications of their actions.

Aug 29, 2011 10:04 PM #72
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Rodney, If they fully understand and then still choose to go without their own rep, well they're big boys and girls and can make that choice.  Not what we'd advice, but their choice none the less.

Aug 29, 2011 10:16 PM #73
Ambassador
1,230,826
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

Buyers somehow think they will benefit by not having an agent. They don't know that the commission has already been negotiated with the seller. If they don't have an agent, the listing agent gets the buyer's side. It's that simple.

Aug 29, 2011 11:06 PM #74
Rainer
40,071
Buki Burke
Ventura, California - Ventura, CA
(805)377-0236, Prudential California Realty

Love your post. Buyers really do not take the agency thing seriously. Most of the time they just want a better "deal" or have worked out a better deal with their "agent" so that they don't bother him or her until they have found a home. In any event, you've made some very good points, and I may just start asking people that question when they call to see one of my listings.

Aug 29, 2011 11:28 PM #75
Rainmaker
338,965
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley R since 1976;408-565-8177

This is excellent information for all buyers to understand.  Good Work.

We Realtors have aided and abetted the idea that by dealing directly with the Listing Agent, unrepresented, the price can be reduced at least by the amount of the commission to the cooperating selling agent.  That's not what the listing agreement typically says.

Aug 29, 2011 11:38 PM #76
Rainmaker
95,156
Kathleen Vetrano
Coldwell Banker Residential Brokerage - Prince William, VA
Luxury Home Real Estate Consultant

Wonderful post and information.  Love:  Hit it and you get the home, come up short and you'll still be looking.

Aug 29, 2011 11:44 PM #77
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Tammie, Isn't it funny how they think they can lay claim to it?  That negotiation was with the seller, and the buyer really shouldn't have any say in it.

Buki, And I guess if that's how they and their agent want to work it, good luck to them.  Personally find that strategy pretty risky if I'm the buyer's agent.  We had someone not too long ago that came to us direct and said if we didn't reduce to just 1% on the buy side of the double they'd go get an agent who would (and they had one to do it).  Bottom line, the same folks that try that also don't offer enough to get the home, so their loss.  Their agent just couldn't get that our sellers wouldn't accept their offer, but there was another 10k to be made for our sellers.  Hot property :)

Lloyd, It happens enough that they've got to try.  Just like most of the questions asked regarding the sellers and why they're moving, etc. that get answered when they shouldn't.

Kathleen, It's the heart of negotiating.  You've got a top line, I've got a bottom line.  If there isn't overlap, it's all just some futile dance that we'll both be leaving.

Aug 30, 2011 06:36 AM #78
Rainer
194,646
Linda Metallo DiBenardo
Re/max Impact, Lockport, Illinois - Lockport, IL

Terrific post. 

Aug 30, 2011 09:11 AM #79
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Linda, Glad you liked it!

Aug 30, 2011 09:18 AM #80
Rainmaker
562,075
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Outstanding post and well deserving of Feature status.

Aug 30, 2011 09:40 AM #81
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Wayne, Thanks!  It's been one of our more popular.  7 reblogs so far :)

Aug 30, 2011 09:51 AM #82
Rainer
15,317
Ed Hunnicutt
Carolina One Realty Charleston - Mount Pleasant, SC
Charleston, SC, Real Estate

I certainly will repeat the same words of most "great post" I think this discussion is one that will always be at the front of the line. The basics of real estate, especially disclosure!

Aug 30, 2011 01:18 PM #83
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Ed, And it came up again today.  Someone called to see a listing.  Turns out she's getting ready to put her home on the market, so she DOES have her own agent.  Just didn't know how things work :)  Of course we'd have shown the listing, but she is going to have her own agent do it now.  Works best all the way around.

Aug 30, 2011 01:40 PM #84
Rainmaker
350,563
Karen Feltman
Cedar Rapids/Iowa City, IA Skogman Realty - Cedar Rapids, IA
Relocation Specialist
Great post! All buyers need to understand why they need to be represented solely by their buyers' agent. If you feel like you are bothering that agent by wanting to see the house, the buyer is not working with the right agent.
Aug 30, 2011 10:00 PM #85
Ambassador
1,489,771
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Karen, No argument here.  If we're out of town on vacation, we'll get someone else in the office to show our buyers and prospects.  It may cost us dollars to do so, but we'll take care of those working with us however we need to.

Aug 30, 2011 11:36 PM #86
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