The article started with a catchy title, “8 home buying secrets your real estate agent won’t tell you”.
It peaked my interest, after coming from a long time experience with the LAPD, and some people’s world view of those involved in my previous profession, I was intrigued.
However, after getting through the article, It seemed that something was amiss. This was not a “general things to watch out for posting on this blog…” – It seemed like a personal attack on real estate agents in general. Almost making everyone of us look as if we’d throw the baby out with the bathwater, if we had a chance.
“Your agent is your agent…”
I suppose the attempt here was to tell the consumer, the buyer or seller of the home to stay in control. Also, it seems to drive the point home about your agent is someone that works for you, someone that you hired. Okay, from an agent to consumer, that is the way it should be. No one likes to be pushed around. The High-pressure sales games and tactics are a thing of the past, if anyone operated like that in real estate circles today they would be the number 1 target on Yelp.
“Only fools fall in love…”
This topic is almost talked about as if a Real Estate agent has a secret power in influencing a buyer to do something they don’t want to do. It is true, that we have the real estate experience, but to “set up” someone when it comes to making a bad real estate decision, that is so Circa 1980’s. Agents look at representing buyers as a future sale. They should be approaching real estate from an investors perspective and relaying that to their clients. The best spot any home buyer can be in would be to buy, live, hold, rent and buy. BLHRB – When real estate agents, those I know do, approach home buying in this manner – It does not come down to the buyer loving the home, it just makes sense.
“Be willing to walk away…”
I get this one. As a buyer, remember to keep your decision to cancel the real estate transaction, if things don’t go your way, dangling in front of your real estate agent like wearing a necklace of Kryptonite when on a date with Superman. That level of stress is super and will be very much appreciated by your Realtor. Seriously, are we in high school? Any agent that is in business today will know how to negotiate a real estate transaction. Telling your real estate agent that you are willing to cancel the entire deal if you don’t get what you want from the seller could equate to a buyers destruction. Tread lightly on this one and if you are working with a Realtor, talk with them, they typically speak the same language as you…
Time is on your side…
Probably the worst point of advice thus far. Time is not on your side in a constrictive real estate market. While you are being told by this Author to stand in the middle of the street and flex your muscles and shake your fist, you may have another buyer swoop in and buy the home. This lesson and it’s presentation depends on the real estate agent you have representing you. The time frames that are contractual should be discussed within in the Buyers Briefing between you and your chosen real estate professional. However, be careful and make sure you watch the market, know’s its current levels with regard to inventory or it being a buyers or a seller market, before you start enforcing the luxury of time.click here to view our Santa Clarita prices and inventory pages
Your agent is not your friend…
Agents are salesmen. Agents earn a commission only if they sell your something. I agree. However, we have been working with several buyers that have exceeded the 3 year mark as of late. Are they Super Serious Buyers? I think they are in their minds. We do the recon, I keep advising them when new listings hit the market. We show the properties and write the offers. Some write offers lower than asking price. Some have financing that is not attractive to most of the real estate sellers of the world who would rather have a cash or conventional offer. They want to buy a home, but they are not putting out a fire – We totally get it.
At the end of the day this is how our mindset is. You buying this home – the one we are working on getting you, that’s great. It will pay my team and I a commission, we will be able to pay some bills and maybe save a little. Thank you for that. However that is not the “big pay off”. The “Big Pay off”, is the fact we will do such a good job for you in the process, you won’t shut up about us. You will write reviews for us on Yelp, Google, and the other “review sites”. You will tell your family, friends and work associates about The Paris911 Team at REMAX of Santa Clarita at the very moment you hear them wanting to do anything with regard to real estate.
Most real estate agents have this view. I’ll never forget something I heard Jeffrey Gitomer say and I’m paraphrasing, All Things being equal, friends would rather do business with friends. All things being not so equal, friends would still rather do business with friends. The real estate agent of today is in the friend business or they are not in the business any longer.
The listing agent just might be your best friend…
Great advice for any real estate buyer if they don’t mind being thrown under the bus. Who is the listing agent within contract with? Who knows the seller’s bottom line? Who will know your qualification or approval amount and what you can offer at your maximum? Yes – the listing agent would if you went with them. We call this dual agency, the agent representing both the buyer and the seller of a home, condo or town-home. In some states this “dual agency” is illegal. In California, it only has to be disclosed and agreed upon by all parties within a real estate transaction. One more thing, my experience of having been blessed to have worked with a lot of Real Estate sellers, is the fact that they are not too comfortable when we bring the buyer to the table. It’s always talked about, the listing of the home, the amount they need out of the home, and I have a fiduciary responsibility to keep that secret and to represent the seller of the home to the best of my ability. When I’m representing a seller, I am playing enforcer. I want the buyer to get their contingencies removed as soon as possible. I’m wrangling the lender to make sure the buyer is doing their due diligence and that the lender is not asleep at the wheel. I am a tyrant to buyers when I’m on the sellers side of any real estate transaction.
However, when I am on the buyers side of a transaction, that is a whole different story. That is when I’m running the interference for the buyer. I’m getting what they want from the seller. I am avoiding any removing of contingencies until the point the buyer is 100% certain they want to still purchase the home, condo or town-home. I enforce the request for repairs, disclosures, as compared with the home inspection report, the termite report and the Natural Hazards and clue reports. I have vowed to never have any of our buyers lose a deposit when wanting to cancel a deal – That vow has never been broken. I have also made it my real estate team’s mission to cover, protect and provide safety to our Real Estate buyers, not in accordance with purchase price, but in accordance with our “public service” background.
There is no such thing as an embarrassingly low offer…
The preface to the entry into this part of the article had to do with a property that has been sitting on the market without any activity on it. Depending on the market, this could be a buyers best friend. If we are in a buyers real estate market and if properties are just sitting collecting dust – Firing off a lower than asking price offer may be just what the doctor ordered. However, if we are in a constrictive inventory situation and if properties are selling in a matter of hours, that advice will be the worst ever given. This is the exact reason that you need to have a sit down with a real estate representative in their offices to discuss the market and the strategies that have been working with their buyers lately. How does your prospective real estate agent handle the presentation of the offer? How do they start the negotiation? What do they think about Verbal Agreements? Ask questions and interview more than one agent before deciding on who to “hunker down” with in the real estate trenches. Attend a Santa Clarita real estate buyers briefing at our REMAX offices
On-line real estate companies save you money…
It’s no secret – Redfin has their agents, they are a lead generation brokerage BTW, give back a portion of their earned commission to the buyers that use their services in the form of closing costs. There is also a split due back to redfin from the agent using their lead generation company. Therefore if an agent works in the Redfin family, their commission can be more than 50% less than if they were working with a non redfin client. You’d think that this would be all the buzz on the consumers end. They give money out of their commission back to the client in the form of closing costs!!! They will save the real estate buyer or seller money!!!
I suppose a real estate agent would rather make their entire paycheck instead of giving some of it to a lead generation company or in the form of closing costs in which we can typically get the seller to pay them most of the time. When you are buying a home, it is about who is representing you. How is the local Santa Clarita real estate agent’s reputation amongst other real estate professionals? Are they liked or hated? If the other sharks cannot stand them, then, you hitching your trailer to theirs will cause you to not get what you want.
Do some local searches for real estate buyer agents or if you are in our neck of the woods, Santa Clarita real estate agents. See who pops up in Google’s search pages, organically, not within the sponsored ads(those can be bought). Google has quite the scrubber to only return results that they deem as being experts and as the best in the real estate field. Be safe, search well and let us know when you are ready to move.