Entries from Searchlight Crusade tagged with 'buyer's agent'

Asking Price Versus Sales Price

Hard as it may be to believe, I've never done an article comparing asking price to sales price. It's way past time. Asking price is quite simply, a written representation of an offer the seller would be willing to...

"Contractor's Specials"

I was looking through some real estate listings and saw one property described as: "Contractor's special, first time buyers and investors. House needs TLC." Does contractor's special mean u better be a contractor if you wanna buy this place? It...

The Era of Make Believe Loans and The Law of Unintended Consequences

One of the things I've heard and read other agents complaining about is that they can't find qualified buyers to represent. Welcome to Unintended Consequences 101. The way that the market had been working is this: Young, often unmarried, buyers...

Some Offers Are More Equal Than Others (Even If They Are For Less Money)

The phrasing in parallel with Animal Farm is intentional. Sellers need to understand this, and so do buyers, especially in a hot real estate market. Some offers are more equal than others, and knowing how to choose between competing...

Working with Multiple Agents While Searching for a Purchase

If you have three real estate companies sending you emails with multi-listings, if you want to see one of the properties, who gets the commission? There five properties that I want to see the inside of the houses. Company A,...

Short Sale Negotiators and the Interests of Potential Buyers

I am seeing a very disturbing trend these past few months. Rather than do the work they should be doing, listing agents are treating the entire short sale process as a kind of "Black Box", delegating the negotiations with the...

Why Sellers Should Counter All Reasonable Offers

I just got off the phone with an agent who claims to have three offers on the property, but he doesn't want to counter the offer. He just wants my client to voluntarily throw more money (or more something)...

Real Estate and "Priced for Perfection"

The stock market has a phenomenon where a company's stock is "Priced for perfection." It may sound nice, but "priced for perfection" is emphatically not a good thing. It's where the stock price of a company has been bid...

Failure to Disclose a Known Material Fact to Buyers

My husband and I bought a golf course-view house in DELETED. We closed 5 days ago; moved-in 4 days ago; and 2 days ago found out that the golf course is scheduled to close. It was announced by the golf...

The Tollbooth Model of Real Estate Agency

Over the last couple of decades, there's been a rising movement, mostly on the part of those who want a piece of real estate agents business, to sell agents as a toll booth. Tollbooths sit there, guarding the entry to...

"I'm Working With Someone Else, But Could You Just Help Me With..."

I recently got an email from a reader that was coming into a property as I left. I dropped my card and we did the lockbox shuffle thing, then there was an email when I got back to the...

The Sperm Donor Theory of Buyer's Agents

Some fathers, sad to say, are not involved in their children's life beyond conception. Maybe it was just a one night stand and they have no idea they even have a child, maybe they were involved with the mother on...

Some Secrets to Good Transactions

Be prepared for trouble before it happens, know how strong your position is or isn't, and don't ever overplay your hand. Real estate transactions are the largest transactions most folks get involved in. Even small percentages of $500,000 or more...

Don't Rely On Reputation - There Are No Silver Bullets

On a regular basis, I get emails that ask me what I think of a particular company. When I check out public forums, I see questions about particular companies every time. "What do you think of X Realty, or Y...

I'm Competing Against Multiple Offers. How Do I Proceed?

The first thing to consider is that maybe you shouldn't. You never want to get involved in a bidding war. There's a classic riddle I ask every single one of my buyer clients at least once. "How often does...

The Seller Always Knows More About the Property Than the Buyer

Real Estate information is asymmetrical. One of the central facts of real estate transactions is that the seller always knows more than the buyer. They've lived in the property for years, and had to deal with any defects first hand....

Buying Real Estate Isn't Simple

And I don't know why people expect it to be. Cancel that. I do know why. Popular media. It's not all that common in popular media, but on those occasions I see someone buying a house in the movies...

Why the Real Estate Buyers Agent's Commission is Paid by the Seller

I have to admit I'm uncomfortable with it and don't like it. As a buyer's agent, here I am getting paid by someone who not only is not my client, but whose interests are aligned, in most issues, opposite to...

You Want an Agent That Can Pay ENOUGH Attention to YOU

A lot of advice gets given to choose a "top producing" agent. These highly corporate offices may have the name of an individual agent attached to them, but they are in fact transaction mills. They have done pretty well for...

Will Agents List My Property if I Owe More Than It's Worth?

The answer is yes. This situation is called a short sale. As with everything else pertaining to real estate, there are potential upsides and downsides. First of all, lenders in short sale situations often demand agents reduce their commission, so...