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Have you ever listed your home with an agent because he said "I have a buyer." ?
It seems this phrase is often used to try to get expired listings, but that's just bull dung.
When the seller asks "so why didn't you bring your buyer when the house was for sale?"
some agents respond "because I was busy selling my own listings"
A buyer doesn't just suddenly have interest in a home the day the listing expires. If an agent had a buyer that was truly in the market for a home, the agent would have emailed him the listing before it expired.
Do your research and don't be fooled by the phrase.
Offer the agent to sign a 1 Party Listingwith the prospects name on it, agreeing to pay a commission if that particular buyer buys the property. If the agent has a true buyer, they would be willing to make a 1 party listing. If they won't do it this way, just consider they are just trying to get a listing. It separates the ones with a true buyer, and the ones trying to trick you into a listing.
Some low class agents, use the I have a buyer, to get listings and won't go for a 1 party listing so beware of them. If that is their ploy don't fall for it. If they truly have a probable buyer, they will be willing to go for this 1 party listing.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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We were on the other end of this when we bought this house. Inventory of homes large enough for us was very low, and our house in another state was in escrow. Our agent stopped at a house that had been on the market a year before but was taken off after not selling, and told them he had a buyer (me) and also a verbal offer, inside unseen. Two days later after the people thought it over we came in and viewed it, made the written offer and got it for our price.
So the agent who says list with me I have a buyer.....he's assuming people don't know about being represented by a realtor and not being represented by a realtor representing the other side? The realtor says he already has the buyer. So he is letting you know he is representing the buyer when he talks to you about listing your house with him. (Whether the buyer is mythical or not.)
I have known people to do one day listings when the buyers didn't want their realtor to reveal their names. These people had real buyers during hot times who drove by and liked the houses not for sale while they were looking at houses that were for sale. Some worked out well,some didn't.
So the agent who says list with me I have a buyer.....he's assuming people don't know about being represented by a realtor and not being represented by a realtor representing the other side? The realtor says he already has the buyer. So he is letting you know he is representing the buyer when he talks to you about listing your house with him. (Whether the buyer is mythical or not.)
I'm not sure I follow what you're saying, but the idea behind it is you tell the seller that you have someone who will buy the house so that they feel like if they list with you then basically it's sold already. The truth of the matter is that 99% of the time the buyer is either made up or when they actually see your house they decide they don't like it. Plus, if this agent really has a buyer then when you list with the agent who you think will do the best job for you then the agent will bring the buyer to see the house anyway that is if the buyer actually exists.
I'm not sure I follow what you're saying, but the idea behind it is you tell the seller that you have someone who will buy the house so that they feel like if they list with you then basically it's sold already. The truth of the matter is that 99% of the time the buyer is either made up or when they actually see your house they decide they don't like it. Plus, if this agent really has a buyer then when you list with the agent who you think will do the best job for you then the agent will bring the buyer to see the house anyway that is if the buyer actually exists.
Yes, the buyer's are usually made up. I think saying "okay, why list it for 2, 3, 6 months when you have a buyer now who only needs a half hour?" might cull out those who are lying. The listings I was talking about were in the days when it was totally the common thing to be able to list and sell the same property. I wondered about that at the time and was glad with the change to separate representation...fairly new in many areas actually. A few years old in some.
I guess you couldn't list for just a brief period like a day without the broker still having to meet the agency requirements of an actual listing....because a seller does want to be fully covered.
I wouldn't be adverse to doing it because I've seen it work out where someone might say they don't like any other house but that one house that's not listed.....and it works out that the owner considers selling afterall and feels complimented by the process. But it would involve more nowadays in having the two agents, not just one. My current home I had a few people tell me they want to buy it and some remind me every now and then which I respect them for because their request can get lost in the years. A couple are realtors. I do not want to sell yet and when I do my buddy will be my realtor. We'll set a price and parameters and contact these people first.
We were on the other end of this when we bought this house. Inventory of homes large enough for us was very low, and our house in another state was in escrow. Our agent stopped at a house that had been on the market a year before but was taken off after not selling, and told them he had a buyer (me) and also a verbal offer, inside unseen. Two days later after the people thought it over we came in and viewed it, made the written offer and got it for our price.
That's a bit different because it was off the market for a while.
"I have a buyer" is used during the frenzy the day or day after a listing expires.
Unfortunately the agents who overuse this line ruin it for those of us who legitimately DO have a buyer. For example, some buyers I'm currently representing really want to be in a specific neighborhood, and in a home with specific traits. I ran a records check for homes with those traits in the neighborhood and mailed a letter to those homes. Got zero responses (except from a realtor who lived in the neighborhood and was actually quite nice and knew of an upcoming listing, which we've since seen and crossed off the list). When I door-knocked with a one-time showing contract in hand, I got much better responses. So homeowners and expired listings are pretty receptive when they know you're not trying to be deceptive, but this is one of those overused tricks (just like agents who pretend they're interested in a FSBO listing as an "investment property" for themselves) that makes it more difficult for those of us who are still trying to be honest.
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