Usually ?the moral of the story? comes at the end of an article. But, in this case, I can?t help myself! So, please allow me some latitude with the conventional rules of morality tales.
The moral of this story; when wanting to buy a home select and commit to ONE professional Real Estate Agent whom you trust to represent you and your best interests. Treat him or her with respect, and be honest.
OK. The full story.
Recently we had a home listed for sale. Within the span of just a few days, we had two Real Estate Agents show the home, and inform us that their buyers were interested in submitting offers.
As any Real Estate Agent who?s worth their salt would do, I pitted (ethically/legally) the two Buyer?s Agents against one another, to entice a bidding war. And, it worked!
We got a higher than list price offer from the second buyer. Their Agent told us this was because I?d made them aware of the first Buyer?s Agent telling me they wanted to make an offer (as well).
A few days later I made an interesting discovery from talking with the buyers, and the two Agents. There really weren?t two buyers. It was the same party working with two different Real Estate Agents!
What the buyers had done was solicit the services of two different Real Estate Agents to show them the one listing (ours).
In the process, the buyers lied to both Agents, on two accounts. Their first lie was telling the Agents that they weren?t working with any other Agents. Their second lie was telling both Agents that I had shown them the house initially, and they wanted to go back through for a second showing. Could these buyers have been any more disrespectful of people in our profession?!?!?!?!
Apparently the buyers thought they were better off trying multiple Agents, without committing to a particular one. A common misconception I?ve found with consumers over the years. Big mistake, which really cost them.
The unintentional consequences of their unethical and disrespectful conduct was the creation of a scenario where they were competing against themselves for the same house, without even knowing it.
They thought they were smarter than the Real Estate Agents. They thought they?d be benefit from trying to do all of their own maneuvering. They thought there wasn?t any value in selecting, and committing to one Real Estate Agent to represent their best interests. They thought they could get away with their dishonest behavior. They were wrong!
What they don?t know, and may never know, is that they ended up paying probably $10,000 more than they needed to. If only they had worked with a Real Estate Agent, and not against three of us.
I say these buyers got what they deserved!!!!!!!!!
Your thoughts?
FYI?..?Buyer?s Agents? won?t cost you anything! Home sellers pay end up paying both Seller?s, and Buyer?s Real Estate Agent commissions when homes are sold. Check out our ?FREE Home Buying Services? brochure here.
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