A Bad Real Estate Agent Can Cost You

sebfreyCommentary

A Bad Agent Can Cost You

Many people don’t think much about how a bad real estate agent can cost you, but the truth is, a bad real estate agent can cost you a lot. I’m going to share with you a couple of examples how, and how much. I tend to work with more sellers than buyers – currently I’m running about two-to-one sellers over buyers…but the last two deals I closed, I represented the buyer. As a buyer’s agent, my job is to get the absolute best deal for my client that I possibly can. As part of that, I help my clients with their due diligence, to make sure that they know everything there is to know about the property before they fully commit to buying it. No surprise there, right? The surprise to me is that listing agents often do no due diligence of their own whatsoever. They begin showing the property with absolutely no disclosures available. They expect the buyers will make offers knowing nothing more about the property than what is visible to the naked eye. Amazing! Sometimes, before they’ll take an offer, they will hurriedly get the seller to fill out the bare minimum set of disclosure forms – but often they won’t even do that, not until a price has been agreed upon and the home is under contract. When I am working with the buyer, this is almost always a very costly mistake. The agent is leaving the seller open to re-negotiation of the deal, based on the buyer’s inspection findings. And that’s … Read More