A Surprising Realization - Some Sellers Just GET IT!

Some sellers these days are taking a bit of a hit on their equity. Savvy sellers who are also purchasing realize that they’ll recoup that lost equity when they make a smart purchase on the other side. Many have, as they say, given away the farm because they HAVE to move; others are simply motivated by the low prices and the incredibly low interest rates on their purchase.

When it comes to selling a Charlotte home, I have to say that I am quite proud of some incredibly smart sellers of mine! More and more, buyers believe that they can get the ‘best’ deal by going through the listing agent to make what is, oftentimes, the largest purchase they’ll ever make in their lives. Evidently they have an unyielding trust in complete strangers--with regards to sellers and their agent, inspector and everyone involved in the transaction.

Here’s the story:

Sellers recently received a ‘low ball’ Offer from a self-represented buyer. The buyer suggested that the price was reduced X% to reflect the fact that they have no agent representation. My sellers explained to them that not only do they already have a Contract with my firm stating that they will pay that X% but, that they refuse to assume the responsibility of this buyer having no representation.

“When we Close on this house, we don’t want to ever look back. This is a liability that we’re not willing to assume, just so the buyer can ‘feel like’ they are getting a great deal. Our home is already a GREAT DEAL! Tell them to get their own representation and bring this Offer back to us then...we’ll seriously consider their Offer at that time. I would never even THINK to buy a home without someone to represent my interests.”

Hmm...I do believe that sellers have not only become savvy with regards to pricing but, they’re wise to buyers who are placing them in a strong position of liability by attempting to save a little cash without having their own real estate agent to represent their best interests. I don’t think that buyers realize how the desire to save a little on a home purchase can put far more of THEIR money in jeopardy than the cost of having their own representation, which by-the-way, is covered by the sellers as per the listing agreement.

Buyers, once again, stop shopping for the listing agents--save yourself time and money and select an agent to work on your behalf to assist you in what is likely the largest purchase you’ve ever made in your life. Don’t risk tens of thousands of dollars just to save a few. It’s simply not worth it.