Chances are, you don't want to make life difficult for anyone but many homebuyers do so towards their real estate agent without even knowing it. Now, this blog post is not to blame as a homebuyer or make them feel guilty but if you're planning on buying a home this year these are some things you should know in order to make the transition smooth and the transaction efficient. Buying a home can be a long process and homebuyers can make it even longer by these simple five mistakes. Here are some things we've experienced in the past that make most real estate agents simply want to pull their hair out.
#1. Negotiating without your agent.
I can't tell you how many times I've come into the office only to figure out that by home buyer is consulting the listing agent or worse yet, the actual seller without any mediator or agent involved. This is the job of the real estate agent; to keep things legal, aboveboard and in writing. Communication between the buyer and seller when there are real estate agents involved can get very messy and frustrating. Use your real estate agent for all communication between the buyer and the seller. The buyers agent will consult with the listing agent which in turn will consult with the seller. Any communication that is not done between the real estate agents can backfire for instance: I once had a homebuyer discuss with the seller a lower asking price that the seller agreed to, but because it was not in writing, the seller reneged on the offer and it caused a huge blowup.
#2. Making ridiculous lowball offers.
I once had a real estate buyer that literally wanted to make an offer on just about every home they found. The problem is they wanted to offer about 30% lower than the asking price just to see if anything stuck. If the seller agreed to the price, then the buyer would go back to decide if they really wanted the home or not. This is extremely frustrating to everyone involved (except for perhaps the homebuyer). Lowball offers can be a waste of time for everyone involved and if the seller actually accepts one of the offers, the homebuyer could risk losing the earnest money deposit if they decide not to go with the home for no good reason.
Read more: 4 Super Smart Home Buyer Strategies
#3. Going overkill on the showings.
Yes, I understand that you want to view the home that you're planning on buying a couple times at least, but if you're calling every day to show the property with your architect, your home designer or just some friends or family, it can be very frustrating, not only to the agent but to the homeowner as well, especially if the property is still occupied. I understand that visiting a vacant home is not as big of deal but if I, as your agent, are spending several hours every single day viewing the same property, it can be a huge waste of time and it's difficult to work on any other transaction or even your own.
#4. Sticking with an agent for months and then going elsewhere.
This is probably one of the most frustrating things that a buyers agent has to deal with. Yes, it is part of the job but as with any job, if you spend months trying to sell a product to someone only to have them go somewhere else to actually purchase it in the end, it can be extremely frustrating. Buyers agents only get paid once the property closes and all of that time, money, gas and effort used to show properties is all for nothing if the buyers agent decides to go with another agent to actually purchase the whole. While I don't require buyers agent contracts, it simply good etiquette to stick with your buyers agent through to the end.
Read more: Do I Have to Pay My Buyers Agent?
#5. Multiple mind changes.
Yes, everyone changes their mind from time to time but if you're not sure about buying the home, it may not be the best time. If you really don't know what you're looking for, have no idea of your price range and are extremely wishy-washy when it comes to the home itself, specifics and search criteria, it can be very difficult for an agent to find you the right home. Understand what you're looking for before contacting a real estate agent so that you are laser focused and getting exactly what you want.
Related: Key Questions all Buyers Should Ask at an Open House
I love working with all of my buyers and of course every transaction is different. Understanding what a buyers agent goes through ahead of time may make the process easier for everyone involved. Ready to get started? Contact me today. I'll be honest, straightforward, and help you find the perfect home at the right price in Portland.