Saturday, April 12, 2014

Follow Up: Why A Good Sarasota Buyer's Agent is a Must

This week I was contacted by home buyers to show a property they had found online.

It turned out the buyers had put an put in an offer on the house they wanted me to show them, with another agent. The buyers did not have a representation agreement with the other agent, and an offer is only an offer if it is not accepted by both the seller and buyer.

 They felt their first agent did not represent their interests, and they were correct.

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Key West style home for sale in Englewood $254,900

The buyers and the seller came within $900 of making a deal.  Then, according to the buyers, nothing happened, which is why they contacted me.

I went over the comparable sales and told the buyers that the price the seller counter-offered was actually a pretty good deal.  $900 represents a difference of about $5 per month in mortgage payment.  The buyers agreed it would not be worth losing the home over $5 per month.

Unfortunately, their previous agent did not provide comparable sales, so the buyers were making decisions on virtually no information.  The buyers did end up losing the home to someone else.

An experienced buyer's agent is invaluable in a competitive real estate market, like Sarasota.


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