Saturday, February 13, 2016

5 X-tra Effort Buyer Agent Wins!

Buyer_SellerWe all know that in most cases having a Buyer's Agent costs you nothing. In fact, in my over 10 years of helping clients purchase homes, only once has a client had to contribute towards a commission. I would expect that most Agents could say the same thing, so I don't find this to be a fact that separates me from the crowd. I decided to review my past Buyer clients successes to find a few that showed the extra effort that I put forth when needed. Here are the                                                                                                                                                                                                                                                                                                                                                 Top 5 from the last two years.
  1. Using Agent Relationships: I was helping some repeat clients search for house for quite a while. There needs were specific and they new we would have more luck in central and western Massachusetts finding something within their budget. We made several trips with no luck, but I kept in touch with many of the Realtors we met along the way. Finally, I got a call one day from one of these Realtors that said they had a home that might fit coming on the market soon. We set up a time and had an offer accepted before it ever hit the MLS! 
  2. Referral Before Relocation: This couple wanted to relocate to Massachusetts to be closer to family. They were having trouble selling their home in New Jersey and were about to let their second Listing Agent go for lack of results. I called a couple of Keller Williams agents in her area to try and find someone that could get the job done. Within two weeks they had their house under agreement and we were able to get an offer accepted on a beautifully renovated home with a sales contingency. 
  3. The Elusive Non-MLS FSBO! That's right a non-MLS FSBO. We were looking for the right house and finding nothing suitable with the low inventory. As I usually do, I will go back through homes that didn't sell and came off of the market after the listing contract has expired. I found a home that was being sold as a "For Sale by Owner" before coming off of the market. They fell in love with it and we were able to have an offer accepted. It was twice the work, because the seller didn't have a listing agent to prepare her for the process, but we got it done and everyone was happy!
  4. Same Day Sale/Purchase Closings: These are by far the most stressful because in most cases the clients are using the proceeds from the sale to make the purchase. If anything goes wrong with the sale, it will affect the purchase. I have had 4 of these in the last two years and can tell you that Sellers are reluctant to accept an offer with a sale contingency. In two of these cases, not only was I able to negotiate a sale contingency, but both for significantly under asking price. All four were completed successfully with  a closing on their sale that followed an hour or so later with a closing on their purchase. 
  5. Beating the lease timeline: I worked with this client to keep an eye on the market and try to time a purchase that could close at the end of his lease. We were in great shape and ready to go but did not expect the number of multiple offer situations that we encountered. It seemed like every house we put an offer in on was going for $10,000 - $20,000 over asking. We finally found one that had been on the market for a while, it was a bit over priced so we were able to get an offer accepted for less than asking. We were tight on the timeline but if everything went well, we had some time to spare. Then the home inspector found an issue with the electrical panel that was a pretty severe safety hazard. The seller wasn't willing to negotiate a solution so we walked away.  He had come to the realization that he would have to lease another year and try again then. I took a quick look on the MLS and saw a similar house in the same neighborhood that came on that day. It was a bit more money but was in much better shape. We drove over, put in an offer and had it accepted. We were able to go from offer to close in just 21 days thanks to some great teamwork with the lender. He was able to move into the house the weekend before his lease was up. 
Believe me when I tell you that no sale is without it's obstacles. It is why I put so much into the details and preparation. I know from experience that you are better off having ducks in the row that you will never need than to need them and not have them there. Contact The Giles Team  today and start writing your success story!

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