The recent entry into our market of discount brokers is a wonderful development! Sellers using these services have become the best, new source of bargains for our buyer clients. The agents and brokers that seem to be attracted to the discount business model are not proving to be the most adept or most experienced. This is great news for our buyers. We have been able to score some ‘home runs’ in negotiated contracts closed or in escrow. The files we have reviewed show an offer, counter-offer pattern that indicates a deficiency in market knowledge and negotiating skill. Remember, when you are represented as a Buyer by our firm, we are under no obligation to protect the Seller. We don’t expect this opportunity to continue long term. Sellers will eventually revert to better, more experienced representation. But for now, our Buyer reps will tend to show clients these listings extensively. With a little extra effort, we believe that sales prices 7% to 10% below fair market value are possible for our buyer clients.
If you are listing your home with us, we will also be asking you to sign the Exclusive Buyer Representation agreement at that time as well. Normally, this is not done until after your home is under contract, however, we want to be in a position to take advantage quickly of any properties which come on the market with a possible advantage for us. Most sellers that are poorly represented don't know that they are poorly represented. That advantage could save you thousands as our buyer client.
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