Price, Terms and Your Agent.

said on December 4th, 2015 filed under: Buyer Information, First Time Buyers, Seller Information


Everyone knows that the real estate market is hot right now. When you find a house and decide to make an offer, you are likely going to be competing.

When you are competing it is easy to think that the only criteria that will matter to a seller, and win you the house, are price and terms.  That is generally true, but what usually matters most is the seller and sellers agent’s perception of the “entire offer package” and more specifically: which buyer/offer will most likely get all the way to the closing table.

Sellers should be able to count on their agent to help them assess the quality of every offer. Besides price and terms (dates and standard contingencies), an agent will share with a seller what they know about the buyers prequalifications, motivations and interest level. Additionally the sellers agent will share what they know about, and their experiences with, the buyer’s agent and the relationship the buyer seems to have (or not have!) with their agent.  Every little thing can make a difference and influence a buyers ability to close.  Accepting “the wrong” offer can be costly for the seller if their property has to go back on the market.  They can end up getting less and most certainly will incur additional worry and stress if they have to start over.

Your agent, and the relationship you have  with them, can be a huge factor. I know that:

  • if you have a relationship with your agent you are more likely to lean on and trust them if problems arise and have to be worked out (as they often do), rather than just jump ship
  • a competent agent is more likely to be certain and convince me that you are qualified, able to purchase and will use a reputable lender.
  • an offer delivered from an established agent, known to close deals regularly, gives your offer weight.
  • an established agent will likely be more pleasant and reliable for me to work with throughout the transaction.
  • Buyers that are working with an agent they have confidence and trust in, are usually taking the house search (and any offer they make) most seriously.

A buyer who has “hired” an established agent versus a discount agent, who they clearly have no relationship with, says volumes in a multiple bidding situation.

You do get what you pay for. If you’re losing out in multiple bids make sure it is not because of this oversight. You should hire the best, it doesn’t cost you anything and may save you a lot. A lot of time. And a lot of stress. More importantly it could be the edge that gets you the house.

Don’t forget it is price, terms and your agent. A good buyer’s agent can be better for everybody, especially YOU. (I’m available :))


posted by Lisa Johnson

Comments are closed.

Contact Lisa

Web Site Design By Real Estate Tomato Log in Tomato Powered