Isn’t it Better to go Directly to The Selling Agent to Get the Best Price?

N1406P47003HIsn’t it Better to go Directly to The Selling Agent to Get the Best Price?

The Sales Representative or Broker selling the home you may want to purchase has the greatest form of legal obligation to their clients.  The Listing agent and their Brokerage is expected to fiercely protect the interests of the Client as detailed in their Listing Agreement and do what’s best for them.  They must honour confidentiality and not discuss personal details of the client or their motivation.  The REALTOR® under the Listing Client relationship must disclose material facts that would interest the client.  Every REALTOR® is obliged to offer parties in a real estate transaction honesty, fairness and integrity.  Buyers are incorrect if they think they’ll get the inside scoop from the Selling agent on how little or how great of an offer to make. The Listing agent can give a comparable Market Assessment which is fact based information on homes in the area that have sold in a specific time frame. If personal details are given by the Selling representative, permission should have been granted to them in writing by the Seller with regards to what details are acceptable to share.  

Multiple offers on homes for sale is the trend which is continuing in 2017.  In fact, many more multiple offers are being received in this winter season through York region and beyond than ever as demand is causing shoppers to look for their next home 12 months of the year.  An Accredited Buyer’s Representative Specialist ABR® is accredited and recognized throughout North America and may be the best professional to hire under a Buyer’s Representative Agreement.  Like the Selling Agent under contract the Buyer’s Representative when serving a Buyer as a client under contract along with their Brokerage are expected to fiercely protect the interests of the Client as detailed in their Buyer’s Representative Agreement and do what’s best for them.  They must honour confidentiality and not discuss personal details of the Buyer or their motivation on how much or how little they would be willing to pay unless in writing.  The REALTOR® under the Buyer Client relationship must disclose material facts that would interest to their client that they may uncover from their investigations.

How can you be more competitive in these trying times of short supply?  A few ideas that may help you be the accepted offer might be to have your representative share a story about you on paper or video.  Offer a bank draft deposit of a minimum of 5 per cent of the purchase price with the offer.  Uncover the Seller’s perfect date for closing the sale and use that date.  Make sure research has been done on recent sales of comparable homes in the area so that you price accordingly.  Some Sellers agree to have their home priced lower than market value or high above market value.  The less conditions in the offer, the more attractive that is to the Sellers but speak to the professionals that support you for legal, accounting, financial and contracting and inspection advice.

-written by Connie Power   

Connie Power is a Real Estate Sales Representative ABR® SRES® SRS® and Mentors and Develops New Real Estate Sales Representatives for RE/MAX Hallmark York Group Realty Ltd.,  Brokerage serving York region and beyond.  

EmPOWERing YOU in Real ESTATE, Call Connie today to make an appointment to discuss your next move at (905) 726-0856.

**Not intended to solicit those currently under a real estate contract