Real estate horror stories, although frequently embellished for the sake of a dramatic story, are rampant. It gives true professionals a bad reputation and I have a love-hate relationship with hearing the latest.
The Latest Real Estate Horror Story
Here’s the most recent… Let’s jump right into it. In short, the buyer decides to go directly to the sellers’ agent for a condo. At some point before closing, the buyer decides to actually read the condo docs which clearly state “no pets greater than 25lbs”. They have a 50lb dog.
You don’t know what You don’t know?
Now the homebuyer wants out, but they’ve already passed the point of being able to get out.
- They were not made aware of the pet restriction
- They were not made aware of contract dates or reminded of approaching deadlines, THEN they find me to ask for advice (which I am not qualified to give because now it is a legal matter).
Real Estate Horror Story Unmasked
This is a perfect example of why it is SO important for buyers to have their own representation.
- The sellers’ agent’s job is not to make sure you understand what you are buying.
- It is not the sellers’ agent’s job to make sure you don’t miss any key dates.
- The sellers’ agent won’t help determine fair market value based on current sales of like properties.
The list goes on.
The Horror Story Plot Thickens
Contrary to what many believe, going directly to the listing agent doesn’t necessarily save the seller money. The TOTAL fee is determined between seller and listing agent before the home even hits the market. In some cases, the listing agent may agree to a reduced fee if they procure their own buyer, but at what cost to you as a buyer?
You may help save the seller money, but you are likely costing yourself money (without having an experienced negotiator on your side for the purchase AND the inspections) or setting yourself up for big risk and liability because you don’t fully understand the terms of your contract.
Had this buyer been working with their own agent, the agent would not have even shown them this condo because it wouldn’t work for their furbaby. Similar stories exist for not showing condos that have monthly fees that exceed their preferred budget, not permitting rentals when the agent knows that’s the intent, etc.
Regardless of which state you are in, I am more than happy to connect you with a full-time experienced agent that has the qualifications, designations, certifications that will be best for your particular situation. I can help connect you with someone who will have YOUR best interest at heart. I can help find someone who provides service instead of considering themselves a salesperson.
You deserve representation. Especially since IT’S FREE! Standard disclaimer, some Brokers charge a fee to represent a buyer. I do not. You would know this ahead of time because you’d have to agree or sign the agreement.