There is a new trend among real estate agents. And it’s not good. There are a growing number of Realtors “representing” home buyers writing offers when the agent hasn’t viewed the home. In a multiple offer situation, how can your Realtor guide you as to which price to offer if they haven’t seen the home? Isn’t that what a Realtor is paid for; what are buyer’s agent’s duties?
Open houses are a highly effective way to get large quantities of potential home buyers in a home during a short period of time. At Harb and Co. we prefer to have a broker’s open house followed by Saturday and Sunday public open houses. Our logic is that local Realtors can preview our listing and then send their clients to one of our open houses.
It is customary when a real estate agent visits a home that they leave a business card. When we receive offers, one of the first things we will note is whether the agent has seen the home. The seller may accept an offer when a real estate agent hasn’t viewed the home. But this information is worth knowing. Multiple offers are a competition of sorts and offered price is not always the deciding factor. Most Los Angeles home sellers want a buyer who will close without further negotiations. The home may not appraise, there may be issues with the home inspection.
Although the Los Angeles real estate market has stabilized, some homes continue to sell in multiple offers. A serious home buyer deserves every advantage.