The Changing World of Sacramento Real Estate for Buyers
The changing world of Sacramento real estate for buyers tends to baffle many buyers. That’s because many buyers do not understand the real estate business. They think they do but they do not know how agents operate. On top of that, many agents work differently. Some might work on a salary under supervision. Others are like the Wild, Wild West, and might not even be a Realtor nor subscribe to the Code of Ethics. We enjoy basic real estate practices, but not every agent is trained, either. Further, some buyers think they can work with every buyer’s agent out there, and others don’t want to work with any buyer’s agent because they think the listing agent will represent them, nope, wrong. Many listing agents refuse dual agency.
My phone was fairly active yesterday fielding calls from buyers. Because of the changing world of Sacramento Real Estate for buyers, I make sure we are all on the same page. When a buyer calls and asks us to show them the home, I make it very clear that they cannot hire another agent. If they plan to hire an agent to write the offer, then they need to ask that agent to show them the home. If that agent can’t do it, they need to ask that agent to find them an associate to show the listing.
I sometimes get the guys who ask me if the seller will, say, take an offer with a 30% discount. I just stare at my phone. As though I can’t believe those words are coming from the other side of our connection. I repeat the list price. Over and over until they stop asking me to guess what the seller will take. Because I don’t know and, if I did, I wouldn’t say anyway. Just stop asking that question, please. Especially when the home has been listed less than one day, for crying out loud.
Long gone are the days in the changing world of Sacramento real estate for buyers that a listing agent shows the home. In fact, in most instances, the listing agent is not the open house agent. The open house host is typically a buyer’s agent, ready, willing and able to represent the buyer and write an offer. Buyer’s agents hold open houses to find buyers in the following manner: 1) to buy that property or 2) to buy another property. Our first choice is that the buyer purchase the home that is open, of course.
Buyer’s agents work with buyers. Listing agents work with sellers. Every so often you will find an agent who swings both ways and tries to wear two hats, but more and more agents are specializing. In 10 years or so from now, I doubt you’ll find many agents left in the business who represent both parties. The main reason to work with both buyers and sellers is because agents don’t have enough of either type to work with. They need to make more money, so they try working both sides of the street. But when an agent specializes, that agent tends to become highly efficient and successful.
I tell buyers straight up if one of our agents shows them the home, that particular agent will represent them. That means the showing agent will be the buyer’s own agent. If they don’t want that kind of relationship — and it is an option — then they need to find an agent. Because agents don’t show property without compensation. Agents show homes because they plan to represent the buyer. Since some of us work strictly with sellers, buyers need to find an agent. It can be an agent from the Elizabeth Weintraub Team or it can be an agent at another company. But find their own agent they must.