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Wednesday, February 3, 2010

Keeping Other Agents "In the Loop"

"Enabling" Non-Committal Buyers?

One of the things that invariably happens in the course of representing a Seller is the Listing agent gets a request from a Buyer's agent to "be kept in the loop."

Translation: 'let me know if someone else is about to buy the home, so my client at least knows about it.'

Some Listing agents will agree to do that, because they figure competition will help their Seller's price.

Other Listing agents decline, because they figure it lets an indecisive Buyer lurk, non-committally, in the background (note to Buyers: waiting until you have competition virtually guarantees that you'll pay more).

Enabling Non-Committal Buyers?

I handle the request on case-by-case basis.

If the agent's client is showing serious interest, and there are three second showings scheduled in the next day, I'll typically share that, to let the Buyer's agent know that time (potentially) is of the essence.

If instead my vibe is that the Buyer's agent (and Buyer) just want to hover, I'll decline.

The only parties I promise to regularly update are . . . my Sellers.

1 comment:

Serottaguy said...

I do think that listing agents sometimes forget that the sellers are their clients. What they want to do with other possible suitors is paramount. Thanks for the gentle reminder, Ross.