In Episode 47 of the Toe-2-Toe Podcast, hosts Jenn Murtland and Monica Weakley duke it out over whether a buyer’s agent should show houses for backup. Hear why Jenn thinks listing agents should show for backup offers and why Monica thinks buyer’s agents should be careful with their time.
- Should a buyer’s agent show houses for backup?
- Jenn feels that listing agents should have 2-3 backup offers on their houses.
- Having backup offers helps listing agents negotiate inspections.
- Backup offers help sellers to feel that they're accepting the best offer out there.
- Backup offers give a sense of urgency to the buyers.
- Monica doesn't have time to show people homes that are already pending.
- If Monica feels that a pending house would have been perfect for a client, she will take them to that house and encourage them to put up a backup.
- Showing homes that are under contract is good practice for new agents.
- If you're a new agent you need to be previewing property all the time and this is a good way to do that.
- If you're the buyer's agent and you feel like you're wasting your time, then don't go.
- Some buyers need to bump their heads a few times before they start listening to you.
- Jenn thinks there should be a different status in the MLS. It's a cultural norm for people not to show houses that are under contract.
- A ton of deals fall through because of inspections.
- Remember the importance of communicating with other agents. We all have the same goal.
- Jenn reiterates that you should show for backup.
- Monica feels from the buyer's side, you should watch your time.
- Agent Derek Tye weighs in as today’s tiebreaker.
- Derek feels you should show for backup.
- There are buyers out there with buyer's remorse.
- If you want to build comps, you can help educate your buyer by showing them pending properties.
3 Key Points:
- Listing agents benefit from having 2-3 backup offers.
- Backup offers can be a useful negotiation tool during the inspection process.
- If you’re a buyer’s agent and a client wants to see a house that is already pending, you have the option to protect your time.