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Real Estate Fight Club

6
Sep 2021

What Do You Do If You Find Out Your Buyer Is Also Working With Another Agent? - EP 102

September 6, 2021

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are going to Duke it out over this question - “What happens when your buyer is working with other agents or another agent?” How would you handle the situation? This is an interesting one!

 

Episode Highlights: 

  • If a buyer is working with other agents, then it depends on the client too, because we deal with a lot of investors sometimes in certain situations, it kind of makes sense for them to work with other agents, says Jenn.
  • There is something in buyers’ line of thought and logic where working with multiple agents makes sense.
  • Monica asks, if an agent had been the listing agent and they had just gone into an open house, would you press for the money? Monica has never chased after a buyer for money, even under a contract.
  • If Jenn has a buyer, then her goal is to get them under contract.
  • You can do all the right things and still get jacked around it. People think two agents are better than one, says Monica.
  • If we are not telling our clients what we are doing to help them, they assume we are doing nothing, says Jenn.
  • If you do things right and properly inform clients about your techniques regardless of the outcome, you have a client for life, says Monica.
  • Tie-breaker Adi Kol says working with multiple agents creates many issues, especially in such a distinct seller’s market where there is so much noise to begin with because of this technological time that we live in. 
  • The most expensive or the most important real estate or assets we have are time and money.
  • Adi says that if you are out there going and seeing properties with five different agents, he will not spend the same amount of time and energy because he knows that risk is inherent in the process.

 

3 Key Points:

  1. If you are not doing a hard-nosed buyer consultation, you are laying out the relationship, the commitments, the goals, the process, and all of it.
  2. Jenn suggests it is important that you do not go directly to the builder. If you get upset, you need to look at yourself as an agent and say - Am I doing everything possible for my clients?
  3. Going with multiple agents does not really benefit you because if you find one agent with your best interest at heart and a serious professional agent, they will get it done for you, says Adi.

Resources Mentioned:

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