Beware The Phantom Buyer
You’re on the market for sale, you haven’t sold yet, you know that your selling agreement with your agent is about to expire and guess what… So does your agent!
Could this have anything to do with the sudden interest your agent miraculously starts to show in you and your property and the sudden arrival of…the phantom buyer?
If you are on the market at the moment keep an eye out for this tactic. If you are about to come on the market you’re now one step ahead of your agent. If you have recently sold file this away for your next move!
You are in the last week or so of your listing agreement and suddenly an interested buyer appears on the scene. You think to yourself gee that was just in time but suddenly the “buyer” starts stalling for time, you get the line… They cannot 100% commit until the sale on their place goes through or, their money is stuck in a term deposit and they can’t touch it for a few more weeks or, they have been suddenly called away they will buy it as soon as they get back they are definitely interested and will buy…. Blah blah blah.
All these excuses leave you wondering who is actually stalling for time the “buyer” or the agent?
Agents are prepared to use this technique in order to delay the inevitable, you taking your business elsewhere. This is especially true in cases where the agent has done little, or nothing, to achieve a sale and or where the level of service to date has been dismal to say the least and the agent knows their time is up.
Some agents even go so far as to lead you to believe that you need to sign another agreement so that they can continue to deal with the “buyer” and complete the sale. If I had a dollar for every time a vendor re-signed an agency agreement under these circumstances and suddenly the buyer fell through….
Don’t fall for this trick. There are avenues available to you should this scenario present itself. Handled correctly you can still change agents and ensure that if indeed this “buyer” does exist you can still sell to them and have no fear of being hit up for two lots of commission… one from the old agent and one from the new agent.
What we do… Think of us as you would of anti-virus software you install on your computer to detect and eliminate a virus before it causes damage. We help home sellers to detect and eliminate issues which are typically caused when agents (who have their own agenda) give poor or misleading advice.
Unfortunately, there is a growing number of people who contact us when a problem has already occurred… remember you install anti-virus software on your computer to avoid getting a virus, so please contact us first so you can avoid problems with your sale.
We will always tell you in plain English what effect any advice from an agent will have on your sale and whether its good advice (in your best interest) or it’s going to cause you a problem in which case we will make alternative suggestions for you to consider.
PLEASE NOTE: We DO NOT pass your details onto anyone else, we do not on sell your email address or phone number to marketing companies or any such like or real estate agents. Your personal details go no further.
More Selling Tips...
Price Range Selling
A New Way Of Selling
Presentation or Desperation?
The Silent Victims
Using 2 Or More Agents
Getting The Buyer To Pay Their Best Price
Playing With The Price