What Would You Do? - A Real Estate Question
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What do you do when you find a buyer for a listing that has recently expired?
Agent #1: Since the listing is expired, there is no obligation to the former listing agent. I would approach the owner of the home with my buyer and if he still wanted to sell it, I would list his home and double end the deal.
Agent #2: I would approach the former listing agent, not tell him I had a buyer, find out if he was going to re-list the home and if he wasn’t, then I’d go work with his former client myself.
Agent #3: I would call the owner of the recently expired listing, tell him if he would list with me I’m sure I could find a buyer fast (versus his old agent). He would then be more apt to list with me. The seller would be all the more impressed in my ability to come up with a buyer so quickly. My reputation would receive a boost.
Agent #4: I would contact the former listing agent, tell him I had a buyer for his listing and give him the opportunity to approach his former client to re-list the home.
What do you think about these answers? Which approach do you think most agents take? Which one do you think is ethical? Is there another scenario that should have been added to the mix? Hit the comments link below to give us your answers.
Agent #1: Since the listing is expired, there is no obligation to the former listing agent. I would approach the owner of the home with my buyer and if he still wanted to sell it, I would list his home and double end the deal.Agent #2: I would approach the former listing agent, not tell him I had a buyer, find out if he was going to re-list the home and if he wasn’t, then I’d go work with his former client myself.
Agent #3: I would call the owner of the recently expired listing, tell him if he would list with me I’m sure I could find a buyer fast (versus his old agent). He would then be more apt to list with me. The seller would be all the more impressed in my ability to come up with a buyer so quickly. My reputation would receive a boost.
Agent #4: I would contact the former listing agent, tell him I had a buyer for his listing and give him the opportunity to approach his former client to re-list the home.
What do you think about these answers? Which approach do you think most agents take? Which one do you think is ethical? Is there another scenario that should have been added to the mix? Hit the comments link below to give us your answers.
posted by Unknown at 11:37 AM
3 Comments:
Agent #4: I would contact the former listing agent, tell him I had a buyer for his listing and give him the opportunity to approach his former client to re-list the home.
Do unto to others as you'd like them to do unto you....
I agree that it is only fair to contact the recent listing agent especially if they work for the same company! If there from another company they are fair game, but that all depends on the relationship you have with the other agent. Treat everyone the way you would want to be treated.
I agree with previous posters. I would also attempt the Agent #4 approach for the same reasons already stated. If no response I would move on to agent #1 approach.
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