The Stressful Housing Market For Home Buyers
The Stressful Housing Market For Home Buyers
The Stressful Housing Market For Home Buyers
The Stressful Housing Market For Home Buyers
The housing market is stressful for home buyers. Is it challenging all over the United States?
Meet members of the National Association of Exclusive Buyer Agents who share what is happening in their markets in June 2023
David Kent is the president and owner of the Real Buyer’s Agent in South Carolina. Mike Crowley is the broker and owner of Spokane Buyers in Washington state. Rich Harty is the broker and owner of Harty Realty Group in Chicago. Lora Cusumano is the broker and owner of Lux House Hunters Exclusive Buyer Agents in New York and Florida. Andi DeFelice is the owner and broker of Exclusive Buyers Realty in Savannah Georgia and Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage serving home buyers in the Greater Washington D.C. & Baltimore area
Housing inventory is low and buyer demand is high all over the U.S. What are exclusive buyer agents doing to help home buyers?
7:19 Strategies for home buyers
8:30 How to make your offer appealing to the seller while protecting the buyer
9:17 Find out what matters to the sellerForm relationships with listing agents and have clear communication with your exclusive buyer's agent
9:42 What else besides the price matters to the seller?
10:56 Have a long game plan
11:33 Get a commitment from the lender that is more than the pre-approval This can give your buyer a competitive edge
12:30The home inspection as leverageOffer to pay the first $1000 of anything found in the home inspectionStill give the option to void the contract but this gives the seller reassurance
14:07 64 offers on a property in the DC area and an investor client was buying a property
14:48 Buying as-is is common in ChicagoStill inspecting and going through due diligence Tell the seller that you won’t renegotiate the offer and take the house. If there is something serious, you can bring it to the seller
15:30 Appraisal gap - if the appraisal doesn't match the offer price, the buyer will cover that gap
16:10 How do you get buyers up to speed?It’s not as much fun to buy a house right nowThis is a tough process right now.
16:41 Mike says it’s not fun but he’s with you through it all
17:04 A little more inventory is trickling in, it’s brutal but it’s going to be okay
18:15 The hardest thing is navigating the group of buyers
18:44 Hope buyers have the ability to stay where they are. Renewable lease and this takes the pressure off of the home search.If they have a deadline, it becomes more challenging.
19:42 Love letters to the SellerWashington state doesn’t approve of these letters
21:23 AI program wrote a love letter and it was beautiful
22:43 Agent remarks say no love letters as part of your offerNo escalation clause in offers in Savannah or New York
22:35 I like the escalation clause-I like it because it protects the buyer's money Mike Crowley and Rich Harty use the escalation clauses effectively
24:30 Look up listing agents and check their pattern of behavior how much are people escalating above, gleam information and use it as a buyer strategy
25:07 David Kent No escalation clauses in South Carolina No love letters Put your best offer out there
25:35 Andi strategy Give the seller an option to consider the buyer's offer with a financial incentive. Reach out to an agent and area.
26:39 Coming soon is no longer legal in Washington State and Georgia The idea of coming soon is the house is exposed to the overall market Coming soon circumvents this and the larger firms are sharing in-house and giving their agents the option to see it when other agents cannot
28:10 Mike describes the end of coming soon in Washington state The listing brokerage wouldn’t share the coming soon with any agent outside of their brokerage
29:06 Is dual agency allowed in your state In the DC, MD, and Virginia area DC and VA allow dual agency Maryland allows the designated agency Lora explains what dual agency is
30:10 gives an example of what can happen at an open house in a dual-agency state
31:01 New York has designated agency and Lora explains how this works Since the listing brokerage allows one of its agents to represent the buyer in the transaction. Dual agency allows one agent to handle not just the price but all negotiations back and forth between the seller and buyer.
32:15 Mike Crowley says its the way one agent can keep the total commission They are not fully representing the buyer and this is an advantage to the seller
33:33 Victoria reads the Northern Virginia Realtor Association description of the dual agent
34:19 Lora says buyers want the upper edge and have access to Realtor and Zillow.com And some buyers know that the listing agent may choose to work with them because they will keep both sides of the commission.
35:15 Will buyers have remorse about compromising on representation?
We will not share your information with anyone....
Thank you for requesting more information...
We value and protect your privacy and will never share your contact information with anyone else.
How can we help?
If the exclusive buyer agents at HomeBuyer Brokerage can assist you in any way, please don't hesitate to contact us at info@homebuyerbrokerage.com.
The Stressful Housing Market For Home Buyers
The housing market is stressful for home buyers. Is it challenging all over the United States?
Meet members of the National Association of Exclusive Buyer Agents who share what is happening in their markets in June 2023
David Kent is the president and owner of the Real Buyer’s Agent in South Carolina. Mike Crowley is the broker and owner of Spokane Buyers in Washington state. Rich Harty is the broker and owner of Harty Realty Group in Chicago. Lora Cusumano is the broker and owner of Lux House Hunters Exclusive Buyer Agents in New York and Florida. Andi DeFelice is the owner and broker of Exclusive Buyers Realty in Savannah Georgia and Victoria Ray Henderson is the owner and broker of HomeBuyer Brokerage serving home buyers in the Greater Washington D.C. & Baltimore area
Housing inventory is low and buyer demand is high all over the U.S. What are exclusive buyer agents doing to help home buyers?
7:19 Strategies for home buyers
8:30 How to make your offer appealing to the seller while protecting the buyer
9:17 Find out what matters to the sellerForm relationships with listing agents and have clear communication with your exclusive buyer's agent
9:42 What else besides the price matters to the seller?
10:56 Have a long game plan
11:33 Get a commitment from the lender that is more than the pre-approval This can give your buyer a competitive edge
12:30The home inspection as leverageOffer to pay the first $1000 of anything found in the home inspectionStill give the option to void the contract but this gives the seller reassurance
14:07 64 offers on a property in the DC area and an investor client was buying a property
14:48 Buying as-is is common in ChicagoStill inspecting and going through due diligence Tell the seller that you won’t renegotiate the offer and take the house. If there is something serious, you can bring it to the seller
15:30 Appraisal gap - if the appraisal doesn't match the offer price, the buyer will cover that gap
16:10 How do you get buyers up to speed?It’s not as much fun to buy a house right nowThis is a tough process right now.
16:41 Mike says it’s not fun but he’s with you through it all
17:04 A little more inventory is trickling in, it’s brutal but it’s going to be okay
18:15 The hardest thing is navigating the group of buyers
18:44 Hope buyers have the ability to stay where they are. Renewable lease and this takes the pressure off of the home search.If they have a deadline, it becomes more challenging.
19:42 Love letters to the SellerWashington state doesn’t approve of these letters
21:23 AI program wrote a love letter and it was beautiful
22:43 Agent remarks say no love letters as part of your offerNo escalation clause in offers in Savannah or New York
22:35 I like the escalation clause-I like it because it protects the buyer's money Mike Crowley and Rich Harty use the escalation clauses effectively
24:30 Look up listing agents and check their pattern of behavior how much are people escalating above, gleam information and use it as a buyer strategy
25:07 David Kent No escalation clauses in South Carolina No love letters Put your best offer out there
25:35 Andi strategy Give the seller an option to consider the buyer's offer with a financial incentive. Reach out to an agent and area.
26:39 Coming soon is no longer legal in Washington State and Georgia The idea of coming soon is the house is exposed to the overall market Coming soon circumvents this and the larger firms are sharing in-house and giving their agents the option to see it when other agents cannot
28:10 Mike describes the end of coming soon in Washington state The listing brokerage wouldn’t share the coming soon with any agent outside of their brokerage
29:06 Is dual agency allowed in your state In the DC, MD, and Virginia area DC and VA allow dual agency Maryland allows the designated agency Lora explains what dual agency is
30:10 gives an example of what can happen at an open house in a dual-agency state
31:01 New York has designated agency and Lora explains how this works Since the listing brokerage allows one of its agents to represent the buyer in the transaction. Dual agency allows one agent to handle not just the price but all negotiations back and forth between the seller and buyer.
32:15 Mike Crowley says its the way one agent can keep the total commission They are not fully representing the buyer and this is an advantage to the seller
33:33 Victoria reads the Northern Virginia Realtor Association description of the dual agent
34:19 Lora says buyers want the upper edge and have access to Realtor and Zillow.com And some buyers know that the listing agent may choose to work with them because they will keep both sides of the commission.
35:15 Will buyers have remorse about compromising on representation?
Request More Information
We will not share your information with anyone....
Thank you for requesting more information...
We value and protect your privacy and will never share your contact information with anyone else.
How can we help?
The exclusive buyer agents at HomeBuyer Brokerage specialize in serving home buyers. Please reach out with questions at info@homebuyerbrokerage.com.
