Monday, April 20, 2009

What should you not do in a Buyer's Market.

I was reading an article in a trade journal telling real estate agents how to survive in a buyer's market. The interesting thing is that the article was directed at seller's agents only, as though there is no one representing the buyer. One of their main suggestions was to find out the buyer's motivation for buying and use it against them. The other was to relearn negotiating skills. What a concept. When representing buyers, I have always known that buyers should never disclose their motivation to the seller's agent and I have always known that negotiating aggressively is the best way to get a deal done. Other agents apparently didn't use these skills and now are realizing that they need professional skills in order to do what they are paid to do. So which would you rather have? An agent who represents the other party or someone who is going to represent you, exclusively, throughout the entire process, and who already knows how best how to negotiate for and represent you. Seems like an easy choice. When I represent a buyer or a seller, I make sure that I represent one party at a time.

Negotiating skills are extremely important in this market. It is not in the best interest of a buyer to call the seller's agent because that agent can't advocate directly for the buyer. Call someone who promises to represent your interests. Call me.