In-Office Transactions: Are they Good for Both Buyers and Sellers?
CAMERON WARD
Every Tuesday morning, my team meets for an hour to discuss a variety of topics affecting our business for the week. The most beneficial part of our meeting is when our agents discuss their upcoming listings. This is a chance for our buyers to have early access to new listings. In today's market, this is a HUGE opportunity for buyers, but also sellers. Our team has a collaborative, client-focused approach to selling real estate. We can bring buyers and sellers together within our office that might otherwise not be part of a transaction.
When agents in my office assist a buyer and seller on the same transaction, we use a form of agency called Transaction Brokerage that most effectively, transparently, and ethically serves and protects those clients. All confidential information, motivations, etc., are kept private by agents involved in the transaction. I believe this creates a collaborative, win-win result.
But does an in-office transaction leave money on the table? NO! In a market that is currently seeing more and more multiple offer scenarios, you might assume receiving multiple offers is the way to get the most money for your seller. However, the truth is that getting a qualified buyer to make a strong offer before the house is even listed creates the opportunity for that qualified buyer and a seller to negotiate a variety of other terms besides just the price. Multiple offer scenarios can occasionally push sellers to agree to timeframes or other terms that they otherwise wouldn't be willing to accept.
When I meet with a seller for the first time, I focus on asking them what their goals are. Only asking a seller about how much they want to sell for is missing a huge piece of the puzzle—focusing on goals is much more important. Closing date, personal property, and other additional terms are crucial elements of selling. In-office transactions allow agents to better assist their sellers in accomplishing all of the seller's goals regarding their home sales.
The market is moving fast—if you're looking to buy or sell this summer, get in touch with an agent at The Alms Group to see if we can connect you with a qualified buyer or a great new listing.
