Tip for "Drive-Around Unrepresented Buyers"
Late last week another agent in my office got a call on a listing of hers from an Unrepresented Buyer, a buyer not working with a Seattle real estate agent. My colleague asked me to meet with the buyer since she (rightly) prefers to represent her Seller 100% and not act as a Dual Agent, representing both the Seller and the Buyer and not providing either with their best representation.
I met with the Buyer and his wife at the house, they looked the house over, while I accompanied them answering their questions. They also asked to see the house that was listed across the street, and since I had the listing information about that house, we went to view that one as well.
Afterwards we talked in the driveway of the first house, mostly me answering their questions about real estate in general, the Seattle real estate market, and mortgages. These Buyers are originally from another country, English is not their first language, and their prior experience in real estate in their original country was very different from how real estate is practiced here.
They were driving around the nearby Seattle neighborhoods, calling the phone numbers on the signs for the houses they liked, and asking the Seattle listing agent to show them the house. Because they did not understand the real estate process here, with Buyer's Agents working for the buyers, representing their best interests, and by working with them understanding their wants and needs to better advise the buyers, they were missing out on a very important resource available to them, one that they pay for in the price of the home.
This is a particularly important resource for buyers who are not knowledgeable about how the real estate process works. These buyers did not realize that they were putting themselves at a what could be a serious disadvantage in their home search, and negotiation which could cost them thousands of dollars.
I encouraged them to choose a Seattle Real Estate Agent from those they had met, and have that Seattle Realtor work for them. They may or may not choose me, but I asked them to please choose someone to help them.
When you have not chosen an agent to work for you, you become an "Unrepresented Buyer" which unless you have done your homework, have experience, have the time, and knowledge can put you at a serious disadvantage and cost you thousands of dollars.
Please don't be an "Unrepresented Buyer" unless you can effectively represent yourself.