How would you like to pay top dollar for a house nobody else has wanted while it sat on the market for over a year? What’s that? Not really the type of thing you want to do? Well then, let me tell you how to prevent it.
Little story here….A house in my neighborhood had been sitting on the market for well over a year before eventually selling. I had a house around the corner from it listed during that period…..only mine sold much sooner! I ended up showing my listing to the same people who had called that listing agent to see that house. I would ask people how mine compared. They all told me that the other house had some funky floor plan they didn’t like. I don’t mean just 2 or 3 people told me that. Like 10 or so told me. Let’s fast forward to when the buyer of that house goes to sell. Think buyers will have the same opinion?
I noticed the other day that it finally closed. I looked to see who sold it. Guess who? The listing agent was also the buyer’s agent. That tells a whole lot. That lets you know that the buyer was some unrepresented sucker who was just calling listing agents to see properties. They didn’t have somebody working for them to say “WAIT! This house has a funky floor plan and you are going to have a hard time selling it down the road and sure, it seems like a good price compared to similar sized houses, but it isn’t!!”
Now, I am for sure not making a judgement about this agent. I don’t know what all happened. All I know is that when I see a house sell that has been on the market forever, most of the time the listing agent ends up with the buyer too. An agent has to walk a fine line when all the sudden there is a buyer for a house they thought they’d never sell…..and getting both halves of the commission makes it even harder. I think most of the time the agent and the seller come out the best in these deals.
Basically folks, my message is if you are buying, don’t go at it alone, don’t trust the listing agent for advice, don’t rely on zillow. Get yourself a realtor who has been in enough houses, is familiar enough with the market and can recognise the things that will bite you in the rear down the road. The buyers of this house made a bad decision, and the sad thing is that they won’t know that until they need to move again.