Is Your Buyer-Agent Naive?
By Jim Palmer Jr.

If you are a buyer in this crazy market, then listen up!  Times are tough for buyers now, and it takes some savvy to know how to have an edge over other buyers.  I know you can reasonably expect your broker to have expertise you lack concerning the buying process, but that might be easier said than done if you don’t choose your broker carefully. 

In a recent case, a buyer’s broker became irate and yelled at a listing broker because a seller had not accepted their offer.  “Why didn’t you counter our offer and give us the chance to compete?”  The  buyer’s broker somehow thought the seller had some obligation to nudge his buyer higher in price, not realizing that he should have urged the buyer to step up with their best offer right out of the gate.  The time is past for playing such naïve games! 
Some brokers list a time frame of when they will review offers, but that practice may not always be in the best interest of the seller.  Some sellers don’t want too many choices, just one that works.  The listing broker in the above case calmly explained that the seller did not want to incite a vicious bidding war and didn’t want to wait for other buyers to step up.  They had taken the other offer simply because it was in front of them and satisfied their needs.  They didn’t want to work hard to get that buyer to step up or to wait for more buyers to compete.  That discouraged buyer should have stepped up without being prompted.  Sometimes it’s more about timing or other factors and not just about greed that drives a seller’s needs! 

In another example, a broker wrote a short expiration date on an offer, thinking that would force the seller to comply with the buyer’s urgent desire to get a quick response.  Did that broker think the seller had to respond to their offer in the time frame they had given just because they said so? Did the seller have to respond to offers in the order received?  NO!   I can’t think of any reason why any seller would think a short expiration date on an offer would be an advantage to them.  How did that help the buyer compete?   Buyer’s brokers, stop doing that!  Give the seller plenty of time to consider your offer, assuming your buyer has already put their best offer forward.