Charleston, SC Posts

head_left_image

Myth 3: I can find all properties for sale on my own

This is a continuation of a series: 10 Common Myths Shared by Homebuyers. See Myth #1 here.

Most properties can be found online. The Internet is a great resource for buyers and of course you can Michele Reneau, Buyer's Agentdrive through neighborhoods you like or look through the paper and home magazines.  BUT there are many properties that are NOT advertised and/or DO NOT have signs.  Many foreclosures in our market do not have signs. I have no idea why, but they don't!  And believe it or not, some sellers request for signs not to be placed in their yard and some neighborhoods do not allow signs. Also, not all agents advertise the best properties in newspapers or magazines because they sell so quickly or they choose not to use those methods.

The MLS updates at midnight which means it can lag real time updates in hot neighborhoods and even worse, hot markets.  A professional real estate agent is networked with other realtors to find out what is coming on the market before it gets there.  Additionally, an agent dedicated to working on your  will check the HOT SHEET for you during the day to see if there is anything coming on the market to get you the edge on property information so you can hear about it before it goes out at midnight on MLS.  That's why it is important to know that your agent is a full time agent that can work on your behalf.  You want an experienced agent that is networked and keeping tabs on what's coming up and going on in the areas you are interested in so you don't miss any HOT properties.

When working with the Charleston Relocation Experts Team, Buyer representation is a FREE service! Call or email Michele Reneau when you ready to have an agent looking out for YOU!

Stay tuned for more myths...

*The series is adapted from the REBAC article published October 2008, 10 Common Myths Shared by First-Time Homebuyers in Today's Buyer's Rep.

 

Subscribe to Charleston SC Posts by Email

Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Realtor®, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina. The Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area Homes for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area.

 

 

Michele Reneau, ABR, GRI, CRS

www.CharlestonRelocationExperts.com

Follow us on Facebook at www.facebook.com/CRETeam

Comment balloon 15 commentsMichele Reneau • November 04 2008 07:44AM

Comments

Michele, good advice!  And remember that many agents are fabulous photographers, and with the help of their photo editing programs, they can make any house look good!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 10 years ago

In our area, I find that some buyers want to find their own home so they can negotiate the commission down without a representative.  Although the commission on a listing is between the listing broker and the seller, the buyer knows that they can in most instances favorably get a concession.  When I come across this in my business I appeal to the buyers that they are limiting their viewing and exposure opportunities.  Are they buying just for investment to get a better deal or are they looking to find a place to call home.  Also working with a buyer rep may or assure that they are negotiating properly on price and not just thinking they are getting a deal.  I have been able to convert the deal hunters to my clients.  Looking for a property on their own usually is limiting and yes, a myth.  Good series you are authoring!

Connie

Posted by Connie Goodrich, CRS ABR (McKinney Realtor)Texas (Keller Williams Realty) almost 10 years ago

Hey great post. Thanks for the advice.

Posted by Brian Belcher, Charlotte Realtor (RE/MAX Metro Realty) almost 10 years ago

Michelle very good blog. While I dont think most of us are in hot markets. I will say bank owned homes are not really advertised and those do move off the shelves quickly.

Posted by Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes (LemonTree Realty) almost 10 years ago

Great series and post!  While finding a home on their own is possible it is like you said.....With a buyer's agent working for them they have a much better chance of being notified of the home much quicker AND they have the advantage of someone on THEIR SIDE!

Posted by Leesa Finley, RED Properties - Raleigh NC Real Estate (RED Properties) almost 10 years ago

Michelle, I was not aware of the actings of the MLS.  I know buyers shouldn't "do it all on their own," but this expands my reasons why.  Good info.

Posted by Larry Bettag, Vice-President of National Production (Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001) almost 10 years ago

Patricia-I happen to be one of those photographers :)

Connie-The problem with this is the listing agents allowing their commission to be negotiated.  We work just as hard if you procure the buyer on your listing or another listing and should be compensated accordingly.  My sellers understand this. If the listing is a hot buy, some other buyer using an agent will be the first to know about it anyway and make an offer.  I've heard of sellers that don't want to accept a lower price because it hurts their ego even if their net is the same (with or without an agent.  Strange I  know, but it has happened.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) almost 10 years ago

Brian-It's our job to educate buyers. Help spread the word. Thanks for stopping by.

Heather-I'm not in a hot market either, but hot properties still come on occasionally.  I had a listing sell in less then 4 days last 2 weeks ago.  I've been getting calls since for backup showings.

Leesa-As a buyer, I would think they would want all the options possible too.

Larry-There's so much to it that buyers do not realize.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) almost 10 years ago

Very well put.  When I get a call from an ad that is in one of the local real estate magazines, I explain to the caller that those ads have to be placed about 3 weeks ahead of publishing time.  If the house was a great buy in a HOT area, it's gone by the time the magazine is printed.

Posted by Pam Simpson, GRI, Broker-Assoc. (Bob Leigh & Assoc., LLC) almost 10 years ago

A buyer may get lucky finding their perfect home but it is what happens after that event that makes a good Realtor a valuable component to a transaction. You can't beat having a great buyers agent in your corner.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) almost 10 years ago

That is a great point you make! Having the assistance of an agent in your home search will not only help you find the best home for you for the best price but she will also be able to negotiate for you to either get the killer price you are looking for or try and get some closing costs paid for.

I certainly think that working with an experienced and proven agent can make all the difference between a good deal and a great deal!

Thanks for sharing, Nicole Weidauer

The Egerer & Weidauer Team, Keller Williams Realty North Seattle

Posted by Nicole Weidauer (Keller Williams Greater Seattle) almost 10 years ago

Michele~ This is a nice post...and a great series! It still amazes me that Buyers think they have to pay me for my services...and some choose not to have an agent because of this mis-information.

As far as finding things on their own...I agree. Working with a full-time agent who is networking all the time can be a true benefit to a buyer. As you mentioned, we often know of properties that are soon-to-be listed but aren't yet in the MLS.

Keep educating girl...it can only help the consumer!

Posted by LaShawn Norden, REALTOR, (321) 377-0157, Your Real Estate Advocate in Central FL (Keller Williams Heritage Realty) almost 10 years ago

Michele,

I love it when a Client does this and then asks to see that property....and I have to break it to them that it is under agreement already........just allow me to send you the properties or subscribe to my site and get the most up to date information.

Posted by Daniel J. Brudnok, REALTOR, SRES, e-PRO,ABR,GREEN,CSP (Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038) almost 10 years ago

Pam-That happens often with my magazine calls on HOT properties.

Bill-Very true! There are so many details buyers cannot possibly know each one of them. That's why we are there...to handle the details.

Nicole-There are so many things to negotiate.  Once I negotiated the seller to buy the buyer's lease out.  They said YES!

LaShawn-Misinformation is poison in this process.  There's a lot of inaccurate info out there.

Dan-Some buyers take a lot more educating before they get it.  

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) almost 10 years ago

Michele,  I enjoyed read your blog.  You provided some valuable reasons why it's necessary for potential homebuyers to obtain representation from a real estate agent when they're shopping for a new home.  Besides, buying a home is usually the most important investment we'll make in our lifetime and it doesn't make sense not to obtain representation froman experienced real estate salesperson.

Posted by Tracy Miller, S. S. Specialist almost 10 years ago

This blog does not allow anonymous comments