Submitting an offer on a property is an exhilarating and nerve-wracking experience. Especially if what’s at stake is the home of your dreams. The heartbreak of losing the home to a “better offer” can be overwhelming. Once the disappointment subsides, you’re probably curious about what that it sold for. So, you go online, and lo and behold, it sold for the exact price you offered! This discovery is the cherry on top of an already spoiled dessert, and you’re understandably confused. Why didn’t you get keys to your dream abode?
Many terms make a competitive offer, but what is often overlooked isn’t an offer term at all. It’s your agent’s reputation in the industry and amongst their peers and the listing agent’s desire to work with them. Many homebuyers and sellers find an agent online and go with whoever is first available to answer questions or show them a home. Sometimes, they’re connected to a “friend of a friend” or a close family member who holds a license. Whether interviewing multiple agents or just going with a connection, you want to make sure that person is the “real deal.” Why is this so important?
For buyers, your agent’s reputation shines (or doesn’t) in multiple-offer situations. If your agent is well-known, liked and has a track record of getting deals to the closing table and being pleasant to work with, listing agents will be more inclined to pull the deal together, which means a more favorable outcome for you. A listing agent has a strong hold over the sellers, and they could encourage them to accept another offer of similar strength if it came down to working with an agent they’ve had a positive working experience with versus one they’ve had a negative or no experience working with. Your agent’s negotiation skills are a game changer in multiple offer situations. Not only does their standing in the community precede them giving them an edge at the negotiation table, they also recognize how important this home is to their clients and they’ll know when and how counter if necessary -not backing down without a fight for the keys to your dream home.
An agent with a stellar reputation is also well-connected and has access to a whole host of off-market properties. Listing agents keep these treasures very close to their chests, offering the information only to other agents they would want to work with or help out. If your agent isn’t one of them, you’re missing out on a lot of potential dream homes before they even hit the public market! For sellers, this connectedness means a broader pool of buyers, which leads to increased visibility, faster sales, and potentially higher offers.
So, how do you find an agent and determine their reputation? Start by checking online reviews to see what other clients and agents say about them. Positive reviews and testimonials from clients and industry professionals can strongly indicate a realtor’s reputation. Look for realtors who have received awards, accolades, or recognition from industry organizations or brokerages. These honors often reflect a realtor’s commitment to professionalism, ethical conduct, and positive relationships with fellow agents. Then, observe them. In showings, how well do other agents seem to know them, and how are they received? Do other agents greet them by name or, even better, with a hug? Or do they get passed by unnoticed? How do you feel around them? Do you genuinely like them and trust them? Are they aggressive enough to instill confidence without being too pushy?
Real estate transactions require collaboration, and the process can quickly become tumultuous without a strong sense of teamwork. Reputable agents will work very hard to avoid this to meet their client’s goals, even if it means bypassing one offer to work with another agent they trust. They also recognize that the journey is not simply about offers and deals; it’s also about being someone with the skills and reputation to navigate the complexities of the market. A top-notch agent is an expert guide who can unlock hidden opportunities simply because they’ve taken the time to establish themselves and their credibility amongst their community and fellow industry professionals. After all, it’s not just about finding a house – it’s about finding the right person to help you make it a home.
Written by Hayley Westhoff