Scott Godzyk “The listing agents job is to first, get the sale closed through monitoring the buyers progress through the buyer agent. It is not unheard of for the listing agent to call the loan officer direct for answers. NEXT, it is the listing agents job to update the seller.”Right on target – and – re-blog!What happens when no one is paying attention? Give up… Well a Home Buyer decided it would be better to apply with 3 different banks for their mortgage. Before anyone says it is good to shop around, yes it is, but perhaps to get pre qualified, not to apply with 3 banks AFTER you signed your purchase agreement.
You see, here in the Manchester NH area, there was a home seller that listed their home. The newer agent was ecstatic to list their first home after joining this big company. Soon after there was an offer. They told the buyer to accept it and it was soon under contract. No problem there you say.
Soon after the inspection took place and the seller started packing. Time went on and nothing, no news must be good news the seller thought. They approached the closing date. The seller started moving things. The closing day came and went, no closing….
Nearly another month went on and nothing. The seller who was also buying a home, got hit with an ultimatum. Close on their new home or their purchase is canceled. The purchase was in deed canceled and that is how I got introduced to them. People who I sold a home to were best friends with these people and knew something was wrong. Could I help?
Some quick research and this is what I found. “No one was watching the store per say.” There was no pre-approval or even a pre qual letter with the offer. There was no appraisal and therefore no commitment. As this seller had their own agent and the buyer had their own agent, I could not interfere, but could tell the seller to call each and demand answers.
First, the buyer agent stated “they were not sure” the buyer was taking car eof their own mortgage financing.” What? This is the job of a buyer agent after all to assist the buyer with their mortgage as well as all aspects of buying the home. The shocker was the buyer, made formal application with 3 different banks. They wanted the best rate and lowest points. They missed the point that all banks are similar in interest rates and closing costs, it is service what sets them apart. The buyer thought, “they had time” to shop.
A call to the listing agent and the seller soon found out the listing agent had simply “been waiting” for the buyer to get their mortgage and be notified when closing was. IT DOES NOT WORK THAT WAY I thought. The listing agents job is to first, get the sale closed through monitoring the buyers progress through the buyer agent. It is not unheard of for the listing agent to call the loan officer direct for answers. NEXT, it is the listing agents job to update the seller.
In a made for TV moment. Fast forward to today and the offer should never have even been accepted without the buyer being pre qualifed at least. No one guided anyone and having a buyer who did not know what they were doing and a seller who was selling ther first home using an agent who was also selling ther first home lead to 3 plus wasted months and no sale, no purchase and a lost deposit on the home the seller was buying.
The seller took the home off the market and is re-grouping. They asked me to meet them and their friends who I sold a home to. We had a nice meeting, group therapy session and the seller left with some real answers. Next year they will try this again although with a home to unpack, if the Mrs has their way, I will hear from them soon.
The moral of the story is to not rush into hiring just any agent. That we all know that there is a difference from agent to agent. That a Buyer or Seller should not choose just any agent, choose the BEST agent for the job. The key to this story is feelings to matter in real estate and need to be kept in mind in ones actions.
My philosophy is simple, provide more personal and professional service to guide my clients through each step of the buying or selling process. All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. Those that hire me, find a dedication like no other.
If you read this far, an update to my blog. I got a few comments “that my blog can scare the public”. I had a consumer reach out to me this morning and I wrote about it in my blog today. “I am not sure I want to sell – It seems Scary?To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.
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About the Authors – Updated 2017
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