Being There for the Buyer

Basic to every real estate sale is the issue of representation. The concept of proper representation can be very subjective. For instance, when a seller garners top dollar, they naturally report they were well-represented.  Interestingly, sellers who get top dollar early on often wonder if their property was under-valued. Truth is, well priced property should sell quickly. Sellers normally solicit the services of an agent they feel has their finger squarely on the pulse of the local market. After all, it’s difficult for an out-of-area agent to understand the nuances of the market without knowing inventory and the neighborhoods. Not to mention that most participate with a different Multiple Listing System.

Geographic Expertise

The idea of geographic expertise is a widely accepted and fairly straight forward and yet, when it comes to buyer representation, buyers seem to apply much more latitude when choosing an agent. In truth, the same considerations should apply. Our license extends us the privilege of working statewide. East Hawaii is as large as the rest of the islands combined so we at Team Nakanishi feel fairly competent regarding any local neighborhood. We have sold property all over the Big Island. Selling on another island would require weeks of intense research. So while it’s possible to represent a buyer on an off-island purchase, it’s probably not in their best interest. I applaud those who do so successfully but here’s the rub.

I’m constantly asked to show my listings to their buyer by an out-of-area agent. At first blush, it would seem the right thing to do, right? Don’t forget, the issue is representation. I represent the seller. When a buyer is represented by an agent, they should be present for showings. It’s not unlike an attorney showing up in court with their client. Agents have a fiduciary duty to those they represent. If an agent can’t be present, the buyer should be referred to an agent who can properly assist them. Of course, this isn’t the only kind of goofy showing requests we get. Agents with expired licenses (i.e., no license) ask to go alone, buyers want to pick up keys; you name it, I’ve probably heard it.

Informed Buyers Are Happy Buyers

As difficult as it is to say no to any showing, buyers not properly represented at showings may be opening the door to future headaches and unintended consequences. Informed buyers are happy buyers. Even in the age of the information superhighway, all real estate is local. Asking an area expert to assist you on your journey is really the best way to arrive at a successful conclusion to your next real estate transaction!