Choosing the right realtor is one of the most important things you’re going to do when it comes time to sell your home. An unfortunate fact is that many people spend as much time thinking about a realtor to choose, as they do pouring a cup of coffee.

Having been a realtor for over 20 years, I have seen many things.  Recently I had a situation occur that is worthy of mention.

The story centers around a realtor we met who was a great guy and an honest person. However, he wound up costing his client a lot of money for the simple reason that he was not educated enough on the Vancouver real estate marketplace. This realtor had a home listed for $899,000, and we had a buyer who was looking for a property in this particular area.

Our buyer had been in several multiple-offer situations and lost out. This time, they really did not want to miss out and were fully prepared for another bidding war situation.  We called the listing agent on the Monday to view this property, and to our surprise, the realtor let us in right away!  We had a look at the home and then called the realtor and asked if we could write an offer that night, fully expecting that offers would not be looked at until later in the week.  It’s also worth note that the market was still a strong seller’s market at this time and it was unusual that someone would look at an offer right away, but they did.

So, we had no competition!  We were able to negotiate about $20,000 off of the selling price and we wrote an offer with subject conditions!  We had five days to remove our subjects, and did not have to remove them until the weekend. The day after our offer was accepted we began getting calls from this realtor 2 to 3 times a day, asking if our buyer was going to be removing subjects. The realtor was not hoping our buyer would remove subjects, but was hoping they wouldn’t!

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The likely reason was that he was getting inundated with phone calls from other realtors wanting to show his property to other potential buyers. He must have realized he could have sold the home for a lot more money if he had not let the first interested buyer through, and let them write an offer the first day the home was on the market! Our buyer did remove their subjects on the Saturday and paid $875,000 this home that was listed at $899,900.  Our buyer was prepared to pay up to a million dollars for this home if they were in a multiple-offer situation, which they were fully expecting to happen.

Because the realtor wasn’t really up to speed on how things were in the marketplace, he cost his seller over $100,000!  Interestingly enough, his seller would probably never know this! They would have no way of knowing.  In fact, they probably went and told all their friends what a great job their realtor did because he got the home sold the first day on the market! We actually felt bad for this seller, but our clients were delighted! We do not want this to happen to you when the time comes for you to sell, so take some time to choose the right realtor!

Buying or Selling a home in the Greater Vancouver Area contact Jamie Hooper and his team at | Vancouver Real Estate