Buyers Waiting – So Aren’t You The Buyer’s Agent?

Posted on May 4, 2007 by | 0 Comments

So often in the local paper we see advertisements where estate agents proclaim that they have “buyers waiting”. One Ringwood real estate agency even makes these claims sound genuine by giving a detailed description of the young couple and what they want.

The reader is invited to assume that the young couple have approached the estate agent, and will not look at any properties unless they are accompanied by their helpful friend.

So the vendor, having seen the ad realises that her house is exactly what the young couple want. Wonderful, the young couple will get home they want, the vendor will have sold her home, and the helpful estate agent will undoubtedly receive a fee for assisting the young couple.

But wait, this is the bizarre world of real estate. The young couple who engaged the estate agent to find their home don’t pay a cent. No, the estate agent wants the vendor to pay $10,000 to “buy” the young couple from him. Lots of estate agents do this, but does anyone want to try and justify it?

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