for the property. But he didn’t need to, because the seller accepted the offer he made.
The second buyer never found out the property was for sale until it had been sold. Even worse, the seller never realized the mistake. Bottom line: The seller lost $50,000 because of his agent’s incompetence. While stories like this don’t happen every day, they happen more often than you’d think. It’s a very real risk you take when you hire an agent who doesn’t have a proven marketing plan. Had a sign simply been on the property, it definitely would’ve attracted more interest, and possibly even started a bidding war, driving up the price. At $50,000 below market price, the listing would have been bid and counter-bid several times, possibly even up to fair market value.
Here’s a similar story.
In this case, a seller hired an agent whose incompetence cost her $25,000. Her agent completely flubbed a “perfect offer.” The buyer submitted an offer at full price for her home, no strings attached.
Her agent dropped the ball and let a little problem—one
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