Renovators vs. flippers and seller agent helping buyer (standard, for sale, rental)
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We viewed a property for sale right at our limit price. Upon exiting here comes another interested buyer and my agent and I chatted with them. During the conversation he mentioned three groups of buyers.
1. renovator
2. flipper
3. I didn't catch the other one
With all your experiences what is the difference between a renovator and a flipper?
(the guy implied he was not looking for a rental but whether that is accurate not sure)
This looker gave me the impression, maybe wrongly, that I could not out offer them. We lost a nice one back in the summer to another offer that was the same amount as our offer.
Can a seller agent influence which buyer gets the house leaving me and my buyer agent left out "IF" the owner of the house doesn't really care whether it's a cash offer or a conventional loan? If so then we may never get one in our price range due to the "competition" we are trying to out bid (offer)
From our agent we got "what do you think" after under 20 minutes in the house. They may not do multiple viewings.
Thanks.
Last edited by howard555; 12-16-2021 at 10:48 AM..
If you are an agent maybe you have represented quite a few buyers and you can share your opinions from experiences on the difference between a renovator and a flipper.
If you are an agent maybe you have represented quite a few buyers and you can share your opinions from experiences on the difference between a renovator and a flipper.
Dunno. Maybe the renovator plans to fix up and rent the house vs. the flipper who's reslling? Ask your agent who said it.
Tomato Tomato. I imagine he's trying to make some kind of distinction between the kinds of people who buy fixer-uppers. Might be about whether it's an owner/occupant or a resale investment.... or maybe just judging the size of the checkbook. There's no firm definition on this Howard, the only person who can really say for sure what he means is the agent who said it.
Yes, the seller's agent can have influence with the seller if he/she has an opinion about which offer is stronger/better.... assuming the seller cares what his agent thinks.
Can a seller agent influence which buyer gets the house leaving me and my buyer agent left out "IF" the owner of the house doesn't really care whether it's a cash offer or a conventional loan? If so then we may never get one in our price range due to the "competition" we are trying to out bid (offer)
.
Huh? What owner doesn't really care if the offer is cash or a loan? Cash is king.
Can a seller agent influence which buyer gets the house leaving me and my buyer agent left out "IF" the owner of the house doesn't really care whether it's a cash offer or a conventional loan? If so then we may never get one in our price range due to the "competition" we are trying to out bid (offer)
The seller's agent will do and say anything to get the property sold quickly at the best price, including influencing the seller in ways that further the agent's agenda.
As for talking to other buyers that you meet at the property, don't believe anything they say. They are just trying to psych you out so you'll go away and leave them with the best shot at buying the property.
You've been at this long enough. If you want the house, make your offer. If you miss that one, like the crosstown bus, there'll be another one along any minute.
Most homes that have been done have been flipped - think cosmetic lipstick on a pig type stuff, and a lot of the time they don’t even care about the aesthetic of the house. Renovators / rehabber are the ones who will take the time and money to redo the guts of the home and hold their work to a high standard.
The seller's agent will do and say anything to get the property sold quickly at the best price, including influencing the seller in ways that further the agent's agenda.
Important reminder! It is the SELLER who hires the seller's agent to sell the property, usually directing them to do this quickly and to get the best price.
These agendas are not in conflict!
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