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Buyers Asking About a Home that Already Sold?

What do you tell them? It’s an opportunity to start a conversation and build value if the caller doesn’t have an agent – but tell them the home’s “sold” status upfront.

NEW YORK – When prospective buyers ask about homes already under contract, agents shouldn’t miss the opportunity to continue the conversation and build value, providing they make sure the caller isn’t working with another Realtor.

Agents should also tell the truth about a home that caught the buyer’s eye, but also offer to do some research to find out if the seller is willing to accept backup offers.

If the buyer left a message, agents should also do research before calling back so they can offer the buyer some alternatives.

Even if the buyer simply wants to confirm that a listing is indeed pending or under contract, the agent can say, “The home you asked about is sold, but I can reach out to the listing agent to find out about any contingencies in place. I can also ask whether there is still an opportunity to tour the home and possibly present a backup offer.”

If potential buyers seem to disappear after an agent shows them a home of interest, the agent probably didn’t sufficiently explain how to navigate today’s complicated market. Agents who show homes to clients and invite them into the office to discuss possible steps and numbers usually fare well because they can guide their clients through the real estate process.

Driveway consultations can serve a similar purpose and ensure that, after a showing, the client understand how an agent can assist them.

Key areas to discuss include an overview of the process, necessary steps to make an offer, current market conditions, and how the agent is different from other real estate professionals.

Source: Inman (07/11/22) Toole, Tom

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https://www.floridarealtors.org/news-media/news-articles/2022/07/buyers-asking-about-home-already-sold