Buyers are often perplexed when they attend an open for inspection and are told by the agent that the property is already “under contract”.
Impervious to attempts at public humiliation, agents are often met by buyers displaying mingling feelings of dismay, suspicion and anger.
Buyers should be aware that the agent is working on behalf of the seller and until each and every condition of the contract are met, the contract of sale is conditional. Only a lazy agent or one who was sure that a contract wouldn’t collapse would stop working for the owners and stop showing the property to prospective purchasers.
This happened recently at a Chapel Hill house for sale. The property was under contract. We held an open home, I got abused by one of the buyers in front of dozens of people when they found out that the property was under contract. They even threatened me with the RACQ! I think she meant The REIQ (Real Estate Institute of Queensland).
The contract fell over soon after so we contacted all the buyers to notify them that the Chapel Hill house was again available to buy. Then we sold it a second time and again, the same buyers from the open home missed out.
Had we not have held open for inspections whilst it was under contract we would have been doing the sellers a disservice. Continuing to show the property to other buyers is an insurance against contracts that may be shaky and fall over. It makes good business sense.
So next time you’re at an open home and the agent tells you it’s already ‘under contract’ please don’t look like an educated ignoramus and abuse the real estate agent. If you really want the property or one like it then it may be wiser to notify the agent of your sincere interest in buying should the current contract collapse.
The frequently used calls to action, “Be Quick!” and “Don’t Miss Out”, have never been more pertinent to those wishing to buy a house for sale in Chapel Hill today.