THE PERILS OF BEING AN UNREPRESENTED BUYER

Mostly we focus on how people shouldn’t be an unrepresented seller. We stress the importance of listing a home with a trusted REALTOR who will put their home on the Multiple Listing Service, look out for their best interest and get them the highest price.

However, there is also danger in being an unrepresented buyer. It is dangerous to blindly enter into a contract with a For Sale By Owner, especially if the buyer is from out of the area and unfamiliar with market conditions. This example will illustrate that point.

There was a house that Geordie was asked to do a Market Analysis for. The owners were set on selling it themselves but wanted a price opinion from a professional. We both went out to meet the sellers and take a look at their house. The home was on some land in a desirable area of Leavenworth. The land was excellent but the home had some functional obsolescence. It was dated with a small kitchen, had rooms in odd parts of the home and the general flow of the home was a bit broken.

After looking at recent sales in the area of homes with similar square footage and land size, Geordie presented his price opinion to the sellers. They were shocked, believing their home to be worth at least $100,000 more than Geordie’s price.

They went ahead and put their home on the market For Sale By Owner at the inflated price. After three weeks, they got a full price cash offer from an unrepresented buyer. We don’t know the full details of the transaction, or how much negotiating took place.

However, the buyers walked into the transaction blind. They did not have an agent to educate them about current market conditions and the future resale possibilities. The buyers did not have a professional negotiator helping them get the best price for the property. Furthermore, since the buyers paid cash, a bank appraisal was not done on the house to prevent them from over paying.

The final result is the buyers overpaid for the property. In the event that they have to resell the home quickly, they will have less equity than they thought. This type of costly mistake can be avoided by using a REALTOR to help with the purchasing process, ensuring that you will get fair price for the property you are buying.

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Allyson and Geordie Romer

Leavenworth real estate agents - Allyson and Geordie Romer

For over a decade, Allyson and Geordie have been serving clients in the Leavenworth-area real estate market. Together, they work tirelessly to stay on top of the regional market and present the most relevant opportunities to their clientele.

When not in the office, they can be found exploring the endless recreation opportunities of the area in all of its seasons.

 

Testimonials

 

Geordie provided excellent real estate representation! We appreciated his detailed knowledge of the market, his up front and honest approach, and his negotiation skills.
As reviewed on Zillow  – 

- Laura Anderson

 

 

As “west siders” looking for a getaway near Leavenworth, Geordie provided insight … his knowledge of design features important in a “snowy winter wonderland” was appreciated. Thanks Geordie!
As reviewed on Zillow  –
 

- Jean Stern

 

 

Geordie made this somewhat complicated transition easier for us…going above and beyond to help us work through issues that came up during the sale of our parents home. We appreciated his knowledge, attentiveness to details and his willing spirit.
Our family is grateful for Geordie!
As reviewed on Zillow  – 

- Terry Foster

 

 

Geordie was great in every way. We have been looking in the Leavenworth area for some time, and Geordie was absolutely the best for local knowledge, history and depth on neighborhoods, developments and the local market trends. He was very quick to respond (even when he was on his vacation) and worked very diligently to get all of our questions answered in a very timely fashion. We would recommend him highly to anyone looking to buy or sell a home. Very friendly, and helped us navigate all of the local options before we made an offer on the property that we purchased. Thank you, Geordie!

As reviewed on Zillow  – 

- Ryan Olsen

 

 

It was such a pleasure to work with Geordie and his wife, Allyson on our cabin purchase. They showed us a variety of locations, listened to what we wanted and helped us find the perfect match. Everything was smooth and not stressful, just relaxed and easy. We would definitely recommend Geordie and use him again if the need arises!

As reviewed on Zillow  – 

- Cammie Schlosser

 

Moving to Leavenworth?

Are you looking for a cabin or a condo in Leavenworth that your family can use as a home base when climbing, skiing or hiking around Leavenworth or Lake Wenatchee?

Maybe you rent a house here and have decided to stay, surprised how a summer of rafting somehow turned into seven years.

Maybe it’s time to escape the hustle of the big city (and its rain) and move to Leavenworth with its four seasons.

Maybe you bought a condo years ago, don’t seem to use as much, and it’s time to sell.

Whatever your motivation, we are here to help. If you are buying a home, the best place to start is with our Homebuyer’s Guide to Leavenworth.