Don't fall for this one from my industry "I have a buyer"

I hear about this one roughly 3 times a year from clients. The scenario is a home owner or owner of real property has recieved a post card from a Realtor which says, "I have a buyer for your home".

It just ain't so. If they had a buyer, the owner would be getting a phone call. Similar to a bank needing to talk to you about important changes with the account, we Realtors want to talk to you quickly when we have someone interested in buying your home. We don't want to wait for 3 or 5 days on the postal servcie to see if you will call us about our 'interested buyer". When I have a buyer desiring a home not on the market here are a few action steps; a note left on the owners door, a phone call to owner or multiple people in the area to track down the owner, a one time listing agreement for this one buyer, a fully written offer sent to owner.

The listing agreement is important because it defines certain aspects to the transaction. I don't believe it needs to be a formal relationship of agency representation (i.e. seller is represented by any Realtor) but it clarifies some important dates and responsibilities that need clarification.

The post card or letter from a Realtor which says, "I have a buyer for your home" is a technique to get a listing appointment and be the agent for the home owner. If you like working with strangers call them and set up a time to talk. If the postcard got your interest up call your preferred Realtor and learn a little more.