Repeat and move up buyes 7 -8
I have to show investors more properties because they are looking for extreme discounts to value. My investors may reject perfectly good houses that meet all of their criteria because the price is firm at or near market value. An owner occupant purchaser often buys a home if it meets all of their criteria and is priced correctly, or offers a small discount ot market value. The investor often has no time frame (unless in a 1031 exchange) Owner occupants want a new place to live in.
I do not hesitate to take a buyer who is on the fence about listing their home. The consumer does not want to be homeless above all. They need to feel that they will be able to find a replacement if they sell their home... otherwise they may not be 100% committed to selling. Getting into contract is something else. Some of my clients have been able to move, then sell their old home. Rarely does a buyer of mine get into a contingent sale contract unless they are in escrow already or have the financial capacity to waive the contingency if a sale of the old house does not occur.
As far as prefering to wait until a buyer has a contract on their home before I take them out looking for a home,.....I think it depends on a few things. If they are local or out of area. If they are local, I have an idea of how long it will take for them to sell their home. So, if they should find a home that they want to put an offer in, I will have a better idea of when a realistic closing date would be. If they are out of area, I have to rely on statistics and other agents. What is the market like? Seller/Buyers, not moving......To answer the question, I will usually take them no matter what, to give them an idea of how much home they would be getting for their money here in St. Marys, GA. If they find something they feel they can't pass up, we would put in an offer with it contingient on the sale of their home. It's much harder to get an offer accepted that way, however; there have been times where everything thing works out and both homes close when they are suppose to! The best cases are when the selling and buying are in the same area. When you can communicate directly with an agent, it is much easier for a "win-win" situation for everyone. I feel that the more that I communicate with everyone, the smoother the transaction goes. Everyone is in the loop, and then there aren't any last minute surprises.....
I am not a huge fan of contingent offers, so generally if the buyer needs to sell a home prior to buying another one, we get that property sold first and do a rentback if necessary during the purchase of the new house.
But with the internet and the ability to have scores of photos plus virtual tours of the subject property available I rarely show property. My buyers understand their time is very valuable and want me to provide them with access to ALL the listings. I use a proprietary listing web site which allows my client access to ALL the listings in the MLS. Remember, most "aggregated web sites" post listings from cooperating MLS systems but those systems have an "opt-out" clause by the brokers allowing them to exclude their listing from being posted to the internet! (Why they do this is worth another post!) So you may not be seeing ALL the listings. My buyers have access to the former and love getting out and looking at homes by themselves. I also give them "market snapshots" of properties they are interested plus other data as to schools, demographics,etc. When they have narrowed down the field they actually go OUT and look at their "A" list. They whittle it down further and then call me to get them into the house and write the offer. My skills are in negotiating the best price,terms,concessions,closing date and advise them as to market conditions, area,etc.