I helped a Buyer buy a house and they were really happy with my service that they wanted to use me to buy again. Sadly when they wanted to buy I was very close to my due date of having my baby so I couldn't help them.
They then went with another REALTOR recommended to them by their friend. Due to the fact that they trust me they still seeked my advice for the homes they were interested in buying.
The first home they asked me about was too good to be true! It was priced well below market value and been on the market for a long time. Buyers often get attracted to these types of homes because they feel like they are "getting a deal". Their REALTOR at that time didn't do any homework and told them that they should buy it because it was such a good deal. I did some homework and told them not to buy. The garage of the house was build without permit and the worst part is, half of it was built on the neighbors land!
The 2nd home they asked me to look into, it was in a residential area next to a corner store. Once again priced below market value! This time the REALTOR told them the only reason the Seller is selling so low is because they bought already and need to move! And that there is great potential with that lot and could easily be rezoned to commercial. I just want to remind everyone..... if something is too good to be true, it usually is. The REALTOR than told them that there is another buyer interested and they should buy the house subject free! Couple things here:
1. it was a old house you WANT to do an inspection.
2. One wall of the house was almost touching the corner store, not appealing hard resale. Imagine opening a open and staring at a wall.....
3. Rezoning possibility is quite small (especially in the area they bought) Just because it's next to a commercial lot doesn't mean that lot can be commercial. Look around, there is usually a corner store and that is the ONLY business in the neighborhood.
They were able to find a good buy after but were very tempted by the "good deals" that they thought they were getting!
What did I charge them for saving them from buying bad properties? Nothing! Oh they did treat me to dimsum after. I believe in long term business relationships and providing my clients the best service I can!
I later got more referral business from these clients when their family and friends wanted to buy. They referred me for my honesty and knowledge of Real Estate.