An Agent Preview is a real estate agent checking the property on behalf of a client. An agent preview refers to a situation where a real estate agent visits a property without bringing a buyer. This allows the agent to assess and gather information. It also gives the agent a chance to ask questions that can assist in finding the right buyer for the home.
Sellers expect showings with buyers physically present. However, an agent preview can be a helpful tool. It is highly unusual for agents to bring their buyers during an agent preview. Below are 5 reasons a real estate agent will use an agent preview.
- Learning an area. Agents don’t know every part of town because the market is constantly changing. Agents that are just starting out don’t have a good sense of where pricing is, or why things are priced the way they are. These agents need experience, but at the same time, they have much more time on their hands than an experienced real estate agent because those agents are out selling houses. The newer agents will schedule agent previews so they can get a better idea of the area in which they want to work in the future.
- Extremely busy buyers. Some buyers ask agents to preview every property before they see it to save time. It isn’t an easy thing for the buyers to visualize themselves living in a new home. Some buyers work all day, and in the shorter months of a year, there’s no way to really see the landscaping of the house in the dark. An agent doing a preview can easily go during the day and snap a few pics of the yard, and if it doesn’t meet their criteria, it won’t make it to an actual showing.
- Out of town buyers. Out of town buyers are special in their own way. No one wants to buy a house sight unseen. This is a perfect situation for an agent preview! It’s especially difficult for out of town buyers to understand the different nuances of different communities. An agent preview can help the agent narrow down the showings and match out of town buyers with homes that meet their criteria.
- Understanding dramatic differences in pricing. Sometimes, agents see houses come to the market more than $100,000 higher or lower than what a house usually sells for in that particular neighborhood. What’s the reason? Has there been a complete remodel? Is the house located next to something undesirable? These factors usually don’t show themselves in the pictures. That’s when it’s best to go out and physically look at the house.
- They have a new listing coming soon in the neighborhood. A real estate agent has a new listing coming to market in the same area and they want to get a good understanding of the competition. An agent preview allows the agent to help their seller make better pricing decisions. This is a net benefit because if the new property that comes to market sells, you can have a pretty good idea that your house is listed at too high of a price to attract an offer.
An agent preview is a good thing for sellers. It means that an agent has taken an interest in your house. It may not lead to you selling your home that day, but it does go a long way in getting your house sold. Agents always keep properties in mind for their current buyers and even past buyers who are looking to move. In closing, you should look at an agent preview as a good thing; it’s not as good as a showing, but it is far better than no activity at all on your property.