When a Real Estate Broker is Asked: "why Won't you Buy the Property Yourself?"

Real-estate agents are often asked by clients "why won't by the property for yourself if it's such a good deal?" A typical sarcastic answer would be that if a chef would have eaten all the cakes he had baked which appealed to him, quite soon he would not have been able to fit through the door. In other words, real-estate agents' work is negotiating transactions, not participating in such. An agent competing with his own clients will soon find himself in a different business. There's also a limit to the number of transactions the agent will be possible to make, attractive as they may be.



Still, every once in a while, my attention is drawn to a transaction I would be very willing to perform. I admit that in retrospect, I often regret not taking them myself. About a year ago I came across a lovely apartment in the center of the colony, in spite of the fact it was located in a building without an elevator. The seller was determined to sell it for a fair price. We concluded the paperwork and went off to put "for sale" signs on the apartment. As I was carrying a sign to place in the apartment, the woman renting it contacted me, interested in purchasing the apartment. In a few hours she arrived to our office and I started to negotiate the purchase with the owners. After several days the renter decided to purchase the apartment. It was another successful (though small) deal, to the satisfaction of both parties.



Why do I regret not purchasing it? Firstly because I was not determined and didn't act fast enough. Some say that haste is dangerous, but sometimes hesitating is dangerous as well. Did you see a property you liked? The price is fair? Place an offer! Move on with the process! It really doesn't matter if you spend a few thousand dollars more than you expected, since prices are on the rise in Israel Real Estate in the past few years. Even if you would decide in retrospect that the apartment doesn't match your needs, that apartment could have been put up for sale several months later, and it would have achieved 10-20% more than what it was purchased for.



In conclusion, I am very happy that the deal was closed, because it ended in the best interest of the purchaser/renter. Why is that? Because it's important that clients will know that the real-estate agent behind the "for sale" sign is committed to give them the best offer for their money, and to promote it without any personal interest. The real-estate agent is allowed to desire the same property, and it is not impossible for him to purchase it, but if an interested client appears, the agent's commitment to the client cancels his own plans.