A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.
In having dealt with hundreds of potential homebuyers, I have only ever had ONE that said they did not wish to see conditionally sold homes that met their home search criteria in addition to home listings that were clearly Active on the market. Only one!
What's the issue? Agents not showing conditionally sold homes hurts both my clients AND their clients.
I clearly understand that as a showing agent under a representation agreement that I need to (should) know going in to the showing with my clients whether or not there is an accepted offer on a home — and I do. However, all my clients value seeing the home to better gauge home value in that neighbourhood. Agents do ask on every single showing request whether or not the property listing is marked Active or Under Contract.
BUT, it is really frustrating to home sellers trying to sell their home when an agent books a home to view then, when receiving confirmation of the appointment and the disclosure that the home is subject to a sale with UNFULFILLED conditions, that they immediately cancel the appointment. I have to wonder, do they have their clients' written instructions to not show conditionally sold homes? Or, don't they want to "waste their own time" as some agents have said to me.
Today, I received a appointment request that stated if the home is already conditionally sold to just decline the viewing request. Sorry bud, that's not in my (or your) clients' best interests. With today's buyer's market and tougher mortgage rules, quite a few conditional sales are collapsing due to being declined mortgage approvals. A guestimate is maybe 5 to 10% — perhaps more...
If you are looking at homes to purchase, I encourage you to specifically tell your agent that conditionally sold homes are worth viewing (they aren't SOLD, so they are still available). It's not wasting YOUR time.
If your agent refuses, I suggest that that may be reasonable enough grounds to terminate your representation agreement with them because of this breach of their duties. Agents don't work for free, and they aren't cheap — so demand full representation.