Advice Needed! Regarding our realtor...... (Charlestown: relocation, real estate, broker)

[miakelly]

We listed our house using a broker provided under my husband's relocation package. She seemed very nice, knowledgeable and we listed the house at the price she recommended. We believed it was a reasonable price.

The first day it was listed, someone wanted to come see the house. Our broker told us that we were NOT allowed to accept offers that included contingencies based upon the buyer selling their home first. She said our relocation company did not allow that. We believed her, as she was the broker that the relo company uses and she is a relocation specialist with her office.

Therefore, the first people did NOT even come to see the house because they couldn't make an offer without the contingency of selling their house.

Another couple came to see the house Monday, loved it and said they would make an offer Tuesday. I ASSUMED the broker informed them we couldn't accept contingencies. Well she DIDN'T inform them until tuesday, right before they were going to write up the offer. Therefore, they decided not to write an offer as they also have a house to sell.

At this point, my husband and I were getting frustrated thinking that it is going to be pretty hard to sell our house because most people will have a house to sell and will need to write that contingency in the contract.

So, we took it upon ourselves to contact the relo company to let them know that we could have possibly had two contingent offers and if there was any way that we could accept with a contingency.

They said that we CAN accept offers with contingencies!!! Our broker gave the wrong information to TWO prospective buyers that we know of. That is NOT what we need in this market! My husband has to start his job by late August and we need to be in Florida by then.

Ugghhh.....what on earth should we do? We are so upset with our broker right now. Can anyone please advise on the best strategy to move forward??? Thank you to anyone that can offer any help.

[NeverTooLate]

I would speak to your Realtor. This may just be a mis-communication or perhaps she mis-understood what the relo company required?

If you have an August deadline a contingency can be a problem because the Market is so slow and a Sale can take 6 months to a year plus in that time span....a lot can potentially happen to a Buyers buying power

I would definately expres your concerns and I'm sure your agent will be able to adress your concerns!
Good Luck with your move!

[Movingback]

Miakelly

Definately talk to your Realtor and tell her that you WILL be considering offers with a home sale contingency, but will offer a 48 hour right of refusal on each offer with one.
That enables you to keep the interest up and begin fielding offers, but if a non home sale contingent offer comes along, it would give the buyer with the home sale contingent offer on your home (assuming you get an acceptable deal) 48 hours to either move forward with the deal (and release the home sale contingency) or pass on the deal and pave the way for you to accept the new offer.
Just be sure to continue marketing and showing the home should you accept such an agreement.

That would be my recommendation anyway

Good luck with your sale

[AngelaK]

I would tell her that you checked with the company, they said you could accept those offers, and that she needs to contact those other parties to correct her mistake and see if they are still interested. That is what I would do. If she screws up again, demand another realtor who knows what they are doing!! Maybe Valerie, our devoted forum realtor, has other good ideas??!!

[buck naked]

I also would overrule the broker. Contingency deals should be acceptable as long as the home can continue to be shown to other prospective buyers.


Unfortunately, we lost the home we wanted 4 years ago because we could not sell our home fast enough. We had a contingency on a home in Charlestown, but the closing day came and went, and we still did not have a sale. The seller chose to sell to someone else at a much lower offer. Of course, no sooner did that happen, when our home did sell.


It's a heartbreaker.

[lisa g]

How awful!
Can your realtor contact the interested parties?

I was in your exact shoes last summer and unable to accept a favorable contingency offer for the same reason. Our reloc. co would not allow for contingency offers, though, so there was really nothing we could do.

Best of luck in selling your home quickly. Think positively, it will happen, and all will work out well.

[miakelly]

Thank you so much to everyone that replied! I hope this did not come across as realtor-bashing (just bashing my own realtor) as I would never generalize that all realtors are good or bad. There are good and bad people in every profession....mostly good : ) I don't even think mine is bad, but she just really mis-handled this and it certainly is NOT the type of market to be screwing up like that. We don't want to miss any opportunity.

She is supposed to be contacting the other parties to let them know that we can accept contingent offers.

Thanks again, this is such a great & helpful board. People are so friendly and willing to help. Anyone who wants to know if NH people are friendly only need to read this board. Thanks again everyone!

[CometVoyager]

Originally Posted by miakelly

Thank you so much to everyone that replied! I hope this did not come across as realtor-bashing (just bashing my own realtor) as I would never generalize that all realtors are good or bad. There are good and bad people in every profession....mostly good : ) I don't even think mine is bad, but she just really mis-handled this and it certainly is NOT the type of market to be screwing up like that. We don't want to miss any opportunity.

She is supposed to be contacting the other parties to let them know that we can accept contingent offers.

Thanks again, this is such a great & helpful board. People are so friendly and willing to help. Anyone who wants to know if NH people are friendly only need to read this board. Thanks again everyone!

Hello Miakelly! Welcome to the board! On this New Hampshire Board we have a very qualified and ethical real estate agent named Valerie C. You may want to ask her professional advice, as I am sure she would provide you the best answer to your questions!!!

Good Luck!

[notdancingqueen]

Make sure you get a straight story from your relo company, too (say she who is arguing with hers over several issues as we speak...) It may be that the realtor and the relo are both sort of right.

For example -- our relo company allows us to accept contingent offers if the buyer is currently under contract to sell their home. We cannot accept contingent offers from people who are not under contract to see their home (i.e. people who are just hoping to sell their house by the closing date for your home.)

Best of luck -- Jackie

[miakelly]

Originally Posted by CometVoyager

Hello Miakelly! Welcome to the board! On this New Hampshire Board we have a very qualified and ethical real estate agent named Valerie C. You may want to ask her professional advice, as I am sure she would provide you the best answer to your questions!!!

Good Luck!

Thank you!!! I have read many of Valerie's posts and think she is just FANTASTIC! Anyone would be lucky to have her as their realtor. I am sure she must be one of the very best, most professional and ethical realtors around. I was hoping she would respond to my post because based on her usual responses, I am certain that she could provide excellent advice. Her answers are always very helpful, professional, accurate etc. as are so many others on here. I read here often