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Old 06-07-2011, 11:50 AM
 
576 posts, read 765,123 times
Reputation: 459

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Quote:
Originally Posted by jaypp View Post
thanks bbronston for your reply,

I am also thinking that she wouldn't be making a penny out of this if i dont sell. The trick is that there is constant offers yet no buyers. In fact one offer we even say ok..we will sell without the counteroffer. Yet she came back in 3 days with the buyer has found another house.

Each offer seem to be lower then the next, as I am sure she can tell we are desperate to unload.

thanks for the reply,
As one poster has mentioned already have you actually seen the written offers? I would demand from your agent that they produce the actual written, dated, and signed offers they claim are coming in.

From your original post info, and the bold item above, it would appear to me that this might indeed be just a trick by the agent? Sounds like they took the listing at what they thought was an overpriced amount and are now trying to set the stage in your mind that you need to reduce your asking price. Without actual written offers to view and validate it does sound off! Of course that would not be the first time this type of game has been played more than likely!

If the agent does not provide you the written offers it might well be time to file a complaint with their State licensing agency!
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Old 06-07-2011, 12:37 PM
 
108 posts, read 131,864 times
Reputation: 24
Hi Jbiggs, No we have not see any written offers.

I dont' think we overprice the house at all but it is not a bargain or for a flipper to get in, but I do think she sees us desperate to sell and is trying to get us to keep lowering the offers till it is a bargain. I am starting to think these offers never really exists at all. The strange part is each time it gets lower and lower.

I donot want to accuse the agent but just want to know if tricks like this exists, Jbiggs I think you answer my question.

thanks
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Old 06-07-2011, 01:08 PM
 
Location: The Triad (nc)
17,426 posts, read 23,253,598 times
Reputation: 14567
Quote:
Originally Posted by jaypp View Post
No we have not see any written offers.
I am starting to think these offers never really exists at all.
I do not want to accuse the agent
no contract in writing = no offer.

the term "accuse" is far too polite.
what I'm hearing sounds like a lawsuit at least and possibly even criminal fraud charges.
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Old 06-07-2011, 01:39 PM
Status: "Apple Pie!" (set 15 days ago)
 
Location: Cary, NC
19,601 posts, read 31,157,320 times
Reputation: 16636
Quote:
Originally Posted by jaypp View Post
Hi Jbiggs, No we have not see any written offers.

I dont' think we overprice the house at all but it is not a bargain or for a flipper to get in, but I do think she sees us desperate to sell and is trying to get us to keep lowering the offers till it is a bargain. I am starting to think these offers never really exists at all. The strange part is each time it gets lower and lower.

I donot want to accuse the agent but just want to know if tricks like this exists, Jbiggs I think you answer my question.

thanks
You are getting some pretty bad advice here. So goes the internet.

I don't know if your agent is playing games or not.
As you mention, your home is in a community that is tightly knit, and it may be customary there to start off verbally, rather than in writing.
It just may be the way they do it.

But, I do know that if I was your listing agent, I would be compelled (by North Carolina Law) to present all offers, written or spoken.
If a buyer told me, "I will give them $$$$$," and your price was $$$$$$$$$, I would mention the offer to you, as required by law.
The proper answer is, "Bring it to me in writing, and we will see what we can do with it."
Ask the agent if she is requesting the written offers, and if she doesn't have a written offer, just a spoken offer, then you could say, "Bring it to me in writing, etc...."

There is a heckuva lot more to an offer than just price. Lousy terms can make a great price offer unacceptable. You need to see the terms that go with the price.

Last edited by MikeJaquish; 06-07-2011 at 02:33 PM..
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Old 06-07-2011, 03:49 PM
 
Location: My little patch of Earth
5,185 posts, read 2,038,953 times
Reputation: 2208
Quote:
Originally Posted by jaypp View Post
Hi, thanks for reading my post

My mom is selling her house with a agent. The agent would tell us there is a offer which is usually extremly low. But we are trying to sell the house so we usually counteroffer with a little more then the buyer price. Of course hoping to sell the house. We are pricing the house below market value.

The strange part is the agent later will tell us the buyer has either back out, found another house, or decided to wait for the market.

This happen around 4 times in 4 months. Our family is thinking this might be a Agent trick, seeing that we are desperate and will just unload it for even a better price. Of course we can change agents but we are just wondering what's going on.

I donot want to assume the agent is playing a trick but we are starting to think about it.

thanks again
I'm waiting out the market and I'm watching the price of the home I'm interested in go through two price reductions. I don't want to make a home investment (a 100% cash purchase) and watch it lose it's value drastically in the coming years.
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Old 06-07-2011, 03:59 PM
 
Location: Western NC
5,759 posts, read 5,590,033 times
Reputation: 3879
Quote:
Originally Posted by jaypp View Post
hi everybody, thanks for everyone advice.

The house is located in a 95 percent majority Jewish orthodox community. My mother house is probably the last ones that isn't . Therefore we decided to skip the mls and save 3 percent on commission instead and listed on with a jewish orthdox agent instead. But after listening to the advice of the board we will certainly looking at transfering to a mls agent and paid the extra whatever cost.

Again thanks for the advice, certainly I would be asking about something to showing us there is a offer. As I am thinking there is no offers at all, but just the way the agent is trying to keep us a client.

Selling a house is all about exposure to the market. Between the 2% no service commission, no MLS exposure to the entire market, and the predominantly Jewish neighborhood -- you have drastically narrowed the available marketing of your property. Get an aggressive successfull Realtor in your area that handles all properties and pay the agent his standard fee, and get the house in the MLS system..... pronto.... and price it below your competition. Get is SOLD and move forward.
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Old 06-07-2011, 04:17 PM
 
Location: Kingman AZ
15,379 posts, read 23,027,792 times
Reputation: 8585
at 2%, you are getting what you pay for....nothing.....
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Old 06-07-2011, 06:08 PM
 
Location: Albuquerque
5,553 posts, read 9,469,819 times
Reputation: 2462
Quote:
Originally Posted by jaypp
We are pricing the house below market value.
I'm surprised no one jumped on this statement.
Quote:
Originally Posted by jaypp
Most agents charge 4 to 5 percent and I thought we might save a little.
Time is money so nothing got saved.

If one is already an expert in buying/selling real estate, playing games like that is fine.
Otherwise, there is no substitute for a good agent to lead one through the process.
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Old 06-07-2011, 09:13 PM
 
5,375 posts, read 7,072,397 times
Reputation: 2768
I'm beginning to wonder if jaypp is putting us on, he or she intending to sell the house for below market value and virtually no sales representation to cut the commission down to 2%, then wondering if the RE agent is cheating (or gaming) them?

If the selling agent gets 2% commission, what does the buying agent get? Half of the 2%? How many RE agents would waste time showing a house for a 1% commission, or maybe the buying agent doesn't get anything at all? And how are other RE agents even going to know the house is for sale?

jaypp, take my advice: either (1) fire your agent and start sticking those little signs on light posts and traffic signs (you know, where you write your phone number vertically and then cut with scissors so people can peel off your phone number?) or (2) fire your agent and get a real RE agent and pay them 5% or whatever to sell your house.

Or quit whining that you can't sell it.
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Old 06-08-2011, 07:44 AM
 
2,759 posts, read 3,353,970 times
Reputation: 2966
If you have received 4 offers, none of them were in writing, you have received no offers. Offers are always in writing.

Also, if your not in MLS, anyone searching for a house cant find your house. If you want to save money try a flat rate MLS service for $500-$1000. You will come up on everyone's search for housing.

If you get a really good real estate agent they can can be a tough negotiator and get you top dollar for your house vs someone getting the house for cheap. Good agents earn every penny of their commission.
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