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Old 07-10-2014, 10:48 AM
 
Location: Dallas TX
13,982 posts, read 20,000,216 times
Reputation: 19255

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Quote:
Originally Posted by gray horse View Post
I guess I am.

For some crazy reason I expect an agent that tells me that she has a cash buyer, actually has a buyer with cash. Also when I tell an agent up front I'm firm on my price, I expect her to run the comps. before we are into 8 hours of showings.

Last Sunday for example the agent calls at 8:30, her clients want to see the property with their dad who is funding the property, but the agent can't make it. OK, that's all good. I start cleaning the house, the barn, etc. By 11:00 the place is in good shape...client doesn't show up until 2:00, when they were suppose to be here @ 11:00. I call the agent, she is too lazy to call her client and see if they are a "no show" or what...so just when I had given up they drive in. Stayed until 4:00. Pretty much took up my whole day, which is fine IF I have a serious buyer.

I have come to find out, agent does not have a serious buyer.

It seems common in the industry that's it's acceptable to waste the seller's time, which I find to be a disappointing attitude.

Believe me I have had a lot of "dreamers" come through that want to buy a horse property but when it comes down to it they don't have the means. I personally don't waste an agent's time, or a seller's time being a tire kicker, it's a strange behavior that people look at things they can't afford. I would think as an agent you would sort that out upfront?
It does suck, but everyone on the board was stating 'red flag' on your previous thread!!
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Old 07-10-2014, 10:52 AM
 
921 posts, read 960,272 times
Reputation: 1466
Quote:
Originally Posted by veuvegirl View Post
It does suck, but everyone on the board was stating 'red flag' on your previous thread!!
You are right!

Lesson learned, when someone says they are a "cash buyer" I need to see proof of finances, before they dive into the weeds. I should have requested it prior to the second showing.
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Old 07-10-2014, 11:05 AM
 
990 posts, read 1,215,311 times
Reputation: 1078
Quote:
Originally Posted by gray horse View Post
You are right!

Lesson learned, when someone says they are a "cash buyer" I need to see proof of finances, before they dive into the weeds. I should have requested it prior to the second showing.
You always want to see some proof of finances before allowing someone to view your home, whether they be a cash buyer who can show you proof of funds, or a buyer requiring a mortgage who can show you, at the very least, a pre-approval letter.
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Old 07-10-2014, 11:12 AM
 
Location: Los Angeles
11,227 posts, read 13,209,243 times
Reputation: 8074
Quote:
Originally Posted by gray horse View Post
Seriously, a Realtor has brought a party to show the place twice, and then they came back another time without the agent. They have viewed the property over 8 hours in total. I get a call yesterday that she thinks the property is overpriced. Wouldn't she have done her comps after the first showing?

Also she wanted a long COE (October) which I said fine to with a $45K non-refundable EM. Now she says they only have $20K EM, and they need 30 days for inspections. "In six weeks we will have it all worked out". The father is suppose to be funding the property for the young couple that want it.

It gets better, she then says the reason they need 30 days is because they need to work on pulling a permit to replace one of the houses, and they need to decide on a builder, and they need to check on irrigation permits (the property has a private well @ 100GPM).

I swear Realtors in my area are "special snowflakes".

It's a FSBO and I'm at the point of saying the buyers need to deal directly with me and pay the agent her commission. It's farm property and the agent has limited knowledge of wells, etc.
Chuckling as I read your post and typing my reply, can't help but think "there's a simple hand gesture for that!"

Seriously, if you even consider them get proof of funds, and I don't mean a screen shot of their banking website "my account" page.
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Old 07-10-2014, 11:54 AM
 
Location: Phoenix, AZ > Raleigh, NC
13,952 posts, read 16,833,210 times
Reputation: 21381
Weren't these the buyers that had to sell the fall crop for the cash??? If so, then of course they don't have a screen shot to show you, nor the cash in hand right now. If so, obviously they were going to ask for a long COE. If not, then I apologize.

Might have been better to let the attorney who DID have the cash do the appraisal prior to contract as he requested.

And I agree with the other posters: It's not the realtors that should be blamed here. You have already stated that the comps won't justify the price, have insisted on doing this FSBO, won't allow appraisals prior to contracts, really want a cash buyer, etc. AND you have an unusual, boutique property.

Edited to add: Actually, you only had ONE showing - the one that included Dad who is the one who has the money. The two showings with the daughters? I'd call them shoppers, but not buyers.

Maybe now you have a better understanding of why your prior Realtor couldn't get the deal closed?

Last edited by Jkgourmet; 07-10-2014 at 12:44 PM..
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Old 07-10-2014, 12:34 PM
 
6,758 posts, read 7,705,270 times
Reputation: 6762
Quote:
Originally Posted by berniekosar19 View Post
You seem to have buyers who, seeing that you're FSBO, are trying to take advantage of your supposed naivete (like it or not, most people who see a property that's FSBO think that the sellers are not as well-informed about the value of the property and FSBOs receive a lot more lowball offers, as a result),
Actually, I tend to assume the opposite. IME, FSBO sellers in my area overprice their houses and are unwilling to negotiate on price. They assume they will get the highest amount any house has sold for recently in their neighborhood, regardless of condition. And they always have a lot of deferred maintenance (dryrot, etc.) that will cost several tens of thousands to repair. I mostly avoid looking at FSBOs.

30 days is standard for inspections where I live, and cash sales close in 5-6 weeks. But if your buyers don't have building experience, I think 30 days is too optimistic for looking into permits, design, etc. I could do it in 2 weeks, but they sound like newbies.

And it does sound like these people are telling you they only might be cash buyers, in October. I think you are wise to ask for a lot of earnest money.
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Old 07-10-2014, 12:55 PM
 
921 posts, read 960,272 times
Reputation: 1466
Quote:
Originally Posted by Jkgourmet View Post
Weren't these the buyers that had to sell the fall crop for the cash??? If so, then of course they don't have a screen shot to show you, nor the cash in hand right now. If so, obviously they were going to ask for a long COE. If not, then I apologize.

Might have been better to let the attorney who DID have the cash do the appraisal prior to contract as he requested.

And I agree with the other posters: It's not the realtors that should be blamed here. You have already stated that the comps won't justify the price, have insisted on doing this FSBO, won't allow appraisals prior to contracts, really want a cash buyer, etc. AND you have an unusual, boutique property.

Edited to add: Actually, you only had ONE showing - the one that included Dad who is the one who has the money. The two showings with the daughters? I'd call them shoppers, but not buyers.

Maybe now you have a better understanding of why your prior Realtor couldn't get the deal closed?
Yes they do a harvest that's gross income is about $4million, and I had discussed with the agent them putting down a $45K nonrefundable EM deposit, because it was a long COE. Now they can only come up with $20K. Even initially she said they always put down at least $25K in this sort of deal, but knew I would want more as the property is priced closed to 1 million.

The attorney is still in the game The wife was here yesterday getting quotes for some farm buildings she wants to add. I'm thinking that means they are still engaged as a possible buyer.

You are correct, in the future, the man with the cash needs to be here for showing #1.

Prior Realtor couldn't closed the deal because in 5 months she brought 3 buyers, none of which had the finances / qualifications to purchase. Last week I had 3 showings, all cash buyers...one of those, from FL, came with an agent. Oh and then there was that little problem with my prior Realtor's ethics...she was charged with violating Article 3 of The Code of Ethics....whoops.
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Old 07-10-2014, 05:25 PM
 
Location: Los Angeles
11,227 posts, read 13,209,243 times
Reputation: 8074
Quote:
Originally Posted by gray horse View Post
Oh and then there was that little problem with my prior Realtor's ethics...she was charged with violating Article 3 of The Code of Ethics....whoops.
--->

Quote:
REALTORS® shall cooperate with other brokers except when cooperation is not in the client’s best interest. The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker. (Amended 1/95)
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Old 07-10-2014, 06:18 PM
 
Location: Raleigh NC
5,122 posts, read 4,309,152 times
Reputation: 12645
Honestly, I think this kind of back and forth bs goes on between realtors much more than most of us realize. Because you are FSBO, you've eliminated your chance to have a buffer. The realtors want us to believe that the buyers are always the special snowflakes with the silly requests, when often they are the ones suggesting those requests.

Last house I sold, the buyer's agent said some really nasty things about ME, which I would never have heard from my own agent, except a disgruntled employee of my agent 'accidentaly' forwarded some emails to me that I should never have seen. I was pretty upset. It gave me a different view of the business.

Yes, this realtor wasted your time. If you want to work with these buyers (and I have been told more than once to work with the buyer you HAVE rather than wait for a better one) you are going to have to find a way to communicate your expectations and limits.
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Old 07-10-2014, 09:55 PM
 
820 posts, read 913,358 times
Reputation: 1166
Lower your price = property sold.
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