Quote:
Originally Posted by jennybgoode
I have no buyer's agent (if I did I would seek advice from them of course) I am more trying to figure out what's up with the seller's behavior (returning same counter which is 10% above appraised value) rather than "cut out the agent" so to speak. The effort exerted by the listing agent consisted of showing me the property (once, in the dark) and receiving two purchase offer faxes from me. I wrote them, she presumably called up the seller and told him about them. It's possible she sent a couple of faxes herself. The amount I would be willing to pay remains unchanged regardless of commissions so the extra money is all in the seller's pocket. There is no second agent. If I had a personal agreement with anyone, I would honor it. I found the listing agent very unhelpful, but I have no agreement with her, she's the listing agent. I guess I have to wait and see if the seller is actually motivated to sell.
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It was incorrectly assumed that you had a buyers agent, therefore, the responses were geared to that.
This is all strange because if I were the listing agent, and I'm in Arizona, and you came to me with an offer, and you were representing yourself, then I would need to have you sign an Agency Disclosure form that notifies you that I am the Agent of the Seller and do not represent you. I don't know about your state.
It needs to be clear who the agent is representing, and not representing, no matter who actually pens the offer. Otherwise there could be an implied dual agency situation that arises.
When the seller countered with the same price as before, they were telling you that you need to come up more to get into their ball park before they would make more concessions. Once you get in their ball park then you could consider making small concessions each time and giving the sellers 48 hours instead of 24 to think about it. In the meantime you can be looking at other properties.
There are many ways to structure negotiations that don't amount to higher price offers. That's where a good buyers representative can be worth their weight in gold for you.
So to answer your question with the new information:
Since you state that you were not represented by the sellers agent, then you can go directly to the seller since they are now fsbo.
The other thing you may do is to wait for 180 days, assuming that is the contract extension time, and then contact the seller directly. The reason they went fsbo is the home didn't sell with the agent, and without the marketing it most likely won't sell now, and the price will have to come down in 6 months.
If you buy the home within the period of time in the contract extension period, the sellers will still have to pay the realtors commission. So they will not save any money by not using their realtor.
Since you were going on your own, then I assume you have the knowledge to complete a transaction. However, the fsbo may not, and that can cause some problems. That's just to give you a heads up.
If it were me, I would go back to the realtor, since they're going to have to pay the commission anyway. At least you'll know that there is someone on that other side that knows what they're doing in the transaction.
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