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San Bernardino and Riverside Counties The Inland Empire
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Old 01-10-2019, 01:33 PM
 
768 posts, read 859,614 times
Reputation: 2806

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As a 25+ year real estate broker licensed in two states, I, for the life of me, do not understand why the California Real Estate Broker who has my brother's home listed has posted "For Sale - Back Up" on my brother's home. This, in my opinion, would scare away a buyer yet notifying him/her that the seller has accepted an offer from an iffy buyer OR the house is having inspection issues. This, to me, does not represent the best interests of the seller whatsoever.
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Old 01-10-2019, 06:58 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,572,211 times
Reputation: 16698
Why not ask the broker directly?
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Old 01-10-2019, 11:45 PM
 
Location: Living rent free in your head
42,850 posts, read 26,285,621 times
Reputation: 34059
I have seen listings with "pending, accepting backup offers". I never thought it inferred that there was something wrong with the house though.
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Old 01-11-2019, 05:53 AM
 
5 posts, read 7,490 times
Reputation: 20
I see this a lot in California listings. I assume realtors do it to keep pressure on the buyer by not letting them completely take the property off the market during the escrow process. With a few back up offers in the queue, buyer will have less leverage to make last minute negotiations. Just a guess.
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Old 01-11-2019, 06:24 AM
 
Location: So Ca
26,731 posts, read 26,812,827 times
Reputation: 24795
Quote:
Originally Posted by LynnKrause1 View Post
This, in my opinion, would scare away a buyer yet notifying him/her that the seller has accepted an offer from an iffy buyer OR the house is having inspection issues.
I think it actually conveys the idea that the property is desirable enough that there are people waiting to buy it if the original offer doesn't go through.
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Old 01-11-2019, 07:12 AM
 
Location: Riverside Ca
22,146 posts, read 33,537,436 times
Reputation: 35437
I would sell but accept back up offers. This way if the buyer starts playing or falls out I have another buyer lined up. I won’t take a property off the market.

On rentals I don’t accept any hold deposits for applicants. I’m not going to hold a property if someone is ready to rent now.
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Old 01-11-2019, 09:57 AM
 
Location: San Diego
1,187 posts, read 1,329,241 times
Reputation: 1546
Agree with everyone. Makes sense. This is extra work the Realtor doesn't have to do, so looks as if Realtor is representing the Seller's best interest.

Should be in Real Estate section
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Old 01-14-2019, 01:04 PM
 
661 posts, read 833,633 times
Reputation: 840
Is the home not under contract?

If his home has a buyer under contract MLS rules state it goes to backup stage until contingencies are removed, then it goes into a pending status.

If the home is not under contract with any buyer then it should be in an active status, another agent can go into the MLS and make an anonymous complaint if the wrong status is being used.

If the current buyer is still under the contingency period, backup is the correct status, some MLS boards are more strict than others and really make sure we are using the right status. Then you also have agents with nothing to do that see homes just go under contract and the agent incorrectly puts "pending" instead of backup, and they click the complaint button.


Best to know the local MLS rules and abide by them the best we can.


Quote:
Originally Posted by LynnKrause1 View Post
As a 25+ year real estate broker licensed in two states, I, for the life of me, do not understand why the California Real Estate Broker who has my brother's home listed has posted "For Sale - Back Up" on my brother's home. This, in my opinion, would scare away a buyer yet notifying him/her that the seller has accepted an offer from an iffy buyer OR the house is having inspection issues. This, to me, does not represent the best interests of the seller whatsoever.
Reply With Quote Quick reply to this message
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