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the realtors believe that "system" is beneficial to the buyer just like the politicians in Washington believe THEY are acting in OUR best interest..... clearly it is NOT the case in either situation ...... if it acts like a duck.....!!
Yes, Stonecreek, and just like the so-called journalists of our day (both "red team" and "blue team") probably really believe they are bringing us "news" because they're in their own echo chamber.
To be fair, realtors showing property work VERY hard. Both running around and also drawing up paperwork. I do my own research as well as rely on their listings, but they are still doing a ton of work for possibly no return. But that's the industry. I appreciate their situation, but I am more invested in my own best interest, of course.
goldenage said: Bill- What is the point of a lie like that? Do they want to keep all the commission? Are they trying to get a better offer out of you?
The general idea when a listing broker tells a buyer's broker that another offer is coming/has come is to create urgency. The listing broker is trying to get the buyer to submit the highest offer with the best terms and conditions. After all-That is the listing's broker legal responsibility to the seller-Get them the highest and best offer.
Of course the listing agent must do it in a legal fashion.
Please don't get me wrong. There have been times when a listing broker has told me that another offer has just come in and be sure to
submit our best offer to purchase-get rejected and see the property pend within a week.
Here's something I'd like all real estate buyers/sellers to keep in mind. You, the client are the boss. All a broker can really do is suggest and recommend. You, the client ultimately say yes/no and are always the captain of the ship. You need to have 100% faith in your brokers abilities.
The process of buying real estate is rarely easy and often is very unpleasant. But that should all be happening from without the inner circle of the client/broker relationship not from within.
Last edited by Bill Hitchcock; 02-17-2012 at 11:36 AM..
I'm not saying I have an "unpleasant" client-agent relationship. I'm saying the system stinks.
It also does not help to get one's offer in to a bank the last minute before a 3 day weekend. Ack!
The main problem is I'm competing with investors. I want a classic cottage so I can live in it and fix it up artistically...save it from the cookie cutter flippers who RUIN the integrity of these treasures by slapping up "surrounds" over classic tile baths (heresy) and think all buyers want out-of-place "stainless" appliances and porous granite that can't be properly cleaned. UGH.
I'm out of time, tho....my dream ends with the thumbs up or down on this deal. Plan B is already underway... it's all good, as we say when we can't say anything else!
The main problem is I'm competing with investors.
Bingo! Something like 25% of all sales in my market last year were cash-In other words investors.
Please let this be your harninger, your herald all home shoppers. Have your financials taken care of before you go looking
I went through the same crap. I made an offer (lets use $100k as an example). Agent came back and said they had another offer from another party and would I like to submit another offer. My reply: "Why certainly, tell them $95k"
In this market, do not play games. You think you're getting jerked around? Remove your offer and go elsewhere. There are a ton of realtors dying for work and there are more homes/properties for sale than there are buyers. The ball is in your court, don't let them have it.
In this market, do not play games. You think you're getting jerked around? Remove your offer and go elsewhere. There are a ton of realtors dying for work and there are more homes/properties for sale than there are buyers. The ball is in your court, don't let them have it.
I just have time for this quick & friendly word of advice. If you are looking to buy a short sale or foreclosure do not expect it to move quickly and do not expect to have every demand met. Most buyers work under the impression that the seller is desperate and willing to do anything to sell. Short sales and foreclosures are out of the hands of the seller.
Buyers-If you don't have your financials 100% in order then your chances with a short sale or foreclosure are about 0%.
Mpre later.
Bill
In this market, do not play games. You think you're getting jerked around? Remove your offer and go elsewhere. There are a ton of realtors dying for work and there are more homes/properties for sale than there are buyers. The ball is in your court, don't let them have it.
I just have time for this quick & friendly word of advice. If you are looking to buy a short sale or foreclosure do not expect it to move quickly and do not expect to have every demand met. Most buyers work under the impression that the seller is desperate and willing to do anything to sell. Short sales and foreclosures are out of the hands of the seller.
Buyers-If you don't have your financials 100% in order then your chances with a short sale or foreclosure are about 0%.
Mpre later.
Bill
Bill, you are correct when it comes to short sales and foreclosures. I'm talking about a traditional sale in the sense.
I passed on a short sale because of the process. It really wasn't worth my time.
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Location: Greenville, NC
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Quote:
Originally Posted by Bill Hitchcock
Short sales and foreclosures are out of the hands of the seller.
Buyers-If you don't have your financials 100% in order then your chances with a short sale or foreclosure are about 0%.
Mpre later.
Bill
If you want to really gum the works up, do it without a real estate agent. Jeeze. I went round and round with my finance company. I kept calling looking for answers and no one would provide them. Then one day one of the reps, quite rudely, told me that I should ask my RE agent for the info. I told her it was a private sale and that there was no RE agent. The flood gates of information opened up at that point and everything went a whole lot smoother for me.
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client-agent
The flood gates of information opened up at that point and everything went a whole lot smoother for me. 
