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If I may put my two cents in here. We agents by law are suppose to present all offers regardless if they are low or not. I always write up a contract and present it in person to the sellers, for no one knows my buyers as well as myself, and I bring comps to substantiate how my buyer came to that price .
Sellers always seem to work with you when they have a concrete offer in front of them. In todays market any offer is a good offer.. Just food for thought.
to add...no agent should assume what a seller will accept. One day a seller could wake up and decide that last week's lowball offer is fine today. I won't deal with an agent that represents both buyers and sellers. Too messy for me!
The Agent I used in NJ told other realtors that all offers must be in writing. She has been in the Business over 25 years and verbal offers to her were just unacceptable. I fully agree with her thinking.
to add...no agent should assume what a seller will accept. One day a seller could wake up and decide that last week's lowball offer is fine today. I won't deal with an agent that represents both buyers and sellers. Too messy for me!
You shouldn't feel this way I myself have been on both sides of the fence. I ask another agent from my office to write up the offer for the buyer without my knowledge of the terms or offer. Then that agent will present it to the seller and everything is done fairly.
I've written this story out on the real estate board but when I was buying my house I did most of the leg work myself to find the house we wanted. We had no representation as a buyer and had issues negotiating. I had accidentally overheard the seller make a comment to his agent while we were doing the inital walk through that he cant take lower than a certain amount due to the some issues he was havnig and her very high commission. I think he said 8%?? I was not supposed to hear that. The agent was steadfast in thinking she could move the property fast and if she did she wanted full %. The house was listed on the mls only a week before I saw it and made the appointment to see the property. I was the second person to show interest and I damn near wrote a deposit check that day ifit werent for her attitude and over the top nature (Think very brash, pushy 1980's car salesman) Next day I called her and I lowballed on puropse just to get things rolling to see where the middle ground would be and start negotiations and she refused to discuss the price with the seller. She told me to go find someone to represent me and let the professionals handle things. When, by chance, I ran into owner the next day we had a chat and we agreed we would try to work things out. I already had funding and was ready to roll for the right deal. He would accept a lower offer and I would ask if the agent would be willing to split the % and we would have a deal done today. She came up with every excuse in the book. I know what the owner wants, you have no experience dealing with these things, you have no idea how much work is involved, my commission is of no concern to you. I never did run into the seller again to ask him WTF happened to our verbal agreement but I finally just told the agent the deal is off cause we found something else. Closed a month later on our second choice house and my wife and I are VERY happy. We have been here a year and a half and the first house took another 6 months to sell after we moved in.
Sometimes the agents shoot themselves in the foot by thinking they know whats best for everyone. I dont ever mind someone experienced offerring me suggestions or guidance but "Telling" me what to do is a huge no no in my world. Maybe it just that rebellious little kid still inside me but its my money dammit and I will do what i want with it.
Sounds to me like the agent is trying to protect the prices. It happened to a friend in Florida.
She made a lowish offer. The agent tried VERY HARD to get her to up her offer. she waited and waited. and waited. Then the agent went on vacation so she called the listing agent who said "what offer?"
I hope all the realtors are reading this. This sounds like one nightmare after another. It just shows the different way they handle people. Most, and I'm not saying all have their own views on how to proceed with an offer. In todays market when you have homes sitting with for sale signs on the lawns for years, not months please if I/we make an offer please present it in writing. Who are you to know that "oh thats to low they won't take it". That is not your call, it's the sellers.
You shouldn't feel this way I myself have been on both sides of the fence. I ask another agent from my office to write up the offer for the buyer without my knowledge of the terms or offer. Then that agent will present it to the seller and everything is done fairly.
Then you aren't representing both parties....are you?
Then you aren't representing both parties....are you?
Yes I am because most of the times, it is a deal that my partner and I do together. So we are fair to all. In one of us presenting the offer to my seller, the seller already knows the market from the comps. that I show them within the last 6 mts.I educate them, but the decision is theirs to make. I take my job seriously and am a honest person I look out for the best interests of both sides..
Realtors are the used-car salesmen of the 21st century.
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. It just shows the different way they handle people. Most, and I'm not saying all have their own views on how to proceed with an offer. In todays market when you have homes sitting with for sale signs on the lawns for years, not months please if I/we make an offer please present it in writing. Who are you to know that "oh thats to low they won't take it". That is not your call, it's the sellers.
