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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.
I’m sorry to inform you of this but in my opinion the reason you are getting the flaky agents is because the good ones see that you are both listed with an agent but that you reserve the right to FSBO and there is too much risk there will be a misunderstanding about commission therefore the good ones will not show your property. If you want the successful expert professional agents to sell your ranch, drop the FSBO and change your listing to be offered only through agents.
Also it was probably not the most experienced nor successful agent that would have taken such a listing in the first place.
I’m sorry to inform you of this but in my opinion the reason you are getting the flaky agents is because the good ones see that you are both listed with an agent but reserve the right to FSBO and there is too much risk there will be a misunderstanding about commission therefore the good ones will not show your property. If you want the successful expert professional agents to sell your ranch, drop the FSBO and change your listing to be offered only through agents.
It's listed on the MLS as 2.5% commission, no misunderstanding there.
I'm confused by your rant. All the requests you have received have been from the prospective buyers: they're the ones who want a long inspection period, not a lot in escrow, etc etc., yet you're railing against the realtor? That makes no sense. The realtor is just relaying what their clients want; your real issue should be with the buyers and what you feel are their over-the-top demands.
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), and making outrageous demands; it's your right not to put up with it, but you haven't clearly explained why you think the realtor is disrupting the process.
You're dealing with a couple that clearly doesn't have enough money on their own to afford the property, seem to think the property needs a lot of work (to the point where they want to tear down an existing structure), want to build a new structure (which is it's own set of challenges, and certainly requires a lot more homework done in advance on the part of a buyer, since you need to ensure that what you'd like to build is actually allowable on the land by the municipality), and to boot, your property is farmland, which is notoriously hard to price, as those types of property don't turn over as frequently as SFH lots so there are rarely enough recent comps to derive an exact current market value for the land.
Considering all those factors, I'm curious why you're expecting a clean and quick deal with anyone other than a cash buyer.
Last edited by berniekosar19; 07-10-2014 at 10:24 AM..
based on reading other threads about FSBOs then reading your threads... you are one of "those" FSBO.
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?
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?
Well, that certainly does suck.
If you had someone wanting to view claiming they were a cash buyer, did you ask for proof of funds prior to agreeing to show? It makes sense that you should ask for such proof, since you're FSBO, so you can ensure you're only letting qualified purchasers onto your property.
I don't understand what running the comps has to do with anything. You claim you're firm on your price so what do comps have to do withe the process? A buyer will either meet your price or not; unless you're not so firm, and willing to negotiate, in which case comps may come into play, and finding usable comps for farmland are awfully hard to come by.
Unfortunately, you seem to be learning a lesson that, even if an agent comes to you with a supposedly serious purchaser, you should still do your own vetting before you agree to allow someone onto your property.
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