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After months of searching, I found the perfect house on Realtor.com, called the listing agent and told him I would like to see the house asap. He said that he would be out of town for the week, but could show it to me the following week. I told him that I was very interested in buying it and was worried that someone else would buy it before I had a chance to see it. He said that there was no way that he would let that happen. So, I was scheduled to see the house early the next week as soon as he returned. In the meantime, I see the status changed to pending on Realtor.com. I realize that he really had no obligation to hold the house for me, but I wish that I had been given a chance to at least compete for it. Or, he shouldn't have made a promise that he couldn't keep. I'm now not so enthusiastic about having him as my agent, since I'm not sure if I trust him.
Any thoughts?
You didn't have an agent that represented you.
The seller's agent represents the seller, not you.
The big question is, HOW MANY AGENTS ARE THERE IN THAT CITY PLUS THE SURROUNDING AREA?
That is how many agents are trying to sell that home. Lets say there are a total of 200 in a small city. Lets say one gets a contract to buy the home the same day you talked to that agent. Their agent takes the contract to the selling agents office. As the office is required to present the offer to the seller, some one will present the offer to the seller and if they sign the contract and it is a pending sale waiting to close.
If it is a hot property, if you immediately got a reservation to fly out to see it, the odds are it could be sold by the time you even get to town to see it.
What you expected to happen, is an impossible dream if it is a real desirable property with a fair price on the property. This is the real world of real estate. In fact there are often multiple offers for hot properties within 3 days.
From the agents point of view they get many calls from out of town saying they will be in town to see a certain house, and very few actually show up to see the home. Due to this factor, out of town calls are not a big priority for many experienced agents.
The big question is, HOW MANY AGENTS ARE THERE IN THAT CITY PLUS THE SURROUNDING AREA?
That is how many agents are trying to sell that home. Lets say there are a total of 200 in a small city. Lets say one gets a contract to buy the home the same day you talked to that agent. Their agent takes the contract to the selling agents office. As the office is required to present the offer to the seller, some one will present the offer to the seller and if they sign the contract and it is a pending sale waiting to close.
If it is a hot property, if you immediately got a reservation to fly out to see it, the odds are it could be sold by the time you even get to town to see it.
What you expected to happen, is an impossible dream if it is a real desirable property with a fair price on the property. This is the real world of real estate. In fact there are often multiple offers for hot properties within 3 days.
From the agents point of view they get many calls from out of town saying they will be in town to see a certain house, and very few actually show up to see the home. Due to this factor, out of town calls are not a big priority for many experienced agents.
All very good points, thanks.
It's a very small community, although a tourist destination, so maybe 5 real estate offices (some with multiple agents). Even though the agent told me originally that there was little to no interest in the property, when I inquired about the pending sale just 2 days later, he said it had 4 very interested and motivated buyers. It's entirely possible that these 4 buyers suddenly materialized.
I know that many here won't believe me, but I have made several property purchases doing the same thing as this time, and all worked out perfectly. I'm an impulse buyer (without any regrets) after extensive property research on my own time (not wasting agent's time) and the motivated agent who gives me the time of day rather than automatically viewing me as a tire kicker gets a quick sale.
Well, whatever happened, I'm now wiser, and taking all comments to heart.
After months of searching, I found the perfect house on Realtor.com, called the listing agent and told him I would like to see the house asap. He said that he would be out of town for the week, but could show it to me the following week. I told him that I was very interested in buying it and was worried that someone else would buy it before I had a chance to see it. He said that there was no way that he would let that happen. So, I was scheduled to see the house early the next week as soon as he returned. In the meantime, I see the status changed to pending on Realtor.com. I realize that he really had no obligation to hold the house for me, but I wish that I had been given a chance to at least compete for it. Or, he shouldn't have made a promise that he couldn't keep. I'm now not so enthusiastic about having him as my agent, since I'm not sure if I trust him.
Any thoughts?
Well, now you've learned the hard way. Fortunately, you didn't lose anything. Two mantras to keep in mind:
There will ALWAYS be another house. (and often even better than the one you missed out on)
Realtors lie, realtors lie, realtors lie.
If you really want to see a house, and the listing agent is unable to show it to you, ask for one of his colleagues to show it to you for him. Or call another agent in the listing agent's office and ask for them to show it to you. Or call any other agent in the area and ask for them to show it to you.
Many times, on houses that I've expressed interest in, we've waited for our agent to be available to show it, and by the time she is, house is already under contract. So if we really, really want to see it right away, we get someone else to show us that one.
After months of searching, I found the perfect house on Realtor.com, called the listing agent and told him I would like to see the house asap. He said that he would be out of town for the week, but could show it to me the following week. I told him that I was very interested in buying it and was worried that someone else would buy it before I had a chance to see it. He said that there was no way that he would let that happen. So, I was scheduled to see the house early the next week as soon as he returned. In the meantime, I see the status changed to pending on Realtor.com. I realize that he really had no obligation to hold the house for me, but I wish that I had been given a chance to at least compete for it. Or, he shouldn't have made a promise that he couldn't keep. I'm now not so enthusiastic about having him as my agent, since I'm not sure if I trust him.
Any thoughts?
As they say in the car business......Money on the hood makes the deal good!
You should have called another agent, if you liked the house then ink a contract while your there. Game over.
After months of searching, I found the perfect house on Realtor.com, called the listing agent and told him I would like to see the house asap. He said that he would be out of town for the week, but could show it to me the following week. I told him that I was very interested in buying it and was worried that someone else would buy it before I had a chance to see it. He said that there was no way that he would let that happen. So, I was scheduled to see the house early the next week as soon as he returned. In the meantime, I see the status changed to pending on Realtor.com. I realize that he really had no obligation to hold the house for me, but I wish that I had been given a chance to at least compete for it. Or, he shouldn't have made a promise that he couldn't keep. I'm now not so enthusiastic about having him as my agent, since I'm not sure if I trust him.
Any thoughts?
You truly expected a realtor to not let a sale happen while waiting for you?
It's a very small community, although a tourist destination, so maybe 5 real estate offices (some with multiple agents). Even though the agent told me originally that there was little to no interest in the property, when I inquired about the pending sale just 2 days later, he said it had 4 very interested and motivated buyers. It's entirely possible that these 4 buyers suddenly materialized.
There are several agents in that small town, and everyone of them would be working to sell that home. The thing in real estate is, a home may be for sale for 3 months with only on or two people seeing it in a small town, then have 3 offers submitted to the selling office by other offices within hours of each other.
This is especially true in a tourist destination. There may be no one looking for that type of home for months, and suddenly now tourist season is on, you may have 10 or more views of it in a day, especially on weekends and often more than one offer as people look for a retirement home, a vacation home, and just fall in love with the area and decide they want to live there. I have owned a Real Estate Office located in a high traffic tourist town. I did not sell personal homes as I specialized in investment property, but still had numerous people come to my office looking to buy homes. For 3 months they may not have one looker, but when the tourists come to town, they may feel like they are working day and night. Tourist towns, are completely different than regular towns and cities, on how one minute no on looking, and suddenly tourist time and they are ran ragged trying to handle the inquires.
I know that many here won't believe me, but I have made several property purchases doing the same thing as this time, and all worked out perfectly. I'm an impulse buyer (without any regrets) after extensive property research on my own time (not wasting agent's time) and the motivated agent who gives me the time of day rather than automatically viewing me as a tire kicker gets a quick sale.
Problem. The agent you talk to has no way of knowing which you are when you live a great distance away. They do not have lie detectors on their phones to know the difference. They get so many of the other calls that never come into see them, they simply cannot determine what phone call is a good prospect, and which is a time waster which most are when out of town callers call, especially in a tourist area.
Well, whatever happened, I'm now wiser, and taking all comments to heart.
That agent due to the time of the year, was taking a vacation before the deluge of tourists hit. They do not take vacations during tourist season. That is when they have to make their years income. With Cell Phones the agent may have been on vacation laying on Waikiki Beach when you called. He/She gave you the best information they could at the time. Then if some early tourist came to town ahead of the crush as some do, and bought the home, the agent would not have known what was happening. All this is tourist town real estate.
Thanks oldtrader for your sharing your experiences. I have a feeling that this is what happened. I got a buyers agent, sent my husband out to look at another house, and made an offer the same day. Keeping fingers crossed!
After months of searching, I found the perfect house on Realtor.com, called the listing agent and told him I would like to see the house asap. He said that he would be out of town for the week, but could show it to me the following week. I told him that I was very interested in buying it and was worried that someone else would buy it before I had a chance to see it. He said that there was no way that he would let that happen. So, I was scheduled to see the house early the next week as soon as he returned. In the meantime, I see the status changed to pending on Realtor.com. I realize that he really had no obligation to hold the house for me, but I wish that I had been given a chance to at least compete for it. Or, he shouldn't have made a promise that he couldn't keep. I'm now not so enthusiastic about having him as my agent, since I'm not sure if I trust him.
Any thoughts?
Yes. Next time thank him for his time and hang up. Call another realtor.
Most realtors lie and are incompetent. Either one of those is the cause of the problem. The incompetent ones lies to cover for their mistakes. The corrupt ones lie to gain an advantage. If you can buy and sell real estate without a realtor involved, both parties will be the better for it minus the needless commission.
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