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So I have a realtor that I think I'm going to just replace. Where do I start with her. So I am pre-approved. I started my home loan went out to look at a house, she told me to bid 20k over. I said no. So I passed on that property. The 2nd property she told me to bid 20k over. I said no, but put in a offer and lost out to a cash offer. Okay, 3rd house she didn't even show me, she has yet to send me a single MLS listing. I have sent her all the listings and today I found a house that has been on the market 2 months in this crazy market, I wanted to go in with a lower offer and she says basically she doesn't want to submit a offer that low. WHAT!! So I am looking right now for realtors to call tomorrow. #FRUSTRATED
I understand it's frustrating, but if you're in a hot market, you will likely to bid up if you actually want to win. Sounds like she's let you bid low once so you could learn that for yourself, but it's a waste of both your time and energy to keep doing that. The one that has been on the market two months, who knows why, we don't have enough info. Your Realtor does likely know though, so ask her these questions.
So I have a realtor that I think I'm going to just replace. Where do I start with her. So I am pre-approved. I started my home loan went out to look at a house, she told me to bid 20k over. I said no. So I passed on that property. The 2nd property she told me to bid 20k over. I said no, but put in a offer and lost out to a cash offer. Okay, 3rd house she didn't even show me, she has yet to send me a single MLS listing. I have sent her all the listings and today I found a house that has been on the market 2 months in this crazy market, I wanted to go in with a lower offer and she says basically she doesn't want to submit a offer that low. WHAT!! So I am looking right now for realtors to call tomorrow. #FRUSTRATED
Even if she's right about the market as Diana notes above, that's not her decision to make. She's working for you not the other way around. Her only decision is whether she wants to continue to work for/with you. If she doesn't agree with your course of action, she can go look for another client to represent. That's certainly her right. But telling you that she won't submit an offer at the rpice point you've selected is not.
If I were you, I'd tell her to write up the offer the way you want it written up or you'll find an agent who will follow your directions.
Even if she's right about the market as Diana notes above, that's not her decision to make. She's working for you not the other way around. Her only decision is whether she wants to continue to work for/with you. If she doesn't agree with your course of action, she can go look for another client to represent. That's certainly her right. But telling you that she won't submit an offer at the rpice point you've selected is not.
If I were you, I'd tell her to write up the offer the way you want it written up or you'll find an agent who will follow your directions.
Right, but at the same time she isn't the buyers slave. Just because she's demanded to do something, like you said, she could also choose to part ways with the buyer. It sounds like she may be doing that by refusing to write the offer and if the the buyer, which she may consider to be unreasonable, lets her go, maybe she doesn't care because she doesn't want to waste her time.
For the record, I also don't like the agents advice of 20k over. OP, my advice to you is in a multiple offer situation offer the most you are comfortable with, and if you get beat out you won't be upset because you made your best offer. However, in a lot of markets, winning bids are often well over asking price.
The OP didn't say what he wanted to bid. But I am curious just how low if the agent doesn't want to write it up. Are talking 90%, 75%, or what of asking price? There's not many scenarios right now where I'd want to waste time writing an offer that I know not only wouldn't be accepted, but would tick off the seller. Did you even see this house in person or did want to throw a lowball offer at someone?
Right, but at the same time she isn't the buyers slave. Just because she's demanded to do something, like you said, she could also choose to part ways with the buyer. It sounds like she may be doing that by refusing to write the offer and if the the buyer, which she may consider to be unreasonable, lets her go, maybe she doesn't care because she doesn't want to waste her time.
For the record, I also don't like the agents advice of 20k over. OP, my advice to you is in a multiple offer situation offer the most you are comfortable with, and if you get beat out you won't be upset because you made your best offer. However, in a lot of markets, winning bids are often well over asking price.
The OP didn't say what he wanted to bid. But I am curious just how low if the agent doesn't want to write it up. Are talking 90%, 75%, or what of asking price? There's not many scenarios right now where I'd want to waste time writing an offer that I know not only wouldn't be accepted, but would tick off the seller. Did you even see this house in person or did want to throw a lowball offer at someone?
I agree with all of this, but at the end of the day agents need to be professional and just part ways. I had a cash buyer call me earlier this year who wasn't willing to write an offer at list price but wanted a decked-out, in-demand house/neighborhood. I just turned him away over the phone because I know I would never get him under contract.
OP, you just need to make some phone calls and tell agents you are looking for a deal and don't want to engage in bidding wars. Just be honest about what you want so that the agent knows what they are getting into from the get-go.
Right, but at the same time she isn't the buyers slave. Just because she's demanded to do something, like you said, she could also choose to part ways with the buyer. It sounds like she may be doing that by refusing to write the offer and if the the buyer, which she may consider to be unreasonable, lets her go, maybe she doesn't care because she doesn't want to waste her time.
For the record, I also don't like the agents advice of 20k over. OP, my advice to you is in a multiple offer situation offer the most you are comfortable with, and if you get beat out you won't be upset because you made your best offer. However, in a lot of markets, winning bids are often well over asking price.
The OP didn't say what he wanted to bid. But I am curious just how low if the agent doesn't want to write it up. Are talking 90%, 75%, or what of asking price? There's not many scenarios right now where I'd want to waste time writing an offer that I know not only wouldn't be accepted, but would tick off the seller. Did you even see this house in person or did want to throw a lowball offer at someone?
Learn something every day. I always thought agents had to submit whatever offer their client asked?
Learn something every day. I always thought agents had to submit whatever offer their client asked?
If the seller is telling his agent, don't bring me anything under full ask, then no, the buyers agent would be wasting his or her time writing up the contract.
To the OP, if you are in a hot market, which most of the country is right now, listen to your agent. If you don't like your agent, get another one. It happens all the time.
If a real estate agent tells you to enter a bidding war, fire them.
I swear it's just like 2007 when it was real estate agents feeding the frenzy.
Just had it happen myself. Real estate agent told me to bid 50k higher than asking because there were tons of bidders and "bids are due Monday morning".
Want the rub? There were no bidders. The house is still on the market 4 weeks later and I'm sure will have a price cut, like other homes in the neighborhood have been having.
If a real estate agent tells you to enter a bidding war, fire them.
I swear it's just like 2007 when it was real estate agents feeding the frenzy.
Just had it happen myself. Real estate agent told me to bid 50k higher than asking because there were tons of bidders and "bids are due Monday morning".
Want the rub? There were no bidders. The house is still on the market 4 weeks later and I'm sure will have a price cut, like other homes in the neighborhood have been having.
Agreed. We just got an accepted offer on a property in a very hot market. We wanted to offer $20k over a threshold that we felt was where others would be, mainly to be sure we got the property. Our agent told us not to do it - to offer at or slightly over the threshold that we felt it would take to land the deal.
We offered where she suggested. We were high bidder by $1000 - it pays to round up!
Her contention was that why would we spend $20k more than we needed to?
This is why you need to listen to your agent.
-D
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