Wednesday, December 5, 2007
Should Buyer Go Directly to Seller and Bypass Seller’s Lousy Agent?
Dear Sue,
We made an offer on a home that we loved. The offer was contingent on the sale of our home.
My agent said she thought because the property had been on the market quite awhile, a contingency offer would probably be considered.
After the offer was presented, the seller’s agent told our agent that the offered price was acceptable, but a contingency offer wasn’t.
The seller’s agent then said that we were asking too much for our home and it would never sell. Our agent said that their agent isn't local and doesn't know our market.
Yesterday morning the seller’s agent finally called our agent and said to expect a fax with a counter offer on Friday afternoon.
At the exact time our offer was to expire, the seller’s agent called and started complaining about the asking price of our home again.
Our agent said that actually there was no longer a valid offer because it had expired. She also told the seller’s agent that we were very unhappy and couldn’t understand why the seller didn’t have the courtesy to respond to a sincere offer in a timely manner.
Isn’t an agent remiss not to make sure their clients respond to an offer before it expires?
I don’t feel that this agent is representing her clients very well.
Is it unethical for us to try to contact the owners directly and see if they are even aware that a formal offer was made?
As you can tell, we really like the house but we think that the seller’s agent is lousy.
Would appreciate your thoughts on the subject.
Thanks,
Dissed Diane
Dear Dissed,
You don’t know whether or not the seller’s agent is speaking on behalf of the seller or themselves. Surprisingly, many agents do like to act as the principal. Others choose to represent the wishes of their client.
In any event, it is not wise to go directly to the seller. You do not want to alienate the seller or their agent. If you want that property it is important to keep good relationships with all parties involved.
That agent was selected by the seller to represent them in the sale of their home. Who knows? The agent could even be a relative or close family friend. Regardless, there is a relationship of trust present between the seller and the agent.
I would recommend that you resubmit the offer with a cover letter to the seller expressing your feelings about the property. Be sure to let the seller know that you are not interested in selling your home unless you can buy his or her home.
Since it is difficult for an out of area agent to know the values, include the CMA (Comparative Market Analysis) on which you based your property’s value. It is difficult to argue with the facts. The numbers presented properly should keep opinions and emotions out of the equation.
I think it is also helpful to offer to provide periodic reports to the seller’s agent so that she is aware of the activity around your home.
Providing a letter to the seller and providing information to the seller’s agent regarding the basis of your home’s price and the activity surrounding it are all matters of good Home $$s and Sense.
We made an offer on a home that we loved. The offer was contingent on the sale of our home.
My agent said she thought because the property had been on the market quite awhile, a contingency offer would probably be considered.
After the offer was presented, the seller’s agent told our agent that the offered price was acceptable, but a contingency offer wasn’t.
The seller’s agent then said that we were asking too much for our home and it would never sell. Our agent said that their agent isn't local and doesn't know our market.
Yesterday morning the seller’s agent finally called our agent and said to expect a fax with a counter offer on Friday afternoon.
At the exact time our offer was to expire, the seller’s agent called and started complaining about the asking price of our home again.
Our agent said that actually there was no longer a valid offer because it had expired. She also told the seller’s agent that we were very unhappy and couldn’t understand why the seller didn’t have the courtesy to respond to a sincere offer in a timely manner.
Isn’t an agent remiss not to make sure their clients respond to an offer before it expires?
I don’t feel that this agent is representing her clients very well.
Is it unethical for us to try to contact the owners directly and see if they are even aware that a formal offer was made?
As you can tell, we really like the house but we think that the seller’s agent is lousy.
Would appreciate your thoughts on the subject.
Thanks,
Dissed Diane
Dear Dissed,
You don’t know whether or not the seller’s agent is speaking on behalf of the seller or themselves. Surprisingly, many agents do like to act as the principal. Others choose to represent the wishes of their client.
In any event, it is not wise to go directly to the seller. You do not want to alienate the seller or their agent. If you want that property it is important to keep good relationships with all parties involved.
That agent was selected by the seller to represent them in the sale of their home. Who knows? The agent could even be a relative or close family friend. Regardless, there is a relationship of trust present between the seller and the agent.
I would recommend that you resubmit the offer with a cover letter to the seller expressing your feelings about the property. Be sure to let the seller know that you are not interested in selling your home unless you can buy his or her home.
Since it is difficult for an out of area agent to know the values, include the CMA (Comparative Market Analysis) on which you based your property’s value. It is difficult to argue with the facts. The numbers presented properly should keep opinions and emotions out of the equation.
I think it is also helpful to offer to provide periodic reports to the seller’s agent so that she is aware of the activity around your home.
Providing a letter to the seller and providing information to the seller’s agent regarding the basis of your home’s price and the activity surrounding it are all matters of good Home $$s and Sense.
Labels: contingency offer, go direct to seller, lousy agent
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