Are we our own worst enemy?
I had a conversation with a buyer client last night. We've been looking at modest acreage (8 to 15 acres) in south Jersey. This is a dream buyer; cash and quick closing. We've made several offers, some very low, and have dealt with several selling agents.
His question to me last evening was "How can the National Association of REALTORS® tout using a REALTOR®, when these people (REALTORS®) really don't seem to care?"
This question came after the latest shenanigans on the property he's interested in. We wrote a contract last weekend for less than asking, with a couple of contingencies. The sellers, according to the seller's agent, rejected the offer and said full price, no contingencies.
After thinking about it, and viewing the property once more, the buyer agreed to meet the seller's demands. Another written contract was delivered to the seller's agent on Wednesday. I checked Wednesday night, and Thursday morning and finally spoke to the seller's agent about 3pm on Thursday.
At that time I was told that he (the Seller's Agent) only uses contract forms from his office (you couldn't tell me that beforehand and provided a copy for my buyer) , and he'd have to re write the contract to submit to the sellers. That means my buyer has to re sign the contract. DELAY
The seller's agent also said I should not expect a signed contract before next Tuesday because he was going on vacation (leaving at 4am Friday) and wouldn't be back til then. WHA!!!!
Knowing my buyer's desire to close quickly (the closing date in the contract is April 12), I said that was unacceptable, and we would be withdrawing the contract.
The seller's agent said he'd get back to me. He apparently scrambled and came up with this (I'm hoping it's not just a delaying tactic). His office administrator will draft the contract today, he will review it via Internet, and it will be emailed to me for my buyers signature. It will then go back to his office, where the sellers will sign. Then on to the attorneys!
The agent let slip he had seen the seller when he dropped of the seller's net sheet Thursday evening. I'm confused, you couldn't take the contract along. Wait, I'm more confused! The offer was for asking price, wasn't the seller's net discussed when you listed the damn property?
Technically, we could be in attorney review tomorrow and I'm trying to remain optimistic...but I see this contract circling the bowl.
If the seller's agent hadn't spent so much time questioning why my buyer had to close by April 12 (none of your business), explaining to me how he's been in the business to 20 years (yea, it surprises me too), telling me how thorough he is (it's not rocket science), and pointing out that he started this agency (because no other agency could deal with him) perhaps he could have presented to the sellers the contract on his agency form, or at least had it for my buyer's signature this morning.
Sometimes I too have difficulty in seeing the value of REALTORS®.
I had thought about making this rant post members only, but I tired of pretending all's right with our profession.
Little Egg Harbor REALTOR® Laura Giannotta
Your Jersey Shore real estate resource!
609.384.6121
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Laura@JerseyShoreViews.com
Laura, that is a very frustrating scenario. And yes, how do we explain, without coming right out and saying, yes, he is a bad Realtor. I mean really, all that just makes us look really really bad as a group.
Good luck, hope you can keep this on track. I have something I would like to say, but will refrain.
Laura, sadly there are always going to be good and bad in every profession. The negative always seems to be on stage while the good guy is cast in the shadows. However, the one thing that i look at is how positive of an image you present, the value you give to your client and the opportunity to let people see not all Realtors are created equal. Obviously you work for your client so know that those agents only make you look better,
Laura, you really have to wonder sometimes, dont you? Why are they licensed???
A full price offer with no contingencies. A quick closing. A cash deal. This sounds like a sellers dream come true. Sadly, the seller's agent seems to be one who will undoubetdly screw this up somehow.
I'm hoping for the best for you and your buyer, but I remain cautiously optimistic.
Keep the faith and be sure to send the sellers agent some form of vacation get away so he will do just that..............get away
Enjoy the day
The NAR has put a mouth-gag on us. I see this type of crap all the time. We know who's calling the shots, and being UNETHICAL. But were to address it? It's also very difficult and confusing for consumers to file complaints.
As far as your situation, I believe you can present the offer to the sellers DIRECTLY -- with their agent present of course. I'd opt for doing that. And keep in mind, unless you're dealing with the broker/owner of the brokerage -- that is NOT his listing. It's the brokerage's. If he's leaving for out-of-town then call up the managing broker, let them know you want to present the offer to the sellers personally, and would they make the arrangments to either go out there, or assign another agent in the office to the task.
Thanks all for your well wishes and positve thoughts.
Carla...this is a new agency, and the seller's agent is the Broker!! Heck of an example!
Laura, sometimes when I'm asked what the difference is between a real estate agent and a REALTOR I want to say "about $500 bucks a year". Your rant is justified, I run into this every day.
Hey Laura --- all it takes is ONE BAD APPLE...and we all get a bad name :( Good luck with this deal, girl!
Cash to closing in nothing flat! Too busy for that?
Must be one of those REALTORS who make too much money.
Laura- Sounds like that broker needs a lesson in manners. In Georgia when a written offer is submitted to the listing company it MUST be presented as written (on whatever contract) to the sellers. If the other company prefers another contract form they can use it to counter with, but not require of selling agent to draft one of any certain contract form.
It all sounds suspeciously like stall to me. And it smells to high heavens.
Laura, I agree with you. Some agents make you wonder if it's the client talking or jsut the agent trying to talk for them
Laura, this is a good wake-up post/call for home sellers and buyers out there. The Realtor you hire can make the difference between success and faillure.
Thanks all for your comments...I'm still optimistic!
I got beat up recently from a blg that maybe shoudl have been memebers only and the agent who has not identified got wind of it...can't spell blog...and would never...not return calls, bla, bla, bla....the problem to be with this whole biz is that the "discipline" of all the rules, ethics, etc. has no teeth...no one ever gets bitten enough to deter them....hmmmm ? Happy closing !
Laura, you are right. This should NOT be members only. The only thing I would have done differently in writing this post would have been to name the agent and company involved. AND I would NEVER have used a contract prepared by the listing agent's company to send an offer. Once it is in writing he has no choice but to present it.
I love the people who tell you how long they have been in the business. That's the best way to know that they are going to be a problem my friend.
Dear Laura,
I totally agree with you. The hardest agents to deal with tend to be brokers too, in my opinion. (It may be a coincidence- who knows) My most difficult deals have been with a few "one man shops". I am sure your right, its because nobody that's any good would have them on their team. Good luck and God bless. I will keep my fingers crossed for you on this deal!
B
Dear Laura,
I hate to bring up a sore subject but has there been a closing on this deal or is it still up in the air?
Betina