The Other Agent did WHAAAAT?

By
Real Estate Agent with Chris Alston (Keller Williams Realty, Cupertino California) 01338415

scream

Have you ever submitted an offer/counter offer/request for credit/repairs and had the listing agent say, "oh, my seller will never agree to this" or they say, "I am going to recommend my seller reject this" or they say, "Are you serious, you expect the seller to do this, there is no way...  You should send me something better than this!"

What are the problems with these statements?

The biggest problem is that it is not up to US as agents to decide what the seller wants before talking to the seller.  In addition, we should not use our own opinions on the subject matter to sway the decision making process that the seller has to go through...  You never really know what a seller will accept when it is presented to them.

If the buyer asked for 5K in repairs, you can ask the seller in two ways...  Which one do you prefer?

•1.       "(Sigh), you're not going to like this, but the buyer is asking for more!  Now he is asking for another 5K in repairs.  God, this is an as-is sale, and he needs to realize that.  What would you like to do Mr. Seller; do you want to ignore it?"

•2.        "Mr. Seller, the buyer did inspections on the property and found an additional 5K in damages that were not discovered when they made their initial offer.  This has prompted them to ask for a price adjustment/credit/etc... to adjust the final price they are interested in paying for the property.  In addition, if we agree to this, they will remove all contingencies and move into a binding contract.

Have you ever come across agents that seem to make the decision for the seller, even before the seller has had a chance to review?  I would love to hear your story!

Posted by

 

Chris Alston

 

Home sales and purchasing specialist

Keller Williams Realty, Cupertino

19400 Stevens Creek Blvd, Suite #200

Cupertino, CA 95014

408-850-6955

408-850-6956 fax

calston@kw.com

www.LivePlaySiliconValley.com

 

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Rainmaker
101,809
Kim Darling
GRI, "Your Home Team" Fresno/Clovis Real Estate
Keller Williams Westland Realty

I totally agree with you Chris, I think sometimes people get emotionally attached or don't want to rock any boats in the transaction.  Sometimes we may feel like our clients behavior is a reflection of us as agents. If you educate your buyers and sellers of the process beforehand, then they will not be surprised or shocked when you get to that point.  You need to leave the decisions up to the actual parties.  Give the information, answer their questions and let them make the decisions.

I made that mistake once with a seller who I was representing, who was being difficult.  He demanded a $50 a day late fee for a $100k home.  I didn't think the first time buyer who had to accept a major electrical deficiency already, would go for it, but I WAS WRONG!!!  I could have blown the whole deal.  It was definitely an eye opener for me.  My job was to just go to buyer's agent and present what my seller wanted, no matter what I thought.  It ended up working out, but boy, did I have egg on my face and I looked like I didn't have the sellers best interest in mind, which is my job, luckily, it closed, my seller got what he wanted and I learned a valuable lesson.

August 24, 2010 12:45 PM
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482,352
Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Bill and Liz - I know!  You never know that a buyer and/or seller will agree to!  :)

August 24, 2010 12:45 PM
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Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Kim - Great comment!  I can see that if we had to present something gawd aweful to our clients, we may be afraid to do it!

I think we all have been in a situation where we thought they would do it one way, but actually did it different. 

Sorry that you had to learn it they way you did!  Wheeeew!  :)

 

-chris

August 24, 2010 12:56 PM
Rainmaker
1,520,404
Dorie Dillard
Realtor-Canyon Creek- NW, Austin TX Homes For Sale
Coldwell Banker United Realtors

Good afternoon Chris,

Yes I have seen this time and again..not the way to approach an offer or repairs. It's up to the seller to decide what they want to do!!

August 25, 2010 01:35 PM
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Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Dorie - So true!  :)  Good afternoon to you too!

August 26, 2010 03:52 PM
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