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
336,589
Jennifer Prestwich
Your Castle RE Colorado
Henderson, Thornton, Broomfield and Westminster

Oh, yes, my friend, I have seen this.  For some agents, this seems to be the rule rather than the exception.  Several times recently I have heard the "there is NO way they are going to accept this.  Do you REALLY want me to present this?"  Um, yes I do, and by the way, it IS your duty to present it, whether YOU like the request or not.  

Keep smiling :)

August 24, 2010 12:19 PM
Rainer
52,590
Tiffany Wilson
SFR, First Time Home Buyers & Investors
eReal Estate Corp

I've actually had buyer's agents ask ME if their client's requests would get accepted-they were looking to me to make a decision.  I calmly remind them that I do not make the decisions, and that their written request will be presented to the Seller to respond.  And some of these other Realtors had some years behind them...

A "motto" I learned early on in the biz:  "Don't ever become bigger than the transaction."  I think in situations like you desribed, that is what happened.

August 24, 2010 12:21 PM
Rainmaker
343,388
Rodney Mason
FHA 203K, USDA, VA, HomePath Renovation Specialist
Prospect Mortgage

Agents just cant do the speaking for the buyers.  Buyers and sellers must make up their own minds as to what is acceptable.

August 24, 2010 12:25 PM
Rainmaker
508,668
Erika Rogers
St George Utah Real Estate & local info.
Re/Max First Realty

Hi Chris-it's crazy, but it happens all the time.  I agree with Tiffany, never become bigger than the transacation.  We need to remember we represent the sellers/buyers, not make their decisions:)

August 24, 2010 12:25 PM
Ambassador
491,152
Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Jennifer - Your post made me smile...  I can see/hear you saying it.  :)  I know that if I was in a transaction with you, it would ROCK!

August 24, 2010 12:30 PM
Ambassador
491,152
Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Tiffany - Really?  Hmmm...  Interesting!  And I agree with your motto!  :)

August 24, 2010 12:31 PM
Ambassador
491,152
Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Rodney - I sooooo agree!

August 24, 2010 12:31 PM
Ambassador
491,152
Chris Alston
Silicon Valley, California
Chris Alston (Keller Williams Realty, Cupertino California)

Erika - It seems that not all of us know/realize that!  Thanks for the comment!

August 24, 2010 12:32 PM
Ambassador
1,439,266
Liz and Bill Spear
RE/MAX Elite Warren County OH (Cincinnati/Dayton)
RE/MAX Elite 513.265.3004 www.LizTour.com

We've had those threats before...  the agent who is more important than their client or deal.  They can kill the whole thing by being a jackass.  Every offer is a starting point, some will come together, some won't.... but it better not be because the agent stirred the pot and killed it!

August 24, 2010 12:43 PM
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
Ambassador
491,152
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
Ambassador
491,152
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
1,590,399
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
Ambassador
491,152
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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Chris Alston

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