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Answers (10)
Best Answer
- Keith & Kinsey Schulz, "Keith And Kinsey"
- Contributions:76
It sounds like you aren't going to get decent service out of this agent. I would suggest using a buyers agent in the future to help things go more smoothly. Although, in this case, you could just go to the agents brokers office and drop off the offer. They have a legal obligation to present it to the seller.
- Reema Sharma, "ReemaSharma"
- Contributions:927
The listing agent is most likely holding you as third or fourth option as buyer. The agent probably has a better offer or is going under contract very soon.
- Jim Paulson, "BoiseREbroker"
- Contributions:327
In response to Grokster's comment, keep in mind that a buyer's agent can research the value and work with you to get the best price possible. If they knew the seller would come down 5% in price, they couldn't tell you that and by offering 1% less, you actually could end up paying 4% more than you needed to.
Also, some sellers require the listing agent to accept less commission if they sell the property themselves, so the buyer can't get them to come off at the same time.
I seldom drop my commission when selling my own listings since in this market, I can just wait for someone to sell it for me and I can sell the buyer a different home.
In my 20 years as a Realtor in Boise, I have learned that the agents that are quick to negotiate on their commission are typically not worth hiring since they really don't know how to negotiate for themselves, let alone for you!
Also, some sellers require the listing agent to accept less commission if they sell the property themselves, so the buyer can't get them to come off at the same time.
I seldom drop my commission when selling my own listings since in this market, I can just wait for someone to sell it for me and I can sell the buyer a different home.
In my 20 years as a Realtor in Boise, I have learned that the agents that are quick to negotiate on their commission are typically not worth hiring since they really don't know how to negotiate for themselves, let alone for you!
- grokster
- Contributions:27
I've informed Buyer's Agents that I will sign an exclusive agreement for the property only. If I am happy with their work.. then I will sign a longer-term agreement.
I too feel using the listing agent is a fine idea - you can drop your offer by at least a % - knowing they will be highly motivate to get the buyer to accept your offer (as it means more $$$s for the agent;)
I too feel using the listing agent is a fine idea - you can drop your offer by at least a % - knowing they will be highly motivate to get the buyer to accept your offer (as it means more $$$s for the agent;)
- Jim Paulson, "BoiseREbroker"
- Contributions:327
Price of the home should not matter when you are working with the right agent. If there was a 3% commission on the home paid to the selling agency that is still $60,000 x .03 = $1,800 paid to the office that helps you buy your home.
Yes, Realtor's like the more expensive homes since they are bigger paychecks and actually typically less work; however, I would be glad to work with any of your friends and co-workers since a $1,800 check still gets me motivated to return calls, emails and show property!
It is an absolute shame that the agent will get that just because they listed the home and did nothing else instead of someone willing to help you!
Hopefully you didn't sign their buyer rep agreement tying you to them for an extended period!
Jim
Yes, Realtor's like the more expensive homes since they are bigger paychecks and actually typically less work; however, I would be glad to work with any of your friends and co-workers since a $1,800 check still gets me motivated to return calls, emails and show property!
It is an absolute shame that the agent will get that just because they listed the home and did nothing else instead of someone willing to help you!
Hopefully you didn't sign their buyer rep agreement tying you to them for an extended period!
Jim
- 1Carioca
- Contributions:2
I would like to thank everyone for taking the time to reply and help me out. My feeling is that since my target price is under 60K there is not much incentive/commission for a buyers agent so by using the listing agent they will get both sides of the commission and present my offer as the best.
This was the first and only house I looked at with this agent and I did not know how his work ethic was and did not want to sign a 6 month exclusive contract with him or anybody at this time. I guess he did not like it.
Anyways I took the offer directly to the office and left it with the secretary (only person there) who was very competent and helpful.
Thanks again.
This was the first and only house I looked at with this agent and I did not know how his work ethic was and did not want to sign a 6 month exclusive contract with him or anybody at this time. I guess he did not like it.
Anyways I took the offer directly to the office and left it with the secretary (only person there) who was very competent and helpful.
Thanks again.
- Carol McAlister, "affiliatebrk"
- Contributions:17
Please understand.... you have NO representation. The listing agent represents the seller and their interests... not yours. You should have had your own "buyers agent" representing you in the purchase. As far as the offer, I would contact the Broker for that office and report what you experienced. That was very UNPROFESSIONAL of that agent. Then, I would select a reputable agent to submit the offer and nego. terms on your behalf.
As far as the Buyers Agreement, I don't show property to anyone that hasn't signed one. When you list a home, you sign a listing agreement and when you buy a home you sign a buyers agreement. This is to protect both parties and show loyalty between the two. If you are unhappy you can cancel the agreement at any time. You are not forced to work with an agent that isn't performing.
Hope this helps!! Carol
As far as the Buyers Agreement, I don't show property to anyone that hasn't signed one. When you list a home, you sign a listing agreement and when you buy a home you sign a buyers agreement. This is to protect both parties and show loyalty between the two. If you are unhappy you can cancel the agreement at any time. You are not forced to work with an agent that isn't performing.
Hope this helps!! Carol
- Jim Paulson, "BoiseREbroker"
- Contributions:327
You are absolutely right that in this market time is of the essence. That is why I have automated my real estate company to the point that I even prepare the offers online and email them to you for digital signatures so a clean copy can be delivered to the seller without me ever having to print the forms or go to my office to get them! You should always interview agents prior to signing an exclusive representation agreement. You can do agreements for a specific property as well. Short sales are an interesting niche in the market so make sure you team up with an agent that understands and is responsive! If you would like me to show you the interior and work up an offer, I would be glad to. Since you are obviously a buyer comfortable with using technology, you should work with a tech savvy agent or broker. Jim Paulson Owner/Broker - Progressive Realty Corporation 573-0471
- Cindy Quinton, "Cindy Quinton"
- Contributions:1322
You should have your own representation anyway! Most people don't WANT to use the listing agent, as he/she is committed to representing the owner of the listing.
Go find yourself a buyer's agent this morning and tell him you wish to make an offer on this home and want to use him to do that ONLY. You may have to commit to a not using a different agent for a period of 10 days, but beyond that, a buyer's agent should be willing to EARN your commitment.
I assure you, someone out there wants your business...
Go find yourself a buyer's agent this morning and tell him you wish to make an offer on this home and want to use him to do that ONLY. You may have to commit to a not using a different agent for a period of 10 days, but beyond that, a buyer's agent should be willing to EARN your commitment.
I assure you, someone out there wants your business...
- Don Greenberg
- Contributions:261
Exactly, I wouldn't worry too much about this, simply bypass the agent that is not giving you the customer service you deserve. Best off all, talk to the Broker of the company, he will teach the agent you are speaking of how to properly work deals!
I want to make an offer on a house. The agent has not returned calls or emails.
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