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A friend wants to put a bid in on a house and her realtor doesn't want to submit the bid because she feels its too low. Isn't this the seller's decision to refuse the bid if its too low, not the realtor? This realtor isn't the listing agent on the home.
The realtor makes their money based on the sale of the house. The more the house sells for, the more money they make. Ultimately the realtor is supposed to work for you whether you are buying or selling. I would get another realtor. I'm of that old fashioned mind set that says my money will spend any where, including real estate offices :)
There are some realtors that post here. I would deal with any one of them :)
I don't know all the circumstances here (foreclosure house, HUD house, estate home, etc.), but 95% of the time YOUR realtor is supposed to present YOUR offer, even if it's "low balled", if the seller is insulted or feels it's too low, they'll just refuse and may counter offer, then you'd get an idea of what they really want. Right now it is a buyers market as not much by volume is really moving unless the home is priced right for the area it's in. That said, get another realtor who's working for you! There are a couple of realtors on this forum, all honest & good, my wife is an Assoc. Broker/Sales for a large company here in WNY, they'd all be more then will to help you!Quote:
Originally Posted by cantaffordtolivehere
An agent values his time as much as the next guy. By refusing to write a low-ball offer he is saving himself a lot of time, and gently telling your buddy to take a hike (find another agent). I've done it myself several times. Sometimes the commission isn't worth the hassle.
Tell your friend to find a newbie agent who will write low-ball offers all day long for practice. Every party involved will win.
You don't need a real estate agent to purchase the property. Just contact the owners and make an offer.
If their listing broker has an exclusive he or she will get their commission regardless of whether the offer comes through him or her or another real estate broker, or just someone off the street.
Just make an offer direct to the owners. Before doing so send a letter to the agent confirming that the puke wouldn't present your offer so that they can't claim a commission if the seller accepts your offer.
WHENEVER...I am in the market for a property...99% of the time I contact the listing agent of the property I am interested in, and have that individual show me the house...and if I decide to make an offer , it is presented by the LISTING agent...my experience is that the listing agent/ realtor is most motivated ..when the commi$$ion is not split with another realtor/agent.:D
This is a newbie agent. It turns out that her broker is friends with the owner of the house and doesn't want an insulting offer coming from his office. The house isn't listed with his office. 190K asking, offering 160K doesn't sound insulting to me.
All they can say is no.Quote:
Originally Posted by cantaffordtolivehere
Tell your friend to get another realtor. When a realtor refuses to put in your bid then that realtor is looking out for them self and no one else. remember, realtors will say anything to make their cut (money). also, if you go alone and meet the owner you may run into big troubles that would place you over your head.
Uh? Like what type of "big troubles" do you perceive a real estate agent would help you avoid? I could train my cat to pass the real estate agent's licensing exam. If it weren't for the mortgage interest and real property tax deductions, most of them would be starving or on food stamps. Those two deductions are nothing but welfare for real estate agents.Quote:
Originally Posted by Riven37
Just thought I should update everyone on my friend's situation with her real estate agent. She did use another agent that presented her low bid. There was a counteroffer and she agreed on it. She has closed on the house and is living happily in it. Too bad that her original agent didn't submit her bid; she lost out on a commission. Thanks for the advice as I did pass it on to her.
If you ever need another agent just ask.. I know someone who if very qualified for commercial property and someone who is excellent on the residential side.