I take Scott's approach as well and ask lots of pointed questions, but many of these agents don't return calls and just expect you to submit your offer. Another approach is to just ignore it like the boy who cried wolf and continue the discussion as if there is no multiple offer. In the end, it really doesn't matter - your clients should decide what they are willing to pay and hold the line there. A similar statement I have heard is, "Well the seller's are pretty upset at your offer being so low." Yeah, so what? We get past that posturing and 9 times out of 10, they are signing the contract.
There will always be semi-pros in this industry. Don't buy into their games and you'll do fine.
CA DRE 01775528
Either way, as far as I know there is no way to really know for sure for two reasons
1. Forcing the issue and calling her broker for the facts will only create problems.
2. There would have to be a third party to step in because the broker might want to cover for the agent.
I agree with you, her actions make us all look good, but I will bet that she is busy and has lots of business. Ironic?
Make the situation work for you and your client, present a strong clean offer.
Also, is it possible that she is working with a template that she forgets to modify?
One major thing I've noticed is with REO listing agents, and I'm talking high volume agents. They "require" you to have your buyer sign an addendum before your offer can be submitted. But - these are not bank addenda - these are the agent's own addenda, and if you read them closely, it relieves them of the usual work involved in having a listing. No agent can presume what a bank/seller will or will not do. But, after speaking with CAR legal, no listing agent can require your buyer to sign anything that will benefit them personally before submitting an offer, it's coercion.
We need to keep an eye on all of these practices, and keep them in the public eye so agents and buyers are aware. We can't be "we don't want to rock the boat" agents, we need to responsibly represent our clients. We have to work for them.
Does anyone have any ideas on how to solve the misuse of the Multi-Counter Offer check box?
Soo irritating! I know exactly how you feel and there are always going to be "professionals" out there that are anything but, and persist in giving real estate agents and brokers a bad name. I would call her broker and voice your concerns.
I love Bill's comment, "The listing agent is a key component to a successful negotiation, and if they are going to lie in the opening salvo, you have to wonder what else will be misrepresented through the transaction."
That is exaclty the key. The agent relationship is built on a fiduciary duty and TRUST and if you are a liar in this industry, it can have very grave consequences indeed.
Bill brings up a good point about keeping your client(s) focused on what they are willing to pay for the property and advising them on being suspicious of the accuracy of the multiple offer box on this particular agent.
Let us all know how it works out, it would be helpful to know if we run across this situation.
Marcie Sands, REALTOR
Simply The Best Real Estate Co., Inc.
Glen S Etherington, Broker, REALTOR
CA DRE #01233723
The offers are "registered" on the property there.
It's an official thing. There is no fooling around.
That way we would all know what is really happening.
Transperancy. Wouldn't that be great? The negotiation privacy still intact...as the price are not registered.
If the agent in question underprices the listings to be more agressive and generate more traffic, as we all have seen in foreclosures or short sales, f.e. - then multiple offers are quite possible.
In our market, in SE FL, the bidding wars are way too common right now.
Beachfront Realty, Inc.
I agree with Tim that it is a local board issue. Rather than report her, ask the board for their input on how to handle the situation (without naming names). Have the board give you the rules regarding this and send them the the agent without any return information. Hopefully she will realize someone is watching and may only do it when she has multiple offers.
I suppose one way you can check her professional integrity is to decline to respond to one of her suspicious multiple-counter offer and see if she calls you.
I completely agree. She's blowing smoke. Some agents like to play the game to their liking and feel there is no way to get caught. Have you tried calling her to fish some information out of her as to where your offer needs to be? If not I'd try it, I can smell a liar a mile away and I bet you can too. Hopefully she'll get caught.
City Key Realty