Home Buying in Miami Shores>Question Details

The Boyz, Both Buyer and Seller in 94115

Continuation...Thank you for the indulgence!

Asked by The Boyz, 94115 Wed Jun 18, 2008

Expecially since this agent has the majority of the listings and we refuse to reward such behavior with our monies. Is he treating this as a "mining" listing? Was he attempting to keep the pricing from dropping further by creating an illusion? Whatever the resoning in my world it adds up to BAD BUSINESS. I am still contemplating filing a complaint with the FREB. Any thoughts?

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Franklin Farinas’ answer
As a real estate professional I understand your frustration. I believe both the sellers agent and your agent are equally frustrated.

I assume that the practice of real estate is the same or very similar across the country.

When a property is listed for sale it is presumed that the seller wants to sell.

When an offer is presented on a property for sale it is presumed that the buyer wants to buy.

The sellers agent's acts are dictated by the seller.

The buyers agent's acts are dictated by the buyer.

Whatever the sellers asking price and whatever the buyers offering price, each agent is representing their client's interest with the goal of finding terms and conditions acceptable to them (client).

There is no requirement for the seller to accept or counter an offer that is less than the asking price.

There is no requirement for the seller to accept or counter a full price offer if the terms and conditions of the offer are unacceptable to the seller.

Neither seller nor buyer are bound by any standard of ethics.

Real estate agents are bound by standards of ethics.

What you decide to do is what you decide to do.

Hope this information is helpful.

All the best,
1 vote Thank Flag Link Wed Jun 18, 2008
No body, no way, no how can MAKE a BUYER BUY, or a SELLER SELL. I'm a Realtor specializing in working with BUYERS, and I ran into a similar circumstance recently with a MAJOR ALL CASH OFFER for a condo on South Beach...except the Sellers would have grossed about a MILLLION BUCKS!! Turns out the sellers' realtor had developed "bad blood" with the sellers, and they rejected my buyers' offer. Then the sellers got another realtor, and accepted another offer for a simlar price. My buyers left town in a huff...to say the least, and MY name is mud with them! C'est la vie...or should I say c'est la guerre?
0 votes Thank Flag Link Wed Jun 18, 2008
Do you know if the seller had given permission to the listing agent to disclose the amount of any offers?
0 votes Thank Flag Link Wed Jun 18, 2008
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