Home Buying in Los Angeles>Question Details

Pearl, Real Estate Pro in Los Angeles, CA

Is it negligence on the Realty Office to not have included me in the Counter Offer so that the Buyer could see ALL Offers? I may have been the

Asked by Pearl, Los Angeles, CA Sun Mar 30, 2014

highest bidder and the best qualified buyer and now we will never know....Agents, get your acts together and your BOSS should have insisted that you BE FAIR and get the Counter Offers to all offers over asking....and even all other offers so that everyone has an equal chance!

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Please don't shoot the messenger: the Realty Office does not decide who gets a counter.

The BOSS, also known as THE SELLER, decides whom they wish to counter (or not) and The Seller has absolutely NO obligation to 'BE FAIR' to you.

Sellers in the Southland are getting multiple offers, especially if the property is desirable; so instead of whining, your energy would be better spent asking your agent what would make your offer more attractive to the seller and following their advice.
3 votes Thank Flag Link Mon Mar 31, 2014
I am not whining.....Trevolyn. I am stating facts.
Don't twist the words to suit the Agents.
I don't ask for the seller to be fair; I want the Agent and her Office to play fair with all Buyers.
The Seller in this case lives out of the country. Does she know what has happened in the LA Market these past two years?
There are a lot of vacant condo/apartment properties in the Brentwood area, waiting for a tenant to rent them. Once you start seeing a trend of many vacancies and many properties not selling as quickly as one month earlier, I say I will wait now and see how the trend goes from today. I am not whining. I am stating a scenario where a property appears to have been low-balled. I went over asking price so I am well aware what the market expectation is. BUT, I will not put myself in a position where this same property can go down in value just as quickly as in past cycles. I have been there, done that.
Flag Mon Mar 31, 2014
Sorry Pearl,
You had the expectation of playing 'pattie-cake' with the seller, however, they had a different expectation. Offers presented to a seller that reflect the buyer is not serious and have a game plan of playing an extended game of 'pattie-cake' are kicked to the curb IMMEDIATELY.

Sorry, such offer are undeserving of the time required to respond. It is very likely YOUR offer included a respond by date, which means you included a built in response, which was the intent.

No, you will NEVER be entitled to know what offers, if any, have been presented to the seller. EVEN if you were so advised, you would be here on Trulia accusing the sellers agent of 'fabricating' the offer to get you to raise your purchase offer. It matters not what the issue is, when buyers or sellers experience disappointment of unrealistic inspections, the agent gets blamed EVEN when the agent provided prudent guidance which was ignored.

What we do know is those who experience disappointment because their expectations do not align with reality ALWAYS look for someone else to blame. Reconnecting with the reality of the real estate market in Los Angles may be the step you need to take to 'GET YOUR ACT TOGETHER.'

Life is rarely fair to those who disconnect from reality. If you want to buy a house, make a serious offer. You can't win if you don't know the rules.

IT is FAIR. The loser, however, rarely thinks so.
2 votes Thank Flag Link Mon Mar 31, 2014
Dear Pearl,
IF you were "included" or not, you would never have seen the other offers.
It's unfortunately not the Realtor, but the owner of the property . ( The Seller,)who makes the decisions on what offers to accept, and which to counter. They are not required to respond, and often will ignore a poorly structured offer. It does not matter where the owner lives, a savvy property owner would know all about the current market, and that's precisely why the house was listed now.
In this market you desperately need an excellent Buyer Agent if you want any hope of getting a desirable property. Your frustration is understandable, but direct it at the current market...not the hardworking Realtors.
1 vote Thank Flag Link Mon Mar 31, 2014
Pearl:

There is no law that says an offer MUST BE countered. When a buyer presents an offer, the seller has the right to reject the offer, counter the offer (which is a form of rejection of the original offer), or accept the offer as written. They may counter one or more offers. Or they may reject all offers and wait for something closer to an offer that meets their needs. Sellers may also instruct their agents to only show them offers which meet certain criteria. So, if your offer did not meet the Seller's minimum criteria then their agent was following their instructions if your offer was not countered.

As I stated in my prior response, there is more that goes into a Strong Offer than just price. When you write your next offer on a property, make sure you tailor it to the Seller's criteria.

Good luck.
1 vote Thank Flag Link Mon Mar 31, 2014
Annette Lawrence,
Please stay in Florida!
I am a serious buyer.
"Pattie-cake" and "disconnecting with reality"?? Really?
"do not align with reality"??
I sure would never work with someone as disconnected as you!
This is not a Therapy session. This is a Purchase Offer. Are we even talking about the same topic?
Flag Mon Mar 31, 2014
C'mon now...tailor it to the Seller's criteria?
Who would know this best but the Seller's Agent and she did not say anything about tailored criteria to my Agent when he did contact her or he would have written it even more to their liking! My Agent is a pro, working in this industry for a long time. I respect him and I trust him.
It appears that the Seller's Agent may need some lessons in goodwill and client relations.
There is no law but there is a reputation that an Office should maintain. There is goodwill and respect that should be shared between Agents. My Agent is a knowledgeable Agent who has been in this business for some 25 years. He is well aware of how these things wotk and he would have told me what the next step would have been had he been notified in time to take advantage of a next step.
Flag Mon Mar 31, 2014
No, it's not negligence and no one did anything wrong. The seller's agent's job is to get the most money for the seller, not to be fair to you. They don't work for you.

When you want to buy a home the best place to start is to hire an EXCLUSIVE Buyer Agent, not just a Buyer's Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. I can refer you to an EBA in your area, if you like.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home and get a mortgage without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.HelpUBuyAmerica.com
1 vote Thank Flag Link Mon Mar 31, 2014
Pearl,

In a follow up, I live in the Westside and work in Brentwood. Your agent should have know about the offer and counter offer scenario was. Now, as to negligence? That is something that I can't answer. It may have been inexperience on part of your agent, or they wrote a bad offer for you. You won't know, until,the property's closes escrow and you can see some of the details of final price, all cash or type of loan, and how soon it closed. This is information easily obtained by agents through title company.

If you have a bad feeling with this agent, get a new one. There are properties coming out in Brentwood and you'll find the perfect home.
1 vote Thank Flag Link Mon Mar 31, 2014
I agree, that doesn't seem right to me either.

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0 votes Thank Flag Link Thu May 1, 2014
Most of the time agent are given a multiple bid form telling a buyers to give the sellers the highest & best offer, that way the seller can work with the top offer ,usually the seller doesn't want to respond to 20- 30 offers that come in over list ,it is to overwhelming for them,it is a shame for the buyer ,good luck !
0 votes Thank Flag Link Mon Apr 7, 2014
Multiple offer situations are always stressful - and they're now the norm in my market so everyone is super stressed! It's always interesting to be the seller's agent when there are multiple bids because it's the only time you see how all the buyers are thinking.

I always advise buyers to not assume they'll get a second chance. That means you want your initial offer to be very strong - almost as strong as you want to be in the end with a bit held in reserve in case you get the opportunity to better your offer. And if you've come close to your max on a property and still weren't in the running then it's time to move on.

When you are on the listing side and get to see all the offers you can see how they fall out. Typically they're in tiers - the group that's too low to be in the running or otherwise have undesirable terms, etc., the middle of the pack group, and the stellar offers. If one isn't a clear winner it often makes sense to go back to just a few of the offers - those that are super strong relative to the rest.

In my market there are a lot of cash buyers. You mention that you might have been the "best qualified buyer". That should have been clear in your original offer - not something to be discovered later.

It's always very disappointing when you don't prevail in a multiple bid situation. It's the seller's choice re responses and sometimes that choice can seem arbitrary and even nonsensical. Uusally it's the offer with the best price and best terms but sometimes it's not even that - it's something else that's important to the sellers. All you can do is to continue to put your best foot forward and move on to the next property - it sounds like you're in good hands with your agent.

I just read one of your replies to a response below. Maybe this isn't the market for you. If you're concerned that values are too high - and therefore writing offers that are too low relative to your competition - then it shouldn't be surprising that you're not getting a positive response. Complaining about the process and the players won't help.
0 votes Thank Flag Link Mon Mar 31, 2014
Your agent can ask the listing agent to get the " Seller rejects Buyer's offer " checked and initialed by Seller on your submitted contract.

In this way ,you can make sure seller have seen your offer. And if seller have seen your offer but only counters another buyer's offer then you know it's merely seller's decision not your agent's negligence.

Seller may counter offer the contract that he or she thinks the best. Not necessary the highest offer. The strongest offer to seller could be" lower cash offer without any contingency ". Or an offer from a buyer who "appreciate the luxury and has same taste ", ,,,,,,or a personal letter from a first time buyer reminds seller's first time buying ,,,,,
0 votes Thank Flag Link Mon Mar 31, 2014
Seems like the seller just did not like your offer. It could of been so much lower that they did not even bother. Just send me an email if you have any further questions.

Alex Greer
Loan Officer
NMLS #1056079

http://www.TheMortgageOutlet.com
408-352-5147
AGreer@TheMortgageOutlet.com
Flag Mon Mar 31, 2014
I had no contingencies. Did not request a termite report either. I sent the personal letter too. The letter was property specific and well written and honest.
There was a counter for three offers as per the Seller's Agent.
How about that?
Flag Mon Mar 31, 2014
The listing agent works for the seller and does not show any buyer any other buyers offer. Some sellers will ask for highest and best from all buyers and some may only choose to ask 1 buyer for their highest and best. The best offer is not always the highest, an offer with no contingencies is best, cash is better than getting a mortgage. A lot of sellers will take less for a guaranteed sale. Your buyer agents should have pressed for the other offer amounts or details. Often they can get them agent to agent if done right.
0 votes Thank Flag Link Mon Mar 31, 2014
Sometimes the sellers agent will only counter the top few offers, especially if there were several offers. Your offer probably wasn't close to the other offers so they left you out of the counteroffer process. It happens. Don't waste you time being angry, go find another condo and make your offer so strong that you cannot be ignored.
0 votes Thank Flag Link Mon Mar 31, 2014
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