Home Buying in Montana City>Question Details

Montanamaven1, Home Buyer in Plano, TX

We have a Buyer's Agent. There are no good comparables because market is soft and there are no buyers. The Selling Agent is her own broker!

Asked by Montanamaven1, Plano, TX Mon Feb 7, 2011

We suspect the Seller is not getting good advice. After our last offer, the Listing Agent asked us to wait till Wednesday for Seller's response. In the meantime, she had a showing on Sunday! I am a Realtor and know what she is up to, but an helpless to stop her.

Listing Agent is using comps that are built between 2000-2008. Subject property built in 1989. Should I try to contact Seller?

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Dan’s answer
Go straight to the seller and let them know what price you would like to pay and that you will no longer be dealing with the agent. The seller needs to know that the agent is a very expensive liability.

I have influenced sellers to fire their agents and sell me their property. It works so much better with only a buyer, seller, closing attorney.

Btw, comps older than 3 months should not be considered.
0 votes Thank Flag Link Tue Aug 2, 2011
BEST ANSWER
I think she's shopping your offer, too. And the problem with this is . . . what, again? You're sixty thousand dollars apart, admittedly looking for a "good deal," and you think that the Seller is not getting good advice in not taking your offer?

Really, we're all eyes here. Explain how you are the wronged party here?
0 votes Thank Flag Link Tue Feb 8, 2011
Welcome to Montana, they have been ripping off out of staters during the boom and they think that they can still try these tactics in this economy. There are some good realtors here but lets be honest most of them think that if you are from out of state you will pay whatever they ask because that is what was happening until the economy went in the toilet. Most of these realtors were making money hand over fist and have not adjusted thier selling tactics to match the current economy. Also everybody here lost significant values in thier homes because the market was so inflated here. So you have to realize that even though you want and expect a good deal there is another story on the other side, of someone in dire financial trouble and it is hard for them (the seller) to make good decision when they are desperate. The only deals you are going to get here are the homes owned by the bank.
1 vote Thank Flag Link Tue Aug 2, 2011
Mack,

Looks like you just want to blow off steam. How many BUyers out there don't want a good deal, especially in a Buyer's market loaded with overpriced listings?

By the way, I was an active Realtor for fifteen years. My beef with the Listing Broker is that she never bothered to send back anything signed from the Seller. I'm not too sure she even tells him about our offers unless I have something in writing from him. Selling isn't about getting huffy (like you have). It's about being a professional and ethical. I haven't seen either from the Listing Broker/Agent,
1 vote Thank Flag Link Tue Feb 8, 2011
Montana Maven, what exactly do you want us to say? After fifteen years as an agent, how would you like a buyer bypassing their agent to call you up demanding that your client take twenty percent off the list price?

I'm not saying your objectives are misguided, just that you can't be surprised by a little pushback!

All the best,
0 votes Thank Flag Link Tue Feb 8, 2011
Hi, Sounds like the seller/agent is trying to get the most they can, which I understand. It's tough when the agent is also the seller because they feel they have the experience to know what the home is worth even if there are no comps. It all comes back to a home is only worth what a buyer is willing to pay. Holding onto comps from 3 years ago sounds like a desparate measure.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023
0 votes Thank Flag Link Tue Feb 8, 2011
Property has been on the market for over two years with no offer. Think it might be overpriced? I like your idea of asking my agent to be present with offer. Montana is a "no disclosure" state so getting comps is impossible. Realtors can tell me "about" sales, but I don't get to see them. The problem with the market is that there are no buyers and lots of listings. Sellers have a hard time looking at reality and sometimes the listing agents are abetting and defensive instead of working to facilitate a sale.

Our first offer was low, but our last one was good considering the condition of the property.

Thanks for your input.
0 votes Thank Flag Link Tue Feb 8, 2011
Your Buyer Broker has the right to be present when the offer is presented. Assuming you trust in your buyer brokers ability to present your case I would suggest you raise your offer a little and have your agent insist that they be present when the offer is presented to the Sellers. At the end of the day you may simply need to acknowledge that the Seller can ask anything they want, you as Buyer can offer anything you want and that it's possible that there will be no meeting of the minds and no deal. That's simply how it works. My experience of the past 25 years is that 98% of the time Sellers ultimately regret not accepting their first reasonable offer but then hindsight is always 20-20.

Consider having the property appraised and each of you could agree to abide y the appraised value.

The Listing agent may not have the finest ethics in the world, or even common sense but then all we have is one side of the story and perhaps you aren't be realistic with your offer either.

Good Luck.
0 votes Thank Flag Link Tue Feb 8, 2011
Bill,

She is the broker and she answers to no one but herself. She has most of the properties listed in this area and they are all overpriced.

It's just disgusting to be a qualified buyer that is looking for a good deal and get treated like we don't exist.
0 votes Thank Flag Link Mon Feb 7, 2011
"Two wrongs don't make a right."

Would you want another agent going behind your back to deal with your customer...it's simply unethical! A call to her broker may serve to accomplish the attention you need to get beyond this but don't get involved with taking any measures that would cause problems for youself.

Good luck,

Bill
0 votes Thank Flag Link Mon Feb 7, 2011
SEller's agent did not have an open house Sunday. SHe had a showing. I think she's shopping our offer. Seller has verbally countered at $450,000, then $460,000. Our offer is $401,000 based on age and condition of house. We're not even sure Seller knows what's going on. All we have are "words" from the Seller's Agent. Supposedly Seller is out of town and can't get to a FAX.

My feeling is that Selling Agent (also the Broker for her co) wants to sell it herself to one of her own clients. First she told our agent that Seller was ready to "walk." Then, when we offered the first time he wanted something with a "4" in front. When we offered $401,000 she told us he wanted $460.000. We still don't have anything but HER advice, nothing in writing from the Seller.
0 votes Thank Flag Link Mon Feb 7, 2011
You suspect the Seller isn't getting good advice because . . . the agent is trying to get more money for her client by shopping your offer at the Sunday open house? Help us understand your thought process here? Based on what you've written, heck no, you shouldn't contact the Seller directly! How far off %-wise is your offer?
0 votes Thank Flag Link Mon Feb 7, 2011
Montanamaven1

The listing agent works for the seller. Do you think the seller would taker your advice over their own agent?

This is a question you should be asking your own agent. If you don't feel comfortable with your agent's performance, voice your concerns. He/she is there to fight for you.

Oggi Kashi
Paragon Real Estate Group DRE 01844627
Web Reference: http://www.oggikashi.com/
0 votes Thank Flag Link Mon Feb 7, 2011
You've hired a buyers' agent to help represent you. If you want to contact the seller it might be best to coordinate that with your agent to arrange a meeting. It is not unreasonable to ask for justifications on pricing, or to show your list of comparisons. But the best tool you have is arriving at a price you feel comfortable with and being ok with Not getting the house if the seller won't meet you at that price.
0 votes Thank Flag Link Mon Feb 7, 2011
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