Laura

Is perfectly correct. It is not fair but we also do not know all the facts. The business is hard and the agents are trying to the best for everyone and someone gets the home. Do not give up you are considered 1st back up in this position do not throw up your hands unless you find something you like better.

Michael Benninger
BenningerTeam.com

Hi K,
My question would be "Did that agent have an ACCEPTED OFFER with buyers and seller signatures on it at the time yours was submitted to him? Whether it was his buyer or not he legally has to present all offers! Secondly if the agents buyers offer hadn't been accepted by sellers at the time he should have given you a "Counter Offer with Multiple Counter offer box checked"
to give you and his buyers the opportunity to come in with highest and best offer.
In a short sale situation this is more difficult because the first offer is usually the one sent to the bank and some banks don't want more offers sent to them until they get to the negotiating table and have had the home appraised.
Good Luck,
Laura Baron

My point is, this is much bigger than the situation below! If you haven't run into a greedy, double ending, won't call you back, agent you are very lucky. In good times and bad, they are out there. They are a pariah to the industry, and are the main reason for are used car salesperson status in the world!

I'll re-address this scenario once again, before getting any of my peers below angry with me, for giving the listing agent a "benefit of doubt". In your original statement, your words are: "the listing agent would not submit our offer because he said he had his own buyers".

Did you hear this statement directly from the mouth of the listing agent, or from your agent? If, from your agent, did he or she hear such a statement directly from the listing agent's mouth, or POSSIBLY misinterpret something the listing agent said - such as "we already have an accepted offer" which usually means that the property is closed off from "accepting" an additional offer. ( Subsequent offers can be received, just not accepted, which is a huge difference.)

If the listing agent DID make such a statement, they would indeed be not only wrong, but, in my humble opinion, quite stupid. In today's market there are a LOT of agents who are not only limited in their experience, but limited in their knowledge. Many of these type of agents are being quickly flushed out of the system - or soon will be if they are, indeed, pulling shenanigans.

The bottom line seems to be that you now have an acceptable offer, subject to the cancelation of the prior offer, so you seem to be in a good position to secure the property.

One final word on the subject, just because the listing agent has apparently re-opened the property to you, if the original buyer satisfies any reason the seller sought to cancel, they could STILL be, and remain, in first position, so I wouldn't count your chickens until that cancelation has been completed. Good luck with your purchase.

I would like to think the the Listing Agent is acting properly, in that he is avoiding a conflict of interest. In Georgia, we must "present all offers". Also, it appears to me that he is protecting the Seller, keeping them from having to contracts on one property.

He already represents the Seller. Representing the buyer and seller, in Georgia, is called Dual Agency. Although legal, at Metro Brokers /GMAC Real Estate we do not offer Dual Agency, since is may cause confilcts. Rather we do designated agent (refer/assign to the buyer to another agent). Or if the buyer prefers they can represent themself, and we do "ministerial acts", basically fill out the paper work, while still representing the Seller.
As a buyer you should find your own agent to represent your interests. Email me if you would like a reference to a buyer's agent in your area. randy.ballard@metrobrokers.com

Bob

How is anyone jumping to conclusions when the question clearly states that the listing agent told them he had his own buyers?

Tony

Maxine is right on.....sellers need to be aware of all offers.

Bob....since you mentioned me, when you read the question it clearly indicates that the listing agent wanted to show his buyers offer first. So on that assumption....my answer is correct. At least that's how I would handle it. But we find on this site that there are many agents out there who do things differently. That's why it's so important for the buyers and sellers to make sure they have a good understanding of their agent and how they work.

Karen

It doesn't make any difference - "All Offers are To be Presented to the Seller" - if there are other offers on the table or negotiations are going on on another offer, or even if the seller has accepted the other offer....it doesn't make any difference - "All Offers are to be presented to the Seller" - now ...depending on where he is the seller may not be able to answer or respond - but there are LOTS of reasons that he needs to know that another offer is on the table....other than it is his agent's responsibilty by law, even if he has accepted another offer, it may not close, for some reason it may fall thru. Now the agent should also inform you that there are 1 or 2 or whatever offers on the table already (if there are) and he can't tell you what they are for but in fairness should tell you that you have competition.

Max Allen - TRI-Group Realty, L.L.C. Georgia

Do you know if it’s a "short sale" or "bank owned" property? What was the “status” of the property at the time of your offer (active or back-up)? I know one thing…that all offers have to be presented!

I find this to be repulsive. The best offer should be the one to be accepted. As an agent I would be in favor of making double ending illegal. I think it would remove the greed factor in situations like this. The hard part about putting an end to double ending is where you draw the line. Would two agents who work for the same broker be able to do a deal together? I don't know. Maybe someone can answer that for me. I truly believe the real estate world would be a better place if double ending was abolished. I'm sure there's 100 reasons why this will never happen. I just can't think of any legitimate ones. Sound off people!

It sounds like you ( and/or your buyer's agent.) may be jumping to conclusions that the listing agent had "their own buyers". They might have already accepted an offer - from another agent's buyers, before your offer was submitted, and just not had time to report that pending sale to the MLS, as they are "supposed" to do.

Later, if that "escrow" started getting shaky, or turning sour, the listing agent might have re-opened the listing to the market, while waiting for the cancelation paperwork to process, which typically takes a few days. Technically, they cannot officially accept a subsequent buyer's offer until that cancelation paperwork has been signed by all parties. You may have been fortunate to have been still waiting in the wings.

There is nothing fishy or illegal about the sequence of events that I've just described, and I would submit that an occurance is common practice, and happens often.

Hi,

Yikes...this agent is definately doing the wrong thing for his seller. If your offer was higher and he only showed them a lower offer, he is risking his license. I would have your agent look into this.

As far as the counter...it sounds like a true back-up offer, sounds like this is a short sale and they are not going to open escrow. Normally they would write something like "subject to cancellation of current escrow" in this case they don't seem to have an open escrow.

I certainly wouldn't sit around and wait for this one...the listing agent is not very ethical and you might run into more problems if you go through with it.....

Sorry

Karen