Home Buying in Philadelphia>Question Details

Danny Thomas, Real Estate Pro in Philadelphia, PA

What rights does a regular buyer like me have Or who should i report to if the listinga agent does not keep his words on the agreed sale price ?

Asked by Danny Thomas, Philadelphia, PA Mon Apr 30, 2012

My buyer agent (TONY) at Remax Access and I both agreed at the selling price at $67,000 for the property 4220 j st,pa 19124. We scheduled to write up the sale agreement at the house at 5:45pm today. Toni called to let me know that the listing agent Stanislaw Furtek wants $70,000 instead of $67000. I told Toni 3 times yesterday to tell the listing agent we verbally agreed at $67,000 and we will write up the sale agreement first thing in the morning. Toni said that he is busy in the morning. We can write up the sales agreement at 5:45pm. But they want more money at 3pm before 5:45 pm today. I told him we both agreed at the selling price at $67,000 as you told me the seller agreed to sell at this price. But he said since we have not signed the paperwork Nothing he can do. It is so UNPROFESSonial work ethic from them I always have had very good real estate experience with my long time agent Barbara Fattore and the Broker at Remax 2000. But this 2 agents do not keep there words. Thanks Dan

Help the community by answering this question:

Answers

9
If it is not in writing it doesn't matter. The seller can only be held to a written agreement. If you are unhappy with the agent on either side then complain to the Broker.
0 votes Thank Flag Link Mon Apr 30, 2012
Hello Danny,

We understand your frustration, but, when the offer is presented, agents do what sellers tell them to do in terms of price. The seller is usually driving the price and agents have advisory voice on it.
I'm sorry about you missing on the 67K price, but, when negotiating - you got to move fast and sign the offer as fast as you can, if the price is agreeable to you.

It's important how this info was presented to you - but we weren't there to have the right to judge the
agents in question, and there are always two sides to every story.

Best of luck with your purchase,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Mon Apr 30, 2012
Hi Phillips, thx for your answer. As i mentioned in my quesrion. I have always had very good experience with my long time agent Barbara Fattore. She always represent me as the buyer agent and she is the true professional agent and she knows as a good buyer after so many transactions we dealt before. I wished she was available for this deal due to her health. Other i would end up this hassle.anyway i just chose the wrong agent i dont mean to cricitze him but hate to go thru this unnessary hassle if i can avoid.thx
0 votes Thank Flag Link Mon Apr 30, 2012
Dan I'm sorry you feel the way you do. I'm not going to take sides but why not make your offer in writting with an Earnest Deposit of at lease 5% so the Seller can see and understand that the offer is real. If you have a written Buyers agreement with the Agent then he should make the offer in writting WHEN you want to or he can ask his BROKER to help him out if he is too busy. Like others said you can make the offer but the Seller DOESN'T have to accept it. At any time the Seller can change his mind and raise the price or take the property off the market before the offer is accepted in writing you agent should have explaned this to you.
Philip J. Cunningham Sr
V.I.P. Realty Corp.
7942 Bustleton Ave
Philadelphia,PA
215-725-5700 X49
Web Reference: http://www.GreatPaRE.com
0 votes Thank Flag Link Mon Apr 30, 2012
Thanks all for the feedback. The listing agent and my buyer agent work in the same office. My buyer agent told me that the listing agent said the seller agreed to sell the house ar 67k. My first offer was at 65k and then i decided to agree their asking price at 67k.my buyer agent did ask me all info to put on the sales agreement sush as buyer names and closing date,$1,000 deposit check ready for the write up via text messages and phone. I am no longer interested their business and services.just want to hear all advices from RE experts.Thx much....
0 votes Thank Flag Link Mon Apr 30, 2012
the listing agent should not be setting the price, he should have just been relaying what the seller told him to say. If that is the case, if it isn't in writing, it didn't happen. Now if the listing agent was saying it on his own, complain to his broker and possibly the grievance committee of the local Association of Realtors. Even if the writing was in email form, it would carry some weight. Ultimately, it's the seller's decision on how much they want vs how much you are willing to pay.
Did you write it up at 67 and the seller refused it or countered?
0 votes Thank Flag Link Mon Apr 30, 2012
Danny It sounds like the seller slept on it and wants more money. Until it's in writing there is not much you can do. In my opinion 70k is not bad for that property.

That said send over a formal contract at this point to get it in front of the sellers eyes so they can see
a real offer in front of them. Maybe they'll reconsider.
0 votes Thank Flag Link Mon Apr 30, 2012
You can still write the offer as your requested. The seller isn't obligated to accept it verbally. If you feel you have been wronged chat with an atty. Sellers often change their minds. I have seen it happen myself. They key is to get everything on paper.
0 votes Thank Flag Link Mon Apr 30, 2012
Danny,

Let's make one thing perfectly clear, neither agent can agree on a price. Only the Buyer and Seller can agree. If you did not have an agreement with the Seller then you only had an offer.

I agree that neither agent should have given you the impression that an agreement was in place until it was confirmed with the Seller. Perhaps it was just a misunderstanding. Either way, you and the Seller are not that far apart. I would keep negotiationg until you reach an agreement.
0 votes Thank Flag Link Mon Apr 30, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer