Listing agent doesn't want my realtor to put my offer on a property.

Asked by Kellane Howell, Lake Worth, FL Mon Feb 14, 2011

My realtor is trying to put an offer on a property but the listing agent states that he already has 2 full priced cash offers. Five minutes later I called the same listing agent and he told me that he has no other offers on the property and that I can go ahead and submit my offer with him but that the bank sent him an email stating that they only want full priced offers. Is that unethical?

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11
Debra B Albe…, Agent, Port St Lucie, FL
Mon Feb 14, 2011
You should file an ethics violation on the realtor in question. A Listing agent MUST present all offers in a timely manner...it is the rule, and we all have to operate on a level playing field.

A realtor (maybe a real estate agent, not a REALTOR) who does not own the listed property can not make the decision.

The contract is between 2 parties...the buyer and the owner of the property...only those two people can negotiate the contract. Florida Real Estate law states that any offer will be presented in a timely manner.

Debbie Albert, PA
Keller Williams of the Treasure Coast
Web Reference:  http://www.ronanddebbie.net
2 votes
Marnee Brent, Agent, Jupiter, FL
Mon Feb 14, 2011
It sounds to me that the listing agent is trying to get both sides of the sale and is being extremely unethical! If you trust your agent is telling you the truth, have them file a compliant against the listing agent! I have listed many bank owned properties and they will always request a full price offer, does not mean they will get it or that they won't negotiate on a less than full price offer.
2 votes
Gino Herring,…, Agent, Cooper City, FL
Thu Aug 11, 2011
I agree with Ron and Debbie. Submit ALL offers. And we must always keep the code of ethics in our hip pocket. It is what keeps us professional, and what keeps our client's trust in us as professionals. Although the short sale process is slightly different than a regular re-sale, we still have to present all offers as they come in. Agents that are not being honest and truthful in transactions should be held accountable.

Gino Herring, SFR
1 vote
Jacqueline &…, Agent, Wellington, FL
Mon Feb 14, 2011
Absolutely. You should file a complaint with the FREC (Florida Real Estate Commission). Also, contact the listing agent's broker and let him/her know what is going on. Real estate agents are obligated to submit all offers, regardless of price, terms, etc. Let listing agent know you're going to file a formal complaint. If he changes his tune and says your offer will be submitted, ask for the seller's repsonse in writing.

Unfortunately there are a lot of unethical and uneducated agents doing business in South Florida. Everyone needs to take action and report situations like the one you're describing.

All the best,
Paul Morris
Gracious Homes Realty, Inc.
561-685-9457
1 vote
Anna Marie L…, Agent, West Palm Beach, FL
Thu Aug 11, 2011
Hi Kellane - Are you still looking for a home? Short sales can be very tricky, I can help if you still need the assistance of a qualified, professional realtor. If you are still interested in South Palm Beach County, Please visit my website for a free search account, where you can search the MLS just like an agent http://(www.realtorannamarie.listingbook.com) I would love the opportunity to assist you!
Anna Marie Losito
Velocity Realty, Inc.
561-662-5400
Realtorannamarie@gmail.com
http://www.realtorannamarie.listingbook.com
0 votes
Ron Thomas, Agent, Fresno, CA
Thu Aug 11, 2011
I don't want to; but I disagree:

We all know that many, many times, all offers are NOT presented,
and,
This episode is just another "HE SAID, SHE SAID"

I will be just a waste of time.
I would send a note to the Broker and then move on.
0 votes
Ray And Karen…, Agent, Mount Dora, FL
Tue Feb 15, 2011
Kellane,

Any seller can put stipulations on what type of offers they will look at.

Normally, those requirements or stipulations are made in writing.

Hope you get the home!
0 votes
Alma Kee, Agent, Tampa, FL
Mon Feb 14, 2011
Before filing a complaint, you really don't know who's telling the truth here...

Bottom line is if you want to make an offer, tell your agent to submit it immediately--regardless of what the listing agent may tell him or you.

And remember a Short Sale is not the same thing as a Bank owned property. On a Short Sale the Seller has 100% control over whose offer he will submit for approval. On a Bank owned, the listing agent has a responsibility to the Asset Manager to upload any offers he receives.

Good luck!
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Feb 14, 2011
This is a he said she said statement . Many more questions require answers .

YES you can have 2 cash full priced offers in less than 10 minutes buyers changed their minds THEY have to wait for a response from lender changed their minds !

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Alma Kee, Agent, Tampa, FL
Mon Feb 14, 2011
Have you agent submit your offer and ask your agent to get email confirmation back from the listing agent that it was received.

If you're making an offer on a Short Sale, there could be a lot going on. Unless the Seller signs your offer it will not be submitted to the bank for their approval.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Mon Feb 14, 2011
Laws vary by state so I can only say what would be true in my state. Here a seller, or in your case the bank since I assume it is a short sale you are working with, can tell an agent they will not accept any offer under $xxxx. It must be in writing!!!!!!!! So you can ask the listing agent for a copy of that. You can always contact the agents broker to get more information or answers.
0 votes
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