Why is it that the LISTING agents refuse to return calls to Buyers agents ON NEW LSITINGS? FICO 812 NO contingencies. PREQUALIFIED NO DEBTS.

Asked by Sarah G, Lodi, CA Wed Jan 1, 2014

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9
Lance King, Agent, San Francisco, CA
Thu Jan 2, 2014
First, sellers are not required to put properties on the MLS. While it may be frustrating for some buyers, particularly if your agent isn't plugged into the off market inventory, there are a lot of reasons for the seller to approach it this way.

Second, using the listing agent is a bad idea. You want an agent who is looking out solely for your interests. And if the listing agent knowingly misrepresents the property, whether to you or your agent, you have cause for action.

And you are correct that oral statements don't mean much, which is why you need (with your agent's help) to do all the due diligence necessary - inspections, etc... - to make sure you know what is going on before you buy the property. And one other thing that most people don't know. You can go directly to small claims court for any issue up to $10K without going through the dispute resolution process.

My advice to you as the owner of a real estate company who works in an area that has a lot of off market listings and a lot of agents who seem to be a lot more concerned with looking out for themselves - find an experienced, reputable agent who has time to help you. You're much better off with someone like that representing you, even if you miss out on an off market possibility or two.

Best Regards,



Lance R. King – Broker/CEO
King Realty Group

BRE # 01384425
415.722.5549 - Cell
lance@king-realtygroup.com
1 vote
Annette Law…, Agent, Palm Harbor, FL
Mon Jan 6, 2014
Sarah in Lodi,
I'm confused.
In your question you state, "agents refuse to return calls to Buyers agents ON NEW LSITINGS"
however in your expansion you state, "he will not complain to the association about these "pocket listings" because.... "
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Both of these statement CAN NOT BE TRUE at the same time.
If it is a "Pocket Listing" it is NOT in the MLS therefore, by choice, not being offered to EVERYONE via the MLS.
This was a choice the SELLER made, not the agent.
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So, Sarah, I'm obligated to ask, "How did you find out about this property?" Do you have a link?
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Finally, I rely on pocket listing HEAVILY. Guess what, these homes sell fast and fair.
You would be well advised to connect with a multi-dimensional professional who has conduits into the four invisible markets that PRECEDE the MLS.
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Be aware, this action is being driven by the irresponsible behavior of web sites like Zillow and Trulia. The best way to maintain control of the homes data, and not create great peril for the new owner (and eliminating potential litigation) is to rely on the network of MOTIVATED buyers and agents who wish to protect both the buyer and seller and bypass the anarchy of misinformation created when control of the data is lost.
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No one doubts your qualification to buy. However, that has little bearing on finding the best homes for sale. That depends on privilege of membership. Sign up with a LODI REALTOR and you too will get a "FIRST LOOK."

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://FirstLookHomes.us
0 votes
Michael Proc…, Mortgage Broker Or Lender, Modesto, CA
Mon Jan 6, 2014
I would assume the listing has been SOLD, and is still remaining as active on the different websites, good luck!
0 votes
Randy Elliott, Agent, Lodi, CA
Fri Jan 3, 2014
Hello Sarah,

I, like many other buyer agents, get very frustrated with no callbacks from listing agents. When that happens to me (especially if I'm representing a client), I usually will become an annoyance to the listing agent until I get a response.

I'll call, text and even go to their office in order to get a response.

Sometimes the listing agent is just very busy. Out of town. Dealing with personal issues like illness, or death in family. For those reasons I try to not be too abrupt until I find the 'real' reason for hearing crickets chirping.

No matter the reason, tenacity usually pays off and I get the answers my clients need.

Have your agent step-up their game with being more proactive on your behalf. That is unless they are trying all avenues already.

I wish you much success with your house hunting. Based on your listed credentials, you are a well-qualified buyer and hopefully your agent is working diligently on your behalf.

Happy New Year!

Randy
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Thu Jan 2, 2014
Hi Sarah:

Many reasons:

1.) Property has sold but is still Active on sites like Trulia, Zillow, Realtor.com

2.) Holidays, out on vacation

3.) Buyers agent wants to Double end a Pocket Listing, as Not on MLS, hence does not
have same rules apply.

Ruth
Web Reference:  http://www.ruthandperry.com
0 votes
Um, I think you mean "seller's" agent wants to double-end a pocket listing. Buyer's agent doesn't even know it exists.
Flag Mon Jan 6, 2014
Laura Coffey, Agent, Santa Clarita, CA
Thu Jan 2, 2014
Sometimes a listing is already sold but it still remains active on some sites and no "SOLD" signs on the sign. If the property is already in escrow unfortunately some agents are to lazy to call a buyer back just to tell them its SOLD.
0 votes
Alexander Gr…, Agent, San Jose, CA
Thu Jan 2, 2014
I assume that this is because of the holidays. Any seller would be more than happy to deal with a qualified buyer bidding asking price.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes
The Stephen…, Agent, Portland, OR
Thu Jan 2, 2014
CA has a real problem with pocket listings, but I hear some of the CA associations are trying to address the problem. I don't believe pocket listings are generally good for the industry. Best if the entire public has access to the whole market and pocket listings only reserved for unusual, rare situations.
0 votes
Sarah G, Home Buyer, Lodi, CA
Wed Jan 1, 2014
My Buyers agent says he will not complain to the association about these "pocket listings" because the complaint will turn all other agents against her. I am thinking either contact the seller DIRECTLY and cut all the sales people and MLS out or deal ONLY with the listing agent. If the listing agent also represents me and I later learn they lied to me, I have legal standing. If The listing agent LIES to the buyers agent...I can't sue the buyers agent if they "didn't know" the truth about the property. Each page of the CAR offer contract says DO NOT RELY ON ORAL STATEMENTS ....yet it is RARE that an agent will put ANYTHING in writing other than the listing agreement. WHO REALLY represents the buyer?
0 votes
How can you contact the seller's agent directly on a pocket listing that you don't know exists? Are you going to call every agent in town and ask them if they have any pocket listings?
Flag Mon Jan 6, 2014
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