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Broker conflict? Sign In/Join 
Picture of KG in CA
posted
New question re DS trying to buy first home. He told me this morning and said he placed a bid on a home last night. The response was that he would get the nod if he used their agent's broker??? Is this OK? Thanks a bunch!


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Posts: 7500 | Location: Highland, CA Zone 9b  | Registered: Sep 18, 2002Reply With QuoteReport This Post
Picture of real estate lady
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Highly recommend buyers' use a "Buyers' Agent.

Remember a sellers'agent (Listing Realtor) job is get the highest and best price...and a buyers' agent (selling agent) is to get the lowest and best price.
 
Posts: 9242 | Registered: Aug 14, 2007Reply With QuoteReport This Post
Picture of Charming
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That is not an okay response if it came from the listing agent.


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Posts: 3466 | Location: Coastal SC | Registered: Jan 10, 2006Reply With QuoteReport This Post
Picture of KG in CA
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The buyer's agent said said the seller's agent will skip your offer and wait for someone who will who will accept their terms...
My son is worried that this is the only way he will get into a house...

,

This message has been edited. Last edited by: KG in CA,


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Posts: 7500 | Location: Highland, CA Zone 9b  | Registered: Sep 18, 2002Reply With QuoteReport This Post
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KG
That's unethical and probably illegal and to say that to another agent is well beyond professionalism. Your sons Realtor should be reported to the local realtor governing board and file a grievance, as there's usually a written code of ethics that Realtors are to abide by. Is your son's agent a licensed agent with a local real estate firm?
 
Posts: 3107 | Location: Michigan and sw Florida | Registered: May 16, 2007Reply With QuoteReport This Post
Picture of KG in CA
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Just to clarify - the seller's agent is stating this. My son is the buyer.


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Posts: 7500 | Location: Highland, CA Zone 9b  | Registered: Sep 18, 2002Reply With QuoteReport This Post
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But your son is using a licensed Realtor acting as his buyers agent aside from the selling agent correct? If so, my info still stands. This is a reportable offense- failure to accept an offer. Only leg selling agent stands on if owners have it expressly written into their listing contract that all offers expressly come from listing agent, no one else. And I doubt any self respecting Realtors association would accept those terms on a contract in their MLS system.
 
Posts: 3107 | Location: Michigan and sw Florida | Registered: May 16, 2007Reply With QuoteReport This Post
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Don't you mean that the sellers agent should be reported. I do not see anything wrong with what the buyers did. He just relayed information.

I am so sorry this is happening to your son. I think he should forget this one. If they are unethical about this what else are they going to be less than honest on?
 
Posts: 6978 | Location: North MN & Northern AR | Registered: Oct 01, 2002Reply With QuoteReport This Post
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Absolutely I meant the sellers agent should be reported.
 
Posts: 3107 | Location: Michigan and sw Florida | Registered: May 16, 2007Reply With QuoteReport This Post
Picture of Charming
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In SC and I think most states, the listing/sellers agent is required to present ALL offers to their client. That does not mean they have to treat all offers equally, but ALL offers must be presented and not to present an offer is an offense in my area.

He should insist that his agent follow through and ask why if he refuses. It has been my experience that an agent does not know what a seller will or will not accept. A professional agent will counsel their client about a real estate offer is a business transaction, not a personal attack on them or their home.

I have had the pleasure of making some really stinky offers for my buyers and have had them accepted with little or no blowback from the seller.

This message has been edited. Last edited by: Charming,


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Posts: 3466 | Location: Coastal SC | Registered: Jan 10, 2006Reply With QuoteReport This Post
Picture of real estate lady
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HERE'S AN INTERESTING THOUGHT...is the buyers agent with the same office(agency) as the listing agent?

Who wrote the contract? Listing agent or buyers' agent? Missing pieces here.

This message has been edited. Last edited by: real estate lady,
 
Posts: 9242 | Registered: Aug 14, 2007Reply With QuoteReport This Post
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Did the listing agent tell this to your son or to your son's agent? Your son and his agent need to have a discussion with the broker your son's agent works for.
 
Posts: 518 | Location: mi, usa | Registered: Apr 10, 2003Reply With QuoteReport This Post
Picture of KG in CA
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I don't have much new info. Still waiting to hear what happened. My son's agent apparently made the statement that they could make an offer but that the listing agency would likely not respond. It was conveyed to me in a tone like this is common practice with this listing agent.

There were open houses on Sat & Sun and the outcome will be announced by Thurs. What I suspect is that if my son made an offer, this would be disclosed to interested parties and they would offer higher...there will be other interested parties...I hope he went out looking at more homes last weekend...

ETA - The seller's agency wants the financing done through their lender....
.

This message has been edited. Last edited by: KG in CA,


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Posts: 7500 | Location: Highland, CA Zone 9b  | Registered: Sep 18, 2002Reply With QuoteReport This Post
Picture of real estate lady
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the sellers' agency wants financing through their lender --"illegal to require"..in our state.

Listing agency would likely not respond --
- all offers must be submitted to seller by law in our state .Agent comment may denote
low offer( or son may not qualify for loan in that amount and must may a lower offer),... and the seller may not counter offer or counter at full price...in disgust.

Illegal for Realtors to share offer info....in our state.

Your son really needs to understand his conversations with his Realtor, and get clear on practices. Sounds like many of your statement are "guessing"..not practices.
 
Posts: 9242 | Registered: Aug 14, 2007Reply With QuoteReport This Post
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In your sons case it could be that both agents are in the wrong. This is a link that discusses CA real estate ethics.

http://www.dre.ca.gov/files/pdf/refbook/ref03.pdf

Some local communities here offer classes that prepare first time buyers to look for homes, I recommend your son look around for one. If he is understanding his agent correctly then he needs a more aggressive experienced agent.

I suspect that what the listing office wants is a "pre-approval" through a certain lender that they trust. Not that uncommon here, and of course that lender is hoping to gain a new client.
 
Posts: 518 | Location: mi, usa | Registered: Apr 10, 2003Reply With QuoteReport This Post
Picture of Charming
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Wow, I think your son should back off this particular house and look around because he has a lot to learn. As REL and Lakelark already commented - he might not be understanding what he is being told. Like any specialty area - Real estate ahs its own language.

From the sound of your last post the listing agent is trying to get a multiple offer situation. If so, quit now, he really does not want to get into a bidding war, imho.

As REL posted - the listing agent cannot disclose what anyone has offered, but will often say highest and best, etc. to try and get the offer up.

As Lakelark commented - look around for a first time home owners class. If none are available - interview several agents until he finds someone who speaks English to him and not jargon.

This house even if he loses out - will be a good learning experience for him.


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Posts: 3466 | Location: Coastal SC | Registered: Jan 10, 2006Reply With QuoteReport This Post
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quote:
Originally posted by Lakelark:
In your sons case it could be that both agents are in the wrong. This is a link that discusses CA real estate ethics.

http://www.dre.ca.gov/files/pdf/refbook/ref03.pdf

Some local communities here offer classes that prepare first time buyers to look for homes, I recommend your son look around for one. If he is understanding his agent correctly then he needs a more aggressive experienced agent.

I suspect that what the listing office wants is a "pre-approval" through a certain lender that they trust. Not that uncommon here, and of course that lender is hoping to gain a new client.


Yes very keen to join first time buyer classes as you mentioned because I'm also planning to buy a property/home soon. And believe me your link was very helping in all this.


http://www.bremonthomes.com/ - Designed for living.
 
Posts: 7 | Location: Ontario | Registered: Mar 25, 2014Reply With QuoteReport This Post
Picture of KG in CA
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I don't know what has transpired in any detail, but DS say he did get the house and is working with HIS original agent. Perhaps she is an experienced lady and knew what to say & do to cut through the seller's agency red tape...

It is not all said & done with the deal but this will be the end of THIS thread for my posts. I thank you all!


Summers are just this side of hell, but you don't have to shovel sunshine...


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Posts: 7500 | Location: Highland, CA Zone 9b  | Registered: Sep 18, 2002Reply With QuoteReport This Post
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Actually, Agents play a good role for quick sale of our property. But, We didn't completely depend upon the agent information. If it is possible, Better to contact the owner directly.



[url="http://quickcash4home.co.uk/fast-house-sale/"]Fast House Sale[/url]
 
Posts: 6 | Registered: Mar 17, 2014Reply With QuoteReport This Post
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Actually, Agents play a good role for quick sale of our property. But, We didn't completely depend upon the agent information. If it is possible, Better to contact the owner directly.
 
Posts: 6 | Registered: Mar 17, 2014Reply With QuoteReport This Post
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