This month 3 Buyers I'm working with picked properties that were listed with discount brokers. All of the homes were listed $30,000 or more below market value so my buyers were very interested. The one on the market the shortest time had been on the market almost 150 days. I had over looked the listings because there were no pictures or 1 bad picture, limited information and difficult to work with agents. I couldn't believe I hadn't noticed these steals and I couldn't believe the other 1,100 in the area and 450 agents in my immediate area had not noticed the steals. I couldn't help but wonder if the sellers knew what fantastic deals their homes were. I thought I could get atleast $30,000 more per home if I had the listing.
HOW DID THEY CONVINCE A SELLER TO LIST SO FAR BELOW ALL OF THE OTHER HOMES? How did the agents get away with no pictures and no tour and no information? How could these steals sit on the market SO LONG?
The Agents have packages: 1% to the listing agent, and 3% to the selling agent. They do paper work. Then there is 2% to them and 3% to the buyer's agent. Or they have a 3% to the listing agent and 3% to the buyer agent where the do some of the stuff that full service agents do. Unless the listing agent gets both sides then they give 1% back.
House #1. The house had 1 picture in the MLS and no virtual tour. We went to see it and they loved it. I called the agent to tell him that we were going to write an offer tonight. We wrote an offer that night. I called the agent to tell them we were ready. Then I called the next day and left another voice mail. By 5 pm and 4 voice mails later I went to the company and it was locked. The agent called me 2 days later and told me to put it under the door mat. Then I didn't hear anything for 4 days after a dozen voice messages. When I finally talked to the agent they said they had another buyer and their offer had been accepted. "Sorry." I asked the agent why they did not call me to say there was another offer and give my buyer the chance to submit another offer with a higher offer. The agent said, "The seller just liked my offer."
House #2. The agent couldn't meet me on a Saturday or Sunday at anytime because they were busy. I understand - it happens to all of us. I went and took pictures and made a virtual tour to send to my buyer. My buyer liked it. I called to make an appointment for the day they were arriving. The agent couldn't meet me at anytime that day or the next. They told me it was fine to take my buyer anyway. My buyer loved the house and told me they wanted to make an offer but noticed a lot of damage. There was no electricity in some of the rooms. The spouse told us the rooms had not had electricity since hurricane Wilma. The wiring looked strange around the washer and dryer and a few other things. I called the agent to ask for a Seller's Disclosure and left a voice message. I called back a few hours later and talked to the agent who was sounded drunk and was in a bar. There was no response. After 24 hours I called again and I sent an e-mail. I sent another e-mail and called twice the next day. I didn't want to annoy the listing agent, but my buyers were anxious and worried about the problems. After a week we got the Seller's Disclosure and it said there was absolutely nothing wrong with the house. Safety is a big concern for this family. A dozen things conflicted with what the spouse told my buyer which made my buyer uncomfortable. Since there were so many questions I thought I'd make it easier and write a letter so the agent wouldn't be taking notes for 10 minutes and forget something. I called the agent and left a voice mail that we had some questions and that I would e-mail the questions to him or he could call me. The agent didn't call me the next day. The agent didn't call the following day. The next day I called again. The agent sound really pissed and said, "If your're going to get all formal this is going to take a few days!" I said I didn't want to be formal and it would be fine if he called the seller, jotted down a few notes and called me. He said it was Friday and he would call me on Monday. No call on Monday so I called again. He gave me 2 of the answers and told me that if it was such a big deal to me I should go talk to his seller. The only problem was I had appointments that I couldn't miss. We wrote an offer even without the answers. I called to tell him that we were e-mailing an offer. The agents said, "Oh, I got a buyer and we already have a contract." I was shocked. He did not call us to tell us so that we could make our best offer.
House #3. I called an expired listing. The seller and I made an appointment. I told him I had a buyer that was interested in the house. The seller let me bring the buyer by and said they really cut out their first agent. I appreciate that kind of loyalty. The buyer and seller talked and seemed like everything was great. Then the agent called. I told her the buyer wanted seller financing for 2 years for a portion of the sales price. She said, "I will not recommend that to my client!"
Maya Thomas
REALTOR®
(305) 522-1398
MayaMarieThomas@Hotmail.com
http://www.ShowcasePortfolioProperties.com
http://www.myspace.com/topkeysrealtor
