Thursday, August 27, 2009

We put in an offer... where's the response!!???

Seems to be mini epidemic in my profession.

I am hearing of agents submitting offers to other real estate "professionals" [note here I put quotations around the word professionals because I feel that agents that conduct themselves in the manner of which I am describing are anything BUT professional]and they are not getting a response.


The seller wants to sell the house doesn't he? Why is there no response?

There can be many answers to this question... some of them reasons... some of them excuses... some of them true... and some of them lies.

Let's take a look at just some of the answers:

1. "My clients haven't gotten back to ME yet."
2. "My cell phone battery died."
3. "My client is out of town and difficult to get a hold of."
4. "We are not going to respond because there are more showings to take place."
5. "We are going to wait until after the Open House this weekend."
6. "We are not going to dignify that offer with any counter."
7. "I'm told we have another offer coming in."
8. "Your offer is too low."
9. "I called you back... didn't you get my message/email?"
10. "I have someone else interested."

That's just ten... a sampling of what we might hear. Meanwhile, you as buyer, sit and wait, and... let's be honest here... start to wonder about YOUR agent.

Understand these facts:

ALL offers that are submitted to a listing agent in writing MUST be presented. Please understand a verbal or oral offer is not binding.

In most areas the purchase contract includes a "Time Period of The Offer" clause. This means the sellers have a specified period of time to respond. If they do not respond within that time frame, the purchasers have the right to move on. IF the seller responds after the time frame, the purchasers have the option of accepting or even ignoring that delayed counter or acceptance even. So how much time should you give a seller to respond? Under normal circumstances a day is adequate. If they do need more time the agent may respond that, "We might need to have a little more time than the contract allows for, can we move that Time Period Of The Offer a little?"

By the way, there is usually a form available that can be given to the listing agency requesting that they have their client sign which verifies that they were, indeed, made aware of the offer.

It's too bad that this kind of topic has to be talked about, but unfortunately there are agents that are not taking their fiduciary obligation seriously.

Wednesday, August 12, 2009

Help me, PLEASE

I'm looking for your help here. I am two people.

I am a Realtor who makes a living when people buy and sell homes.

I am a thinking and rational adult who pays taxes.

The government... locally and nationally seem to feel that the public needs an "incentive" to go out and buy houses. So, in their collective infinite wisdom, they offer tax breaks and even MONEY back... if you will go out and buy a house.

Yeah! I make money because I help people to buy and sell houses!

Oh no! I lose money because I am a taxpayer, who's taxes keep going through the roof and it's those very taxes that are funding these "incentives".

So how should I feel about this? Happy? Frustrated?

Listen, I am all for anyone being able to buy a home. And just like anything else in life, you should probably not buy something you cannot afford. Simple rule right?

Well, these incentives seem to be targeted at persons that have shown a history of not being able to manage their money... more specifically, not being able to figure out how to save enough money to buy a house. This saving thing involves something that most Americans do not want to do anymore.... WAIT. We want it all and we want it NOW. And our governments agree. We should ALL have it now. "Oh, you haven't saved enough money? Here... you can borrow it from us... or a bank that WE have loaned money to."

Still, I feed my family by selling real estate. So if the government or some other entity wants to throw out a program or embark on a project that moves people to buy or sell houses... I should be happy.

Yes? No?

Help me! I'm two people!