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re: What I'd do different next time: A real estate agent/transaction story/rant
Posted on 8/2/17 at 1:30 pm to AUjim
Posted on 8/2/17 at 1:30 pm to AUjim
FWIW, this happens routinely. She sold it for you, I wouldn't sweat it and move on.
I agree though, and I've been on the buying end of this many many times. I don't understand why in a multiple offer situation any and ALL offers should be told "Best and Final" by X date. Screw full "asking" price, that was just a start of negotiations.
I can't tell you the amount of times I low balled a house only to lose out by $1-2k when I would have paid $5k or more but I never had a chance to give a 2nd offer.
Moral of the story here: Most realtors are never aggressive enough because they would rather a quick easy sale than earn the buyer just a little more. Its only 2% or whatever more to them.
I agree though, and I've been on the buying end of this many many times. I don't understand why in a multiple offer situation any and ALL offers should be told "Best and Final" by X date. Screw full "asking" price, that was just a start of negotiations.
I can't tell you the amount of times I low balled a house only to lose out by $1-2k when I would have paid $5k or more but I never had a chance to give a 2nd offer.
Moral of the story here: Most realtors are never aggressive enough because they would rather a quick easy sale than earn the buyer just a little more. Its only 2% or whatever more to them.
This post was edited on 8/2/17 at 1:31 pm
2
Posted on 8/2/17 at 1:44 pm to baldona
Exactly. A $10,000 higher price only nets the agent an extra $210.00 on a 6% sale @ a 70/30 agent/broker split.
Posted on 8/2/17 at 6:31 pm to baldona
quote:
I agree though, and I've been on the buying end of this many many times. I don't understand why in a multiple offer situation any and ALL offers should be told "Best and Final" by X date. Screw full "asking" price, that was just a start of negotiations.
I can't tell you the amount of times I low balled a house only to lose out by $1-2k when I would have paid $5k or more but I never had a chance to give a 2nd offer.
Moral of the story here: Most realtors are never aggressive enough because they would rather a quick easy sale than earn the buyer just a little more. Its only 2% or whatever more to them.
The popular thing to do here is have an offer review date, and the majority of offers have escalation clauses to go up in the case that there is a stronger offer. The housing market here is intense though
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