Do your job or get out of the business!
Last night I was sitting down with one of my Sellers and before they would sign a Counter Offer they asked me to write out and sign an agreement that when we open escrow I would not disappear!
I said you are joking right? NO! they exclaimed! They are in escrow with another agent on their purchase and he has disappeared off the face of the earth! He works a full time job and does this on the side I guess. But he states he has been doing Real Estate for 30 years!
My gosh! He has been destroying this industry for that long! He can't take calls during the day because his "Day Job" doesn't allow it. So when can he follow up on escrow, etc!
These poor Sellers have almost lost their new home a couple of times and they asked me last night another question that I just about fell off the couch! Here goes ... to preface the question, they have been in escrow for about 45 days now ... "Our appraisal did not come in for value, what do we do"?
Easy right! Just tell the Bank to re-adjust the price! Nope! The agent had them remove all contingencies! On top of that these buyers have already put an extra $20k deposit in escrow for an extension!
So this buyer is negotiating everything with the Listing Broker that represents the Bank (REO property). Another legality: Listing Broker dealing directly with the buyer due to lack of representation!
These poor Buyers are completely stressed out because they do not have proper representation and legally I can't advise them without putting myself at risk ... other than to contact the Manager or Broker of the company of the Buyers Agent!
Any comments ... or advice?
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