I was negotiating a deal with a buyers agent for repairs recently. She had asked for $5,500 in lieu of all repairs. I always LOVE when a buyers agent pulls a number out of their fanny without a professional bid. I quickly said.. where did you guys come up with that number? The buyers agent who I'll refer to as Trina says...


"my buyers felt it was adequate compensation."

 

Adequate compensation? What? This isn't a lawsuit and your buyers weren't injured in a car wreck goshdangit! Get with the program sister! Get a handyman, a roofer, or somebody that KNOWS what they are talking about!

I didn't say that, but I was thinking I should. Instead I said.. We'll need a professional quote prior to negotiating any repairs. I had already known by personal experience that their quote was at least $2,000 higher than it should of been. Being a bad bullshi**er has a funny way of creeping up on you when you least expect it. After we hung up the buyers agent called back from her bat phone. I answered to NOISE.

This is what I could hear.

"well XXXX sounds like we ain't gettin $5,500. If we get $3,000 would you all be okay with that?"

66

BUYER: "If we can get $2,000.00 we'll take it!"

At first I was pissed, but then It hit me. The real estate God's didn't appreciate their inflated requests. The buyers would not be getting what they asked for. I called the sellers and suggested a $1,000.00 repair allowance TAKE IT OR LEAVE IT. The sellers agreed and you guessed it.. SO DID THE BUYERS!

The moral of the story? Get your bids right, & don't BS people with inflated quotes, otherwise your purse just might make the call for you!

 

 

 

 

 

production award  RE/MAX HALL OF FAME, CLASS OF 2011

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

 

 

 

 

 
Post is included in group: Club Chaos
Post is included in group: 'JACKED!!!!!
Post is included in group: Lessons Learned
Post is included in group: Real Estate Bloopers
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43 Comments on Buyers Agent Accidentally leaves Phone On - OOPS!

20 Most Recent Comments Displayed Show All

AUG
27
2009
178,295 Points 6 Featured Posts Localism Sponsor Hit Router

Karma exists!  I received a butt call today, but all I got was road noise.  I'll have to be stay on high alert for agents giving my clients thousands.  Nice one. 
9:44pm • #24
151,411 Points 4 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Being an Amanda, I get the butt dials a lot and have somehow managed to dial Jason Crouch at least twice in the last year!  (I was singing too!)

As far as the repair number is concerned, I think it's a good idea for the seller to have the house inspected prior to the listing and for any repairs that they won't be taking care of, gather bids ahead of time and price accordingly.  When the buyer comes along for a price reduction, the seller is armed with the right information. 

I beleve the best decisions are informed ones!
10:20pm • #25
AUG
28
2009
142,381 Points 3 Featured Posts Localism Sponsor

I love Karma! It is my favorite!!!!! Great story!
1:00am • #26
629,905 Points 18 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Great story sir and one that bears repeating.  I wonder if they had of made it more on the line of $4,993.62 would you have bought the request?  :-))
6:57am • #27

Karma, it is a beautiful thing. Just goes to show you, they should have had some estimates done instead of just trying to get greedy. Makes me laugh.
8:09am • #28
702,257 Points 39 Featured Posts Outside Blog Called Shot Master

Negotiating 101 - Make sure the bat phone is off when you discuss your strategy.  Check, I got it!  Trina's using up her precious minutes being a twit!
9:32am • #29
379,743 Points 2 Featured Posts Outside Blog

Happens all to often. It amazes me that some agents don't think you can call a contracter.
1:04pm • #30
590,706 Points 99 Featured Posts Outside Blog Called Shot Master

HELLO GREG!  I would love to see "Trina's" face if she ever stumbled upon this post! -- Gabrielle
1:53pm • #31
319,767 Points 7 Featured Posts Attended Rain Camp Called Shot Master

ROFL Greg!  That'll teach "Trina" to use her phone's lock button from now on!  Or so I hope...LOL

Sincerely,

Kathleen
7:35pm • #32
179,441 Points 14 Featured Posts Called Shot Master

Gotta love it when the Butt Calls come in and I'm with you Greg on having a qualified written bid when money for repairs are requested.
8:58pm • #33
AUG
29
2009
386,969 Points 30 Featured Posts Outside Blog Hit Router Called Shot Master

ROFL...I had this happen recently but in reverse...the buyer asked for a credit for something and I knew from getting repair estimates before putting the house on the market it was something that was gong to be difficult and expensive to replace.  LOL  I was very happy to see that very low repair credit come in...do your homework, folks!
12:42pm • #34
396,963 Points 17 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Sometimes when you least expect it, someone throws you a bone. Getting an accurate bid is very important. There is no arguing over a valid bid.
10:20pm • #35
AUG
30
2009
405,899 Points 6 Featured Posts Localism Sponsor Outside Blog

Sometimes my purse has made phone calls on my behalf. I have not noticed it som much since I got the touchscreen phone.
1:35pm • #36
405,899 Points 6 Featured Posts Localism Sponsor Outside Blog

Oh yes, I totally agree you have to have a realistic figure to work with. Since my background is construction it really helps, as I can estimate the costs on some things and I have a Rolodex full of numbers of subcontractors I trust.
1:36pm • #37
SEP
01
2009
870,965 Points 200 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Betina - Exactly! What the hell are these people thinking when they "negotiate!!"
10:52am • #38
870,965 Points 200 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gabrielle - where the heck have you been??
10:53am • #39
238,110 Points 1 Featured Post Attended Rain Camp

I have a flip phone so never will happen by me.  I have received calls from friends or family members like that.  Nothing juicy though.
7:56pm • #40
SEP
03
2009

Greg, I only laugh when professional don't know the trade much less expense of items.  I remind buyer agent I am a real estate investor who does my own contracting if their contractor is charging them XYZ WOW happy to work for buyer with $500 savings... gets them to zip it ! Have a great weekend
5:07pm • #41
SEP
07
2009

LOL!! I keep my phone locked and Always get quotes!!
9:31am • #42
NOV
08
2009

Wow, that is a funny story.  Why would an agent just quote an amount without knowing the true cost? 

Though this accidental redial has never happened to me on a real estate deal. I was always calling friends and family with my blackberry and my bottom, until the blackberry flip phone came out.  I love this phone!    
12:09pm • #43

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Greg Nino Houston Texas

Houston, TX

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RE/MAX West Houston Professionals

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