Are you an agent who helps contribute to the insanity, or helps STOP the insanity?!
This is sort of a spin-off blog from an earlier post that attracted alot of attention and differing opinions:
Never drew up a Buyer Broker Agreement.......until now. Here's why.................
After reading the comments on that blog post, it got me thinking. (And as Jane Peters would say "That's Dangerous")
The example in question was whether or not it's the right thing to do to write a block of offers at a time on short sales, say 10 at a time or so.
Some people think that's how you go about getting an acceptance on a short sale, and feel their loyalty lies with their buyers to do whatever it takes to get them into a home.
I personally feel differently, and here's why:
If you are an agent who feels this is par for the course to get the job done, are you seriously looking at the bigger picture here?
Do you realize that you are writing 10 purchase agreements for buyers who have no legal or logistical intent to purchase all 10?
Do you realize that the other 9 agents are highly likely to be the listing agents on another property for another buyer of yours that you submit an offer on in the near future?
I for one will actually remember a flakey agent in my head before I'll ever remember the names of the buyers on that offer, and I'll probably think twice about the credibility of that agent and whether or not I want to be in escrow with them the next time around. And that mostly stems from looking after the best interest of my sellers.
Also, do you realize that when you write an offer on a short sale, that the sellers are in a financially DISTRESSED position and are likely in a position to be foreclosed upon if they do not successfully short sale their home? And that the banks that hold their mortgage will probably deem them less likely to successfully short sale their home if they cancel the contract several times because the buyer walks? Can you not see that at minimum the basic level of humanity?
So in the bigger picture, if your version of "whatever it takes" means writing several offers at a time to roll the dice and see what happens, can you not see how you are just contributing to the insanity, and in the even bigger picture actually making your life and the lives of other agents that much more difficult?
My approach would be to ask your buyers what home they feel most strongly about. Pick a home. ANY home!
Write the offer, and put a deadline on it for written approval via the short sale addendum.
If you do not hear back from the listing agent with an approval by that date, then move on to the next.
Or at bare minimum, rescind the offer in writing if you find it necessary.
All I'm advocating is: Be courteous. Be respectful.
Yes, you do have a fiduciary responsibility to your buyers, but that does not mean that you have to trample all over ethics and respect for those around you to honor that responsibility.
Help not only all of us other real estate professionals, but homeowners also by STOPPING THE INSANITY.
I totally respect all opinions! Let me know what you think.
Comments(40)