Secret Shoppers & Secret Sellers in Today’s Real Estate Market
The theme for this week was definitely secrecy. There seems to be a lot of secrecy going on right now in the housing market. I can’t turn around without crashing into it. I’m sure all real estate agents have at one time or another bumped into a home that is listed on the MLS and there is no sign or lockbox. When you ask the agent why -- they tell you that the seller doesn’t want anyone to know the home is for sale. Interesting. I guess they haven’t learned about the power of syndication. If it’s on Zillow, chances are your neighbors are going to know. Also, you really need to bar all of those Realtors that advertise themselves on their cars from coming over. The big RE/MAX sign on that minivan is a dead give away that something is going on next door.
But this week, rather than the garden variety "secret seller," I encountered some odd variations. The week began with a “secret buyer.” An agent wrote an offer on one of my short sales from a buyer and "designated family members.” I had to let the agent know that although I do appreciate a certain amount of intrigue, Bank of America doesn’t, especially on their short sales. So, if her client wanted to buy a Bank of America short sale she was not only going to have to identify them specifically, she was going to have to fork over their date of birth and the first five digits of their social security number.
Next was a listing that was vacant, but no sign and no lockbox. There were strict orders not to “approach” the home. (Does it bite?) And, the listing agent must accompany all showings. No explanation was given in the agent remarks, but there was an instruction to “call for disclosure.” I looked at the home several times online, and thought about how long that phone call was going to take. (What was it -- a bat infestation? A hole in the middle of the living room floor? And how would the presence of the listing agent make it better?) I figured, chances are, whatever the situation was that it couldn’t be disclosed openly in the MLS, it was going to be so nutty that it wouldn’t be worth dealing with -- just my gut feeling. So, I decided to skip the 30 minute explanation and use my time to set up a showing of a non-secret home for sale.
Shortly thereafter though, I encountered another secret sale. This one owned by a real estate agent. Again, no sign, no lockbox (you sly devil!) He didn’t want his tenant to know the home was for sale. Uh-huh. He instructed me to park in the driveway (why?) and to avoid the tenant’s room and any conversations about the home being for sale. I asked him how I would explain the family I was bringing with me. He said he wanted to limit the showings to just a couple people at a time. (Nice, I guess we’ll just leave grandma in the car then?) I asked him how he was going to explain these groups of “friends” coming over in 15 minute intervals who wanted to peek at all the rooms. He didn’t think it would strike his tenant as odd at all. <Sigh> I told my client about the details of the proposed showing experience and surprise, surprise -- they declined the showing! When I called to let the agent know -- he actually said “Was it something I said?” I wanted badly to say “No, it was everything you said!" But I didn’t -- I exercised every bit of self control I had and waited until AFTER I hung up the phone to start laughing.
I am, after all, a professional -- although that information is strictly confidential.
Tni LeBlancis an independent Real Estate Broker, Attorney,Short Sale Agent, Certified HAFA Specialist (CHS), and Certified Distressed Property Expert (CDPE) serving the Santa Maria, Orcutt and Five Cities area of the Central Coast of California.
* Nothing in this article is intended to solicit listings currently under contract with another broker. This article offers no legal or tax advice and is for information purposes only. Those considering a short sale are advised to consult with their own attorney for legal advice, and their tax professional for tax advice prior to entering into a short sale listing agreement. Mint Properties is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Copyright © 2011 Tni LeBlanc *Secret Shoppers & Secret Sellers in Today’s Real Estate Market*
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