This past week I was involved in a situation that highlighted the value of getting a good real estate agent to represent your interests.
We had just listed a townhouse condo in Ottawa, Ontario, that we priced it to sell. In fact, our client did not have very high expectations since the property was not in very good condition. So, it was to our client's surprise, and to our satisfaction, there were several quick showings that translated into offers almost immediately. One offer was quickly followed by a 2nd, and then a 3rd. After notifying all the interested parties of the multiple offers, and having a second series of revisions to the initial offers, I confirmed that everyone had put their best and final offer on the table before we presented it to our client.
After weighing all the pros and cons of each offer, our client decided to accept a full asking price offer that was submitted with no conditions. The other two offers were at a slightly higher price point, but had all the usual conditions attached. He decided on the path of least resistance, which was definitely the way to go given his circumstances. So what's the problem here? It sounds like a great story with a happy ending. Well, it was a happy ending for the seller. But that leaves two unhappy potential-buyers.
In one case, the buyers had locked up their cash so that it was unavailable for several months. There's nothing that the agent could have done better. His preparation and presentation were top-notch, but circumstances beyond his control made it unacceptable to the seller.
The other offer that was rejected was a mess. Missing signature, initials and errors in the Offer made the seller question the ability of the buyer to handle to details of the transaction as it would have moved through the process. It gave the impression that any conditions would not have been dealt with in an professional and expediant manner. The worst part was, that when I pointed out the errors and ommissions to the agent, she blamed her client and the sense urgency that was dictated by the situation. Are you serious?!??!
Ultimately, I believe our seller would have come to the same conclusion, but had the situation been a little bit different the messy offer would have lost out because the buyer's agent gave such a bad impression. That offer never stood a chance, and unfortunately that buyer will never know all the facts as to why their offer never received the level of consideration it might have. To my fellow REALTOR who submitted that offer,....Please get your act together! You are not serving your client's interest or maintaining the professional standards that our business needs to promote. Should you continue to do this in a tighter race, I believe your sloppiness with hurt your client again.
Just my 2 cents,
Image: luigi diamanti / FreeDigitalPhotos.net
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