Transactions are so much easier without irrelevant demands.
In the last year I have run into some pretty demanding people. My clients have visited open houses and had the listing agent tell them the seller said anyone who wants to buy the property must use them as their agent (apparently thinking that they could save on commission or something).
That happened twice - two different buyers at two different open houses! I guess that is legal, but it seems to be pushing the ethics and is certainly counterproductive, since my clients won't buy a house unless I will be representing them. Many of my clients are repeat clients. I have represented them before and they trust me.
Then there are the listing agents who tell you you must use their title company. This is a violation of California law, and if you challenge them, they will back down and tell you that you can use whoever you want but it will cost more. I guess they hope no one will challenge them.
Add to that the REO and short sale listings that require the buyer to submit a preapproval letter from a specific lender, even if you already have been approved by your chosen lender. It seems to me that if you Have been approved by a direct lender who has reviewed all of your financial info, including tax returns and bank statements, you should be good-to-go.
This is especially irritating when we are required
to have our buyers preapproved by a mortgage broker we've never heard of but who is affiliated with the listing agent or the existing lender. They are careful to comply with the law by saying that you don't have to use that lender, but you do have to submit their preapproval with your offer or it won't be considered.
I represent both buyers and sellers, and when I am helping a seller all I want is a buyer who can afford to buy the property, who makes a reasonable offer, and who is represented by a knowledgeable agent who will be easy to work with. While I do have a favorite title company and other favorite vendors, I will never insist that a buyer use them. I will suggest my choice if they have no preference, but my goal is to make the transaction a smooth one and I see no sense in arguing over such details.
We are now transitioning into a true sellers' market, with little inventory and many buyers competing for the same few homes. I hope this doesn't encourage more sellers and/or their agents to decide they can make even more demands that really have nothing to do with choosing the best offer for the seller.
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Susan Neal
Broker / Realtor
Susan Neal Fine Properties
Century 21 Noel David Realty
Fair Oaks, California
Full time real estate services in Fair Oaks CA, with friendly professionalism, 30+ years experience.
I work hard to give my buyer or seller a low-stress transaction.
"Happy clients make me happy."
For all your real estate needs or questions, call me at (916)705-8951 or visit my website at www.SusanNealFineProperties.com.
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