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Today, I'm watching an agent drown in a glass of water. The ball is in his court, his voice mailbox is full, he hasn't answered my e-mails and the asset manager is getting impatient. The situation isn't difficult ... when a counter offer is presented there are only three possible answers. Accept, reject or counter back.
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40 Comments on Watching an agent drown in a glass of water
Cynthia, it sounds like these buyers need another agent. It's a good thing you know how to do YOUR job!
Cynthia, this trend of buyers and sellers asking us to pass their voluminous virtues on to the other side must be a trend. I just had one of sellers request that I give a list of their virtues to the buyers. Who cares? Not the buyers.
Cynthia, what a great analogy! Sure, just put your head in the sand, Mr. Buyer's agent, and tell us how you like it when your deal falls apart and you're under financial duress next month! Wow.
Sharon
You know Cynthia, voicemails are like problems, if you ignore them, they go away.
Evasion, delusion, etc. are all examples of agents who simply do not know what they are doing.
Even with an all cash offer, that inspection contingency is important, although most have a "self executing" process whereby, if no action is taken by XX days, the contingency will be satisfied, or die a natural death.
When an agent doesn't understand terms and conditions of a contract of sale, they may become paralyzed with inaction. Sad, sad.
Geesh. Sounds like quite a mess. Hope it works out!
There's another choice, making it four choices. Ignore.
Believe it or not, I have run into asset managers who demand non-refundable EMDs and no inspection contingency. Since it generally takes the banks anywhere from a few days to half a month to issue and sign their own contract addendums, I have, in one such case, slipped in a home inspection in advance of offer acceptance, just to protect the buyer. I called it my 24-hour emergency home inspection.
It sounds like the agent on the other side wastes a lot of time doing non-productive things like complaining...having a voice mail box that is full is a strong indication of being out of control.
Ounds like he is hiding behind some emails and some voice mails. A modern agent... Not a good modern agent though.
I seem to notice over the years that it feels that we have lost as Americans is the ability to negotiate. Some people feel that negotiating in an 'insult' - I think we are read many blogs about this on AR - other don't know how to do it, many don't like it, and in the attempts to negotiate, people get 'personal' because they don't know how to negotiate.
My two cents worth.
Cynthia
Why do so many agents inject so much of their selves into a deal. It seems to happen way too much. They need to understand with an asset manager and REOs, it is very impersonal and they are trying to get as much as they can in most cases. Good luck and there is always earplugs. cheers cvc
Robert - I agree, time is of the essence.
Nevin - LOL, sometimes I think the jobs are interchangable! Nice to see you!
Charlie - a good agent leaves their emotions at the door, not in an e-mail.
Joan - IT's THAT SIMPLE!! Care to make an offer on my listing? Pretty please?
Donald - I'm surprised that an agent in the business for 30 years is having such a tantrum.
Mike - believe me, asset managers don't care either!
Sharon - it seems pretty hard to drown in a glass of water, but this agent is demonstrating it pretty well.
Malcolm - this deal is going to go away if I don't get an answer TODAY.
Lenn - why is it so hard? Yes, No, Counter. Yes, No, Counter. And yes, this bank has a passive contingencies in their contract. No action means approval/acceptance.
TCT - it will, I'm just annoyed ... frustrated ... ready to chew on my desk.
Elizabeth - that was one of my suggestions to the buyers agent ... do an inspection between now and when the contract is ratified, then bail if you need to. He could have accomplished a lot in the two days he spent whining.
Kathryn - you are being too nice :)
Gary - I've never known an agent convince a bank by whining. What a waste of energy.
Richard - negotiating is what I like best about real estate ... I don't understand the difficulty in it.
Curtis - "Why do so many agents inject so much of their selves into a deal". I don't know, but I wish they would stop it.
Hi Cynthia, so true. It is not rocket science,,,, accept, reject or counter, and then your client will do the same. What's the problem with that?
Cynthia, what a great metaphor for the situations so many agents put themselves in.
Sandy - They are afraid if they stand their ground they will lose the deal. That's what negotiation is all about though.
Patricia - Every deal has decisions involved, some get past these easier than others. It's frustrating to watch though.
Cynthia - Drama doesn't help much in our business. The agent needs to pull it together.
Good morning Cynthia. Your title is fantastic and the piece does not disappoint. Funny, but sad really. Very nice.
Christine - you are right, so right.
Sheila - thank you!
It's really so simple, isn't it Cynthia? You told it like it is. Time to negotiate.
drowning in a glass of water, I haven't heard this one before, I hope that you can get him to act on the offer and start serving his clients.
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