Special offer

You had it, You let it go and now its gone FOREVER!

By
Real Estate Broker/Owner with GoodBuy Homes NJ Essex & Union County Real Estate specialist 0791869

As Real Estate professionals we face challenges of all types in our attempts to help someone find the right home for the right price.  Being that the market is full of inventory (in a lot of areas) at times buyers find themselves caught at a crossroad between choosing a house or not.   As Agents we try our best to educate our clients on the market and try to aide them in making an informed decision.  But then there are those situations when a buyer and a home just seems to work and you feel like you are the Realtor of the year because you made the match happen.

 
But of course life isn't perfect and the buyer decides that they want to continue to look...why? we never know...
 
Case in point; I showed a buyer a house and it was love at first sight, it was empty so we got a chance to really go through it thoroughly and they were showing all of the signs of an interested buyer.  They were planning where the furniture would go, revisiting each room again and again and even wanted to talk numbers.  Now as a Realtor this excites me because there is no better feeling than knowing you have found the right house for a buyer client.  So I asked if they want to go back to the office and write up an offer? they responded; "well maybe we should sleep on it"  now I am not one for pushy sales tactics so I explained to them that if they were interested chances are someone else is as well, they understood and vowed to speak to me in the morning.
 
Next morning no call...I was somewhat shocked and decided to call them and see where they were with everything.  After a 5 minute conversation they told me they want to continue to look for a "better deal" I explained that you will never know what you can get this house for unless you put it in writing, they ultimately declined and back on the road we go.  It did make me question there motivation to be honest but maybe they decided it wasn't the house for them; besides who am I to be emotionally attached to any house or situation.  So after another month of house hunting I saw that the original house had a price reduction so I rushed to tell my buyer. Excited by the news they requested a second showing; I advised them to write an offer since they had already been in it and know all about that but they insisited on seeing it again.  So after a few scheduling issues we were able to go see it, they decided to write an offer and when I called the agent to alert her of the offer she stated that the Seller had accepted an offer already and the house is no longer available (she just forgot to update the MLS on the change)....
 
I was speechless but not surprised.  I called my buyer and told them the sad news...I said "you didn't get the house" they immediately responded with "well lets offer more!" I said your offer wasn't declined because it was too low, it was declined because it was too late.
 
They were very upset and even heart broken from what I could see but at the end of the day they had it, they let it go and now its gone...Hopefully a valuable lesson was learned and they understand that even though we are in a buyers market and there is a lot of inventory out there, there may be still only 1 or 2 homes that match their needs and if you happen to come across it you better buy it!  You see homes are not like t-shirts or shoes where you can go back and they have 10 others just like it (unless its new construction or something) so its important to be jump on something if you truly think its for you.
 
Hate that I had to write this post but hey its just a day in the life of a Realtor I guess...

Comments(3)

Patty Mortara | Hunterdon County (NJ)
Hunterdon County Homes - Flemington, NJ

I know the silence on the other end of the phone when I tell a buyer, I'm sorry the sellers have already accepted an offer. Shock. Dismay. The old story, you snooze, you lose! 

Aug 01, 2012 12:30 AM
Ellie Penaranda
239.776.5077 Downing-Frye Realty - Naples, FL
Naples Florida Real Estate - Waterfront & Beach Co

Malik, great post - if buyers just knew how many times this happens, they would really understand where the good advice we give them comes from - experience!  Hope you find them a perfect home soon - I am sure they will behave differently the 2nd time.  I think you should make this post public, its good education for buyers out there.

Aug 01, 2012 12:36 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

I have a buyer going through the same thing.  It's maddening.  They fall in love, offer too little and then are shocked when they can't go back and outbid the winning offer.  

Aug 01, 2012 03:28 AM