Special offer

There's a $20 In It For You

Reblogger Susanna Haynie
Real Estate Agent with CO-RE Group, LLC -Real estate sales and services ER100036445

We all know that buyers are having a hard time getting offers accepted. Most likely we will see more and more interesting schemes that are supposed to help persuade sellers to prefer one offer over another. Thanks to Karen Fiddler for posting this buyers agent strategy, I haven't seen this one (yet) but I am sure it's not last:

Original content by Karen Fiddler, Broker/Owner BRE# 01494165

 

Someday I'm really going to be able to say "I've seen it all"! Not today, however. (sigh).

I know that we are in a tough market for buyers. I really do! I work with buyers all the time and so many of them are reaching the point of being desperate to get an offer accepted. The agents are equally anxious to find something for their buyers.

But.......

I got an offer the other day (which I did NOT take), which offered me what could really only be called a bribe. Possibly a legal one. Possibly not one which would automatically result in an ethic violation as far as the Board is concerned. But so far out of my own ethical code that I really couldn't believe it.

A buyer's agent send me a commission disbursement form which gave me an extra $2500 "if his client's offer was accepted."

I was stunned...and felt like I needed a shower. Now, negotiating commissions happens all the time really. Typically it's for the benefit of either the seller (getting them a higher net) or a buyer (getting them a lower net). But for the agent? To get an offer accepted? Scary stuff!

For me?

My problem is that I don't even want to present the offer at all. Of course I have to, and so I did....which the commission page that showed clearly that they had tried to influence me. It was not chosen. It was the highest offer, and my sellers felt as I did...greasy.

This market is tough. I'm seeing things that I never thought I would out there. I feel for the buyers....it seems they've missed their "buyer's market," but let's not go nuts here. Isn't "nuts" how we got into this mess?

 

 

 Karen Fiddler
Broker/Associate
The Fiddler Realty Team/eVantage Real Estate
Lic # 01494165

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John J. Woods
Big Dog Press, LLC - Winder, GA
Going where no man has gone before - wouldn't you?

 

   I really feel like I'm missing something.  I don't see the problem with that kind of incentive.  And I fail to understand why the Seller wouldn't take the offer when everything was above board and it was the highest offer.  Maybe you can educate me?

 

Oct 27, 2012 02:31 AM
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Hi Susanna,

I am with you, I think it really walks the line and is leaning well over to a side I do not want to consider.  The only way I would say it could work would be at FULL asking price.....anything less will send red flags.......which would beg the question why offer the incentive?

 

Oct 27, 2012 02:39 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

Hi Susanna, thanks for the reblog. I know that this is not a violation of the COE, but it felt wrong to me.

Oct 27, 2012 08:54 AM
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

I must be missing something as well, it seems Karen could have given the bonus money to her seller but with this offer being the highest I don't see the problem.

Oct 29, 2012 01:15 PM