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67 Comments on I'm so glad that you have time to waste......Unfortunately...I don't!
Aw geez! Another waste of time in real estate scenario. Sometimes it seems imperative to take a pulse on these folks!
I agree with Adele, #34. yet, what does this say about some agents in this industry? Unbelievable!
Hi Coweta, we agree. We would not take any more offers from that investor.
Investors try all types of things to get a great deal; hopefully these scenarios start disappearing with the strong emergence of this market.
learned my lesson the hard way as you pointed out above ... so what did I learn ... accept investor offers only as a last resort ... when I explain this to my sellers they agree and prefer an owner occupant ... even over investor cash offers ... this is what the investors get for playing their games ... and why would any agent spend their time on these none productive offers?
Yes, as Hella said, "I'd remember that agent." Unbelievable that she would come back with a higher offer with the Same Client!
Coweta,
Unfortunately many agents work with these types of buyers. Personnally, I would charge them by the # of contracts written and also collect the Buyer agent commission if a contract was accepted and colosed. Alas, i don't work with any investors.
Fun and games in the Real Estate world! Life is never dull is it?
We also meet this kind of approach and I am sorry to say with some of the english clients we have. As they have a more "colonial" tendency they will take a top 5 and then start throwing offers, having five agents running around to make ends meet. The worst kind then goes back to the UK with signed contracts and cancels after careful consideration four of them within the legal 7 days cool-off period - dissappointing a lot of people...
Really? I don't see this agent getting a lot of business once listing agents figure out what he and his clients are up to. Bad news....
How frustrating. I'm sorry you had to go through this and hope that your short sale inventory declines.
@ Perry...we have a retainer fee that's we can place on either the Buyer's Brokerage Agreement or the Listing Agreement. It would not have benefitted me or my client in this particular situation.
@ Jon....you're right!
@ Hella....so do I!
Truly annoyiing. I suppose your sellers could always tell this kind of buyer to get lost, but then who wants to lose a sale? These types of invetor buyers are out there and I suppose it's just a "hazard" of our business.
I would suggest that the seller just say no to this offer unless it is an as is all cash deal. I would want some non-refundable earnest money on the table to go with it.
@ Jan, Kino, and Bob....I agree! Moving forward, I will STRONGLY advise my Sellers to beware of these offers....they normally come with a littany of special stipulations!
@ Keith...I do believe that they eventually will. I'm finding that they're targeting short sales within my area more than foreclosures and normal re-sales.
@ Lehel....EXACTLY!!! In fact, the agents representing them are playing Russion Roulette with their reputations as well.
@ Christi.....They're definitely in my "no no" file!
@ Steven....Neither do I.
@ Georgina....Wouldn't too much mind the fun and games as long as they accompanied a paycheck! Lol!
@ Gijs....WOW!!!! So, they waste a LOT of different agent's time???
@ Elisa...I don't either...Besides, a bad reputation spreads like wildfire.
@ Nina...It is very disappointing.
@ Alan....The non-refundable EM was a "no go" for them! Lol! Wonder why????
Sounds fairly sleazy. This is as bad as using inspections to beat the place up and aim for a price reduction.
Vanessa,
Sorry to here that this investor likes to play too many games.
Hope for a better ending.
@ Gene....tres sleazy!
@ Peter....me too. Oh well....on to the next, huh?
One lesson I have learned the hard way is to Require a large Earnest money deposit for "this type of buyer" I want to make them have a stake in the deal as much as the rest of us! If they are a cash buyer I require a $5,000.00 non-refundable EM. They get the money back if the bank ups the price on the buyer but otherwise- non- refundable!