I Didn't Even Ask - The Listing Agent Told Me About Offers and Prices
Why on earth would a listing agent disclose the number of offers and the offer prices to a buyers agent? I certainly do not feel that represents the seller very well. It is not something I would ever do as a listing agent.
It is not uncommon for a buyer's agent to call a listing agent and ask about offer status. Buyer agents want to know how many offers the listing agents have. Many will fish for information regarding the offers. For example: Are the offers in hand over asking price? How much over asking price? Tell me what it will take to get my client's offer accepted? Let's just cut to the chase - what will it take?
I called the listing agent on a property my client was considering making offer on. I simply asked him: Do you have an offer deadline? The listing agent proceeded to tell me he had two offers. One offer was for $485,000 and one for $490,000. Both of these offers are under the asking price of $499,900.
The listing agent went on and on telling me things that I would never tell buyers agents inquiring about one of my listings. He shared information that breached his fiduciary duty to his client.
Oddly enough, despite the spins many agents put on their questions hoping to glean this kind of information, I did not have to say a word. The listing agent rambled on telling me what I wanted to know - I didn't even have to ask. In fact, the more he talked the more I realized that the agents ethics are questionable, at best.
Frankly, it caused me to wonder if the agent can be trusted to tell the truth and disclose what should be disclosed. I actually started to feel like the agent was tying to get me to bring an offer at asking price.
Telling me that the offers in hand are under asking price is not a good strategy to get an agent, especially this San Jose real estate agent, to recommend my clients write an offer at asking price. In fact, the conversation was so fishy my clients wrote an offer on another property.
Do you think the seller knows that their agent was instrumental in selling another home?
I Didn't Even Ask - The Listing Agent Told Me About Offers and Prices - By Kathleen Daniels, San Jose Homes for Sale - 1-408-972-1822
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