Submit My Offer, Or Else! A Matter of Ethics...

By
Real Estate Agent with Berkshire Hathaway Home Services Fox and Roach Northfield DRE#1008764

So I get a call from a gentleman on one of my bank owned properties. Then a voicemail. Then a text. Then another call. (I'm out showing.) I nicely text him that I'll call him back shortly, as I'm finishing up with a client. He called me 20 minutes later and says, "You didn't call me back." Ugh...  The conversation goes something like this:

Him: The house needs a new roof, there's a hole.

Me: No there's not. (It was repaired/replaced, almost seamless.)

Him: Yes there is. There's a leak in the house.  I saw it. (mind you, he hasn't been in the house.)

Me: No there's not.

Him: And there was a fire in the electric.

Me: No there wasn't.

Him: Yes there was.

Me: No there wasn't. What makes you think there was?

Him: I saw through the window.  Burnt wires. (not a burn ANYWHERE, no wires LEFT!)

Now let me tell you, you can't see ANYTHING through the windows of this house, the gas seals are all blown. I'm getting a bit annoyed at this point. So he asks is if I can show him the house NOW. I explain it's getting dark and there's no power on. He says he lives 3 blocks away. I do not. I agreed to drive to meet him. Walks in the door...

Him: There's no heat.

Me: Nope, there's no AC, either.

Him: The house has septic, doesn't work, no good.

Me:Yup, but you can hook into sewer 200 feet away for a quarter of the price...

Him: There's well water, no good.

Me: Yep but public water is right there at the curb.

Him: The roof is bad.

Me: PLEASE, let's not start that again...

He asks how much the other offer is that's on the table. I explain that I can't tell him that, it's illegal. "You can tell me!" he says. I asked him what number he's thinking. It's lower than the present offer that's on the table. He then starts back at square one and starts to plead his case again, I explained that it's not ME he has to convince, it's the bank.

Him: But the house needs $60,000 in work.

Me: No it doesn't, but what's your point?

I explain the house is priced with the needed repairs already taken into account.

"I won't pay that much," he says. "Well, somebody else might," I stated. "Nobody will!" he says.

Really? I explained that my other one last month went to a highest and best and sold for $13,000 over asking. I then explain that my job is to submit your offer to the bank. Again, it's not ME that you have to convince, it's the bank. He says, "Well, you'll do that for me."  I then have to explain to him that that is how the bank came up with the price in the first place, I already DID explain all of that to them. He then says, "Fine, I'll have my home inspection, and I'll demand a price reduction." I then have to explain that the chances of that happening are remote. He's buying the house as is.

He says, "I came directly to you so I can get the best price!"  I explain to him that he needs to understand that just because HE won't pay that price doesn't mean that somebody ELSE won't., "I know the house is in bad shape." I explain, "Hey, I'd love nothing more than to tell you this house. I don't get paid if I don't sell the house." He gets annoyed, and says to just submit his offer. I explained that it's less than the other offer on the table, he says, "Either you submit it or I'll get another agent that will! You have to submit my offer!" I say okay, fine, & I did. We go to a highest and best, and what do you think happens? He loses to another person who pays more than list price.

Whose fault is it that he didn't get the house? According to him, it's mine. He says I didn't explain how bad the house was to the bank. I had to explain to him that the house, like anything else, it is only worth what YOU'RE willing to pay for it. And the house was worth it to somebody else. He then yells at me that I was supposed to be representing him, & I didn't do that because he didn't get the house. Did I fail to mention that there were eight other offers on the table? And yes, he KNEW that. I now have to give him a lesson in ethics 101, explaining that there is no preferential treatment, and that I could lose my license if I had given it to him.  That HE was being unethical by asking me to tell him what other offers were on the table.  And that no single paycheck is worth my losing my career, my reputation.  

So the next time somebody says, "Submit my offer (lowball) OR I'll get an agent that will!" I will graciously pass them on to "someone that will..."

 

 

 

http://njrealtormama.com/2016/01/submit-my-offer-or-else-a-matter-of-ethics/

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  1. Jack Gerbehy 01/26/2016 07:45 PM
Topic:
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Location:
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Tags:
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Rainmaker
2,257,599
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Christine you are a better person than me, this conversation would never went this long with me for starters and if I had to deal with someone like that I would immediately advised him to get another agent and if he would like I would refer him to some one....these are time wasters which I can not afford in my business model, Endre

Jan 17, 2016 12:51 PM #1
Rainmaker
1,310,330
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I agree -- I would have him get another agent....  I had a similar type situation and the buyer did just that....

Jan 17, 2016 12:52 PM #2
Rainmaker
67,854
Christine Gerbehy
Berkshire Hathaway Home Services Fox and Roach Northfield - Egg Harbor Township, NJ
Making waves, one home at a time...

Endre Barath, Jr. I'd have loved nothing more than to pass him on, but I don't want to leave myself open to ANY type of qusetioning as to why I didn't deal with someone, you know?

Jan 17, 2016 01:05 PM #3
Rainmaker
67,854
Christine Gerbehy
Berkshire Hathaway Home Services Fox and Roach Northfield - Egg Harbor Township, NJ
Making waves, one home at a time...

Joan Whitebook it's appearing to be common in bank owned properties...  Everybody wants a house at a steal, but it gets ridiculous sometimes!

 

Jan 17, 2016 01:06 PM #4
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

That's when I'm happy to say, "I represesnt the seller, you'll have to find your own agent"

Jan 17, 2016 01:21 PM #5
Rainmaker
67,854
Christine Gerbehy
Berkshire Hathaway Home Services Fox and Roach Northfield - Egg Harbor Township, NJ
Making waves, one home at a time...

Yep, I'm learning to do that now, lol!

Jan 17, 2016 01:22 PM #6
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Praful Thakkar
eXp Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Christine Gerbehy - well, they assume that you'll help them buy a home that you listed, and give the discount, too!

Let them 'fish' in the pond of other agents....

Jan 17, 2016 03:25 PM #7
Ambassador
2,538,794
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Monday morning Christine Gerbehy .  I'm not too sure that I would have had this conversation with a gentleman. Folks will suck the life out of you if you let them.

Jan 17, 2016 06:14 PM #8
Rainmaker
67,854
Christine Gerbehy
Berkshire Hathaway Home Services Fox and Roach Northfield - Egg Harbor Township, NJ
Making waves, one home at a time...

Praful Thakkar omg, yes!!!!

Jan 17, 2016 11:29 PM #9
Rainmaker
67,854
Christine Gerbehy
Berkshire Hathaway Home Services Fox and Roach Northfield - Egg Harbor Township, NJ
Making waves, one home at a time...

TeamCHI - Complete Home Inspections, Inc. HELL YES!!!

Jan 17, 2016 11:30 PM #10
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Anna Banana Kruchten, CRS
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana of Real Estate!

Christine I think it's a good idea with this type of person to let the know early on that he needs his own representation.  And I'm also guessing he's tried to get somebody but others have turned him down....just saying. When our market was flooded with bank owned properties this type came out of the woodwork and had unrealistic ideas not founded in reality. Next...

Jan 17, 2016 11:36 PM #11
Ambassador
2,430,875
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

No good deed goes unrewarded.  That buyer just wanted a special gift and felt hos needs were beyond anyone else's reality

Jan 26, 2016 07:59 PM #12
Rainmaker
1,237,411
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One - Carlsbad, CA
Presence, Persistence & Perseverance

Christine Gerbehy This 'buyer' sounds like a real piece of work and is his own worst enemy. Your future MO is most likely the correct one.

Jan 26, 2016 11:33 PM #13
Rainmaker
1,253,024
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

I totally agree that his best option is working with another agent. And it was your best option too. Those kind of buyers can be very difficult to work with.

Jan 29, 2016 10:44 AM #14
Rainmaker
1,253,024
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

And I noticed you have subscribed to my blog, so I am thinking you for that.

Jan 29, 2016 10:45 AM #15
Rainmaker
1,192,707
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Christine -  like the others said I would simply tell this guy to go ahead and find an that will.

Apr 19, 2016 08:27 PM #16
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Rainmaker
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Christine Gerbehy

Making waves, one home at a time...
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