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Representing Me...oh, I mean my buyer!

By
Real Estate Agent with Keller Williams Indy NE 317-290-7775 www.marchantteam.com

Hi, Cindy from Indy here.  In an effort to win for my buyer; we lost the house. Those are tough words to swallow for me. I had a buyer who wanted a home, the seller was upside down in the home and needed our help in the purchase price and the repairs. Initially, we worked with the seller to move up the closing date so she wouldn't have as high of a payoff and we took on one of the installments of taxes to also help. (Taxes are paid in arrears here) I felt like we were still in the "good" price for the home for my buyer with these concessions.
The inspection showed quite a few items. Before the other agent even had estimates, he was asking for us to split $1,200 four ways. Each agent and the buyer and seller would give up $300. I blew a gasket; I admit it. I felt like we gave on the purchase price and quite frankly told the other agent, his seller's financial problems were not my or my buyers problems. I told him they either fix the major items or we walk away. Perhaps I was a little too ugly as I look back on that. In the meantime, I gave the list to a couple of my handyman people to get estimates. It was about $4,000 in all; and $1,800 was in major items. One of those was undefined, depended on further analysis. I forwarded that to the other agent (thinking why am I doing all the work???). The seller couldn't/wouldn't do it; so we walked. A week later my buyer decides there isn't anything else out there, so let's go back. We do, and I tell the other agent...let's try to figure out a way to get this done. There was one item in particular the seller was sure wasn't broken, I wanted to go out the house to show her what I saw the inspector point out and see what she saw. The sellers agent was working on getting that meeting set up...then late on a Saturday night he emails me and tells me they took another offer. I was a bit livid. Why wouldn't he want to work with us now...then I remembered the email I sent and I feel like maybe I was to blame.

Frustration!
But things happen sometimes for a reason...we found the exact same house a week later (not as nice of a yard) but for 15% less in price because it was an estate. Yippee!!! We bought it within about four hours of it going on the market and the inspection had two, count em two! items on it. This is really a much better house at a much better price...so I feel good.
The problem is sometimes we fight so much for our buyers or sellers; our personal interests of what is right and wrong get in the way and we need to remain focuses on what the buyer or the seller want to do. It is THEIR decision. Lesson learned!

Smiles

P.S. First time using pictures, boy do I need to work on this part of posting!!

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Comments (2)

Donna Marie Godfrey
Godfrey Properties - Pottstown, PA

I have learned to only give my guidance when asked as sometimes my Italian temper boils over.

May 16, 2008 01:44 AM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I always try to look out for my buyers best interest and sometimes I have to just say to the buyers, what can you truly live with or without on the repairs. If we put this forward and they turn us down are you prepared to walk? If they say they are willing to walk then the house may not have been for them. If they say, no they really want the house, then you present the offer and if they turn it down then you just go forward with the transaction.

Jun 01, 2008 05:11 PM