WAH WAH WAH!!!! DON'T CRY ABOUT WRITING MULTIPLE OFFERS!!!!

By
Real Estate Agent with THE CHAVEZGROUP AT COLDWELL BANKER PREVIEWS INTERNATIONAL

Well here's the truth America! Your favourite realtor hasn't been in the real estate business long! To be truthful it's only been about 2 years and a few months...that little time span is enough to tell you that it's been a struggle and I have learned so much in such little time. I recently took a regular sale, yes that's right I didn't stutter a regular seller who can choose to sell his home if the price is right without have a bank tell him what's right or wrong. Well before I took this listing, I was working and still continue working with buyers. These buyers were overly qualified in the sense that they were definetely able, ready, and willing! With 20% down payment, and making offers based on comparative market analysis with criteria like 3 months solds, 1/2 mile radius, and the best comparables for the property and financing. One of my clients wrote 7 offers over the course of four months till we got one accepted. Another wrote 5 offers in one month and got accepted the 5th time. Here's where it get's fun the most recent client wrote a total of 17 offers over the course of 7 months, of the 17 offers we made 2 offers got accepted but we cancelled on one due to vandalism on the property and the bank not wanting to pay for the repairs. Now I have a regular sale listing and within 4 days of being on the market I have a total of 24 offers! I listed the property at $299,000 and have received offers at over 10% of the asking price. This home will go into escrwo after only being 10 days on the market! A lot of the agents are telling me that they hate this game that they keep getting into, which is multiple offers on one listing. Not only are the offers good and highly qualified but the main problem is there is a lot of dual agent representation going on. I have heard agents tell me of a time when you would just write an offer for the list price and then open escrow. Well the only buyers market I know is multiple offers, no return calls from agents, weird requirements from listing agents in regards to financing. At the end I am a surviving real estate agent but surviving of what? I guess a false belief or mystery that was once flashy cars, expensive suits, and lavish lifestlyles...... till that market comes, don't expect me to cry cause you have 7,825 offers on the second day you listed your cash only bank owned property, the only thing you can expect is a greatly written offer by an agent who has never seen those brighter days you all talk about! Happy to be in a thriving real estate market!

 

-Benny Chavez

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
California Los Angeles County Downey
Groups:
California Short Sales, REO's, and Foreclosures
Real Estate Rookie
Realtors®
The National Association of Hispanic Real Estate Professionals
Tags:
bankowned
foreclosure
reo
first time buyer
sellers
buyers
buyers agents
regular sale
listings
listing agents

Spam prevention
Show All Comments
Rainmaker
224,127
Laurie Mindnich
Centennial, CO

Yikes- good rant.

Oct 09, 2009 11:43 AM #1
Rainer
297,808
Gloria Laughton Allston
COLDWELL BANKER RESIDENTIAL BROKERAGE - Princeton, NJ
Realtor(NJ)/Broker(NY)

Wow good luck Newbie!!

Oct 09, 2009 11:49 AM #2
Rainer
45,386
Ray Leiva
Notary Public Bellflower ca - Bellflower, CA

viviendarealtyWhat's up Bruno!  I'm glad to see you are thriving. 

As far as the multiple offer thing.  I am not happy about writing so many offers.  Our job is hard enoegh as it is!  But I see your point, we need to forget about "the good old days" and deal with the present market!  Thanks for the wake up call, rookie!

You are wise grasshopper!

Oct 17, 2009 04:09 AM #3
Rainer
7,866
Benny Chavez
THE CHAVEZGROUP AT COLDWELL BANKER PREVIEWS INTERNATIONAL - Downey, CA

Hey Ramiro! What's happening! Hope all is well with you! Nice to see  you on here! Cheers!

Oct 17, 2009 05:30 AM #4
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
7,866

Benny Chavez

Ask me a question
*
*
*
*

Additional Information