I had to cut a short sale prospective buyer loose even though it meant lost $$$ for me

Reblogger Rose Osman
Real Estate Agent with John Aaroe Group CalBRE 01274989

Original content by Ralph Gorgoglione RS-78439 / BRE #01708344

I had to cut a short sale prospective buyer loose even though it meant lost $$ for me

I have a listing that is a short sale.

We did a major price reduction this last week, in an attempt to create multiple offers from the open house that we did last weekend.

I have a prospect who contacted me last week and said she wants to buy the property for her son.

She is a realtor from another state and said she wanted me to represent her son, and credit the 3% selling commission back to her son.  Then she said she HAD to close in 90 days or less.

At first I said absolutely not, and also there's no guarantee we can close in 90 days or less on a short sale in the beginning stages.  Then she attempted to negoatiate the credit amount to maybe 2%.

We had a discussion about it, and I told her what I recommend she write on the property in order to get a successful offer signed off before the open house that weekend.

She haggled with me on the price, and I told her that I knew for sure there would be multiple offers on the property after the price reduction I did the day before WELL under market value, and that if she wants an accepted offer now she should heed my advice.

She did not budge and insisted on making an offer on her terms.

I then told her it would be in her best interest to find another agent to represent her on this short sale.

Well the open house has come and gone, and I now have 4 offers with 2 more on the way.

2 of which are about $30,000 over the last asking price.

It really bugs me when people think if they try and romance the listing agent that they will be able to get away with murder......

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