After reading a post (written to members only) regarding a listing agent requesting some details from a buyers' agent about her buyers' transaction, I thought I'd share my thoughts on this topic. We are listing agents and have received offers from agents who are anxious to close their buyers on a home. However, there are facts that we need to confirm in order to protect the seller and prevent a financial disaster for the seller.
Chains of transactions are common today. When there is a series of transactions relying on the previous buyer to perform, the water can get very mucky very quickly. How irresponsible of a listing agent to not question the status and to not request to see some documentation of those deals. One failed step along the way will cause many fallen transactions. The one at the end, our seller, will take it on the chin.
Our listing will have to show as pending, and no buyers' agent wants to be a backup on an existing pending home. Marketing time will have been lost, and if the seller goes forth and commits to a purchase, there could be a financial loss.
It's necessary to request some written documentation regarding the chain of transactions. We do, and we have not had any problem with receiving the requested information. It's not a personal attack on the buyers' agent. None of this is personal, it's business. It's good business for a listing agent to protect the interests of the seller. Don't take it personally, we're not questioning your ability, buyers' agent, we're confirming the strength of the chain that we're being asked to rely upon for the success of our transaction. It's not personal!!!
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