Mr. Listing Agent You Are Not Inspiring Confidence in Mrs. Buyer, much less a warm and fuzzy feeling. I realize this is my responsibility but you are making my job extremely difficult!
To the contrary your actions are adding additional stress to an already hugely stressful event. Mr/Mrs. Buyer, whom I represent, have committed to purchase a short sale transaction which was not a decision made lightly. We researched, analyzed and discussed the possible ramifications but the buyers want this home and are willing to take the gamble.
Issue # One
So imagine my dismay when the day after receiving the executed contract Mrs. Buyer discovered the listing was still showing as Active on the MLS. Now according to CAR in the article MLS Short Sale and REO Issues,
Legally speaking once an offer has been accepted and signed by both buyer and seller, a contract has been formed. The contract is contingent upon approval from a Lender but there is an acceptance which triggers the requirement to change the status on the MLS.
I contacted the Listing Agent and was told his policy is to keep an active status when dealing with short sales due to the high percentage of buyer fall-out. I have forwarded a copy of the CAR article and continue to wait on his response. (I'm open to any other suggestions.)
Issue # Two
Now a second issue has reared it's ugly head. Guess what? On Saturday, Mrs. Buyer decided to do a drive-by and show off the new home to her friends. The Listing Agent was holding an Open House! Mrs. Buyer called me quite upset. I did my best to reassure her and calm the situation by explaining the Agent may have previously made arrangements for an Open House on this date prior to receiving and accepting our offer. However we have a fully executed contract which is legally binding.
Still I called the agent to confirm the truth of my explanation. I suggested that future Open Houses be cancelled as it could be misconstrued or considered mis-representation.
Article 12 of the NAR Realtor Code of Ethics states "Realtors shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing and other representations."
Issue # Three (If there is a # 3 I'm afraid we will be out and the buyer will cancel)
I understand your responsibility is to the seller and you are a busy agent but Mr. Listing Agent "You are not inspiring confidence in Mrs. Buyer! Perhaps if we work together we can keep this deal together. I am not your adversary and keep in mind these qualified buyers want to purchase your home.
Honestly I would not be surprised if I receive a call from Mrs. Buyer asking to view more homes.