I Don't Care About Your Stinking Badges!

By
Real Estate Agent with Diamond Ridge Realty

 

 

Look what’s in my email box -- Great News!  I really NEED to see a backup offer for that listing from someone that knows what she’s doing.  With all these badges at the end of her email, I just KNOW that I must be working with someone that had just given me a great offer.

 

But how come I don’t recognize her name?  I know that I set up the Supra lockbox to text me with agent information once opened.  Maybe I need to go check the box settings; I’ll do that after I read the offer.

 

Oh look, she used DocuSign for her client signatures.  I’m really looking forward to seeing the offer details. 


 

Oh.


 

OH!


 

What the heck? 


 

Why make this offer ‘Subject to Interior Inspection”?  The listing clearly states vacant, go direct, supra installed.


 

OH NO, SHE MUST BE KIDDING.


 

Did she not read the listing?  Is this a mistake!?!  My listing states we are an ‘Approved’ short-sale at the listing price.  It took me a while to get the approval at that reasonable price.  But unfortunately the home has some issues which really do justify a selling price of $320,000.


 

WHY ARE YOU OFFERING $400,000 FOR THIS PROPERTY?!?!


 

So I quickly emailed her back:

 

 

Your client’s offer is received.  I personally do not believe that the sellers will accept the offer as this offer is highly unlikely to be supported by an appraisal on the property.  I also don’t think that they will be comfortable with a ‘subject to inspection’ clause as the property is vacant, has a supra, and as such is readily available for buyers to view and contemplate prior to submitting an offer.

 

But of course it is a seller decision on whether to accept, reject or counter-offer to your client.  I’ll let you know their decision as soon as I hear back.

 And she quickly replied:

ok then may I ask how you  get an offer accepted..do you think really that the seller cares?? They as you and I know just want to short sale it so they can move on..When the lender rejects it then it goes to appraised value..they  are approved for this amount and need to move..and it could be priced low to stop the sale..no one ever knows..

As I said  we will be viewing it this weekend..

And it is in backup status..so you are welcome to keep it in backup..as you know many buyers don't want to wait the time for a short sale..

 Yes, the sellers care.  They care VERY much and want to make sure that they SELL the house and not have a foreclosure.  The lender will never recoup a full payment on the property but I just can’t believe that you think my sellers should accept an offer of $400,000, forward this to the bank for approval, obtain the short-sale approval at $400,000 and then have your clients actually see the home.  Do you really think that the seller should risk playing around with your client’s offer and ask for approval to sell to YOUR client (their names need to be on the approval letter) for an amount way too high?  Do you really think it’s easy to just move the approval letter back down from $400,000 to $320,000 once your appraiser comes in and tells your client that the property is worth the original approval?  What do you think the short-sale bank would do if we were to actually counter your offer at $320,000 rather than accept your $400,000 and submitted all the contract documentation to them for review?

 Do YOUR clients care what home they buy?  Do they really not care what the home looks like?

 I was almost fooled but I tell you…

         I really don’t care about your stinking badges.

 

 

 

Comments (15)

Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Michael. The longer I'm in the business the more bizarre things that cross my desk. Badges, smadges....it's about smarts, skill and integrity.

Mar 30, 2012 01:48 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

What a situation, Michael. Your clients are fortunate to have your knowledge and expertise at work for them. Here's to a proper offer, coming soon!

Mar 30, 2012 01:51 AM
Ralph Janisch ABR CRS Broker
Janisch & Co. - Conroe, TX
Selling Northwest Houston to good people like you!

Wow.... that's certainly a weird scenario.  Frankly I don't understand the buyers agent's need for the games.

Mar 30, 2012 01:55 AM
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

~I think it's called a condondrum! The appraisal system is bad at/most times.IMO

Mar 30, 2012 02:05 AM
Kathryn Maguire
GreatNorfolkHomes.com (757) 560-0881 - Chesapeake, VA
Serving Chesapeake, Norfolk, VA Beach

Gotta love your Blazing Saddles reference.  But that purchase offer does not pass the smell test.  Why would a buyer agree to offering a purchase price $80,000 over list  Strange does not begin to describe it.

Mar 30, 2012 02:24 AM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Michael

Interesting situation and good read. I need to think about this a bit longer for this happens quite often here in the Napa Valley. Maybe not 25% higher, but with the so hot market here and the many multiple offer situations in certain price ranges, an offer over an appraisal is quite common. Most SS and REO will come down to the appraisal price here so maybe getting the competition out of the way???

Still thinking on this, cheers cvc

Mar 30, 2012 02:47 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Have an outstanding week with your camera in hand.

Jun 19, 2012 10:47 AM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Bizarre - how many offers did they make just like this. Is your market so strong that they're terrified of losing out on a great deal? 

Short sales are horribly sad for the seller, and it sounds like you've found buyers who are trying to take advantage of someone else's misfortune. Sad.

Jul 15, 2012 05:10 AM
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate

Love the phrase "Badges - Smadges" How about "Letters - Smetters" they mean nothing in the day to day "real world" of real estate.

Aug 11, 2012 06:07 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Michael -- sounds like a buyer who is submitting random offers in an attempt to have one accepted.  

Oct 27, 2012 02:27 AM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

Michael that is simply crazy that this agent would even allow her own time to be wasted in this manner.

Feb 07, 2013 11:46 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh my Gosh Micheal - that is insane. I figure anyone who has to hide behind so many stinking badges must have something going on...

When I get those emails with all the designations attached, I just smile. Who the heck cares? Not me.

Apr 09, 2013 04:11 AM
Joni Bailey
101 Main St. Realty - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTOR®

Hey! We have a Badge Lady around here, too. She sends over offers that are not signed. I wonder which class she learned that one in?

P.S. She also asked for comps because she is "from Houston and doesn't know this area."  OH MY! 

Aug 22, 2013 10:38 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Nothing wrong with DocuSign signatures in my opinion, but the rest of the offer makes me cringe. I surely hope the seller has a better choice.

Jan 11, 2014 01:22 AM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Michael, I know what you mean about stinkin' badges. They may have the badges, but don't have the sense behind them.  It's like a Real Estate Agent in Indiana that has been around forever, but she still puts an "I" in REALTOR(R). It makes me cringe.

Mar 04, 2014 05:09 AM

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