What Happens When the Other Agent is the Buyer?

By
Real Estate Broker/Owner with Franklin Homes Realty LLC

Real estate transactions can be plagued with anger and conflict. That's why working cooperatively with the agent on the other side of the transaction is so important.

What happens when the other agent is the buyer? Can the agent objectively manage the transaction just as she would any other transaction?


I had two of my listings go under contract within days of each other. These transactions had similar timelines for contingencies and closings.

In the case of Agent #1, everything progressed as most of my transactions do. We worked together to get our clients to closing. Over the five weeks between contract to close, we exchanged 14 emails and less than 5 phone calls and even fewer texts. That transaction closed yesterday without a hitch.

What Happens When the Other Agent is the Buyer?Over this same five weeks, Agent #2, who is not only the buyer's agent but the buyer, has tormented me with over 50 emails and so many phone calls and text messages that I've lost track. Why so many? Because she wasn't contacting me as a buyer's agent, she was contacting me as a buyer.

I communicate very well with my clients and the agents on the opposite side of the transaction. However, I try to convey as much information as possible in one email or conversation. Otherwise, clients and agents have a tendency to think you're disorganized.

They lose confidence in your abilities if you contact them about every little thing that comes up. Sellers want to know everything is being handled to their satisfaction without being pestered. But that's exactly what this agent/buyer expected me to do.


With all of this communication going on, you wouldn't think there would be any reason for this transaction not to close on time. Unfortunately, you'd be wrong. Because while this agent/buyer was contacting me about all the things she wanted to have happen prior to closing, she neglected to disclose a request for a second appraisal (less than a week from closing) or a follow-up inspection by the lender for a roof replacement. (I didn't learn about that last item until 2:00 today, less than 48 hours before closing.)

Learning about these types of things so late in the game makes me look bad and I don't like looking bad.

So, here we are 32 hours away from closing and suddenly silence. My clients have already moved all their belongings out of their house, the utilities are scheduled to be disconnected tomorrow and we don't know what needs to happen to get this thing to closing as scheduled.

The goal is always to get the transaction closed as stipulated in the contract. Real estate agents are able to do that by working cooperatively together.
This agent did herself and the real estate profession a disservice by representing herself.

What happens when the other agent is the buyer?

The agent contacts you as the buyer, not as the agent. By doing this, she made countless mistakes on this transaction. I think if she had provided this type of service to any other client, they would have fired her.

In the future, I will definitely advise my clients of the pitfalls that may be associated with buyers/agents who handle their own transactions.

Posted by
Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.
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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Joe Jackson 06/26/2012 10:02 PM
  2. Lenn Harley 06/26/2012 10:23 PM
Topic:
Real Estate Best Practices
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent
Tammie, that sounds like a real pressure cooker. I bet you can't wait for closing to be over.
Jun 27, 2012 03:43 AM #27
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Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Tammie...A listing I had sold to a buyer/agent and it went very, very smoothly.  He had been scouring that particular area for quite a while, had a very good idea of value, and was excited about his purchase.  It was one of the easiest transactions I've ever had.

It's really our sellers that will dtermine which buyer's offer they will accept.  I know that you know that but are frustrated at the ordeal this particular buyer is putting you through.

Hang in there and breathe a big sigh of relief when you do get to settlement.  Please let us know. 

I can parking for your good news!

Kate

Jun 27, 2012 04:31 AM #28
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Chris Ann - Excellent point.

Public observer - No I don't have the authority to choose the buyer but I can advise my clients of the pitfalls associated with buyers/agents who handle their own transactions. Ultimately, it is the seller's choice. I modified my orignal statement to reflect that.

Debbie - I can't.

Kate - As I stated above, i obviously know, the buyer is the seller's choice.

Jun 27, 2012 04:34 AM #29
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Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Tammy -- now that we  are 20 hours from closing, I hope things are settling out, and you might be able to see the closing table coming.

Jun 27, 2012 05:09 AM #30
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Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
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It's about the same thing with a FSBO. They don't have an agent, so they're always calling/emailing on their own behalf and not sure what to do next... yikes!

Jun 27, 2012 07:22 AM #31
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Steven - The closing has been extended. Unsure if it will happen Friday or Monday. It depends when the follow-up inspection is done.

Donna - Don't say that, I have a client considering a FSBO right now.

Jun 27, 2012 07:31 AM #32
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Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Tammie:

I can see how the agent could forget her usual routine acting a a buyer's agent.  She is not the buyer's agent she is the buyer and she is act like a buyer would act.  Not good.  I hope the transaction closes on time.

Jun 27, 2012 09:55 AM #33
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Brenda Mullen
RE/MAX Access - Schertz, TX
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I think that as agents, we are uniquely suited to handle our own transactions...HOWEVER, if we become to emotional and cannot objectiviely handle it, (buying or selling), then it is time to turn it over to another agent you can trust.  

Jun 27, 2012 10:53 AM #34
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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
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Typically, what I have found when a transaction is being micro-managed ... is exactly what you are seeing.  MORE problems, not fewer problems.  The focus goes askew and what should be taken care of in reality, is often overlooked.  I send my best wishes for this to be over successfully soon ... and put behind you.  

Gene

Jun 27, 2012 11:36 AM #35
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Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745 - Idabel, OK
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I've had a few agents that litterally called a dozen times a day plus emails and texts and they were working for a buyer.. they wanted me to know every little tittle that they were even talking about.. UGH! 

Jun 27, 2012 11:57 AM #36
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Bas Panch
SCV Home Buyer - Valencia, CA

Hi Tammie,

Congratulations on the feature! This is a really interesting post, and so are the comments. Sorry to hear this agent gave you a hard time. It would've been better if they'd kept themselves detached and set some boundaries. Keep up the good work as a top Franklin TN short sale agent!

Jun 27, 2012 12:39 PM #37
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Michael Jacobs
Pasadena, CA
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Tammie -- first, sorry you are going through this and second, congratulations on the feature.   As some others have stated I also believe an agent has the right to represent him/herself as the principal in the transaction -- but it's all situational(as you have found) but I would never want to make it a "rule" --- just my feelings and I've seen it too -- both good and well, not so good.   

Jun 27, 2012 01:24 PM #38
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Evelyn - The closing has been delayed. Hopefully by Monday.

Brenda - That's my take.

Gene - My hopes exactly.

Judi - It's possible this is the way she works but it's not my style.

Bas - Agreed.

Michael - I think there are probably some agent who could keep their emotions in check.

Jun 27, 2012 01:43 PM #39
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

In a court room the expression is "The lawyer that represents himself, has a fool for a client'. You just saw that applied to real estate as well.

Jun 27, 2012 02:06 PM #40
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Ed - I guess so.

Jun 27, 2012 02:43 PM #41
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Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

Hi Tammie, I've bought and sold homes for myself successfully, if I do say so myself. But, that's because I'm special and good!! LoL

Jun 27, 2012 03:10 PM #42
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Bob Crane
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Hi Tammie, sorry for your troubles with this agent, Is this agent just incompetent on this deal or is this agent incompetent on all transactions? 

Jun 27, 2012 07:58 PM #43
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Sandy - I know you are.

Bob - I suspect the latter.

Jun 28, 2012 12:05 AM #44
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
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Hello Tammie,I'm sorry for what happened to you and how the agent gave you so much trouble.You don't deserve this.Also I just want to say how excellent this feature is.Great job! Keep doing a great job and continue being an inspirational Franklin TN Short Sale Agent.

 

Jul 02, 2012 06:46 AM #45
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Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Katerina - It looks like we'll finally close on this tomorrow. I will be happy to have this one behind me.

Jul 02, 2012 02:25 PM #46
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