Ms. Realtor Who Do You Think You Are? Honestly, this is deja vu for a client I had that was so similar to an associate's issue yesterday I needed to share it. When Mr. Realtor thinks he knows all - Who do you think you are? Warning all Realtors who give advice to other Realtor's clients, it just is not an appreciated practice in Rhode Island real estate and you have no idea of the facts of these clients.
Yesterday an associate called me up right after an open house in a slight rage and needed to vent obviously. His clients had come back from open houses and had found the 'perfect home'. Yes it was overpriced he said but they loved it. His sellers were totally excited. The selling Realtor (notice i emphasize SELLING) told his clients (who are also buyers) that the house would be lower next week (just what Your clients want you to share today right?). The listing agent's clients would do a hubbard on their house and my associate's clients could get a bridge loan until their home sold. Well my associate was beyond upset he could not contain himself.
What was that Realtor who did not represent his clients get off telling them what to do without understanding their indebtedness!? They own more than one house you see and need to sell both of them first. Well good Realtors sell homes right? Yes, but this listing agent was overstepping her bounds as a Realtor.
His buyers were so excited that they could get a bridge loan which he had not shared with them because it did not seem like the right financial option for them. They were all eager to make a higher offer on this home than he suggested because they wanted it and could lose it to another buyer. Perhaps...
Not so fast my associate says to them. You are house poor, retired and one of you went through bankruptcy in the last two years. Who is going to give you a bridge loan at a reasonable mortgage rate do you think? They stayed still and said well the other Realtor said it would probably not be an issue.
Well now you did it...put all your cards on the table and shared confidential information with the other party ( full disclosure: I am a cooperating agent with my associate on his clients property for sale). A true no-no. I wonder now where this transaction will go.
Please clients Keep Your Finances to Yourself when talking to other realtors that do not represent you. It is so important that home buyer's advice for you as a client comes from Your Realtor representing you if you trust them. Your finances are confidential and not to be shared with another Realtor then the one representing your interests. Revealing your personal information gives the other side an edge when negotiating the house of your dreams. Ms. Realtor Who Do You Think You Are?
Ginny Lacey Gorman is a North Kingstown Realtor who works and knows the waterfront RI real estate geographic area of homes for sale, schools, happenings and important tidbits of information well.
Waterfront, water view, ocean front, luxury and coastal Rhode Island real estate are my specialty. If your considering Buying, Selling or Relocating to Rhode Island and need a real estate Professional it would be my pleasure to help you! When you are in need of an internet savvy RI realtor® who sells homes in this real estate market, call Ginny today at 401.529.7849.