Profiles in Real Estate: Incompetent Agent wants a Do Over

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Real Estate Agent with Sunset Properties, Powered by Movoto DRE #01485322

Profiles in Real Estate:

Incompetent Agent wants a Do Over

 

I'm in the midst of a transaction that should have few, if any hurdles to overcome.  My error was thinking that would be the case.

  

The property is being purchased by the tenant's parents.  The U.S. is not the buyer's country of origin and this is the buyer's first real estate purchase in America.  It shouldn't be an issue at if the buyers were getting proper guidance.

 

The unfortunate part is that the buyer's agent is acting as though this is his first transaction, too.

 

The buyer's agent asked for a 21 day contingency period, saying he's always found 17 days to be very difficult to accomplish.  Really?  It's easy for most agents.

 

When I asked for a confirmation of wire for the earnest money deposit, the agent wouldn't give me a straight answer.  He finally sent me an email of a deposit slip.  I provided wire instructions and I get a deposit slip?

 

For both the appraisal and the termite inspection, the tenants (whose parents are buying the property for them) were unhappy with the scheduling options the service providers offered and wanted them changed to perfectly suit their schedule.

 

As the contingency removal date approached, I reminded the buyer's agent the buyers were scheduled to sign off in two days.  Silence.  Then the day before contingencies are set to be signed off, the agent emails me that the buyers want to make a change to their loan and add their daughters (the tenants) to the loan and the underwriter wants a new contract written.  A do over?  No.

 

I spoke with the lender and said we can put our heads together with escrow and work with him to work it out, but any do overs will be with a new buyer.  

 

In the meantime, the failure of an agent got his nice client to email a plea directly to the seller/landlord for more time to remove contingencies and close escrow.

 

The buyer is a very nice man and an accomplished man.  He holds a high position in a large international company.  He has no idea he's receiving terrible guidance.  The timelines in the contract are nothing out of the ordinary, but the agent is giving the buyer the impression that they are.

 

The nice buyer has no idea he is represented by an absolute failure of an agent who has managed to gain his trust. 

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Comments (12)

Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Jill Murty, Realtor - Serving Orange County, CA there are too many of those agents in our industry..... it makes my blood boil...

May 03, 2015 10:49 PM
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Sounds like a few I have been thru with new agents.  I  am glad I had proper guidance thru my broker and agent friends  when I was New.

May 03, 2015 10:55 PM
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Jill Murty, Realtor - Serving Orange County, CA The buyers agent sounds like a disaster that does not understand what a contract betwen parties means. In many other countries, the real negotiations do not start, until after the contract is agreed upon. This may be the case and the buyer is trying to accomodate the pressures from the buyers. It may be necessary to declare a breach and re-list the property...it will sell to someone who understands our system.

May 03, 2015 10:56 PM
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Good morning Jill,

A pain int he neck to have to work both sides of a transaction when they have an agent.

Make yourself a great day.

May 03, 2015 11:00 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jill, wishing you lots of luck with this one, agents can be their own worst enemy!   I have one I am trying to close this week, and has been a struggle! 

May 03, 2015 11:31 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Sounds like a mess. Perhaps it's time for the Notice to Perform? Lots of red flags, the biggest being waved by the B.A.

May 03, 2015 11:44 PM
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

Barbara Todaro - My blood is definitely at the boiling point!  Some agents insist on creating issues that are not in need of being created.

Rose Mary Justice - Crazy as it is, the agent isn't new; just crappy.  It would have been nice if he had received the proper guidance like you did.

May 04, 2015 12:58 AM
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

Sandy Padula and Norm Padula, JD, GRI - The agent and buyer are from the same country and I agree that cultural things may be at play.  

The reason I put the blame on the agent is that the buyer and landlord have had a very polite and cordial relationship in the years his daughters have been tenants in the property.  As soon as the buyer's agent was part of it, it all went sideways.  

Because the Dad of the tenants has always been nice, the seller/landlord doesn't want to take the action that would normally be taken.  I wanted to kick them out when the EMD was late and many times after.

Each time they're out of contract, I put the property back on Active status and I get calls right away from agents and prospective buyers.

May 04, 2015 01:10 AM
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

Raymond E. Camp - A pain in the neck for sure!

Thanks Joan Cox - I'm glad you're near the finish line on the one you're closing this week.  It's such a relief to especially when the tough ones are done.

May 04, 2015 01:48 AM
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

Jeff Dowler CRS - The seller/landlord is reluctant to take the Notice to Perform route because she and the landlord have a friendly and cordial relationship.  

I first wanted to issue an NBP as soon as the EMD was late.  I told the seller I thought the buyers (the agent) would blow the contingency removal and I wanted to issue an NBP two days before the contingency period was up.  

The seller is really nice and likes the buyers.  Because of that, she wants to give them more of a chance.  I can say with great certainty that the seller/landlord is not a fan of the buyer's agent.

I feel bad for the buyers that their agent has successfully fooled them into thinking they have good representation.

May 04, 2015 01:53 AM
S. Leanne Paynter ☼ Broward County, FL
United Realty Group, Inc. - Davie, FL
Davie, Plantation, Cooper City & Weston Specialist

It sounds like the buyer's agent doesn't have much experience at all.  Just because he's not a new agent doesn't mean he has much experience.  Hopefully, it'll all work out in the end.

May 06, 2015 03:31 AM
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

S. Leanne Paynter ☼ Broward County, FL - Yes.  Some agents plug away for years leaving a path of destruction in their wake.

The buyer has been contacting the seller directly, probably at the direction of his incompetent agent.  

With the seller's permission, I wrote an email to the agents saying that in their new roles of Seller and Buyer, both with representation, there should be no direct contact or attempts by the buyer to negotiate directly with the seller.

It's a ridiculous situation.

May 06, 2015 03:54 AM

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