You Told Me That Writing A Full Price Offer Was A Waste Of Time!

By
Real Estate Broker/Owner with Safe Haven Realty CalBRE# 01433049

Oh boy. I got a very nasty e-mail from another agent the other day. It started with "You told me that writing a full price offer was a waste of time!". Then he followed up with "I can't believe you sold that house for that low of a price. My client would have paid more than that!".

Well howdy doody to you too. Yes, Mr. Agent, when you called and asked how many offers I had, I told you I had 4 offers in hand. Then you asked if writing a full price offer would be a waste of your time. I said "YES".

Apparently, Mr. Agent, you feel that properly representing your client is a "waste of time" unless you can be told that your offer, which you evidently don't have time to write, is a clear winner.

Those 4 offers I had were all above asking price. That is what the agent was fishing for and he got his answer. So why he turned around and admonished me for giving him the answer he was fishing for, and then not acting on that tidbit of information, is beyond me. Why didn't he write an offer for what he tells me his client would have paid?

My opinion is, Mr. Agent, if your client lost out on buying my listing because you were unwilling to write an offer for the price they "would have paid", then maybe your client needs to consider working with a different agent.

 

Posted by

Safe Haven Realty

Cynthia Larsen (707-332-2560) is an independent broker and owner of Safe Haven Realty in Sonoma County, California. Visit www.safehavenrealty.com to view available homes for sale and to learn more about this beautiful wine country destination.

CA Broker License #01433049

 

 

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Rainmaker
458,673
Rob Spinosa
Guaranteed Rate, Marin County, CA - San Anselmo, CA
Vice President of Mortgage Lending, Marin County

I don't know the buyers' situation in this case, but often there is a value to writing even when the odds of getting the property are low.  "You have to kiss a few frogs" is the mentality here and some of the best agents with whom I work will encourage an offer because the exercise can prove valuable in the grand scheme of the search --- whether this property or the next.  So if this agent is holding back based on odds, it could indeed be hurting his clients in more ways than one.

Nov 29, 2017 05:27 AM #13
Rainmaker
493,304
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

"My client would have paid more than that." So why hold back in a multiple offer situation? From the sellers side, it's not just the price but the "cleanest" offer with the least or no contingencies.

Nov 29, 2017 06:26 AM #14
Rainmaker
267,673
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

I have a listing that is an investor type property.  I've had numerous calls, emails and texts asking if the seller will take from $40-60K less than list.  I've told everyone to "write it up".  Yesterday we signed an offer close to list and now I have all of these "prospective buyers" mad at me because they "didn't get a chance".  Really, no, you had a chance. 

Nov 29, 2017 06:32 AM #15
Rainmaker
78,760
Walt Fish
Bay Area Home Inspection, LLC - Marquette, MI
Upper Michigan's Most Experienced Home Inspector

Around here in the lower prices ranges, we have quite a few bank repos. The listing agents sometimes low ball the price and then try to start a bidding war. All things being equal, the winning offer is most often represented by that same Realtor. These are generally cash deals where no appraisal is done.

Nov 29, 2017 07:03 AM #16
Rainmaker
578,001
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Seriously, I don't know how some agents manage to tie their shoelaces in the morning. LOL
Don't call and try to feel me up. Just write the damn thing and send it! 

Nov 29, 2017 07:32 AM #17
Rainmaker
1,371,741
Mike Cooper
Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Sales Pro

Cythina, well, he can't say you didn't give him the straigh scoop. People do seem to be testy today. What's up with that?

Nov 29, 2017 06:28 PM #18
Ambassador
3,614,909
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Cynthia

Sounds like an agent who is embarrassed he did not do the job he was supposed to do - represent his client to the best of his ability - and goofed up, so he needs to blame someone else rather than take responsibility. Probably got an earful from the buyer, and deservedly so!

Jeff

Nov 29, 2017 08:09 PM #19
Rainmaker
552,702
Tim Maitski
Atlanta Communities Real Estate Brokerage - Atlanta, GA
Truth, Excellence and a Good Deal

When I got finished reading your post, I was confused.  Why did that agent complain that you sold it for so low when you stated that all four offers were above list price. I was wondering if maybe during the inspection that maybe the seller had to give a lot of concessions?  So it left me hanging.  I had to read the comments to find out that the final price that was accepted was actually above list price in order to confirm that the agent was off base and was a stupid  *ss.

Nov 30, 2017 05:02 AM #20
Rainmaker
2,670,060
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It seems to happen more and more in this market when new listings sell quick and a buyer agent does not write an offer becuase they were too busy, waited too long or told their buyer to try offering less to start. 

Nov 30, 2017 05:21 AM #21
Rainmaker
91,899
Doug Cook
Coldwell Banker Brown Realtors - O'Fallon, IL
Better Service, Better RESULTS!

I can relate, Cynthia.  A few months ago, I had an agent call with the typical question regarding the existance of other offers.  I had permission from my seller to disclose that we did so I informed the agent and he submitted a rather low offer.  Instead of letting either party submit a second Best and Final offer, as is common in our area, my client decided to accept the highest offer he received because he knew both buyers had knowledge their offers were in competition.

The other agent was furious!  Told me I was an idiot because his client would have paid well over asking price.  I had to chuckle at the irony of this guy calling me an idiot over my seller's decision.  Then, HIS client calls me explaining that the house was perfect and begging me to convince the seller to reconsider.  I could feel the stress he was under as they had been looking for a home for quite a while and his family was crushed.  I felt bad for them but directed him back to his agent.  He told me that guy was no longer his agent because the offer he submitted was based on his agent's advice and assurance that if it wasn't high enough, they would have an opportunity to submit another offer. 

And he called me the idiot...

Nov 30, 2017 05:37 AM #22
Rainmaker
505,512
Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor

Got my attn. on this one ! I too have been on this journey with multiple offers and agents not taking heed and submitting offer even if multiples in hand. if they want consideration at all, they have to be in writing. period. Really simple. 

Nov 30, 2017 07:40 AM #23
Rainmaker
442,990
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Specializing in Brookside, Waldo, Prairie Village

I always enjoy reading a blog like this, where I feel the agent is venting about a particular experience.  What a waste of time, plus it's very petty, to even question the final sales price of the house.  He/she wasn't involved in the transaction, the inspections, the negotiations after inspections. Would not want to work with that agent ever.

Nov 30, 2017 08:45 AM #24
Rainmaker
143,203
Melissa Spittel
Coldwell Banker Residential Brokerage - Westminster, MD
"Achieving Results Together "

The sad truth is, buyers and sellers usually don't realize they selected an agent who will not provide superb representation. Real estate agents are no longer "all the same". The level of professionalism and "standing out from the others" has risen. If only the general public saw it that way.

Nov 30, 2017 09:39 AM #25
Ambassador
205,992
Jon Sigler
Keller Williams - Greater Hartford - South Windsor, CT
South Windsor Homes for Sale 860-306-8029

If they were willing to, they should have shown so in their offer!

Nov 30, 2017 10:20 AM #26
Rainmaker
1,870,939
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Make the offer. Or don't. Does not take that long to use the software and keeps the buyer in your corner. Doing nothing unless a sure thing is lazy.

Nov 30, 2017 11:40 AM #27
Rainmaker
350,843
John Wiley
Right Move Real Estate Group- EXP Realty - Fort Myers, FL
Lee County, FL Real Estate GRI, SRES,GREEN,PSA

This may be an example of an agent the did not know as much as he thought he knew.

It would appear that the buyer might be more upset with their agent than he was with you.

Congratulations on a good sale.

Nov 30, 2017 12:29 PM #28
Rainmaker
150,699
Corey Martin
Martin Presence Group - Ruston, LA
Real Estate and Management Solutions

He had nothing to lose by putting an offer down. It doesn't even make sense that he didn't make an offer. Oh well. His loss. I'm sorry he took out his frustrations out on you. 

Nov 30, 2017 12:31 PM #29
Rainmaker
234,650
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

How funny folks often think the price is the only consideration for an otter.  Cash vs loan, closing date, closing costs, too high of an offer, etc.  BUT, if you don't write an offer, it doesn't really matter.  You can't win if you don't play!

Dec 01, 2017 06:23 AM #30
Rainer
385,571
Anna Hatridge
Goodson Realty - Farmington, MO
Missouri Realtor with Goodson Realty

Amazing how some people are always looking for someone to blame when they don't get the results they want from their less than stellar efforts.

Dec 01, 2017 07:34 AM #31
Rainer
83,009
Patrick Willard
Rio Rancho, NM

Up until about 4 years ago I mainly listed REO and often had listings with multiple offers. Had one several years ago that generated 10 offers over one weekend. Four of the agents asked what my highest offer so far was and of course per bank proceedure I told them I would not disclosed details of offers, just that we had multiple offers and to submit highest & best by Sunday evening. All four became nasty and accused me of having my own buyer and trying to "screw them over" so I could double end it. A couple even went as far as threating to file a complaint, which was ridiculous considering we hadn't even sent any offers to the seller yet.

Three of those four were submitting offers for themselves. In my experience, those that accuse others most loudly of unethical behavior are often the most unethical. BTW none of them got it. 

Dec 06, 2017 08:43 AM #32
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Cynthia Larsen

Independent Broker Serving Sonoma County, CA
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