Act Ethically until it is no longer in your Clients best interest?

By
Real Estate Agent with Coldwell Banker F I Gray and Sons Residential, Inc.

Story:

The home was on the market for 100 days.  The selling agent was extremely communicative and grateful for a call on the listing.

The discussion was like two Fraternity brothers together again.  Or like 2 attorneys.  Do you know so and so.  O yeah.  We are on the same page, we are going to do a deal.

Then all of a sudden.  COLDNESS.   The selling agent is no longer a blood brother.  The selling agent is now aloof.

WHAT HAPPENED?
We don't know for sure as the story is still unfolding, but we are fairly certain that there must be another offer.

Story ends:

Discussion:   It is not an ethics issue.  The title to this blog is misleading.

The selling agent is there to work with a buyers agent in attempting to do a deal, as long as it is in the sellers best interest.

The sudden lack of communication must come from the selling agent attempting to do their best for the seller, and this new opportunity is perhaps being explored by the selling agent.

Of course, if this new opportunity is not fruitful, the selling agent knows they will be back to us, so, they are trying to do their best with the new buyer, while not losing the opportunity of the older buyer.  (assume price is the only issue).

SO what is a blog with out a solution.  A cry for help?

Not here.

Try this.  "Hello Selling Agent.  I bet you have another offer.  Would you be comfortable asking your seller for permission to disclose this offer?  Here is what I am thinking....you want to get the best price for your seller, what better way than to have 2 buyers compete...if your seller is willing to let you disclose, we will beat your other offer or not, and then you will know that you got the best deal for for your seller."


Thanks for reading this blog.

(I have purchase, partnered and sold over 570 homes.  When it comes to negotiations, I have seen a lot.  The thing about deals is that it is a lot like home runs.  If you hit a lot of home runs, you will have a lot of strike outs.  In my career, I have  shown a houses 100 times to sell it.  That means I failed to sell it 99 times.  Not a lot of people have failed more than I have.  Unfortunately, or fortunately, failure, alot of times is where you get your wisdom).

 

 

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Topic:
Real Estate Best Practices
Tags:
negotiating

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Rainer
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Anne Corbin
Long and Foster - Lake Anna - Spotsylvania, VA
Serving Lake Anna & Central Virginia

Usually when the communication stops, there is a problem. I've found silence to be uncomfortable and a bad indicator! Thanks for the post. It is a relief to know that others have the same experiences, even if the experiences aren't the good ones!

Nov 01, 2018 06:56 AM #1
Rainmaker
306,532
Mickey Hayward
Sunset Properties, Hayward Realty - Onley, VA
Farm - Land - Home Sales & Commercial Real Estate

Many of us who have been around the real estate business for a while have experienced this.  More than once, after presenting an offer to the listing agent and there has been good communication, then there's silence, I have gotten the call, or more likely an email, saying, "The seller accepted another offer."  It's kind of hard to swallow if the listing agent, or seller, has been sitting on your client's offer for a while and the listing agent wrote the accepted offer.  Of course, I guess this can be avoided by putting a deadline for response in the offer.  Thanks for the post.

Nov 01, 2018 07:27 AM #2
Rainmaker
1,846,560
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Randal - negotiation is about communication and know what you need.  It would be best to communicate.

Nov 29, 2018 08:26 AM #3
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Rainmaker
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Randal Jenkins

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