Less Impressed with Highest & Best!

By
Real Estate Agent with Red Rock Real Estate (435) 632-9374 UT DRE# 6541633-SA00

Less Impressed with Highest & Best!

 

Part of being an effective listing agent is to aggressively market properties, encouraging feet through the door to get them sold. Discussing details of any and all offers that may come in, is also a standard practice.

 

A particular home hit on all marks for several buyers, resulting in a multi-offer situation. Agent and sellers started reviewing all contracts. Agent gets a call from a buyer agent, asking why their offer was not accepted.

 

She  began to explain and suddenly the BA starts yelling, saying she is stupid, inept and that if she was smart, she would convince her clients to accept his buyers cash offer, which was well over list price plus a quick closing!

 

The sellers heard the conversation, then asked which real estate purchase contract did that agent represent. She showed them and indeed, it was the highest and best offer. They tore it in half, throwing it into the garbage.

 

That agent's ego got in the way by using strong arm tactics and cost his buyer clients the house. In this industry, it is often said that agents must fight for their clients but some take it too far and this is the result.

 

Seller's can be less impressed with highest & best!

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I, Wanda Kubat-Nerdin at Red Rock Real Estate Utah am responsible for my opinions expressed in this blog. Information herein is deemed to be reliable but not guaranteed and may change due to market conditions. Please do not take my pictures or artwork and use them as your own, they are my property and copyrighted.

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Wanda Kubat-Nerdin is a southern Utah REALTOR® assisting buyers and sellers in in the St. George area, Dammeron Valley, Diamond Valley, Veyo, Central, Hurricane, Ivins, La Verkin, Leeds, Santa Clara, and Washington real estate markets.
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Red Rock Real Estate
90 E 100 S, St. George, UT 84770

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Comments (30)

Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Happy Wednesday, Dorie Dillard Austin TX! This situation was brought up in a real estate standards seminar and only one of the many that was mentioned. More of that type of behavior to come, unfortunately!

Nov 30, 2022 01:39 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

They tend to get in their own way, ruining the clients chances of securing a much desired outcome, Rocky Dickerson. It really is too bad!

Nov 30, 2022 01:41 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

It all comes down to the clients choice, whether buyer or seller. Of course, we can help guide them but I will not push someone into making a decision, Sheri Sperry - MCNE®!

Nov 30, 2022 01:58 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Common courtesy and respect go a long way in life, Hannah Williams. Some get it and others...well, you know...!

Nov 30, 2022 01:59 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

That's a story that hits the heart of all agents that try to do the right thing and treat their counterparts respectfully

Nov 30, 2022 04:52 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

If only every agent realized the many benefits of doing so, Ed Silva. Thankfully, the majority do just that!

Nov 30, 2022 06:12 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Had he called with a friendly, gentle approach, you and your sellers might have been impressed. Such a shame for his buyers.

Nov 30, 2022 08:04 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am glad that the sellers did that.  I have witnessed many times where a bad agent cost their clients in this same manner.

Dec 01, 2022 04:53 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Wonder if the buyers will ever know the results of his actions, Marte Cliff. He ruined any chances for them to secure that property!

Dec 01, 2022 05:29 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Being professional matters in this industry, Brian England, at least for most agents. Then, there are those who seem to think that yelling the loudest gets the best results...NOT!!!

Dec 01, 2022 06:28 AM
Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

There are some less than professional agents out there that have used back handed methods that back fired on them and their clients.    Let's just hope they learn from their mistakes.....

Dec 01, 2022 10:10 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Wanda:

Highest offer is pretty easy to identify but BEST is more complicated, and it's not always the highest. Strong arm techniques including rudeness are less likely to meet with success and accomplish nothing except to show a lack of professionalism.

Jeff

Dec 01, 2022 01:51 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

It has happened to me as well in the past, Anna Banana Kruchten Phoenix Broker. I dare anyone to try that on me right now...not going to happen!

Dec 01, 2022 06:40 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

That highest and best offer would have most likely been accepted had the agent been courteous and professional, Jeff Dowler, CRS. I agree with your entire comment BTW!

Dec 01, 2022 06:42 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Wanda - using the hard negotiation techniques can cause you to lose.

Dec 02, 2022 04:25 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

This case proves it, Grant Schneider. The agent's buyers were oh-so close to potentially getting an acceptance on a very good offer and emotions got the best of him!

Dec 02, 2022 06:39 AM
Adam Feinberg
Elegran - Manhattan, NY
NYC Condo, Co-op, and Townhouse Advisor

The situation you described is universal and a great example of why an agent's behavior matters. Additionally in my market, where most of the inventory are co-op's a true highest and best offer might not result in selecting the highest offer on the basis that the buyers financials and sometimes other factors might not be the best fit. For example, if the building allows buyers of a pied a terre, and the highest offer comes from a buyer planning on using the apartment that way, the seller might be close with the board- and while pied a terre purchases are permitted- the board would prefer a buyer that will be using the apartment as a primary residence. I have won clients bidding wars on the basis that our offer wasn't the highest, but my buyers profile overall came across as the strongest for board approval. I have even won bidding wars with an offer that wasn't as high as the best bid, but this was for an income restricted co-op and I had considerable experience working with these property types while the other brokers that submitted offers didn't (and these boards can be very finnicky to get buyers approved). Right now, I have clients approved by a co-op board not only because they were the highest and best, but the building used to have a doctor that lived in the building, who had since left- and the board members were over the moon to meet my clients - the wife is a pediatrician and the husband was also a doctor but left the profession (but still has substantial medical experience/knowledge).  

Dec 06, 2022 08:04 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Condo Boards can be very picky when it comes to potential buyers coming in. Also, some 55+ communities have very stringent standards. Professionalism matters and you and I both know that, Adam Feinberg! Thank you for stopping by.

Dec 06, 2022 08:33 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland

I have heard this story before.  I am glad this market is changing.  Much less stressful than reviewing 15 offers on day of listings.  Sellers were overwhelmed.  Spreadsheets came in handy for organizing offers.  Really glad it is changing. 

Dec 09, 2022 05:50 AM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

This last market required patience and tenacity, especially if a buyer agent, Stella Barbour. Sellers were able to list their house and get immediate attention, many buyers missed out on a much desired home because they were outbid.

No matter the market, agents need to be professional, anything less is an injustice to their clients!

Dec 09, 2022 06:21 AM