Last year, I presented a client (Seller), with a fair offer on their property. Their home was on the market for nearly a month without an offer. The offering price was acceptable, but the Buyer, through his Agent, insisted we respond to each, Reply to Inspection demand (counter), immediately, as opposed to handling all Inspection issues after the entire inspection processes were completed. Pest, Home Inspection, Water, the roof was obviously in need of replacement. After several terse calls from the Buyers Agent regarding these issues, I went to see the Seller to review and propose an acceptable compromise. The Seller was not opposed to the conditions of my compromise but was not willing to negotiate anything until all the inspections were completed and forwarded at one time. He was very willing to walk away from this Buyer.
Now this Seller and his wife, wonderful and honorable people are very contemplative, (thoughtful) folks. I thought, I was doing them a service, preparing a fair compromise to an issue forced upon us. What I learned through these seasoned folks was that they were not willing to do business with a pushy, thuggish, Buyer, as "he will never be done with his demands if we consider a premature negotiation". The Buyers Agent is an excellent and experienced Agent who was being run by her Buyer. I was being run, at least for a while, by him as well hoping to do the best for my client. In the course of my professional life I have been involved in serious, complex, and very expensive negotiations for many years and thought I had been around long enough to have most of the answers.
After that meeting with the Informed Seller s, I thanked them for the "Life Lesson", went home waited for the certain, Buyer insisted call, and suggested to the Buyers Agent we cancel the deal as the Sellers don't wish to play with her Buyer. The Agent did her best to plead the Buyers case but realized our firm position. The Buyer was finally controlled, which was in his best interest. Negotiations went forward, after all the inspections were completed, a fair compromise was worked out and the Buyer didn't give us another problem as he finally understood we were willing to walk away.
What have I learned from this experience? At 49 years of age, I still have a lot to learn from those who have been around longer than I have.
Scott J. Fonner