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CATHOLIC GUILT

By Ken Tracy

Real Estate Agent with Coldwell Banker Residential

November 16, 2008 06:20 AM

Despite a fair amount of Irish blood pumping through my veins, I wasn't raised as a Catholic.

Do I have to be Catholic to suffer from Catholic Guilt?

I have always felt "bad" for things, even when I haven't done anything wrong. I sometimes feel guilty when I am just doing my job.

I feel that way today.

I wrote up an offer for a home in Naperville this morning. The listing agent had told me the sellers were "extremely motivated" before I had even showed the home to the buyers. The home was vacant. Nice, but vacant.

The sellers were already offering a nice payout for me, and they added a $2000 bonus at closing.

It dripped of desperation...

My buyers liked the home. Why wouldn't they? Great yard. Four bedrooms. Hardwood floors. Great neighborhood.

But only for the right price...

So we made an offer. It was pretty low, about 15% below the asking price.

I figured, "Why not? The home is vacant. And the sellers are very motivated."

So when I received a call from the listing agent this afternoon, I was almost expecting a flat rejection. The listing agent spent a few minutes telling me how low the offer was...

The sellers made plenty of improvements, she said. District 203 schools, too. Blah, blah, blah.

So when she countered $20,000 below the asking price, I found myself feeling sorry for the sellers.

They are probably nice people. They are losing money on this home. Such is today's real estate market.

But I have a job to do. I am not representing the sellers.

My clients are the buyers.

And today, it's the buyers that hold the cards.

Ken

To find your next home, go to my Naperville real estate website anytime.

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Mick Michaud

Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX

Your Texas Lifestyle is Here!

Only 15% below asking price for an opening offer? 10% is fluff anyway. Not much room to negotiate.

Confession may be good for the soul, but guilt is no way to represent either party in the transaction. We all have hearts, but we also have clients.

Quite a dilemma for anyone to be caugth up in.

Nov 16, 2008 07:34 AM

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Mike, _, Dianne, and Ken. Thanks for reading.

I will get over the guilt. I do need a closing.

And I will represent my clients to the best of my ability.

But I do feel "bad" too often.

Thanks again,

Ken

Nov 16, 2008 07:44 AM

Mick Michaud

Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX

Your Texas Lifestyle is Here!

Ken,

I had just made a humorous post on religious and philosophical reasons why stuff happens and why we feel the way we do. Called Stuff Happens. May your stuff never get over your ankles.

:-)

Nov 16, 2008 07:54 AM

Larry Riggs

Century 21 Redwood - Frederick, MD

GRI, SRS Your Frederick County Specialist

Ken,

LOL, I went to Catholic school. The nuns back then were masters of guilt. Be that as it may, we still represent our clients. Good job serving yours.

Nov 16, 2008 11:33 AM

John Walters

Frank Rubi Real Estate - Slidell, LA

Licensed in Louisiana

Think of it this way. How do we know these homes won't keep dropping in value further?

Nov 16, 2008 11:49 AM

Anonymous

Jane

Ken,

Today, 'the buyers hold the cards'. The seller of the house is one of them, since they probably need to buy a house too.

keep working for you client and get the best price as possible.

And if you feel tooo guilty, give up the payout (lol and good luck in you business)

Nov 16, 2008 12:33 PM

Ellie McIntire

Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD

Luxury service in Central Maryland

Poor Ken- The sellers should be happy that they had an offer. Something to work with is better than NADA. Motivated means motivated right?

Nov 16, 2008 12:40 PM

Stephen D White, E-Pro, ABR Cape Cod Real Estate

SDW Realty of Cape Cod - Falmouth, MA

Guilt Smilt! Youre not even Catholic! 15% is a good starting offer in today's market Ken. So Ken did you get the house for your buyers? Did they have to up their offer?

Nov 16, 2008 12:41 PM

Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

Wow...stunning way that things transpired. I think that good humans just feel guilty when one person is getting the better of another and we're witnessing it. It's all disclosed, but still, to watch and even participate in it, even thought it's legal and you're actually doing your duty for your client, is hard to get through some times.

Nov 16, 2008 12:53 PM

Daniel Button

Chevy Chase, MD

Yeah, but it was the sellers who were in the best position a few years ago. The tides have turned, let the buyers have a chance now, they deserve it. You did good. I feel for you man.

Nov 16, 2008 10:40 PM

Richard Weisser

Richard Weisser Realty - Newnan, GA

Richard Weisser Retired Real Estate Professional

Ken...

The seller has options, and it's up to them to determine what they will accept for their property. If I were to get an offer 15% below list on one of my listings, I would jump for joy!

You stick to you guns, and fight for your client! No guilt in that!

Nov 16, 2008 11:12 PM

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Richard, Daniel, Larry, Stephen, Ellie, Jane, John, Larry, and Mike.

Thanks all for reading.

We have yet to counter their counter. We are adding to their misery.:)

I am feeling better today. Lot's of vacant homes. They need an offer.

Perhaps I am the good guy.

Thanks again,

Ken

Nov 17, 2008 12:58 AM

Cherimie Crane

Cherimie Crane & Associates - Beaufort, SC

Ken,

*whispering*...I know exactly how you feel!

Keep up the good work though!

Nov 17, 2008 03:37 AM

Harold "Hal" Place

A1 Connection Realty, Inc. - Sun City Center, FL

Hi Ken,

Obviously you know first hand, you don't have to be Catholic to feel guilt. However I see no reason for you to be feeling that way today. You are doing the job that your profession calls for. Representing the seller. Offer, counter offer, counter offer is the name of the game. I hope all parties make this one fly. Good luck. Let us know the outcome.

Nov 17, 2008 08:06 AM

Anonymous

Not Yet Licensed

So when she countered $20,000 below the asking price, I found myself feeling sorry for the sellers.

Hey Ken,

Never apologize for being kind-hearted. You're a good agent and a caring person.

You're only responsible for taking good care of your clients. This market correction is beyond your control.

Sincerely,

Bruce

Nov 17, 2008 08:35 AM

#18

Debbie Hutchins

Birmingham, AL

Guilt is guilt no matter the religion, but you have nothing to be guilty about. You were doing your job. Maybe compassion or empathy, but guilt no. Consider the fact that the Seller even though they did not get what they hoped for that maybe they are happy to move on and be releived of the debt.

Deb

Nov 17, 2008 09:48 AM

Anonymous

Jane

So how have you been fighting for your buyer today?

Nov 17, 2008 10:10 AM

#20

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Jane, Debbie, Bruce, Hal, and Cherimie.

Thanks for reading.

My buyers are doing fine. The listing agent called and told me about the comps.

Once again, blah blah. The more she talks, the more I know they are coming down more in price.

I just listen, let them say what they have to say, and relay the info to my buyers.

Seems like it works.

Thanks everyone again,

Ken

Nov 17, 2008 10:24 AM

Anonymous

Jane

I hope the seller's agent is not reading your blog...

Can you imagine if she does ? She knows exactly what's in your mind. Worse thing for negociation.

Get the house for your buyer, it's your job. 15% off is nothing in today's market.

Guilty? this is how realtors who sold houses a few years ago should feel. Now their buyers cannot pay!

Nov 18, 2008 07:37 AM

#22

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Jane. Thanks again for reading.

What is in my mind is not important.

My buyers position is what does matter. We have yet to move.

The seller is nervous.

Thanks again,

Ken

Nov 18, 2008 07:49 AM

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