Switching mid pitch
August 19, 2011 6:27 PM Subscribe
New listing agent doesn't want to present our offer until his client has had the opportunity to go back to the bank and then maybe submit an offer next week. Our offer expires tomorrow night and our realtor has reminded him so.
Or agent submitted our offer this morning directly to the seller as per mls instructions. All was well and good. This is an inherited property divided among 6 siblings. The sibling that my realtor spoke with this morning, verbally telling them our offer and emailing it to them, said we would have an answer tonight or tomorrow morning. But then this sibling called our realtor this afternoon to say one of the siblings went and changed realtors today. Now our realtor had to submit the offer to the new realtor. Done. Our realtor called the new listing agent and the listing agent said they had someone interested and doesn't want to present our offer until his client has had the opportunity to go back to the bank and then maybe submit their offer next week.
WTF? Obviously our agent said that our offer expires tomorrow.
Is than even ethical of the listing agent? Is that common?
Or agent submitted our offer this morning directly to the seller as per mls instructions. All was well and good. This is an inherited property divided among 6 siblings. The sibling that my realtor spoke with this morning, verbally telling them our offer and emailing it to them, said we would have an answer tonight or tomorrow morning. But then this sibling called our realtor this afternoon to say one of the siblings went and changed realtors today. Now our realtor had to submit the offer to the new realtor. Done. Our realtor called the new listing agent and the listing agent said they had someone interested and doesn't want to present our offer until his client has had the opportunity to go back to the bank and then maybe submit their offer next week.
WTF? Obviously our agent said that our offer expires tomorrow.
Is than even ethical of the listing agent? Is that common?
Response by poster: It's not about seller ignoring deadline- but listing agent says they won't present until their client has had time to make an offer.
posted by MayNicholas at 6:47 PM on August 19, 2011
posted by MayNicholas at 6:47 PM on August 19, 2011
This is a problem for the seller. This listing agent could lose the sale for them. If they know that, and aren't doing anything about it, there probably isn't anything you can do...
If I encountered this, I would start looking for another property.
posted by tomswift at 6:59 PM on August 19, 2011
If I encountered this, I would start looking for another property.
posted by tomswift at 6:59 PM on August 19, 2011
That sounds fishy to me. I would think any agent would be legally obligated to present all offers to their client. It seems as if this agent knows this other buyer who will probably pay more and so they want to maximize their percentage.
I would either walk away, since dealing with an estate, 6 siblings, etc., could be a nightmare, or I would call the brokerage where this agent works and have a chat with a manager about the situation. Good luck.
posted by wwartorff at 7:00 PM on August 19, 2011
I would either walk away, since dealing with an estate, 6 siblings, etc., could be a nightmare, or I would call the brokerage where this agent works and have a chat with a manager about the situation. Good luck.
posted by wwartorff at 7:00 PM on August 19, 2011
Response by poster: It is just fishy. Fortunately at least one of the sellers has seen the offer since it was told verbally and then emailed. I know it is out of our hands but it just seems this new agent is shifty. BTW... ours is the only offer this house has gotten so far (3 months on market). Just seems like he is trying to keep all the comission.
posted by MayNicholas at 7:08 PM on August 19, 2011
posted by MayNicholas at 7:08 PM on August 19, 2011
Have your realtor contact the other realtor's broker in charge, who will most likely have a come to Jesus meeting with him.
posted by St. Alia of the Bunnies at 7:19 PM on August 19, 2011
posted by St. Alia of the Bunnies at 7:19 PM on August 19, 2011
Since at least 1995 the official Realtor® ethics have said:
posted by wnissen at 7:51 PM on August 19, 2011
Standard of Practice 1-6In my opinion, the foot-dragging Realtor®™ is a scum-sucking excuse for a human being, and you are well within your rights to go to his office and scream at him for this blatant ethics violation, not to . I mean, if you can't trust a Realtor®™©, whom can you trust?
REALTORS® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95)
posted by wnissen at 7:51 PM on August 19, 2011
I would call the new agent's office and speak to the manager.
posted by JohnnyGunn at 7:52 PM on August 19, 2011 [1 favorite]
posted by JohnnyGunn at 7:52 PM on August 19, 2011 [1 favorite]
Response by poster: Do the sellers over power their agent? If he doesn't present can they say they have seen the offer?
posted by MayNicholas at 7:53 PM on August 19, 2011
posted by MayNicholas at 7:53 PM on August 19, 2011
In many states, including FLA, Realtors are required by law to present all offers. Regardless of whether it is law or not, it is generally considered unethical for a seller's agent to not present all offers.
Make it clear to this broker you that you will be contacting the state and local Realtors association to report that your offer was not presented. Depending on where you are, just that threat might be enough.
posted by Flood at 7:57 PM on August 19, 2011
Make it clear to this broker you that you will be contacting the state and local Realtors association to report that your offer was not presented. Depending on where you are, just that threat might be enough.
posted by Flood at 7:57 PM on August 19, 2011
Response by poster: Is it better to raise high holy hell or withdraw formally at the expiration of the offer and let the seller sweat it out?
posted by MayNicholas at 7:57 PM on August 19, 2011
posted by MayNicholas at 7:57 PM on August 19, 2011
Response by poster: Our realtor did say she didn't believe this guy...
posted by MayNicholas at 7:58 PM on August 19, 2011
posted by MayNicholas at 7:58 PM on August 19, 2011
If it were me, i would call the manager tomorrow and explain that your offer expires tomorrow and has not been presented to the seller. When he asks you to extend your deadline, I would give him another 24 hours and then that's it. I t really is a function of how bad you want the house and at what price.
posted by JohnnyGunn at 8:00 PM on August 19, 2011
posted by JohnnyGunn at 8:00 PM on August 19, 2011
There is nothing sacred about this offer at this moment. Even if you want the house it is fine, from a negotiating standpoint, to let your offer expire. Let the buyer sweat their Realtor's poor performance (I would call him a "realtard," but that term is insulting to retarded people, the vast majority of whom are genuinely good and hard working.)
posted by wnissen at 8:06 PM on August 19, 2011
posted by wnissen at 8:06 PM on August 19, 2011
This may be a problem in a legalistic sense, but how is it a problem in any real sense? The sellers have received your offer and know when it expires, right? It doesn't really matter if their new agent doesn't present the offer to them, because they have already received it. If they aren't going to respond to the offer before the deadline, then they aren't going to respond and you can't force them too (presumably they want to wait until they receive whatever offer this new agent's client may bring and then potentially counter-offer to you).
posted by ssg at 8:11 PM on August 19, 2011
posted by ssg at 8:11 PM on August 19, 2011
Response by poster: That's true but for some dumb reason I actually feel badly that they might be dealing with a shady realtor. I would not want to be in the position of selling my parents home only to discover my agent was withholding for their own gain. I know we can't do anything.
posted by MayNicholas at 8:19 PM on August 19, 2011
posted by MayNicholas at 8:19 PM on August 19, 2011
In terms of feeling mad about the sellers, they will find out very quickly what is going on. However, there may be other sibling stuff going on that you don't know about. (Maybe new agent is sorority sister of a sibling you haven't met yet.)
posted by metahawk at 8:31 PM on August 19, 2011
posted by metahawk at 8:31 PM on August 19, 2011
I'm an agent in NY state and I had a problem with getting an agent to present the offer to her clients - my broker told me if she wouldn't do it I was allowed to do it myself. I finally worked it out with the other agent and she did get the offer to her clients.
Do the sellers know that your offer is still out there?
Maybe you can call the broker of this other agent - at least in NY state the listing is technically with the broker and not the individual agent. You could also make an ethics complaint to the board of realtors.
posted by Melsky at 2:09 AM on August 20, 2011
Do the sellers know that your offer is still out there?
Maybe you can call the broker of this other agent - at least in NY state the listing is technically with the broker and not the individual agent. You could also make an ethics complaint to the board of realtors.
posted by Melsky at 2:09 AM on August 20, 2011
If I recall correctly, while all Realtors are real estate agents, not all real estate agents are Realtors, and therefore do not give a da** about the Realtor Code of Ethics: 'Realtor' being the trademarked designation of a specific higher-level-of-standards professional organization.
However, whether real estate agent or Realtor, this sounds definately fishy, and if your agent IS a Realtor, you can complain to both the broker in charge at their office and the Realtors --- if they're just a real estate agent, I'd still make a complaint to the broker in charge.
Alternatively: are you POSITIVE this mess is caused by the agent? When we were trying to sell my parents' house, my oldest sister (the executor) basically sabotaged several prospective sales through a combination of agent changes, unreasonable demands and the occasional outright lie (she ended up costing us about $100K.....)
posted by easily confused at 3:42 AM on August 20, 2011
However, whether real estate agent or Realtor, this sounds definately fishy, and if your agent IS a Realtor, you can complain to both the broker in charge at their office and the Realtors --- if they're just a real estate agent, I'd still make a complaint to the broker in charge.
Alternatively: are you POSITIVE this mess is caused by the agent? When we were trying to sell my parents' house, my oldest sister (the executor) basically sabotaged several prospective sales through a combination of agent changes, unreasonable demands and the occasional outright lie (she ended up costing us about $100K.....)
posted by easily confused at 3:42 AM on August 20, 2011
Response by poster: That is a good point too. I am only going off the story my realtor told me. As I said neither she or her husband/ fellow realtor believe it. They think this new agent is lying but won't speculate why.
posted by MayNicholas at 4:46 AM on August 20, 2011
posted by MayNicholas at 4:46 AM on August 20, 2011
Response by poster: The agent did in the end present our offer but we couldn't come to terms.
posted by MayNicholas at 6:08 PM on August 20, 2011
posted by MayNicholas at 6:08 PM on August 20, 2011
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posted by Chaussette and the Pussy Cats at 6:33 PM on August 19, 2011