10 Comments

1. 

   Jiji on January 19, 2015 at 1:06 pm

   I guess we need to wait until after the super bowl before we can call it.
   Seems strange to me, it’s like everyone is waiting for something LOL.

   Maybe it’s just me.

2. 

   Jiji on January 19, 2015 at 3:55 pm

   I just hope the market does not become stuck again.
   Buyers refuse to pay up,
   Sellers refuse to lower (or choose to delist)
   And you just get a few (have to) (have to) sell transactions.
   Looks like it may end up that way.

3. 

   Jim the Realtor on January 19, 2015 at 6:51 pm

   It’s pretty stuck right now.

   We just spent the last three days looking at every house for sale between $700,000 and $800,000 in Encinitas, Carlsbad, Oceanside, Vista, and San Marcos, including FSBOs, withdrawns, Zillow, etc. There was only one worth an offer.

   It had been on the market since last summer, so we offered 6.9% below list. The agent wouldn’t present it – said it was ‘super low’, and if I expected to sell the house I would need to re-submit a new offer within a couple of percent of list.

4. 

   Ljinvestor on January 19, 2015 at 7:52 pm

   Are some agents exempt from having to present an offer 🙂

5. 

   Jim the Realtor on January 19, 2015 at 9:39 pm

   The official stance is an agent doesn’t have to present an offer if he thinks it is ‘frivolous’.

   Def. “not having any serious purpose or value.”

   We were serious, and comps supported our offer. Buyer said later that he checked the comps again and thought our offer was generous. Haven’t heard back from agent.

   This is my life.

6. 

   FreedomCM on January 20, 2015 at 6:56 am

   What are the ethical implications of simply bypassing the listing agent and sending a letter to the present owner?

7. 

   elbarcosr on January 20, 2015 at 7:09 am

   Selling agent won’t bypass listing agent, but buyer can go direct anytime. People are free to deal with each other without the use of agents at anytime. Of course if you (seller or buyer) have entered into some sort of agreement with an agent, you can be compelled to honor that agreement or pay damages for your breach).

   I’ve never understood the upside of a listing agent not presenting offers. If they think they are lowball or frivolous or whatever, just convey that to the client with your opinion of what to do when you send it over. I actually think it is a breach of agency not to convey all offers, frivolous or not.

8. 

   Jim the Realtor on January 20, 2015 at 7:13 am

   The listing agent could file an ethics complaint, which means getting hauled in front of a panel of volunteer realtors who will find you guilty 100% of the time. A letter goes in the file, and fine extracted. Both add up over time, and eventually you could get kicked out of the club.

   Me? I just put my head down and keep moving. There are several cases every day where agents leave me shaking my head, but I accept and forget quickly. I could sell twice as many houses every year if it weren’t for general agent ineptitude, and it’s just part of the business.

9. 

   Jim the Realtor on January 20, 2015 at 7:43 am

   Agreed, and whether the listing agent likes the offer or not, it is still feedback on how the market feels about your offering – which is valuable data if your job is to navigate market conditions.

   But the overwhelming belief within the business is to put your price on a home, and wait until somebody pays it – and berate everyone else who dares to offer a few points less.

10. 

    Andre on January 20, 2015 at 3:18 pm

    I sure do miss 2008/2009.

    Those markets were efficient and not manufactured.
    One of these days we will revisit an efficient market.