This is the second collection of clips I did for our Instagram Reels. Because they were done with a handheld camera, there is a little too much face here. It might be better to watch it from across the room!
P.S. Are you getting these types of insights from other agents?
If not, maybe we should talk about how else I can help you!
Jim, Last week I found a house I was interested in and the listing said offers would be reviewed on a certain date (it was about a week later). The location was remote, several hours drive out of town, so I planned to meet an agent there over the weekend. Late Friday night the agent called to tell he was informed by the sellers agent that they had an offer they liked and would not wait until the stated offer review date, and would not look at offers after the next morning. My only chance was to drive there early the next day , take a quick look and immediately write up and submit and offer that morning at a price that would be much higher than list. I said no thanks, as it would leave me no time to really evaluate the deal, and was annoyed to learn that the review date was meaningless What is your take?
There is no code among agents. It’s bad enough that they deprived you of a chance to buy the property, and deny their own seller of other offers to consider.
But they should also have respect for the other agents out here working their butt off trying to help buyers. It is demanding work with little satisfaction. To be telling the buyer-agents that they have until x date to submit an offer, and then change the game with no notice is wrong.
Auctions are going to take over the business some day, and put realtors out of business. We have no one to blame but ourselves because we live with such shoddy and corrupt practices. You hear complaints, but that’s as far as it goes. Nobody in the industry does anything about it.
I hope Compass develops and manages a brisk off-market opportunity. We have the framework in place, but nobody is pushing it as a real alternative. A strictly-managed marketplace that ends the shenanigans will be the only chance to save ourselves.
Thanks, I thought maybe I was wrong or naive to rely on the review date as stated in the listing. PS, I’m not in the San Diego area, or I would have you as my agent!
Sorry to hear another story like yours. It’s embarrassing.
I can’t think of any seminar or training by any real estate entity that teaches agents how to conduct a proper bidding war. None. Never. The best CAR could do was to issue a spreadsheet.
Today I saw an agent who had online bidding available, and listed the highest bid. He had to muck it up with a hefty buyer’s premium, and warnings that seller might take an offer any time and/or has a reserve of some unknown amount.
But hey, at least it’s a start.