The market is ‘slowing’ and pretty soon we will all just be standing around wondering what happened. The underlying reason is that the new rules discourage agents from wanting to work with buyers.
I just had one where my buyers offered $175,000 over the list price. The listing agent countered and reduced the seller-paid commission to me by a half-percent. I got penalized for having my buyers offer $175,000 OVER the list price, and it put me at odds with my own client.
The other parts of how the listing agent handled the negotiations were so repulsive that it made me embarrassed to be a part of our so-called profession. Why would I want to go through that again?
It was already hard enough trying to represent buyers.
If you’re a buyer, especially a first-time buyer without an agent, can you trust the seller’s agent will relay an offer to the sellers?
I want to make offers at 20-30% above 2020 zestimates
If you’re a buyer, especially a first-time buyer without an agent, can you trust the seller’s agent will relay an offer to the sellers?
It’s a common belief that the listing agent must present all offers to the seller, but that’s not true.
A listing agent does not have to present frivolous offers.
How do they define frivolous? Beats me.
Gotta give credit where it’s due: Jim has excellent real estate wisdom.
Most agents won’t say it. I will—because it’s true.
There you go. 😎
Jim, my guy… it looks like NAR just stepped into the biggest FAFO moment of the modern real estate era.
Dang.
Happy Easter, bro. Keep doing what you do.
Thanks Paul!
You won’t believe who we had dinner with last night – Giorgio Angellini, and his wife Maggie!
They happened to be in town, and it’s been a while since we spent time on the movie:
https://youtu.be/dFfKwh8l4gQ?feature=shared
I told him that I was going to write a movie about the current debacle and the life and times of being a realtor post-covid.
He said he’ll produce it, as long as it’s salacious! I said no problem!
Yes!
You should do it! I will attend and bring my wife.
If you asked my take on post covid everything I’d be banned from polite society.
Have a great day!