Time for a new RE agent?

I was speaking to our RE agent the other day and I think she’s getting tired of us!

We’ve been looking at houses with her exclusively on and off since the end of January. The other day she told me about this house we went to see twice, great area and neighborhood but the house needs to be gutted! It’s been on the market since January and they’ve only had 1 offer which fell though. The price only went down $15K in all that time. so I told her I would only offer X amount and she said “oh you can’t do that, that is way too low, you can maybe offer X” (a higher # obviously). That ticked me off. Don’t tell me what I should offer, it’s not your money! and besides, she would be obligated to present that offer…. Not that I am making it though.

Yesterday I called and left her a v/m about another house I want more info on and she has not yet retuned my call. She’s been great with us, very sweet and down to earth, not pushy at all! but I think maybe she getting tired of showing us houses

Re: Time for a new RE agent?

If you are looking with her exclusively, you would think that she would want to keep you with her - after all she has a lot invested in the time she spent with you.

As someone on the sell side though - if you arent satisfied with her, I suggest that you call the listing agent on any property that you see that interests you. Sometimes the commission is less if the house is sold thru the listing agent, so you might be able to save yourself a % or two. I know that i would accept a lower offer if I knew it meant lower commission.

Re: Time for a new RE agent?

Re: Time for a new RE agent?

Honestly - she should never have told you that your bid was too low. Whenever anyone asks me what they should put in on a house I tell them that it is fully their decision and that they should bid whatever THEY are comfortable paying. It is FULLY your discretion as to how much you want to pay for a house.

As for her not calling you back - I doubt that she would stop calling you after she spent that much time showing you around - maybe she was just busy or something. It is completly normal to look at MANY houses before you find the right one for you!!!

I have decided to not work with only one buyer and that is only because in my gut I know that the buyers are truly not ready to purchase a home. Alot of time was wasted but I felt it was better to cut my losses earlier on (and unfortunately it wasn't early enough - we went out every single weekend for about 4 months and had numerous deals die before they got anywhere)

Good luck and I hope everything works out!!!

Message edited 6/16/2006 11:23:40 AM.

Re: Time for a new RE agent?

Posted by Diana1215

Honestly - she should never have told you that your bid was too low. Whenever anyone asks me what they should put in on a house I tell them that it is fully their decision and that they should bid whatever THEY are comfortable paying. It is FULLY your discretion as to how much you want to pay for a house.

As for her not calling you back - I doubt that she would stop calling you after she spent that much time showing you around - maybe she was just busy or something. It is completly normal to look at MANY houses before you find the right one for you!!!

I have decided to not work with only one buyer and that is only because in my gut I know that the buyers are truly not ready to purchase a home. Alot of time was wasted but I felt it was better to cut my losess earlier on (and unfortunately it wasn't early enough - we went out every single weekend for about 4 months and had numerous deals die before they got anywhere)

Good luck and I hope everything works out!!!

Re: Time for a new RE agent?

I appreciate the advice from realtors about the bids. If they though the price was too low they told me, I'llpresent it but I think it's too low. I think she was looking out for you and didn't want to see you get rejected. She is vested in you guys now since January. She also doesn't want to waste your time or her time putting in an offer that will get rejected. I think she gave you good advice.

It is your money and if you want to offer a low amt, I would. She will do it, but I think she was telling you not to waste your time with a low offer that wouldn't fly.

I would definitely see homes with as many brokers as you could. There are tons of homes on the market that will never appear on MLSLI or in the paper and some RE go to see open houses before any advertising about the house is made.

Don't put all your eggs in one basket.

Re: Time for a new RE agent?

Message edited 6/16/2006 11:28:33 AM.

Re: Time for a new RE agent?

Message edited 6/16/2006 11:30:41 AM.

Re: Time for a new RE agent?

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

Message edited 6/16/2006 11:33:01 AM.

Re: Time for a new RE agent?

Six months with one REA and no house yet? Personally, I'd move on. Get fresh eyes & ears working for you. We worked with 3 agents as well as various listing agents when we were "in between agents" - over a 16 month process.

I will agree that I always found their advice on bids to be helpful...but I was put off when they assumed to know whether or not our bid was "high enough" or not. The stigma of the industry always makes you question who to trust...in the end, you should always trust you and your gut.

Re: Time for a new RE agent?

Posted by Diana1215

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

Message edited 6/16/2006 11:37:27 AM.

Re: Time for a new RE agent?

I completetly agree. You need to feel comfortable with the amount you are paying on a house - because you don't want to kick yourself down the road thinking that you overpaid.

Being that the house was vacant and needed alot of work - your agent should have put in your bid. If you are still intersted in the house - tell her that this is the amount you want to bid - and that's that.

Re: Time for a new RE agent?

In my opinion, if the house has been on the market since January - 6 months - I would think that the owner would at least be willing to hear the offer. If they don't like it one of two things should happen:

1. They counter and you get an idea of their range.

2. They say no and you have the option to walk away or adjust the offer.

Either way, I think you should try. Ask the RE agent for comps to back up her opinion that it's too low.

Re: Time for a new RE agent?

Message edited 6/16/2006 11:42:34 AM.

Re: Time for a new RE agent?

Posted by SweetestOfPeas

Posted by Diana1215

I completetly agree. You need to feel comfortable with the amount you are paying on a house - because you don't want to kick yourself down the road thinking that you overpaid.

Being that the house was vacant and needed alot of work - your agent should have put in your bid. If you are still intersted in the house - tell her that this is the amount you want to bid - and that's that.

thanks... but we're definitely not pursuing this house. we really don't have the desire for a fixer. this house is a real mess!!!!!!

Re: Time for a new RE agent?

Posted by Diana1215

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

Re: Time for a new RE agent?

Posted by Meaghan729

Posted by Diana1215

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

"insulting" the owners? The market is changing, and some sellers think they can make the $$ they could have last year. Considering they probably paid waaayy less than what they are asking now, I wouldnt think of it as an insult!

Message edited 6/16/2006 12:04:46 PM.

Re: Time for a new RE agent?

Posted by Diana1215

Posted by Meaghan729

Posted by Diana1215

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

"insulting" the owners? The market is changing, and some sellers think they can make the $$ they could have last year. Considering they probably paid waaayy less than what they are asking now, I wouldnt think of it as an insult!

Yes - there are offers that are insulting. We have a friend who is looking for houses - and refuses to pay anything close to the asking price JUST on principle. For example - let's say the house is in MINT condition - and asking 450K - brand new to the market -- he will try to put a bid in at $325K. That in my eyes is quite insulting.

ETA: Those are the offers I am referring to.

Message edited 6/16/2006 12:18:56 PM.

Re: Time for a new RE agent?

Posted by Meaghan729

Posted by Diana1215

Posted by Meaghan729

Posted by Diana1215

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

"insulting" the owners? The market is changing, and some sellers think they can make the $$ they could have last year. Considering they probably paid waaayy less than what they are asking now, I wouldnt think of it as an insult!

Yes - there are offers that are insulting. We have a friend who is looking for houses - and refuses to pay anything close to the asking price JUST on principle. For example - let's say the house is in MINT condition - and asking 450K - brand new to the market -- he will try to put a bid in at $325K. That in my eyes is quite insulting.

ETA: Those are the offers I am referring to.

Why take it as an insult? simply say no thank you and refuse the offer.

FSIL had an offer of $350 on her house (asking was $389) and she told me how insulted she was. However she paid $260 for the house two years prior and didnt put more than $10K into it. Who should be insulted?

Re: Time for a new RE agent?

I think that if the other houses in her area were priced the same way hers was priced and someone came in much lower than her asking she has the right to be insulted. If her house was overpriced for her area than that's a different story.

You always put MORE value on the home that you are living in. Whether or not it is worth that - is another thing. That is why people have to run comps on the surrounding homes.

There are buyers out there who just like to play the game to see "IF" they could get the house for "X" amount.

Re: Time for a new RE agent?

[quote]it's a buzz word... "insulted"

here's an insult for ya... your house is butt ugly. did you take decorating lessons from Charles Manson? it has 1 crummy bathroom and the size of a barbie doll house! and you want $400K for it? are you smoking crack?



sorry... had to get that off my chest!

Message edited 6/16/2006 12:20:28 PM.

Re: Time for a new RE agent?

Posted by Meaghan729

Posted by Diana1215

Posted by Meaghan729

Posted by Diana1215

But it looks like the first offer they were going to put in is when the agent said that it was too low.

Maybe I am reading it wrong?

ETA - I think that there are the offers that are "insulting" to owners - being that they are wayyyyyy lower than asking. But I think that if it was not THAT low - then it can't hurt to open up the window and start the negotiations. From what I have seen so far - there are sellers that STICK to their price - and then there are sellers that are really willing to negotiate it down.

You never know until you try!

"insulting" the owners? The market is changing, and some sellers think they can make the $$ they could have last year. Considering they probably paid waaayy less than what they are asking now, I wouldnt think of it as an insult!

Yes - there are offers that are insulting. We have a friend who is looking for houses - and refuses to pay anything close to the asking price JUST on principle. For example - let's say the house is in MINT condition - and asking 450K - brand new to the market -- he will try to put a bid in at $325K. That in my eyes is quite insulting.

ETA: Those are the offers I am referring to.

Why take it as an insult? simply say no thank you and refuse the offer.

Re: Time for a new RE agent?

My DH is from the midwest - where most of the houses are HUGE and they all have gas heat and CAC (even older houses!) and they sit on enormous pieces of land.

it's unheard of to have less than 2 bathrooms an no garage - even in an apartment over there.

he says "all the houses here s u c k" he's so right! but this is where we live... sigh

Message edited 6/16/2006 12:24:50 PM.

Re: Time for a new RE agent?

Re: Time for a new RE agent?

I know. It really is so depressing. I was in North Carolina last weekend and my aunt and uncle have an amazing house on a beautiful court in Chapel Hill. If they sold their house today they could get $400K. THat is MUCH less than I bought my house for.

Makes me so angry.