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CA renter.
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June 26, 2014 at 9:33 PM #21156June 26, 2014 at 9:45 PM #775746
spdrun
ParticipantWrite her an email telling her to put together an offer with YOUR pre-qual and at YOUR price. She has an obligation to do so and transmit it to the selling broker.
It’s a shame that dual agency isn’t common in CA and you can’t (easily) just go off and see properties by calling the selling broker. Cutting the middle-chick out of the equation entirely would be ideal, right?
June 26, 2014 at 11:53 PM #775747HLS
ParticipantA seller can request whatever they want.
You can dig your heels in if you want and possibly not have your offer considered.They don’t care that you don’t see a point in qualifying with their lender because they do.
Your agent has no control over the seller wanting you to cross qualify. It’s not that unusual AND it’s not your agents fault.Closing cost credits is simply a result of the rate. I recently closed a buyer with $12,000+ credit.
Do you understand where/how this credit comes from ? It’s a higher monthly payment.No pre-qual/pre-approval letter is a guarantee of anything, no matter what it says.
Why do you think a lender is going to ‘harass’ you?
It’s a simple request.I don’t understand what you are upset about.
You are using an agent that “infuriated you” 2 years ago and want to drop them because the seller wants you to qualify with their lender ?If they have ‘introduced you’ to a property that you want to make an offer on and you make the offer through another agent, you could end up in a lawsuit because they want their commission.
If you don’t want to use her, just don’t have her show you any more houses.
Hopefully you didn’t sign an exclusive agreement.I’m not defending her in any way.
I’m a Realtor and loan broker who doesn’t like how many things in the industry are done. I’m not looking to represent you but will provide an opinion if you want one. HLSJune 27, 2014 at 12:21 AM #775748Participant[quote=spdrun]Write her an email telling her to put together an offer with YOUR pre-qual and at YOUR price. She has an obligation to do so and transmit it to the selling broker.
It’s a shame that dual agency isn’t common in CA and you can’t (easily) just go off and see properties by calling the selling broker. Cutting the middle-chick out of the equation entirely would be ideal, right?[/quote]
Dual agency IS available in CA. It just needs to be disclosed.
Anybody can go directly to the listing agent if they want to but most people are not qualified to represent themselves (Unfortunately some agents are not really qualified either)The seller pays the commission. Who does a dual agent really represent ?
Seller wants as much as possible.
Buyer wants to pay as little as possible.
How can one person represent both sides fairly ??Cutting the ‘middle’ person out could be a very costly mistake for many buyers and costs them nothing to have representation (UNLESS they can get a rebate of commission from the listing agent that they wouldn’t otherwise receive)
It is correct that agent has an obligation to transmit ALL offers, (even at 50% of the asking price) but the seller is under no obligation to respond. If the cross-qual letter isn’t provided, their offer may not be considered.
June 27, 2014 at 7:42 AM #775760joec
ParticipantI can see the Realtor being pushy since they already showed you 12 places…that costs real time and money for the worker…Maybe it’s in their cost and that’s probably just the work environment like any sales job, but not too surprising to see them get tired of the work and no return and possibly no return ever.
One reason why being a buyer’s agent for free sounds stupid.
Just wondering and maybe this will never work since there are more agents than listing agents, maybe agents can start charging people when they show properties so they can as least not lose real money.
I hate most realtors and think buyers should just do all the work themselves since they know best usually what they want, but that’s assuming a well informed buyer who is willing to spend insane (like me/us here) amounts of time doing all the work themselves.
Course, I do my own taxes and my own investments too so maybe I’m the ultimate fool…
The problem with most realtors is they are salesmen/women first and experts way way down…Most people who spend the time can probably get more knowledge than many (not all of course) realtors…
Just sounds bad to use the same person you were really upset with previously and you’re setting up yourself to be annoyed again.
June 27, 2014 at 11:18 AM #775767scaredyclassic
ParticipantMy realtor showed me well over 50 places. And never showed one iota of pushiness. But if he had I would’ve told him to shut it. Try saying shut up; see if that works.
June 27, 2014 at 12:13 PM #775769ParticipantA buyer should never feel(OR be made to feel) guilty when agent shows you property, whether it’s 1 or 51. You did not choose their job, they did.
Not all agents are Realtors. You can be represented by either.
I ALWAYS tell clients that virtually everything in real estate is negotiable. Although some things may be ‘standard’ there are blank lines and boxes to check on the purchase contract.
Most people don’t seem to grasp this.One thing that I detest is the ‘loan contingency’
and most agents cannot explain what it really means.
I ALWAYS suggest trying to negotiate your loan contingency be removed AT FUNDING and not before.
There is an option on the contract for this.
It’s not always possible but understand that you are potentially putting your entire deposit at risk
when you lift the contingency and you have no control (or understanding) of if your loan will actually fund.June 27, 2014 at 12:56 PM #775771ljinvestor
ParticipantI’ve made offers before where the seller wanted me to get pre-approval from their lender. Both times they were bank owned and in one case I was told I had to or they wouldn’t review (I truly don’t think they did as I didn’t receive a counter) and the other time the sellers agent was familiar with my mortgage broker so they didn’t require.
If you want the property bad enough and the price is right, then perhaps you play by the sellers rules. If your really worried about providing your info to a new mortgage broker then just ask your agent to try again with your Penfed pre-approval, credit scores, and verification of funds.
As far as your agent relationship, just be honest with her and remind her that she needs to back off a little.
I agree with HLS about keeping that security deposit safe and not waiving loan contingency until funded.
June 27, 2014 at 4:01 PM #775776Ricechex
ParticipantThanks Everyone. Yes, I feel guilty that she showed me the properties, that is the problem. I went back to her the second time, and I told her point blank, I did not want her to be pushy with me. She agreed. Unfortunately, I am not sure she knows another way to be.
I am not sure if I really want this house, and if I didn’t get it, I can live without it. Thus, it is very hard for her to keep pushing me to make a higher offer. Her sense of urgency is high, for some reason she thinks there are going to be multiple offers come out of nowhere on the property. I am not sure why she thinks this since the property has been on the market for over 124 days.
There was also another property that I displayed some interest in, and she claimed that it had fallen in and out of escrow 2X in 10 days. Doesn’t that sound a bit odd?
I would like to buy a house. I am NOT desperate to buy a house.
June 27, 2014 at 4:31 PM #775777ParticipantNever feel guilty for asking someone to do her job. It’s her job — she’s not showing the properties out of charity. Eventually, you’ll find one and earn her a nice, fat, commission. Twelve properties is nothing.
If you feel guilty, you can always recommend her to a few friends if she’s generally competent and write her a good review online.
June 28, 2014 at 10:25 AM #775793ParticipantJust an update. I searched Zillow and found that the property she kept pressuring me to make a higher offer on has been in Pre-Foreclosure since 31 May. I made the offer last week. I would have thought if I can find that it is in pre-foreclosure, she would have been able to as well. Instead, she sent me really high comps. I don’t feel as guilty anymore 🙂
June 28, 2014 at 10:34 AM #775794ParticipantMaybe she knew and was pushing you to make a higher offer because that was the minimum that could be accepted without resorting to short sale.
i.e., lower offers would have to wait for short-sale negotiations to commence or for the bank to take the home and list it as an REO.
June 28, 2014 at 11:14 AM #775796FlyerInHi
GuestI don’t like agents who keep information from their clients.
In a tight inventory market you’re better off doing your own research and contacting the listing agents of the homes you’re interested in. Drive by the houses first and look on the outside.
June 28, 2014 at 11:16 AM #775797ParticipantI am guessing she knew as she stated that she thought there would be multiple offers (maybe when people found out it was in default, there might be more offers?)When I asked her why after 124 days would all of these offers come, she said “sometimes it happens that way. You never know.” She also insisted the tiles were real, when clearly they were fake (not ceramic). I am pretty sure she knows the difference. She would have certainly helped her cause had she been honest and not withholding information.
June 28, 2014 at 11:52 AM #775801ParticipantShe’s either proven herself to be not so smart or slightly crooked. If so, why retain her or feel bad?
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