It’s super frustrating, but hang in there! I know it might seem whimsy, but I really do believe that it works out when it’s supposed to.
You do want your agent to be a little pushy to get you in there asap and to express urgency, but even if you are first and get your offer in does not guarantee it being the one that gets accepted. There are a lot of factors at play and I’d say a quite a few listing agents are taking advantage of the low inventory situation.
I personally think no home should EVER sell in less than a week. Even if they get a full price all cash offer on the 1st day they should still let people see it that weekend and let them submit their offers on Monday too. There is such a misconception that selling a home quick means you are good at your job, but it’s bullshit if you sell it for less than you could have if you gave it more time (like 7-10 more days?). I’m seeing a bunch of “coming soon” listings recently that equally piss me off. What is “coming soon”? Putting the listing on the MLS so everyone knows about it instead of just you and your friends and neighbors? Don’t even get me started on the ones that say “sold before processing”. What exactly is being processed? I’d hard for me to not assume it just means “sold to someone I know before you got a chance with me screwing over my seller since they were unfamiliar with the process” in my translation.
In my opinion a lot of it comes from being a “good” realtor being more of a popularity contest than the skill that I believe it should be. To be fair…I do think there are some really good realtors and it’s the few that give the good ones a bad name, but I honestly blame the seller in a lot of instances for allowing it to happen because they chose the person with the most signs in their neighborhood instead of meeting with a couple people and talking with them to find someone they can trust before they start working with them. If their realtor brings them an offer the first day for full price they should say, “Thanks! I’m really looking forward to seeing what kind of offers come in over the next week or two” and hold them to continuing to do their job until they know the offer they accept is the best one as far as price AND terms for everyone involved. Then everyone gets to see it and submit their offers too. I know there are some really solid realtors that will not double end a deal because they think it’s not right and I commend them for doing the right thing even though they would make more money if they represented both sides. Representing both sides of the deal should be very rare in my opinion because it’s the same thing as the plaintiff and defendant having the same attorney and we know that would not work.
Anyways…I mention some of the above to share with anyone that does not already understand, but I’m betting most piggs already understand the game and the process. If you dont…keep reading this blog and learning from others that do understand the game before you get into it and choose your representation carefully to assure they represent your needs rather than their own.
