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My real estate agent is a pain in the....

Old 02-22-05, 02:21 PM
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My real estate agent is a pain in the....

As some of you know I have been shopping for a house. My lease is not up until may 31st so I am not in any huge rush.. I found a house (with my agent) on Saturday that I like (like, not love) that lists for $119k.. so my thought is to offer less than the list price to see if they will take it (economics 101).. My agent thinks that 119k is market value and anything less might be "insulting" to the seller. I don't care about "insulting" the seller and obviously want to get less than market value. So I offered
Spoiler:
$113k
... She thinks I'm nuts and was very opposed to it. I practically had to talk her into drawing up a contract.... Any thoughts?
Old 02-22-05, 02:24 PM
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mine mentioned that if you offer too low you can insult the seller and they may not even negotiate. I took the chance. the agent didn't really care, she said it was up to me since it was my money.


your agent should do what you tell her to do. she gets part of the commission on the sale price so the higher price is better for her
Old 02-22-05, 02:24 PM
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Get a new agent. Simple as that. I tell people I think their offer is low, when I think it is, but I still write it up.

I generally say something like, "I will do whatever you want, but I have an obligation to tell you....."

New agent.
Old 02-22-05, 02:26 PM
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I say offer whatever you feel like, I dont buy into people's emotions with my money. If they can sell for $119k then it would already be sold. Now that being said your offer seems very fair and gives a good chance of negotiation. I would betcha unless they just put it on the market they will counter with $115k and you will just have saved your self $4k !

I say you are right on the money!
Old 02-22-05, 02:26 PM
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Originally Posted by kvrdave
Get a new agent. Simple as that. I tell people I think their offer is low, when I think it is, but I still write it up.

I generally say something like, "I will do whatever you want, but I have an obligation to tell you....."

New agent.

does it make a difference that i signed some paper about sticking with her?
Old 02-22-05, 02:27 PM
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what?!?

what'd you sign and why?
Old 02-22-05, 02:28 PM
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Originally Posted by j123vt_99
does it make a difference that i signed some paper about sticking with her?

Fax me what you signed, and I'll let you know.
Old 02-22-05, 02:30 PM
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Originally Posted by kvrdave
Fax me what you signed, and I'll let you know.

it was kinda like a non-compete... saying that if she showed me a house, i couldn't go to another agent to buy that house
Old 02-22-05, 02:31 PM
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Originally Posted by j123vt_99
it was kinda like a non-compete... saying that if she showed me a house, i couldn't go to another agent to buy that house
Then make her do your bidding on this house, and find another agent if it doesn't go through.
Old 02-22-05, 02:32 PM
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Well that makes sense I guess. If she wrote up the offer on this house, let it go through. If you don't end up with this house, I would say go find another agent.
Old 02-22-05, 02:32 PM
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and don't listen to dave, he doesn't know what he's talking about
Old 02-22-05, 02:32 PM
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Originally Posted by kvrdave
Then make her do your bidding on this house, and find another agent if it doesn't go through.

that's what i was thinking of
Old 02-22-05, 02:32 PM
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Originally Posted by j123vt_99
does it make a difference that i signed some paper about sticking with her?
Tell her to write up crazy offers, like $85K for that $119K house. She'll either refuse and will probably have broken her end of the contract or she'll think you're crazy and will want to get rid of you.

I find insanity works well in getting rid of realtors. They don't want to waste their time with you.
Old 02-22-05, 02:35 PM
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Originally Posted by X
I find insanity works well in getting rid of realtors. They don't want to waste their time with you.
This is very true. Here's my favorite....ask her if the zoning allows for you to have church services in the place because you just got ordained online.
Old 02-22-05, 02:50 PM
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*lol* She has to do whatever you ask.. and the sellers realtor have to present it to the seller, whether its $500 for a million dollar home.. They are your agents which means you (indirectly in your case) pay them to do whatever you want. You're the boss!
Old 02-22-05, 02:54 PM
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Originally Posted by kvrdave
This is very true. Here's my favorite....ask her if the zoning allows for you to have church services in the place because you just got ordained online.
If you don't stop making fun of my religion, I will have you excommunicated.
Old 02-22-05, 02:57 PM
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Originally Posted by ravan
*lol* She has to do whatever you ask..

I need to start calling some hot realtors!
Old 02-22-05, 02:57 PM
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I bought a house late last year, and the agreement I signed with my agent said that either party could break the contract with written notice, but if you saw a house with your original agent and bought it after breaking your contract, the original agent was still entitled to his or her cut, as defined in the contract. Re-read whatever it is you signed and try to figure out what you can and can't do. And based on what you've said, if you don't get this house that you're bidding on, you may want to switch to another agent. They should give you advice, but they shouldn't fight you on anything if you really want to do it.
Old 02-22-05, 02:59 PM
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I just sold my house for $479,000 .. I was planning on selling it for $475,000 so I left myself some wiggle room. If someone had offered me $470 we could have settled near half-way at $475. So I don't think your offer was un-reasonable at all - the worst that could happen is come back with a counter offer at a higher amount or refuse it all together.

Is there anything else we don't know about? Any properties you own that you need to sell first? Possible problems qualifying? Just seems like there's something that made the agent think the offering under asking price isn't a good idea.. since it usually is just fine.
Old 02-22-05, 03:10 PM
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If your lease isn't up until the end of May, why are you putting offers on houses you only "like"? Wait for one you love.
Old 02-22-05, 03:15 PM
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Originally Posted by MaxF
I bought a house late last year, and the agreement I signed with my agent said that either party could break the contract with written notice, but if you saw a house with your original agent and bought it after breaking your contract, the original agent was still entitled to his or her cut, as defined in the contract. Re-read whatever it is you signed and try to figure out what you can and can't do. And based on what you've said, if you don't get this house that you're bidding on, you may want to switch to another agent. They should give you advice, but they shouldn't fight you on anything if you really want to do it.
Bingo

I signed a contract with a realtor last year and after he sent me to 3 shitty properties, I dumped him and wound up buying my townhouse with BuyOwner.com. I had signed a piece of paper like that and that's bascially the jist of it. Basically, you can't go behind their back and cut a deal with a client of theirs. The Realtor is entitled to their cut.
Old 02-22-05, 03:22 PM
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Originally Posted by Numanoid
If your lease isn't up until the end of May, why are you putting offers on houses you only "like"? Wait for one you love.

no other catches... good credit, easy qualification... i don't want to wait too long.. i do like the house i'm making an offer on at my price.. at the original price, i like it a lot, but not as much
Old 02-22-05, 04:01 PM
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Around here at the present time, its a waste of everyone's time to offer less than the asking price (unless there are extenuating circumstances). We had two offers in the first day for our house - one at list with no other stipulations and the other below list slightly with the demand of a radon check. Which do you suppose we accepted?

The market is so fast and furious right now that its a seller's market. Its not uncommon for people to offer above list.

All that being said, the agent should write up your offer because its not that outlandish. Just don't ask for anything more than a home inspection.
Old 02-22-05, 04:47 PM
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Originally Posted by Venusian
and don't listen to dave, he doesn't know what he's talking about

Just caught that.
Old 02-22-05, 04:54 PM
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I hope this isn't too off-topic, but I'm currently negotiating to buy a new home and have a question about my realtor. First of all, he's the husband of one of my wife's friends. Second, we're selling two properties in this equation, so he's our realtor for three transactions. Do realtors ever give you a percentage break when you're giving them so much business? It's a sticky issue to bring up since he's basically a friend. Wouldn't want to generate any bad feelings...

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