By Wade Corbett
It never ceases to amaze me how REALTORS® can treat each other sometimes. I recently had an experience with a buyer’s agent who could not have been more rude or bullheaded. I never like to talk poorly about anyone as it’s not my nature and I don’t think it’s very professional, but in this case, it may be necessary for today’s lesson. There are loathsome people throughout all walks of life and it’s impossible to avoid all of them. Why though, do some real estate professionals think that being difficult to work with helps anyone? Our primary duty is to provide our client with quality service in a lawful manor. After all, we wouldn’t make it too far without our clients, would we?
Recently, I sold a property that had a cracked septic system. Knowing that replacing this system would be financially impossible for my clients, I opened my bag of saved favors to ensure they would be able to sell their vacant home. I was able to convince one of my best contractors to replace the septic tank for less than cost, (yes, she actually lost money replacing it), as a massive favor for me. With breakneck speed, we obtained the appropriate permits, and the job was done in just a few days. Even so, the buyer’s agent was not impressed, and without going into any detail, was very unprofessional during the entire ordeal. The other agent actually called my favorite contractor to fuss about the pace of the work being done. Meanwhile, this agent called me horrible names and insulted my real estate abilities to my contractor!
The property did end up closing after continued scrutiny from the buying party. My sellers, a married couple who live several hours away, knew nothing of the troubles mentioned or the ugliness of the buying side. All they knew was that I was going to do everything in my power to ensure that the property sold. I ended up calling in a lot of favors and I took a significant loss on my commission. However, my hard work paid off. Since the deal closed, the sellers have referred me additional business, given me marketing space on their website—at no cost—and called me many times to thank me for all my help!
All in all, the buyer’s agent was very difficult to work with and at some point impossible to communicate with. It was clear from early on that this agent was only interested in making a commission and not on her client’s well-being. So what’s the lesson here? We should all try to be friendly and courteous to one another. There’s no reason to ever be hurtful to a fellow REALTOR®!
Have you ever had a negative experience with the other party in a real estate transaction? If so, how did you handle it?
By TG Gallaudet
Wait…I’m totally lying. Is there anything more painful? It’s no mystery that short sales can be really tough because of all the variables involved:
* Unclear timelines from the bank.
* Undisclosed liens.
* Back HOA expenses the bank won’t pay.
* Non-straightforward buyer.
* Inexperienced listing agent.
* Cash contributions (increasingly more and more).
* Etc., Etc., Etc…
But the hardest side to represent as an agent is the buyer’s side of a short sale because the buyer’s agent has no control of ANYTHING, and has to hope for a solid listing agent who knows what they’re doing. Right?
I just ended a painful short sale transaction where I represented the buyer that lasted 7 months and went nowhere. Granted, it wasn’t the easy one-loan in equator kinda deal, but we had absolutely no worthwhile answer from the bank after 7 months, which is totally inexcusable in 2011 as far as I’m concerned. The main problem, in my opinion, is that the listing agent saw this sale as a small income producer and pawned the negotiation responsibilities over to his part time TC. The TC had little-to-no experience with short sales, or negotiating any deals, and therefore little experience in working with banks. Because of her inexperience, I think she had little confidence in dealing with the bank and their personnel and couldn’t push back or demand results when she was entitled to do so. After being a listing agent on several short sales, I’ve come to understand that the burden of success lies heavily on the listing agent and specifically how s/he communicates to both the buyers’ agent and buyer, how she sets expectations and what answers she deems acceptable from the bank. Continue reading »