Real estate bullshit

[joneo 556]

The house I made an offer on was sitting for a month. I make a bid about 10% less than asking price. The listing realtor is a focktard and I used a different realtor to show me the property and make my offer. Miraculously,  there's another bid. I ask my realtor if she can verify there actually is a real bid and was told "no". 99% guarantee this jerk is lying. Now I have no choice but to increase my bid (since I want it) and he gets more money. Total FOCKING scam. This is a small rural town and everyone knows he's a focktard. 

[Alias Detective 1,390]

42 minutes ago, joneo said:

The house I made an offer on was sitting for a month. I make a bid about 10% less than asking price. The listing realtor is a focktard and I used a different realtor to show me the property and make my offer. Miraculously,  there's another bid. I ask my realtor if she can verify there actually is a real bid and was told "no". 99% guarantee this jerk is lying. Now I have no choice but to increase my bid (since I want it) and he gets more money. Total FOCKING scam. This is a small rural town and everyone knows he's a focktard. 

Never heard of an auction on a listed house.   Bids are sealed.  I do not believe you.

[5-Points 3,408]

You said it's a small rural town. If nobody showed any interest in a month, odds are nobody in town wants to buy it. Wait him out. See if the "other offer" falls through. 

[TimHauck 2,633]

Depends how overpriced it was, but even for something that was listed for 30 days, an offer 10% less seems a bit low.

5% or so may be more reasonable, but I don’t see any reason to go full asking price if you think your offer is strong.  Or depending how badly you want it, just sticking with your current offer.

[Brad GLuckman 519]

He's just trying to get his client the most money possible. That's his job.

[Strike 5,272]

3 minutes ago, Brad GLuckman said:

He's just trying to get his client the most money possible. That's his job.

A real estate agent is supposed to take any offer on the table to his client.  It is unethical for a real estate agent to make his own decision about the worthiness of an offer. 

[joneo 556]

15 minutes ago, Brad GLuckman said:

He's just trying to get his client the most money possible. That's his job.

Ethics! He is a piece of excrement 

[joneo 556]

11 minutes ago, Strike said:

A real estate agent is supposed to take any offer on the table to his client.  It is unethical for a real estate agent to make his own decision about the worthiness of an offer. 

Exactly.  But since HE says there are two offers, it forces my hand. No way to prove it. 

HOWEVER.... if I get this property,  I do know the seller and plan on asking her if she received any other offers. If she says no, I'm going after him criminally and civilly.  

[Gladiators 1,964]

1 hour ago, joneo said:

Exactly.  But since HE says there are two offers, it forces my hand. No way to prove it. 

HOWEVER.... if I get this property,  I do know the seller and plan on asking her if she received any other offers. If she says no, I'm going after him criminally and anally.  

[JustinCharge 2,397]

There is a pornhub section for going after real estate agents sexually.  Maybe this is how it started.

[peenie 1,906]

Geez, I’ve got to buy a house and this market is INSANE! But my rent will be $1300 and it’s just ridiculous to pay that much for a small 1 bedroom apartment. 

[jerryskids 6,596]

I just went through something similar, from the seller’s side.  House went on market for an open house on a Saturday, buyers were told we would respond 5PM Monday.  Got one offer and it was $10K over asking.  Sounds great but for reasons I’ll omit (I think I’ve discussed it here already) I wasn’t thrilled and thought about countering with a higher number.  When I mentioned this to the agent (on the phone so I couldn’t see her), her voice sounded disappointed, and she said that she would do that if we wanted but we don’t have a counter and we are over asking.  We ended up accepting.  My sense was that she was perhaps bound in her fiduciary duty to not tell the other agent that we didn’t have other offers, but that they do speak in the background about how to close the deal.  Remember that time is money for these folks, and a small difference in selling price is mice nuts to their commission, so they are all about agreement and closing.

Similarly, an issue came up during inspection which looked like a potential deal-breaker; I was getting close to dying on that hill and my agent sensed it, then yesterday VOILA$#@ the buyers accepted everything with no counter.  I suspect our agent warned the other agent not to get too cute at this point.

An established agent is successful because of her connections and her reputation, including both the public knowledge and the real estate community knowledge.  If word got out that her clients were making counters such as my idea, that reflects poorly on her.  So that is another reason they wouldn’t like to do it.

If this guy in Joneo’s scenario is lying about counters, that eventually would impact the industry’s willingness to work with him.

[JustinCharge 2,397]

22 minutes ago, peenie said:

Geez, I’ve got to buy a house and this market is INSANE! But my rent will be $1300 and it’s just ridiculous to pay that much for a small 1 bedroom apartment. 

The trend in apartment living is having multiple roommates or subleasing to make it affordable.  More and more people are getting some kind of RV or sprinter van and living in that.  I see more sprinter vans around town converted into RVs all the time.

[TimmySmith 2,782]

Don't understand the original question. You made an offer. And the offer was rejected? At that point you can raise it. There doesn't have to be a 2nd offer for the seller to reject the first.

[joneo 556]

24 minutes ago, TimmySmith said:

Don't understand the original question. You made an offer. And the offer was rejected? At that point you can raise it. There doesn't have to be a 2nd offer for the seller to reject the first.

This is what happens.  Since there was a supposed 2nd offer, the realtor gets to say " tell your client to submit his best and final counter." I then have one chance to either stay with my offer or go higher. Doosh realtor doesn't have to provide proof . So no....it becomes a "bidding war" that I believe was manufactured by the scumbag. 

[TimmySmith 2,782]

48 minutes ago, joneo said:

This is what happens.  Since there was a supposed 2nd offer, the realtor gets to say " tell your client to submit his best and final counter." I then have one chance to either stay with my offer or go higher. Doosh realtor doesn't have to provide proof . So no....it becomes a "bidding war" that I believe was manufactured by the scumbag. 

Or go lower or rescind your offer altogether. Does sound shady by the realtor, but the offer process is generally a bit shady anyway. 

[Utilit99 4,099]

At this point I would just ask if your offer is being rejected or not. Put a time table on the offer.  Then you can either up it, or walk away if rejected. 

[joneo 556]

42 minutes ago, TimmySmith said:

Or go lower or rescind your offer altogether. Does sound shady by the realtor, but the offer process is generally a bit shady anyway. 

I hear ya. but I need this property.  

[BeenHereBefore 1,472]

 Maybe the agent knows the seller won't accept the offer so he comes up with a 2nd buyer to get the bid higher that the seller will accept. If that is the case it is shady.

[TimmySmith 2,782]

28 minutes ago, joneo said:

I hear ya. but I need this property.  

I hear ya. Sometimes you have to overpay to get what you want.

[Cdub100 3,851]

5 hours ago, Brad GLuckman said:

He's just trying to get his client the most money possible. That's his job.

Most realtors just want to sell the house getting an extra 10-20k for their client only adds a couple hundred to their take. They would be stupid to fake a bid and lose a potentt sale.

[BeenHereBefore 1,472]

8 minutes ago, Cdub100 said:

Most realtors just want to sell the house getting an extra 10-20k for their client only adds a couple hundred to their take. They would be stupid to fake a bid and lose a potentt sale.

Yep and this might be on the seller holding things up.

[TimHauck 2,633]

6 hours ago, Strike said:

A real estate agent is supposed to take any offer on the table to his client.  It is unethical for a real estate agent to make his own decision about the worthiness of an offer. 

I’d bet they probably did, in which case the below scenario is likely (as in the seller already told their agent they were going to reject it.).  Agree with cdub here, it wouldn’t make sense for the realtor to risk having OP walk away, then he makes nothing.  Of course also technically possible there actually was a second offer.

45 minutes ago, BeenHereBefore said:

 Maybe the agent knows the seller won't accept the offer so he comes up with a 2nd buyer to get the bid higher that the seller will accept. If that is the case it is shady.

 

[Brad GLuckman 519]

6 hours ago, Strike said:

A real estate agent is supposed to take any offer on the table to his client.  It is unethical for a real estate agent to make his own decision about the worthiness of an offer. 

Ok, if hes not taking the offer to the seller then I missed that part.

[BeenHereBefore 1,472]

Yea the seller's agent is pretty much the seller's b!tch and the seller has all the power. most times if there is a problem it's cause of the seller. most agents want to get the deal done as quick as they can and on to the next sale.

[5-Points 3,408]

1 hour ago, joneo said:

I hear ya. but I need this property.  

Then pay up. 

The market is crazy right now. If you "need" the property then stop focking around and offer asking price. 

[Old School 360]

Abut 8 years ago we were shopping for a specific neighborhood. There was a house being sold to settle a divorce. It needed some work but  we were the first to tour the property and first to make an offer. We set a timetable for the response.

We were told the husband demanded a certain amount of time- maybe 5 days- so he could accept the highest bid. 
I told them to either accept my offer, decline my offer, or make a counter offer. 
The owner insisted he wanted a bidding war.

I told both agents to tell the guy to go Fock himself- and add that I fully understood why his wife was divorcing his sorry ass.

[Alias Detective 1,390]

6 hours ago, joneo said:

This is what happens.  Since there was a supposed 2nd offer, the realtor gets to say " tell your client to submit his best and final counter." I then have one chance to either stay with my offer or go higher. Doosh realtor doesn't have to provide proof . So no....it becomes a "bidding war" that I believe was manufactured by the scumbag. 

Again, it’s not a public auction.  Be happy you are advised to make your best offer and live with it.  That may be higher or not.  Fock.  I don’t understand your issue.

[Alias Detective 1,390]

1 hour ago, Old School said:

Abut 8 years ago we were shopping for a specific neighborhood. There was a house being sold to settle a divorce. It needed some work but  we were the first to tour the property and first to make an offer. We set a timetable for the response.

We were told the husband demanded a certain amount of time- maybe 5 days- so he could accept the highest bid. 
I told them to either accept my offer, decline my offer, or make a counter offer. 
The owner insisted he wanted a bidding war.

I told both agents to tell the guy to go Fock himself- and add that I fully understood why his wife was divorcing his sorry ass.

You sound grouchy.  Why the urgency for this property?

[joneo 556]

1 hour ago, Alias Detective said:

Again, it’s not a public auction.  Be happy you are advised to make your best offer and live with it.  That may be higher or not.  Fock.  I don’t understand your issue.

You're right...it's not an auction.  But fockclown turned it into one. Get it now?

[Utilit99 4,099]

36 minutes ago, joneo said:

You're right...it's not an auction.  But fockclown turned it into one. Get it now?

This is correct.

[BeenHereBefore 1,472]

2 hours ago, Utilit99 said:

This is correct.

Probably what the Seller wanted but who knows, I'm sure there is scum agents here and there everywhere.

[TimHauck 2,633]

7 hours ago, joneo said:

You're right...it's not an auction.  But fockclown turned it into one. Get it now?

Well no, it’s not an auction because you don’t know what the supposed other offer is even for.

Maybe not so much in the current market, but in the past even when there was “another offer,” it could have still been a crappy offer.

Offer an amount that you wouldn’t be kicking yourself if you didn’t get the house.  It’s not that difficult.    There probably aren’t many sellers in this market that would take 10% less than asking after 30 days unless they knew the property was stupidly overpriced.

[TimmySmith 2,782]

10 hours ago, Old School said:

Abut 8 years ago we were shopping for a specific neighborhood. There was a house being sold to settle a divorce. It needed some work but  we were the first to tour the property and first to make an offer. We set a timetable for the response.

We were told the husband demanded a certain amount of time- maybe 5 days- so he could accept the highest bid. 
I told them to either accept my offer, decline my offer, or make a counter offer. 
The owner insisted he wanted a bidding war.

I told both agents to tell the guy to go Fock himself- and add that I fully understood why his wife was divorcing his sorry ass.

I don't understand the anger here. It's all business negotiation. You set your terms and live with them.  The best real estate negotiator I ever knew always gave a strong offer with a take it or leave it clause. Similar to what you did.  But no anger, nothing personal if you didn't take it. But don't play the field and come back to him or that offer would drop 10%. Of course he was all cash with immediate closing which always put him in the driver's seat. 

My wife and I bought a house 6 months ago and way overpaid. We had to. The market was on fire and if we wanted it, that was going to be the deal. After all was done, I think we could have gotten it for 10k less that our 25k over asking. So be it. We got it and moved on

 

[TimHauck 2,633]

10 hours ago, Old School said:

Abut 8 years ago we were shopping for a specific neighborhood. There was a house being sold to settle a divorce. It needed some work but  we were the first to tour the property and first to make an offer. We set a timetable for the response.

We were told the husband demanded a certain amount of time- maybe 5 days- so he could accept the highest bid. 
I told them to either accept my offer, decline my offer, or make a counter offer. 
The owner insisted he wanted a bidding war.

I told both agents to tell the guy to go Fock himself- and add that I fully understood why his wife was divorcing his sorry ass.

Just curious, how soon did you make the offer compared to when it was listed, how close was your offer to the asking price, and how much did it eventually sell for?

For example, if you offered less than asking on the first day it was on the market, it’s not unreasonable IMO for a seller to want to wait like 2 days or so (5 is a bit much though, and I don’t know what your timetable was) just to give some more people a chance to see it.  And depending on how well they/the agent know the market they probably knew what they could get for it.  If you were trying to be in that specific neighborhood, chances are other people were too.

[TimHauck 2,633]

13 minutes ago, TimmySmith said:

I don't understand the anger here. It's all business negotiation. You set your terms and live with them.  The best real estate negotiator I ever knew always gave a strong offer with a take it or leave it clause. Similar to what you did.  But no anger, nothing personal if you didn't take it. But don't play the field and come back to him or that offer would drop 10%. Of course he was all cash with immediate closing which always put him in the driver's seat. 

My wife and I bought a house 6 months ago and way overpaid. We had to. The market was on fire and if we wanted it, that was going to be the deal. After all was done, I think we could have gotten it for 10k less that our 25k over asking. So be it. We got it and moved on

 

What I’m hearing a bit of which could be an option for the OP, is people offering super high to get their offer accepted, but then trying to negotiate after the inspection if there are any issues.

[TimmySmith 2,782]

30 minutes ago, TimHauck said:

What I’m hearing a bit of which could be an option for the OP, is people offering super high to get their offer accepted, but then trying to negotiate after the inspection if there are any issues.

I am certain that happens. Or other broken promises. Both sides have tactics and then there is the bank, who really controls the whole show. If the deal doesn't work for them, there is no deal.

We bought as-is. Which appears to be the majority these days in our area because the market is 100% pro seller. 

[TimHauck 2,633]

5 minutes ago, TimmySmith said:

I am certain that happens. Or other broken promises. Both sides have tactics and then there is the bank, who really controls the whole show. If the deal doesn't work for them, there is no deal.

We bought as-is. Which appears to be the majority these days in our area because the market is 100% pro seller. 

Yup, I know some people aren’t even doing inspections which is crazy to me.

[titans&bucs&bearsohmy! 2,745]

We need to do a music draft again.

Anyone interested? I'll run it...

Submit ideas for a topic...

[joneo 556]

1 hour ago, TimHauck said:

Well no, it’s not an auction because you don’t know what the supposed other offer is even for.

Maybe not so much in the current market, but in the past even when there was “another offer,” it could have still been a crappy offer.

Offer an amount that you wouldn’t be kicking yourself if you didn’t get the house.  It’s not that difficult.    There probably aren’t many sellers in this market that would take 10% less than asking after 30 days unless they knew the property was stupidly overpriced.

ok....mostly agree...except a realtor should have given the seller my offer. I never received a refusal or counter offer. Even the counter offer could have been "sorry, we are firm". This didn't occur and that's my biatch....he is a POS.