As a Realtor you never stop being surprised. Earlier this week, for one of my clients, I made an offer on a wonderful Sacramento area home. We have been looking for the perfect home during past several months. We finally found a house in their price range and met all of their needs. In today’s market where the numbers of sales are down and inventory is still high, I was shocked by how the listing agent chose to deal with our offer.
After submitting the offer, I got a call from the listing agent who informed me she was going to get a second offer but if my clients would like to make a full price offer she would accept my word and “take it to the church.” Who knows what the church has to do with it, I thought it went to the bank? We were not going to get into a bidding war with a non-existent second offer so we remained quiet and waited.
The deadline to for the sellers to respond came and went without any news. This morning I found a counter offer on my fax indicating they are in a multiple offer situation. Their counter is for more than the full asking price, with an amount back to cover my buyers closing costs. In addition, without any explanation or elaboration they added the sale is subject to the seller finding and closing on another home. In a multi-offer situation I can understand countering back at full price to give both potential buyers a chance to make their best offer but am I crazy thinking making it subject to finding and closing on a new house too much, especially without any information?
The point I want to make is not why the sellers made their counter offer but how it was handled by their agent and how it may impact the sale. In my opinion the sellers are not being represented well by their agent. When she tried the “strong arm” tactic, my clients were annoyed. When she let the “respond by” deadline pass without any communication they moved to “mad.” Coming back with a counter over asking price and subject to the seller’s whims and desires moved them emotionally to another home. They will make another counter offer but it will not be what they may have done had we been treated better.
In addition, based on my analysis of the subject house, I am not sure it will appraise for the asking price and am sure it will NOT appraise for $8,000 above that number. Second, this house has been on the market for 60 days, and the sellers want buyers to sit on their butts waiting for them to find and close on a new house before they are assured the sellers are moving forward…..I think not!
In every kind of market, to maximize service as well as price or cost, everything about a selling or buying a home must be done right. What surprises me is when the easy parts are not done right.