Bad Buyer's Agent Turns Buyer Off
Posted By: btolle - 08/15/2000 04:16 PM
There are a some potential problems that I can see that are beyond your control no matter how hard you try to be ethical.
1. The listing agent happens to walk by as you are standing in the lobby telling your buyers goodbye. They happen to say "If they don't accept our offer go ahead and counter at $10,000 more". How is the listing agent going to handle this? He is legally obligated to tell the seller (his client) that he KNOWS the buyers will go $10,000 higher. The sellers counter at $10,000 higher. Do you tell the buyers that you know that the listing agent overheard your conversation?
2. The buyers make a offer of $150,000 on a house. They happen to be driving a Rolls Royce and the listing agent sees them get in their car. Obviously someone driving a Rolls can afford to spend more than $150K. How will the sight of the Rolls influence listing agents advice to his seller?
3. The buyer is trying to buy the house next to his so he can move his Mother into it but he wants to remain anonymous since his neighbor (who hates the buyer for whatever reason) will be firm on the asking the price if he knows who is buying it. The listing agent happened to see your buyer while he was out taking the listing and sees him emerge from your office immediately before you present the offer. He HAS to tell the seller and your buyer pays more than would have been necessary if the seller had not known.
4. Have you ever walked away from the copy machine and left the original in the machine? Abut 15 minutes you notice your mistake and go back to the copier. The approval letter from the lender saying that your buyer is fully qualified for a $200K mortgage is laying face up on the table next to the copier. Your buyer is making an offer for $150K. Did the listing agent see the letter? Will it influence his advice to the seller about what price to accept?
The list can go on, but you may be getting my drift by now.
These are some of the things that can happen that are beyond your control. No matter how honest and ethical you are you cannot prevent one or more of the above from happening.
There are also similar circumstances where the seller will get a less than fair deal. What if the listing agent leaves a letter on the copier from an out of town seller telling him to take the first $100K offer that comes along. You see it as you are making copies for a $110K offer. What are you going to do?
Ethics is not just about me and it is not as simple as it seems.
Thank you, Bill Tolle ---------------------------------------------------------------- ExclusiveBuyersAgents.com 100% Loyalty To Home Buyers 100% Of The Time! 1-800-304-7199 - (409) 384-9094 http://ExclusiveBuyersAgents.com mailto:BillTolle@ExclusiveBuyersAgents.com
