Is it possible that b/c we went to this house on a day that is was an OPen house...w/ a different real estate lady who has been taking us around....
and we made an offer and were 'neck & neck' with another couples offer...
and got rejected...
that they were NOT with a real estate agent..therefore the listing agent would not have to share their % made on this particular house w/ OUR real estate agent?
Was it a matter of swaying the couple to choose the bid (the other bid was exactly the same as ours --d own to our % down, down to our credentials down to our offer)...b/c they weren't w/ othe real estate from outside the area?
I'm just wondering if this is the case b/c damn...I'm still SOOO depressed :(
MrsERod
Posted:
Member since
Re: You know that house we lost... read this!!
probably...the listing agent probably figured, why split the comm. when they've got a straight deal with the other couple... I know it's tough, but keep your chin up...everything happens for a reason..your house is out there...trust me, we were in the same situation, and then we found our HOME!!
LisaT
Posted:
Member since
Re: You know that house we lost... read this!!
how do you know the precise details of the other offer?
Its possible that it happened that way - given two EXACT offers, but there could be other explanantions - maybe they had better credit, or perhaps they met the sellers and they 'connected', maybe they could move more quickly / slowly depending on what the seller needs.
There are so many variables, don't make yourself crazy over it.
swags1016
Posted:
Member since
Re: You know that house we lost... read this!!
We were in the same situation and we got ours because we had been with our jobs longer, had safe jobs and I made it a point of talking to the owners while I was there and she could sense how much I loved the house!
sophie78
Posted:
Member since
Re: You know that house we lost... read this!!
The seller of the house we bought went with us even though they had another offer of $10,000 more and 20% down. Sometimes people choose the buyer for other reasons. In our case, it worked in our favor.
It could be that the other offer came from the same realtor that was selling the house. She would have received the entire commission. So rather than get half, she might have knocked a little off to make the sale.
DjPiLL
Posted:
Member since
Re: You know that house we lost... read this!!
Bringing your own real estate lady will come back to bite you in the butt if the seller gets a competitive offer from somebody where the seller's RE agent gets full commission.
The seller's RE agent will put major pressure on the sellers to pick that person.
Not much you can do about it. Thats one of the pitfalls of a buyer's agent.
anjerandunder
Posted:
Member since
Re: You know that house we lost... read this!!
that's how they work..why split the commission..unfortunately my mother was an agent who did right by the customers for years and she always got scr**** because of crooked agents..she had so much stress!!
littlewilson
Posted:
Member since
Re: You know that house we lost... read this!!
The seller's agent is not 'allowed' to do what you're saying as per their contract with the sellers (i.e. they are supposed to be getting the sellers the best deal), but that doesn't mean it doesn't happen. Still, in this case, as in most, you have no way of knowing. Perhaps your offer was not any better than the other one.
Gonnacatchapeacock
Posted:
Member since
Re: You know that house we lost... read this!!
Posted by DjPiLL
Bringing your own real estate lady will come back to bite you in the butt if the seller gets a competitive offer from somebody where the seller's RE agent gets full commission.
The seller's RE agent will put major pressure on the sellers to pick that person.
Not much you can do about it. Thats one of the pitfalls of a buyer's agent.
A family members works in a real estate office - and informed us that working w/ one agent - especially OUTside of their region - will definitely come back to bite you in the arse.
Like you're saying, why split it when you can have it all? Evidentally, we had the SAME EXACT bid. We were putting the same % down.My FH & I have very stable jobs and we make a great living together. They even ran a credit check and it was more than excellent.
We truly feel (although cannot swear to it b/c this information was not disclosed) that the other couple had an upper hand b/c 1) they just stopped by the open house by themselves and worked through the listing agent who was showing the house OR 2) they were shown the house through the actual listing agent and had the upper hand that way.
We counter offered and they did NOT accept. This was a matter of 8 hours later.
I just don't get it. This whole process is making me very sour.
HearzBellz
Posted:
Member since
Re: You know that house we lost... read this!!
Posted by MrsERod
probably...the listing agent probably figured, why split the comm. when they've got a straight deal with the other couple... I know it's tough, but keep your chin up...everything happens for a reason..your house is out there...trust me, we were in the same situation, and then we found our HOME!!
This has happened to us...even when we came in with a stronger offer. (more $$ down & a higher bid). Technically this is a grey area, but very unethical. If the agent gets enough complaints about this practice they can lose their license.
SeptemberBride03
Posted:
Member since
Re: You know that house we lost... read this!!
A similar thing happened to us last week but we won the bid. The other bidder (who my DH knows) thinks we put in the same bid but we actually put more contingencies on it which made our's more attractive. So while credit, offer amount and downpayment were the same...we also shortened the attorney review period, put on a no mortgage contingency, agreed to close in 45 days and put 5% in an ernest account. My DH ran into the guy the other day and he said something about why did we win if it was the same offer than after talking we realized that they didn't put on any contingencies...
In your case, if it was all the same, than I'm sorry b/c it does sound like a shady realtor!
Ronkonkomonga
Posted:
Member since
Re: You know that house we lost... read this!!
How did you find out the exact details of the other couples offer?
When we are bidding against someone - they tell us that they can't reveal what the other couple is doing because it will hurt the seller.
