Today I am reminded of how bad some agents are. I am working with a buyer that was interested in making an offer on a $750,000 short sale. The property had an offer on it from another buyer but nothing had been agreed upon by the bank and the buyer. When talking to the agent to schedule the showing she said that several other buyers were also interested in making an offer but we would have to wait a few days to see the property (no explanation why). I was to finally show the home today and found out that she had successfully negotiated the sale with the bank. Come to find out the seller owed about $800,000 on the property and my buyer would have paid that and the seller could have avoided a short sale. Unfortunately, the agent that had the home listed wanted both sides of the commission so she held it off the market.
In this case the agent cost the bank about $100,000 and the seller now has a short sale on his credit! This could have all been avoided if we didn’t have people like this in the industry. What a joke! This agent has been in real estate for 20+ years and she is struggling financially so she needed to “make a deal”.
When my buyer called her directly to file a complaint she had the guts to say “My house is near this house and it’s for sale, you should make an offer on my home”!
