Thursday, June 6, 2013

Pearland Realtor cringes at, "Did you receive our offer? I just sent it!"

"And do you have a response yet?  Do ya? Do ya? Do ya? Huh?"


OK, agents, time to chill out a little bit.  The crazy market brings out the "crazy" in every buyer agent.  And, it's easy to understand.  You shop and shop with a buyer, a new listing hits the market, and BAM . . . . offers and offers start to pour in.  But only one buyer will be the lucky winner . . . and every buyer agent wants to make sure that lucky buyer is his/hers.

So the answer is to pester the listing agent?  It may be!  Although a good listing agent will diligently present ALL offers to the seller until one is completely signed up (but still continue to present any others).  Also, a good listing agent will change status in the MLS to "pending" the minute an offer is fully accepted in writing to slow the influx of additional offers, and to notify the non-winners.

But not every listing agent plays by those established, fiduciary rules.  Instead, they'll rush an offer to the seller for quick acceptance.  So a listing that goes on the market one day and is accepted and pended the same day . . . hmmm . . . did that represent the seller's best interests???  I mean, we all know that multiple offers are imminent and help the seller get top dollar . . . so if you push a seller to accept one too quickly, have you done your job correctly as a listing agent?  The answer is maybe, but probably not.

So buyer agents just have to get used to being in "bidding wars" on the best listings . . . it seems to be the foreseeable future for us. Which is going to make more work for all of us -- buyer agents AND listing agents.  But oh well, what a good problem!  The buyer market has turned to a sellers' market.  It is during the rise of a sellers' market that everyone -- including the buyers who act -- will make money.
So get ready for a wild ride in Houston and Pearland real estate.

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