San Mateo-Foster City Real Estate News

Is  this you?  Your house has been on the market for three and one half weeks.  You've been a good member of the Clean Counter Club but it's getting harder and harder to do everyday.  Days interrupted.  Dinners interrupted.  Saturday open houses.  Sunday open houses.  Keep the house picked up.  Keep the toys off the floor.  Keep the kids clean.  Laundry done?  Forget it.   The newscasters keep saying the real estate market has slowed to a trickle.  You're worried you home won't sell.   And then....

Your Agent calls you one night and says,  "We have an offer coming in."   He calls again in the morning and says,  "We are getting a second offer."  You're very excited.  Two offers!  Then he tells you that he wants the offers faxed into his office so he can select the best one of the two, and then he'll come over and show it to you.  This is a RED FLAG Warning!  Stop.  Do Not Pass Go. Do not let your agent do this.  This is why.

A Buyer's Agent has a fiduciary duty to her client to present their offer to you in person. That way she can tell you about her clients, about what they offer is, and be there to negotiate the best deal possible for you and her client.  A Listing Agent who does not want to have the other agent present their offer to you could be trying to hide something.  It might be financial or it might be insecurity in showing you how poor they are in negotiating.  It makes no difference.  It's bad for you. And that agent might be in violation of the National Association of Realtors ethics rules.

In our area part of our offer consists of an Agency Agreement and the Contract.  Prior to presenting the contract we present our Agency Agreement that has been signed by our Buyers and me, their agent.  At the time I present an offer I sign this agreement, date it, and put the time I am presenting this offer to you, the seller.  I then ask you to sign, date, and place the time you are hearing my presentation.  Our contract also has a place for you to sign a rejection of my offer, should you do so. 

If the Listing Agent refuses to let me present my offer directly to you, I try to present to him.  I sign the Agency, date it and time it and expect to receive it back with the Seller's signature, date and time.  I need this back whether or not we prevail with the contract.  I can not tell you how many times I have had to call and call and call and beg to receive my Agency and Contract returned to me because they refused to let me present to their clients in person.  I am required to have these two documents for my files and to show my Buyer's that I have, indeed, presented their offer.                                                                                                                                                                                                                                                                

So, Dear Seller, do not allow your Listing Agent to prevent you from hearing face-to-face, the offer that the Buyer's Agent brings.  In fact, if the prospective buyers come along, meet them and listen to their story.  You might find that they are very much like you and just the people you would like to buy your home.  And even if they are not, you will know that you've done the right thing.  After all, we all want the same thing for you and that's to see a Sold sign in front of your home.