Some Are Worth Their Weight in Gold…Others Not A Penny!
AgentHarvest received an email from one of their elite listing agents in the Seattle area recently. He shared a video of how a mistake by a Realtor cost their own client an extra 25K. It highlights how real estate contracts and contingencies can be confusing for the inexperienced Realtors.
Clients Agreed And Executed A Contract
The Seller and Buyer executed a sales contract for 925K and contingent upon the sale of their current home by a certain date. The contingency included a clause where if the Seller receives another offer, the Buyer has 2 days to remove the contingency. The only other option was to terminate the agreed sales contract.
A short time later another Buyer submitted an offer for 25K higher without any contingencies. The Seller’s agent presented the offer to the sellers. He also notified Buyer #1’s agent of being in receipt of an offer. The clock started ticking on removing the contingency. Since the seller likes the offer being 25K higher he mentioned that it would be nice if they increased their offer to the same amount.
Incompetent Realtor Advice
Buyer #1 chose to remove the contingency and move forward in purchasing the home. (Remember, removing the contingency was all that was required of this Buyer.) With the contingency removed, the inexperienced agent incorrectly advised the Buyer to increase the price to match the other offer.
Greater Peace of Mind
It’s likely the agent and/or the Buyer never realized the mistake. Unfortunately the potential of this happening to other clients is real, but AgentHarvest has the solution. As licensed Realtor’s themselves, they have vetted and selected highly experienced and knowledgeable agents for you to choose from. You can have greater peace of mind when interviewing and selecting the best match for you and your real estate needs.