Hi folks
Am interested to hear how you can make certain that an offer has been genuinely communicated by the agent to the vendor. I know the agency agreement supposedly obliges the agent to present all offers, but if the vendor is not known to you, how do you know?I was interstate last week and put in offers on 3 properties; the responses from 2 of the agents made me doubtful that the agent bothered to contact the vendor.
You are correct that all offers should be submitted, but unfortunately some offers don’t get presented. Acouple of reasons why this could occur include:
1. You haven’t been dealing with the listinga agent. In most agencies he is the only one who speaks with the vendor and he would always prefer that his client’s offers get submitted becuas ehe gets a double commision.
2. If the agent knows you are an investor, he may prefer to sell the property to someone who will give him their house to sell – this means he gets a second commsion.
3. If the offer is “too low” the agent my not want to upst the vendor.
Michael Yardney
METROPOLE PROPERTIES
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