GOOD AGENT BAD AGENT

With apologies to the Cop film genre Good Cop, Bad Cop, how about Good Agent, Bad Agent? Lord knows there are plenty of both and if you’re lucky throughout your buying and selling career you will only encounter the Good ones. Reality says otherwise. I have dealt with both, on varying degrees of competence and incompetence. On the good side a few years back I was helping clients find a home and we saw one that fit the bill in Port Perry. They were first time buyers and wanted to proceed cautiously which made absolute sense. After much discussion it was decided we would put in an offer. I asked them to include a letter for the seller telling her how much they loved her home and gardens and that they would pretty much keep it the same way if they were fortunate enough to end up owning the place. A large number of agents don’t like the personal letter to seller, but I have always maintained it adds a human touch to the process. Obviously, the selling agent agreed. The seller was touched by the letter and although the two competing offers were similar I think that tilted the deck in our favour. Throughout the whole process the listing agent was constantly in touch with me and keeping me up to date on all aspects. A real professional and I was glad I had a chance to work with him. I look forward to our next encounters. On the flip side I was helping another young couple look for their first home (I love working with first time buyers) and we found one in Ajax that fit the bill. Listed at $789K with a hold back date for offers. I suggested we wait until after the offer presentation date because I didn’t want them to get into a bidding war. Sure enough, the offer date came and went with no offers. So I contacted them and said we can move on this. I asked how much they wanted the place and they said very much so I suggested we not get cute and just offer close to the asking price to make things simple. So we did. Except the offer came back in a sign-back at $815K. I called listing agent and said what’s this? She replied that’s what they want. I pointed out they had zero offers on presentation date, the market was softening and we were offering a very good price. She was adamant they wanted 815 and wouldn’t take a dime less. So I was prepared to advise my guys to just drop it. There was no reasoning with these people. My buyers still wanted the place so I called agent back and said we could go up slightly. Still no move on seller’s behalf. So we put in an absolute final offer of somewhere in between the two numbers and said take it or leave it. Eventually they took it. But what a hassle. They were trying to bargain from a position of strength, which they didn’t have. These are the times the agent has to step up with their clients and explain the reality of the situation. Some do and sadly, some don’t. More on this later.

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