Comments on: Buying or selling a home: how are you making hiring decisions?

By: Kary L. Krismer

Kary L. Krismer — Wed, 16 Jul 2008 15:12:56 +0000

Maybe the offer would be more appealing at $.250000

By: craig

craig — Wed, 16 Jul 2008 15:07:16 +0000

Sorry for being a couple of comments late…

Looking at the statute, there does not appear to be any statutory obligation to write a patently absurd offer (i.e. an offer of $.25). However, either party may terminate the agency relationship with notice to the other party. RCW 18.86.070(1)(d). Without researching the issue, my hunch is that an agent could simply terminate the relationship rather than investing the time and energy into an offer of $.25.

By: Kary L. Krismer

Kary L. Krismer — Wed, 16 Jul 2008 14:02:14 +0000

I think you always have to research the seller prior to making an offer, so the degree of discount would be more for some than others. And the discount would be based on what you thought the property was worth, not what they were asking. Asking price would only be relevant perhaps if you had two properties you liked–the lower one might be willing to go lower than the higher one just due to starting point.

Unfortunately, with the distressed property law the ones that would get the lowest end of an offer might not get any offer at all.

By: Sniglet

Sniglet — Wed, 16 Jul 2008 13:24:58 +0000

Ardell made some good point earlier about how not all homes are priced equally (i.e. the “list” might be way over done on one home vs its actual value while being right on the money on another).

I definitely took this into account when writing my low-ball offers in 2000. I would vary the degree of discount I was asking for in the offer based on how over-priced I felt the property was to begin with. I expect this is what I will do again the next time I go shopping.

By: ARDELL

ARDELL — Wed, 16 Jul 2008 07:57:11 +0000

I’m sure Craig would be happy to write it

I’ve been licensed in 5 States. All require agents to present written offers to the seller. Some even require verbal offers to be presented to the seller. But I have yet to see a State with a law that requires an agent to write an offer.

I don’t know any agents who have been in this business for a long period of time who never refused to write an offer.

By: Leanne

Leanne — Wed, 16 Jul 2008 04:40:37 +0000

Ardell & Kary, I agree, no one is going to argue we are not doing our job if we refuse to write an offer for a quarter – but if we have a client, and that client wants us to write an offer that is not just out of bounds hilarious, I think we have a duty to write it or terminate the relationship; and I’m not quite sure if we actually can terminate the relationship at that point without actually writing the offer, and presenting it.

Maybe Craig can chime in here with his opinion. It’s an interesting concept.

By: Kary L. Krismer

Kary L. Krismer — Wed, 16 Jul 2008 04:12:53 +0000

I’m not finding anything. But it’s completely contrary to the concept of agent to not do what the client wants, assuming that thing is legal and ethical. You act on the client’s behalf.

By: Kary L. Krismer

Kary L. Krismer — Wed, 16 Jul 2008 03:47:09 +0000

Ardell wrote: “I always have a choice, Kary.”

Well yes, but sometimes the choice is do what your client wants or be sanctioned by someone (Dept. of Licensing, WAR, SKCAR, etc.)

I suspect I might have over-stated it a bit. You probably could terminate the client after showing the house. Someone will have to look to see if there is a rule, and what exactly it says. But I’m fairly certain you can’t just choose to ignore your client’s directions, or tell them that you won’t do it–without terminating the relationship.

By: ARDELL

ARDELL — Wed, 16 Jul 2008 02:45:22 +0000

Leanne,

I think we have to present all written offers to sellers. I don’t think there is any law that commands us to WRITE an offer. In fact I’m 99.9% sure there is no such law.

Are you telling me there’s a law that says if someone wants to make an offer of a quarter, you HAVE TO write it up? If you write it up…then YES, you have to present it. But I don’t know any law that forces you to write it.

By: ARDELL

ARDELL — Wed, 16 Jul 2008 02:41:30 +0000

“But if you showed a client a property, and they want to offer X, I don’t think the agent has a choice.”

I always have a choice, Kary.