Now, let me say this before you get to mad. I've done many pre-written price reductions, especially when it comes to short sales. But, where do the actions of the agent and having a pre-written price reduction cross over in to an ethics violation?
Today, I have to say I think one agent I have been trying to work with took the pre-written price reduction and posted it despite his clients' best interest. Why do I say this, especially when it really does benefit my buyer that is interested in this property?
You see, today I noticed on the MLS that the house (Business) has had a price reduction of almost $30,000. When I called the agent about it, he said that they had a pre-written price reduction on the property for today and another one in 21 days.
WHAT? Did you just tell me that? I'm thinking I should have my clients wait another 21 days now knowing it will lower another $30,000. But, didn't this agent do another ethics violation by even doing a price reduction when they know we have an offer written on a non short sale property that is pending the financials of the foster facility?
My clients have said they would go as long as the financials (that the agent has said, everyday, that he will send over when he gets back to the office... and then, everyday, it doesn't show up in my inbox) come back equal to what was said. If the clients tax forms match the verbal of what the business makes my clients were and are prepared to write a full price offer on the property.
We already have the offer written, pending getting the paperwork, and have even forwarded it to the other agent. Yet, we have never heard back from him or his client and then we see a price reduction? At what point does it become an ethics violation? I think the moment the offer wasn't presented to the client or was it the moment the agent didn't produce the taxes that he already had in hand?
UPDATE: Late last night we withdrew our offer pending the price reduction that the other agent told us was coming and receiving the paperwork from the seller.
Todd Clark - broker
Kastings & Associates
Todd Clark (Broker/Owner)
The Friendly Home Team
Realty Pro, Oregon LLC
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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