Questions About Today’s Real Estate?
Home buyers left in the lurch over the way offers are handled
I have been looking at homes for over six months. Now that it appears that prices are increasing, I am feeling a bit panicked. A couple of weeks ago, I found a home online and contacted my real estate agent. As the home was being held open on the weekend, we waited to take a look. But the home sold before the open house weekend which doesn’t seem fair. I think I would have really been interested in this home and don’t understand why the agent wouldn’t wait for the scheduled open house.
I am sympathetic to your frustration but the home seller, the home owner determines the when, why, how offers are handled and not their agent. I work with a lot of home sellers and each have different priorities. There is no “fair”; it is their home and they control the offer scenario. I have seen homes listed in the multiple listing service (MLS) stating that offers would be reviewed in 10 days – but they sold prior to the 10- day marketing period.
We are in a real estate market extremely favorable to home sellers. Cash buyers and buyers waiving their appraisal contingency are common. Each home seller has different needs and if the owner feels they have received an excellent offer, they are under no obligation to sit through a weekend of open houses. I suggest next time you think a home is “your home” that you and your Realtor® take a look at it as quickly as possible, your agent should contact the seller’s real estate agent, make an aggressive offer and try to wrap it up.