I Can't Believe This Happened to Me!

A True Story

(I can't believe this guy is still in the business)

It All Started Out Good

It's a simple formula. Buyer calls with a particular property need, the real estate agent runs a search and finds properties that meet the buyers needs. Appointments are made and we're off to see the properties. Simple, Right?

Well, we found a property that had been reduced by $50,000 and fell right into the buyers price range This was on a Thursday, so I make a call and going back and forth, we have an appointment for Monday. 

I arrive on site and the listing agent meets me on site to discuss some of the particulars about the property before my clients arrive. He is an older man in his 80's, tells me he's been doing this since the 1950's and hands me a folder from his agency for me to hand my clients (Really?), which was a poor example of a property information binder to begin with.

Everyone arrives on site to see the property

My clients arrive on site and after introductions, we continue to discuss the property, we turned to him to confirm the listing price and low and behold the price was increased by $50,000. He even has the gall to say to me, "didn't you look at the price?" I showed my listing paper which was updated with the reduced price only 29 days ago and printed on Friday. The listing agent shows me his paper with the increased price and it was updated TODAY for an additional $50,000. 

Of course, shock was an understatement to my reaction. Now, I'm told that the owner  had made a whole bunch of improvements and he wanted to put the price back to where it was originally. All the listing agent could say was "I'm sorry, I guess I should have discussed this with you before you came here" Well DUH! My emotions ranged between Embarrassed to Pissed in record time. 

Needless to say, my clients are looking to move on to another property and by no means will they reconsider this one. Not even for free!

This is where Real Estate Agents get a bad rap

Public opinion has it that real estate agents are as trustworthy as used car salesmen! Wow that hurts, considering how much ethics training, continuing education, expensive fines and penalty's we face, today's real estate agent makes every effort to avoid bad press. Now, along comes an agent who blows all of this positive effort out of the water and acts like an old used car salesman who was only missing his cigar and wide rim fedora (at least when I met him)

Who's paying the price?

The Seller just lost an opportunity to move his property to the closing table and stop paying carrying costs, which are digging a hole in his bottom line and is stuck in limbo, with a property that remains on the market. Just as a side note, if he doesn't get rid of his agent, chances are it will be there a LONG TIME. Way to go "Old Timer".

The Buyer is feeling totally abused by this Bait and Switch tactic presented to him by the sellers agent. Here was a perfect property that suited the buyer to a tee and priced right that they will not even give a second look to. (before the switch).

With all that today's real estate agent has to do to maintain professional standards, there will always be one bad apple here and there, who makes up the rules as they go along. We can only hope that they somehow choose other professions or just retire and give the rest of us a break.

Choosing a real estate agent is not a task to be taken lightly. This seller made a big mistake that cost him carrying costs for the property and a chance to sell the property at a fair market price.  Select an agent who will be looking out for your interests and will represent you in the best possible way to get your property sold. 

Drop a comment below and give me your opinion. - Thanks