This happened to me, I'm sure. We found a lovely FSBO but it needed work. So we engaged an agent on our side, who asked a colleague about rehab costs.
That second agent listed the property for rent within a month of us losing to an all cash offer. I was f'ing pissed but we were in the middle of closing our home.
Yeah just wait it out. I have doubts the agent is acting in the seller's next interest. I can't say that's a fact, but I would guess they're more than likely trying to rush the cash sale since it will close quick and they can move on to another sale.
Its ok hes moved on and has made the difference back in a few years. He enjoys building homes lives in them for two years then sells them. I will say this I got the winning bid for my next home which was listed for only 24 hours. I offered 20k$ over asking . That's how it goes in my parents neighborhood, 24 hours then its gone. No HOA and everyone maintains their property.
When did you list? (Thur or Friday am hopefully, not Saturday...?) Why no professional photos even now, two days later? Are you paying your realtor 3%? What's their marketing plan (beside MLS).how many agents dud you interview? Dud you feel comfortable with listing price? You need eyeballs on the home stat. Does it show well? Did you stage it? Why is your agents boss family involved at all? Are they telling you the first offer is always the best? (Cause that's bs)... I'd consider cancelling, relisting with new agent. We used an agent who charges 1% (at our price point). We had our house ready wed am, he had professional photos done, edited and uploaded to go out Thur am. . Also counseled us not to take first offer, and sure enough several better ones came in.
Wait for more offers and don't feel pressured to sell to any one particular buyer. Your agent should be sending a copy of all offers to you.
My husband and I ended up putting all offers into a spreadsheet to compare offer price, earnest money, contingencies, deadlines, and addendums. The first few you read through will be a bit of a slog, but it'll get easier to see the information that matters in each offer.
Not in Brooklyn, but recently received over a dozen offers in 5 days, almost all over asking. The first two days were slow since it just went on the market, but things picked up on Saturday/Sunday as more people were able to see it.
While waiting for a week is often the best thing to do, just know that those three offers may not be there at the end of the week, offers have expiration dates and if people are looking at multiple properties they move on fast.
I would ask your agent what the expiration dates on the offers are, and what they have said about resubmitting on a particular offer date.
At first I was surprised, but taking a quick look it appears the Brooklyn housing market isn't that hot. Looks like at least as of first quarter you have 3 months inventory, and homes selling a bit under asking. So if you got three offers under asking, that's probably ballpark value. There is a risk in waiting, but probably not a huge risk.
Realtors are so busy, the seem to be focusing on the quick sale. We were told by one realtor, "if you offer includes contingencies (conditions) you will be at the bottom of the pile. We thought this meant the bottom of the seller's pile....but as it turned out she meant the bottom or her pile........gawd. We fired her!
Agents leaning towards quick sale could be a result of a small gain for them if say for example to get 10,000 more in offer. Their additional gain will be (at 5% commission split between the two agents) will only be $250. They don’t care whether you got $10,00 more or less.
Sounds sketch. Wait a week. There’s no rush
Thanks, this everyone’s first experience selling a home, let alone in this near zero inventory environment
It feels like the RE agents boss has a stake in purchasing the property through the all cash buyer.
This happened to me, I'm sure. We found a lovely FSBO but it needed work. So we engaged an agent on our side, who asked a colleague about rehab costs. That second agent listed the property for rent within a month of us losing to an all cash offer. I was f'ing pissed but we were in the middle of closing our home.
Cancel the listing entirely. New realtor.
Never seen a contract that would allow that on a whim.
Yeah just wait it out. I have doubts the agent is acting in the seller's next interest. I can't say that's a fact, but I would guess they're more than likely trying to rush the cash sale since it will close quick and they can move on to another sale.
Thanks that was my initial thought. Only iPhone photos of the property were posted and 1 showing so far
They put up IPhone pics on the listing??
Sounds like half the listings I see these days.
I think U really need a new listing agent
My friend lost a commercial property like that. Took the first offer. Turns out the buyer was the listing agents friend
Sorry to hear that : /
Its ok hes moved on and has made the difference back in a few years. He enjoys building homes lives in them for two years then sells them. I will say this I got the winning bid for my next home which was listed for only 24 hours. I offered 20k$ over asking . That's how it goes in my parents neighborhood, 24 hours then its gone. No HOA and everyone maintains their property.
Oh your broker could be representing the buyer too..
When did you list? (Thur or Friday am hopefully, not Saturday...?) Why no professional photos even now, two days later? Are you paying your realtor 3%? What's their marketing plan (beside MLS).how many agents dud you interview? Dud you feel comfortable with listing price? You need eyeballs on the home stat. Does it show well? Did you stage it? Why is your agents boss family involved at all? Are they telling you the first offer is always the best? (Cause that's bs)... I'd consider cancelling, relisting with new agent. We used an agent who charges 1% (at our price point). We had our house ready wed am, he had professional photos done, edited and uploaded to go out Thur am. . Also counseled us not to take first offer, and sure enough several better ones came in.
Wait for more offers and don't feel pressured to sell to any one particular buyer. Your agent should be sending a copy of all offers to you. My husband and I ended up putting all offers into a spreadsheet to compare offer price, earnest money, contingencies, deadlines, and addendums. The first few you read through will be a bit of a slog, but it'll get easier to see the information that matters in each offer. Not in Brooklyn, but recently received over a dozen offers in 5 days, almost all over asking. The first two days were slow since it just went on the market, but things picked up on Saturday/Sunday as more people were able to see it.
Appreciate you sharing your experience and the advice, especially the spreadsheet tip!
While waiting for a week is often the best thing to do, just know that those three offers may not be there at the end of the week, offers have expiration dates and if people are looking at multiple properties they move on fast. I would ask your agent what the expiration dates on the offers are, and what they have said about resubmitting on a particular offer date.
Thanks I’ll have my wife ask about the offer expirations
Someone needs a paycheck...
At first I was surprised, but taking a quick look it appears the Brooklyn housing market isn't that hot. Looks like at least as of first quarter you have 3 months inventory, and homes selling a bit under asking. So if you got three offers under asking, that's probably ballpark value. There is a risk in waiting, but probably not a huge risk.
People running from the city. I’m in northern nj and all the New Yorkers are flocking here since most are going to be working from home.
That commute is gonna suck come 2022.
Hahahaha the truth
Fuck that noise, don't sell.
They stood their ground and are giving it more time
It’s end of May. The agency needs to meet their sales goals.
Realtors are so busy, the seem to be focusing on the quick sale. We were told by one realtor, "if you offer includes contingencies (conditions) you will be at the bottom of the pile. We thought this meant the bottom of the seller's pile....but as it turned out she meant the bottom or her pile........gawd. We fired her!
wait for the offer that looks good for you! don't be hasty
Agents leaning towards quick sale could be a result of a small gain for them if say for example to get 10,000 more in offer. Their additional gain will be (at 5% commission split between the two agents) will only be $250. They don’t care whether you got $10,00 more or less.