If you've been in the business long enough, you've developed radar for agents bringing offers from marginal buyers, or buyers they have a very slim hold on. I.e., they have "buyers" (air quotes) and they're trying to force round pegs into square holes just to hold on to people who probably can't buy, actually don't want to buy. I won't go into all the red flags that an experienced agent can key on based on what they're hearing or not hearing from a BA.

So, when an agent like this brings 3 or more offers on different properties with different buyers, all of which raise the red flags, but you, as the LA went ahead and presented an offer, go through strangely clumsy negotiations on which the BA is dragging his heels and making all kinds of excuses for the buyers, and you get an accepted contract which you strogly feel was forced on the buyers by the BA, and THEN, on the first or second day of inspections, the BA brings you some excuse for cancellation-- should you, if this BA comes at you again in weeks down the road, submit his offer?

While we're supposed to submit all offers, the COE also tells us that we're supposed to represent our client and his best interests above all else. Exposing your client to a known incompetent agent isn't a good thing. This gets especially difficult when the client is a bank who usually will bite on any offer. With a retail seller you could at least have a heart-to-heart; with an asset mgr, you're lucky if they read your emails.

With HUDs, I've explained to the AMs that they accept offers from buyers who are using financing other than FHA. Some of the 'repairs' on these properties will not pass an appraisal - there will be appraisal conditions - but, they continue accept anyway...because the AMs don't know the nuances of financing. I'm sure they want to show stats that say they got the property under contract quickly (a no-win for everyone). (AMs bite at an offer just like banks.)

There is at least one BA out there who I know who I would be highly suspect if he EVER brought me an offer on a property. Unfortunately, with HUDs, we never see the submitted offers so we can't 'advise' the AMs on which is best to select. This "highest net" thing needs to stop so commerce can move forward without obstacles.

If I saw an offer from this BA, I would certainly let my seller know he has a reputation for doing 'shady' deals. Your client always comes first.

I think, if you're discussing YOUR real estate life with a particular BA, I'd ask for additional documentation that the buyer(s) can afford to purchase the property. It is certainly within the Seller's right to request further documentation.

Here, most buyers of REO's have to be pre-qualified through the listing agents lender prior to making an offer, I'm sure to preclude the hassels you have experienced.

These buyers did come prequaled, both retail or REO. No ability to bat down an offer based on that. Offer looks good.

BUT, you sense that the buyers actually aren't ready to buy. Or one is, the other isn't. You just sense it from things the BA says or doesn't say. You get the feeling that the BA is pushing them and he's getting some push-back. Like they suddenly want more time for an inspection without a good reason. Or there's an extreme lag-time on the buyers' side in the negotiations. You can FEEL them backing off. You can feel that they're not communicating with their agent. You can FEEL the cold feet.

When a deal is agreed upon, there's more buyer lag-time to sign the final addendum, there's the agent avoiding your calls. Or he tells you they suddenly have email or fax trouble. You just feel it coming. But, the BA convinces them to move forward, probably telling them they can back out during inspection. And that's exactly what happens; many times even before the inspector inspects.

So, based on my experience with a particular agent, or a couple of agents who are pusing buyers into writing contracts just to hold on to them until their homebuying fears abate and they finally make the decision to buy something-- I don't want to answer their calls or work with them. I don't want to be the practice dummy for skittish buyers.

what you as the listing agent want (or don't want) is completely irrelevant. you have a fiduciary duty to your client the seller, per the listing agreement.....so live up to it. the client calls the shots.

Usually, the chance of the buyer losing a high earnest money amount due to non performance takes care of any dilly dallying, however, the buyers escape clauses can't be avoided.
Let's hope you don't have too many of these and dragging your feet is totally understandable, especially with repeats.

You raise an excellent point, and one worth possibly changing what I do.

By custom, the BA "holds" the EMD, or in most instances, the buyer (many of our deals are long distance), has sent only a copy of a check to the BA. The buyers, many times, are responsible for getting the EMD to title within a certain period of time. What I could do is require that I physically get the EMD check in hand with the offer. I could do that. This way with an accepted contract, I can send it to title myself. I know on cancellation the buyers would get their EMD back, but having it at title might make them think twice about cancelling willy-nilly.

Thanks for the idea!

Not with HUD-owned properties. And, besides, most REO banks' pre-qual letters are just as lame as the buyer's. Most don't even say they've been through the application process nor underwriting. It is the underwriter who gives the yea or nay.

My favorite was the agent who didn't tell me that the buyer had put 10 offers in on the same day. My seller was moving back to Armenia and upon acceptance began to make arrangements for the move since his belongings had to be shipped to a port city and then put on a ship to Armenia.

Buyer does the inspection and agent says no issues were found - house had just been renovated. But at 4pm on the inspection deadline I get a cancellation addendum on the fax. No phone call no nothing. I called the agent and he was rude as can be when I asked why they were cancelling. Well I guess I wasn't the first phone call he had received that day.

I rarely do listings, but if I ever saw his name again on an offer I can tell you I would definately tell the sellers what he had done last time because they need all the iformation in order to make a decision. Agents need to be careful how they deal with buyer requests since it has an impact on their future business. I for one would never do something like that simply because I wouldn't want my future buyer's offer to get rejected. Reputation is everything in this business.

I've never been able to get a buyer to put in an offer if they didn't want to. Are the holding a gun to their head?