Ask Phyllis!

Buyers At A Disadvantage

Dear Phyllis,

My daughter has been looking at La Crescenta homes for more than six months. Most weekends we spend open house hunting.  It seems there is so much competition for homes listed under $1,000,000.  She has made three unsuccessful offers.  The last seller agent said the offer wasn’t accepted because her agent hadn’t seen the home.  My daughter’s agent has a family and it’s hard for him to get out on the weekends to see all of these homes. My daughter always follows real estate protocol and gives the seller agent her agent’s business card. She just doesn’t want to waste his time if she doesn’t like the home. Do you feel her offer not being considered is fair?     PRC

Dear PRC,

You are correct that the competition for La Crescenta homes in this price range is fierce. I do find it doubtful that her offer wasn’t even considered. But I can understand the home seller taking other offers more seriously.

I sympathize that is difficult for your daughter’s Realtor® to view every home. The fact remains, that her agent hasn’t seen the home which is a drawback.  If your daughter’s offer were selected, it might be possible that after her Realtor® takes the time to view the home, they may not think it’s a good fit for her. When they haven’t viewed the home, it’s difficult for them to accurately advise your daughter as to how much she should offer.  After viewing the home, the agent may believe that she offered too much money.  That can lead to a cancelled escrow or tough negotiations during the inspection.

There are many components when multiple offers are being reviewed.  Often, a major factor is the time a buyer allows the seller to remain in the home after closing. When reviewing multiple offers, the seller and their agent don’t want to select the wrong buyer. A cancelled escrow can cause the seller to lose valuable momentum. 

The seller and their agent may consider that a Realtor® who has taken the time to view the home is more invested in the process.  Viewing homes on which we write offers is part of our job as real estate agents.  I wish your daughter success in her home search.

I wish you the best of luck.

  Phyllis Harb