"Keep us in the Loop" - Request from Buyers Agent (buyer's agent, listing) - Real Estate Professionals - City-Data Forum

LawoftheLand · 02-18-2010, 07:25 AM

Potential buyers for my listing have had a first and second showing and then submitted a long list of questions which the seller promptly answered. Three days later, the buyer's agent calls and asks if "I would be willing to keep her in the loop if things start happening on the house." I asked if this request meant that her buyers had changed into a "wait and see" approach, after previously being very excited about the house. Buyers agent said "no, it's just that one of the buyers is out of town for a few days." This could well be the truth, but I would have no way of knowing if it's not.

Under what circumstances, if any, do you agree to keep a buyers' agent in the loop on activity on your listing? Obviously, saying "yes" would allow a potential buyer to lurk in the background and may provide too much info on the amount of competitive activity, or lack thereof, happening on the listing.

I'd appreciate hearing how others handle this situation. Thanks!

MikeJaquish · 02-18-2010, 07:33 AM

It isn't a "Yes" or "No" question. It is usually a gambit to keep you off-balance while the agent and buyer merrily go along their way. Most often, the agent does not reply if you DO make contact.

I usually ignore the request, unless I think there is something in it for my client.

IMO, if the buyers want the house, they write an offer.

2bindenver · 02-18-2010, 07:56 AM

Sometimes the buyer needs a compelling reason to pull the trigger. Sometimes it's what they need, but not all that they want.

faabala · 02-18-2010, 08:16 AM

...sounds like they are waiting for a price drop.

TexasHorseLady · 02-18-2010, 08:45 AM

Only if they say, "We're in the process of writing an offer and it should be in within 24 hours - please let us know if another offer comes in in the meantime" might I consider it.

And then it would depend on what I know of the agent in question and whether or not this is a usual ploy. (Yes, word DOES get around!)

Silverfall · 02-18-2010, 08:45 AM

Quote:

Originally Posted by faabala

...sounds like they are waiting for a price drop.

That's what in the loop means here too. "We like it, but waiting until you drop the price...unless another offer comes in then we want to bid too."

bigfatturkey · 02-18-2010, 08:49 AM

i'm guilty of that. i went to see a house and i really do like but i felt it was way over priced. i sounded out the seller's agent regarding an offer i had in mind but she said it wasn't possible at all that the seller WILL NOT even consider that number (even though it sounded to me that the seller's agent also agreed with me that the asking price was unrealistic). so i asked her to "keep me in the loop" if the seller becomes more realistic in the near future and drops the price. i didn't realise i'm not supposed to do something like that....

TexasHorseLady · 02-18-2010, 09:02 AM

Well, technically, the seller's agent has to have the seller's permission to do that. So you can ask (it's not that you're not supposed to), but they may not wish, or be able, to say yes, for the reasons given.

LawoftheLand · 02-18-2010, 08:40 PM

Thanks everyone - you provided great insights to what's going on "behind the curtain" of real estate negotiations. I love this forum.

palmcoasting · 02-19-2010, 07:04 AM

Quote:

Originally Posted by bigfatturkey

i'm guilty of that. i went to see a house and i really do like but i felt it was way over priced. i sounded out the seller's agent regarding an offer i had in mind but she said it wasn't possible at all that the seller WILL NOT even consider that number (even though it sounded to me that the seller's agent also agreed with me that the asking price was unrealistic). so i asked her to "keep me in the loop" if the seller becomes more realistic in the near future and drops the price. i didn't realise i'm not supposed to do something like that....

I think you should get your own agent, write an offer up and get it presented. Let the seller make up their mind, not the agent.

There is no rule that you aren't supposed to ask for a heads up if the seller is dropping the price. It's not against the sellers favor if their agent calls you to alert you first....actually it's a help. It could produce an immediate offer. The sellers agent does not 'need permission' to alert you to a price drop...it's dropped, it's not disclosing any information that isn't public.

To the OP, I believe the agent was requesting you alert her/him if there is another offer coming in so they can impress on the buyers a sense of urgency...do it now or you're out of it kind of thing. Nothing wrong with that.