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Kirk  Pedersen
Kirk Pedersen - BC Local News

Kirk joined Black Press in January of 2008 and is the web editor in the new media division.

Deceived by a well dressed realtor

One of the things many people suggested to us before looking for a home is to find a realtor to work with, because they will be able to add elements to our home search that we probably wouldn't have thought of.

So after seeing a nice apartment on the internet, we decided to call the realtor to ask to take a look at it.

The place was in our current neighbourhood, only about five minutes from where we currently live, considerably larger than our hovel at around 1,100 square feet, and had laminate flooring throughout.

We arrived early to the showing on a cool Wednesday morning to see a well-equipped Mercedes-Benz sedan sitting in the parking space in front of the building.

Figuring a realtor couldn't afford such a car, we continued to wait for about 20 more minutes before walking up to the building, where we were greeted by the realtor.

My first impression of him was that he'd make Niles Crane look working-class.

Extremely well-dressed with perfectly-coiffed hair and designer glasses, this guy looked ready to deal.

The building was exactly what we were looking for: concrete and steel construction, large suites, and amenities: a pool, hot tub, exercise room and it was all enclosed behind a gate.

The only problem was that it was a former leaky condo. The building had been completely re-done over the past two years and was in brand-new condition; however, the current owner (and all other owners in the building) were involved in long and (very) expensive litigation against the original developer.

The suite itself was on the fifth floor, but was listed as the fourth, because there are no apartments on the ground floor.

Some work was definitely needed, as while the leaky condo repairs were being finished, the tradesmen had done some damage in the kitchen, but the amount of work needed was minimal.

We walked through the place and were highly interested. We decided to put down an offer of $250,000. The place had an asking price of $257,800.

The place had been on the market for about two months, but only two weeks had passed since the last offer fell through, so the seller was eager to move.

Another couple, from Ontario, was going to go through the suite later that day, but we figured our offer was sufficient, and we were confident in the deal.

We get a call back later that day from the realtor saying that someone else, the couple from out-of-town, had made a considerably higher offer.

No problem, I thought, we made the first offer, and he had to look at that one first before he finds out about the new one.

Apparently not.

The upshot of it was, the realtor never sent in our offer, and pressured us on two separate occasions to increase our offer, which I refused to do.

The place ended up selling for $253,000.

We got a new realtor later that week to continue in our search.

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COMMENTS

I personally have found private sales to be more relaxed, honest and easier than dealing with a real estate agent.
Yes, you have to do a lot of paperwork and figure out a lot of the details on our own, but on the upside, you don't have to worry about an agent manipulating you to boost his/her commission, or ignoring you when a bigger fish comes along.


Report as Violation
I don't know how you were deceived. Your offer was lower than the other Buyers offer. You were given the opportunity to increase your offer and you did not.

Commission on $3000 is less than 100 bucks. Who would jeopardize their career for that small of an amount.


Report as Violation
Well, the couple who were looking at the unit had another realtor looking at it for them. The fact that my offer was never submitted is a bit fishy. I was a day ahead of the other people in submitting it.


Report as Violation
There are shady operators in all fields. Realtors are in a no-win situation. They could show 10 homes a day and not present an offer. If they sell your home in two days, you think they're overpaid; if they take two months to sell, they're considered no good. If it was easy work, we'd all be doing it.


Report as Violation
If an offer is made then it's unconscionable that it wasn't presented given there was currently no other offer on the table.

If they really were told a "considerably higher offer" was on the table they were lied to as $3,000 doesn't strike me as "considerably higher".

How a realtor can consider an offer of 97% of asking price as not worth presenting is beyond me. If they had lost in a multiple offer situation fair enough but not to be presented?

I'd consider pretty much anything within $10k of 'asking' worth presenting and don't blame these folks for dropping the realtor like a stone.


Report as Violation

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