Checking Agent's Accuracy

**townhomer** · 11-25-2009, 09:19 AM

Hi,

Since I am new in real estate world, I need your help on my curiosity.

So this is the situation.

About 2 months ago, we found a property. We loved it so much, and we decided to make an offer that is 6% lower from the listing price. After my agent talked to the listing agent, he said that we might need to go full price or even beyond since a lot of nice offers were coming in.

Then, I decided to offer a little bit higher from the selling price. After that, my agent told me that I was outbid by a better offer. I was so disappointed that our offer could not get through. My agent also informed I am the number 2 highest bidder.

After about a month, I can see the final closing price of the house. Apparently, the house was sold with the exact selling price. I was confused why my agent said I was outbid, and a number 2 highest bidder. It makes me questioning his integrity.

However, we already got another property that is better. We love it better as well.... I know it was over. But, I just want to double check my agent's accuracy.

How to smartly check back on my agent's integrity? Is it okay to contact the listing agent directly to ask about the detail? It would be very disappointing if my agent who just got a huge commission on my recent purchase lied to me about the offer in the past.

Thanks.

**markbrian** · 11-26-2009, 08:15 AM

The amount the home sold for may not reflect the amount that the seller actually netted.

Or maybe the difference was the closing date, or the type of financing such as cash versus an offer contingent on appraisal, financing, or other contingencies.

There is much more to an offer besides the purchase amount.

As far as questioning your agent's integrity, why would they want to do anything regarding the first offer that would have meant they did not make a sale, therefore they made no money?

If a person contacted me on a listing that I had sold, I would tell them in as nice a manner as possible that the sale amount was public record but any details of the sale contract were private information between the new owner and the previous owner.

**REbuyersgroup** · 11-26-2009, 11:24 AM

It is unfortunate that you feel there may have been something inappropriate happening, but as the previous poster indicated, your agent would want to do everything possible in order to get paid.

The seller is not obligated to accept any offer, and even if you agreed to pay over list price, the other buyer could have been a cash buyer with a quick close.

I'm glad you found a great house and in the end it all worked out, but I don't think the agent did anything wrong.

**Greg** · 11-27-2009, 07:32 AM

You didn't say if you had any contingencies in your offer, what your credit score is, how much down payment you had or anything else about the deal. You also didn't mention what the other offer consisted of besides the price or the financial strength of the other buyer.

The purchase price is only one piece of an offer. If your offer contained a financing contingency and the other offer did not then the other offer was better, even if it was for the same price or even a little lower.

I just had a buyer get a foreclosure for $50,000 less than another offer because my buyer had cash and could close in 2 weeks.

Get all the facts before you start pointing fingers.