Thread: New Generation of Realtors part 29: Buyers Agent learns valuable lesson on having eve

We received an offer on one of our listings which was sent to us two weeks ago. The offer was incomplete and I asked the Buyers Agent to send us a Pre-Qualification letter as well as a copy of the escrow check.
In the meantime, I told the agent that I`d contact the seller and explain the offer. The home is listed for $194,000 and is located in Silver Springs, Florida.
The owner countered initialed the offer and i faxed it back to the other agent. During the next 4 days, i repeatedly called the agent, faxed them in regards to the counter offer.We heard nothing back.
During this period, we received another offer from a different agent, the owner decided that the offer was alright, signed the offer and we executed the contract.
The home was placed on the MLS as "Pending Sale".
On Saturday, I received a call from the 1st agent berating me, for selling the home out from under her client! The agent kept telling me that she was working with the buyer to secure a pre-qualification letter that we requested. I explained to her that a P/Q letter doesn`t take 2 weeks,unless her clients aren`t able to properly secure financing!
The conversation is as follows:
Me: I attempted to call you 4 different times, faxed you twice, about the counter offer, heard nothing back from you so I figured the offer was kaput!
Agent: No,No, No, we`ve been trying to get you a "Pre-Qualification" letter that the seller requested. My buyers want that house! It`s not fair!
Me: Fair? What`s not fair is that you sent us an offer for a buyer that may not be able to purchase the house! What did you expect? It`s been two weeks! The seller took another offer!
Agent: What do i tell my buyer now?
Me: Tell the buyer the truth. Next time you write an offer, have everything in order so a that you`re client knows in advance the steps to buying a home!
The truth is that when dealing with a Buyer,irregardless, there are certain steps that as a Realtor you must complete.
Step one is to qualify the buyer before making any offers, in order to insure that the buyer can actually purchase a home!
The rules of Real Estate are simple, "Those who have everything in order win". I wished the other agent the best of luck and hope that her buyers are able to secure a P/Q letter soon!