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Old 03-05-2013, 01:19 PM   #1
TigBaby
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Broker vs Listing Broker

Hi,
This is the first time I've run into this, and hoping you can advise. I saw a contract on *************** that was interesting, and notified them of my office late last Wednesday. Apparently, this is not their listing. They told me that they have notified the lister of my offer, but haven't heard back from them yet. The lister only works Mon-Fri, so that causes some delay. I've only purchased through TSS in the past, and they were the listing broker. I didn't realize that these sites could advertise another broker's listings. It's now Tuesday, and I still don't have a response to my offer.

Has anyone dealt with a situation where you made an offer through a company that was not the listing broker? How did it go? I'm worried that if they can't even respond to my offer in a timely fashion, that the rest of the transaction is going to be frustrating also.

Thanks!
(By the way, I'm in Chicago and we're getting clobbered by snow. Hence the desire to talk about DVC!)
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Old 03-05-2013, 01:31 PM   #2
Breyean
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FWIW, in my recent dealings with Fidelity, who might be the other broker in your scenario given the working days you mentioned, the agent told me several times when they get an offer from a cobroker it doesn't necessarily get the same attention as one made directly to them.

I guess I see their point since they would have to split the commission so they sort of get around to those when they can, meaning when they have a break from dealing directly with their own customers.
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Old 03-05-2013, 01:48 PM   #3
TigBaby
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Interesting insight. I don't see the contract listed on Fidelity's site. But your reasoning makes sense.
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Old 03-05-2013, 03:08 PM   #4
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I wouldn't worry. Some companies co-broker and some don't.

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Old 03-05-2013, 05:32 PM   #5
bookwormde
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Yes have used one broker as my agent to place an offer on a contract that was listed by a firm that did not have a good reputation for responsiveness (and I did not care for thier settlement company).

It is very common and sometimes you might not even be aware.
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Old 03-05-2013, 06:15 PM   #6
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I think most of the brokers work together when they don't have what a person needs. Just like many companies list with Amazon, Half.com and others for the same item.
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Old 03-05-2013, 07:33 PM   #7
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Your offer should have a time limit. Seventy two hours is a good amount.

This way, if the seller or broker does not get back to you then you can forget about that offer and continue shopping.

The seller who listed with a Monday through Friday broker made a bad choice. His house is off the market when most people do their shopping.
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Old 03-05-2013, 07:58 PM   #8
JimMIA
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Quote:
Originally Posted by Breyean View Post
...the agent told me several times when they get an offer from a cobroker it doesn't necessarily get the same attention as one made directly to them.
I would be interested to hear what some of the professional real estate agents/brokers here think of this. Frankly, that sounds -- if not downright illegal -- at least unethical conduct.

I believe all licensed real estate agents in Florida have an ethical, if not legal, obligation to present all offers to sellers in a timely manner.

To be honest, that sounds like some not-particularly-professional hot dog running their mouth...rather than a true statement.
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Old 03-06-2013, 10:04 PM   #9
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Ironically, I AM a real estate broker in Illinois. So, I'm accustomed to cooperation. But in a regular situation, I'll know who the listing company is. I would agree that it would seem unethical to be slower to present an offer from a cooperating company, but unfortunately things like that happen.

I got an email yesterday saying that the listing company has left voice messages and emails for the seller, and has not received a response. It's now been a full week since I made my offer. I think tomorrow I'm going to make an offer on something else. I saw a couple of contracts (one for AKV and another for BLT) that look interesting. We'll see how it goes.
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