Posted by Asif on January 20, 2006 at 14:36:10:
It happened to me as well. I was interested in the retail strip. I call agent yesterday to have a look at it. He told me he can only show it to me at certain time as other investor are coming in to have a look at it at that time. I can not make it as I have other commitments.
I will wait for a week and call back to see if it is still available.
Should This Bother Me? - Posted by scbuck
Posted by scbuck on January 09, 2006 at 09:07:33:
Yesterday I went to inspect several duplexes that are up for sale in our community. They are partially occupied and need major work. I went prepared with my clipboard and checklist for a very detailed inspection of the properties, which to me seems the minimum you must do before even considering whether to make an offer. How can I make a bid if I don’t know what kind of repair costs we are looking at? I arranged a time with the listing agent to have a look-see.
As it turns out, the agent has invited a bunch of different potential investors to look at the properties - we all show up at the same time. Furthermore, we are given cursory looks (5-10 minutes)before going to the next property.
I was fairly offended that this agent would be so lazy as to group all her appointments together. I really dont want to be looking at these buildings with a bunch of other potential competitors. Is this standard practice, or bad form for a real estate agent?
nahh, the agent must read this newsgroup! - Posted by ray@lcorn
Posted by ray@lcorn on January 09, 2006 at 17:24:43:
I did exactly the same thing selling a property a couple of years ago and wrote about it here then, and mentioned it again in September 2005…
See this post: http://www.creonline.com/commercial-real-estate/wwwboard5/messages/18013.html
Now granted, I wrote that from the seller’s perspective, and the tactic worked like a charm. To do an end run around the circus, have another agent ask for a private showing.
However, be aware that if interest is high there may be the same concern of disturbing the residents. And also the same situation of bidding getting out of hand.
ray
Re: Should This Bother Me? - Posted by Sailor
Posted by Sailor on January 09, 2006 at 16:17:37:
This agent is creating a buying atmosphere for her seller, & it is probably a smart move for the seller to hire her. Either make an appt for a 2nd look, or make your offer contingent on inspection by you & by a commercial inspector. Even after you have a signed deal, you get to renegotiate based on your inspections. I like doing this because, as a buyer w/a contract, I’ve got more leverage than as just another “investor” who’s trying to knock down the price. Not only does my seller already have “his” $$$ mentally spent, but w/my inspection report (which should include photos) I’ve got official back-up that there are problems w/the property. That’s how I got my seller to fully pay for the new roof under which I am now sitting.
Remember, this isn’t personal. It is business, & getting the deal done & done right is what is important. If you take the time & effort to be easily offended, you could lose the whole thing.
Tye
Re: Should This Bother Me? - Posted by Patti Porter
Posted by Patti Porter on January 09, 2006 at 09:14:32:
I wouldn’t let it bother me. The listing agent works for the seller. Therefore, their job is to get as many potential buyers as possible to the property.
You can get a buyer’s agent to show you the properties. This agent works for you and will be able to give you more time.
Patti
Re: Should This Bother Me? - Posted by brandon
Posted by brandon on January 09, 2006 at 15:43:50:
I STRONGLY recommend you make an appointment with another agent if you are still interested in these properties.