Called and spoke with listing agent. She explained they had 2 NC offers on table. She told me a ballpark on price to be compete. Tried to get agent to draft and submit offer on my behalf no luck.
Called next day, she said one buyer is aggressive and given her listing post close, all cash, NC, clean terms. I said thats fine, we have not even discussed my offer as you have not drafted anything for me. and she will rep that other buyer too.
Simple put, I said I will match their terms and come up in price. She still hesitated and said well maybe, but then would have to tell the other buyer, they will come up in price and then we will go back and forth.
Note: she has never worked with the other buyer, but I guess she likes them more.
Not just completing other investors for properties but now completing with agents to even submit offers.
Property Location: Los Angeles, CA.
In my opinion, I don't think she's being ethical to begin with. If she's juggling multiple offers, she should either 1 - remove herself from representing any buyers and refer them out to another agent (can take a referral fee) or 2 - have a managing broker or someone licensed within her firm handle the negotiations directly with her seller (with all offers being sent to that person). Thus, removing herself from ever seeing any of the offers and giving her the ability to represent a buyer as well.
If it's a newer agent, they likely don't know what to do and thus you're getting the weird responses. If it's a seasoned agent (which I doubt in this circumstance), they seem shady and I wouldn't do business with them to begin with.
Just my 2 cents.
I agree with Jake. That listing agent is not acting ethically at this point. If there are multiple offers and negotiations need to happen, her fiduciary responsibility is to her clients...how can she do so if she is representing more than one? Simply, she can't, but I'm sure you've seen enough agents out here to know that we are not all created the same. In this market, I'm surprised the other buyer is even working with her as the listing agent. It's so unnecessary and doesn't get you any benefit.
I say get your own agent. Don't ever mess with the listing agent. They're representing the seller, not you. Some people think they might get a better deal or more inside information from dealing with the listing agent, but I've never found that to be true, although I'm sure it happens occasionally. More often than not I see buyers taken advantage of. This deal is probably over though, because now if you go get your own agent to write the offer, the listing agent is going to be mad you didn't buy through them and maybe write you off. Still worth a shot though.