Selling Agent is Executrix of Estate

8 Replies

Hello everyone,

I am interested in a property where the Listing Agent is the Executrix of the Estate. I submitted an offer through an agent that showed me the property, of which after I submitted the offer, my agent told me he thought the ARV was actually 30k less than what he originally told me before I made the offer. This rubbed me the wrong way.

However I made a lowball offer and was countered by the Executrix, my question is, can I contact the listing agent (Executrix) and make an offer through her directly ? She would obviously get my commission then from the purchase.

Thanks,

Jaron

Hi Jaron. If the time limit on the Counter Offer has expired...your current offer is dead. Unless you signed a Buyer Broker Agreement with the Agent that wrote the offer for you, you are free to use the Agent of your choice.

However; it sounds like your Agent was being honest with you and disclosed information to you as soon as he could.  Go with the Agent that you have confidence in along with a good feel for their experience, knowledge and integrity.

Nope, the local mls rules will determine your agent as the procuring cause, regardless of whether your offer was accepted. And really, you'd be happier if your agent just kept his mouth shut on correcting his ARV estimate? You think you'll get better representation from the seller?

Nope. Procuring cause. You can hire any agent you like, but you may need to pay them yourself.

@Wayne Brooks

So you’re saying no matter who I put an offer through with this agent would still get the commission? But I’m happy he corrected it but I would’ve liked the correct answer the first time, let alone before I submit an offer.

@Jaron Smith Yes, your agent will be the procuring cause.  I don’t know why your agent had 
such varying estimates...it could be the selection of incorrect comps, but it does show concern for you on their part that they followed up, and corrected their estimate, as opposed to just letting it go through to collect a commission.  I assume you had an inspection, or other, contingency and in any case since your offer was countered you have no obligation.

In any case, I believe you are best served with your current agent....many would not have come back to you with a lower corrected ARV....which was straight up on their part.

Originally posted by @Jaron Smith :

@Winston Covington

Never signed an agreement with this agent. I was just baffled by the the spread on the ARV's given to me. In my profession we do it once and do it right, not just spew up a guess just to have an answer.

You should not be getting your ARV from your agent to begin with. Thats your job to come up with it. You can ask if they agree with your assessment. If you are relying one someone else to come up with this number for you, there is a 100% chance you will end up losing a substantial amount of money on a flip.