I need help from a realtor or anyone who knows about houses!!!!!!!!!!!!?

Question

Two weeks ago, i put an offer to a house, but sadly i lost it; someone else had bought it and gave more money than i did. My realtor had told me how much more money the other people had put into the house. This week, i put an offer to a house that i really liked, but my realtor told me that the other people had put more money than i did, but she didn't tell me how much more. I was wondering if there was a way for me to find out how much more money the other people put than me; you know so i can add more money and hopefully, get the house.

The thing i don't understand is why did my realtor know how much more money the other people put than me on the house that i lost and why she doesn't tell me the more money the other people put than me inthis house that i just put an offer to.

Answer 1

This is sometimes a dirty gimmick or trickthat some

realtors use to get you to pay more, since their commission

is a certain % from what you pay, the more you pay, the

more theyll get, I learned thatthe hard way.

We had a realtor do that to us and we noticed that she didnt

want to tell us how much the other people were offering but

she knew how much, she would hint like well if you really

like the house maybe offer 3-5kmore, so you dont have to

stick with people like that, just change realtors, theyll all have

the same listings, just tell the new realtor the house that you

want and they get the listing.  I just finished taking a real

estate course, just havent taken the test yet, its too expensive

but thats the only way to find out what youre getting into as a

first time homeowner.  Good luck!!!

Answer 2

#1 I don't like how your Realtor works, she should work for you and if she new how much money another offer, she should offer more and try to worked out for you, I understand she lost one offer, but two ....????? Today we don't have so many Bayer's, so to me this is looks fishy, try to work with another Realtor, who is more nalegible and more aggressive, so next time your offer will have priority. Good Luck!

Answer 3

Buy a house directly from a person & not through a realtor next time.

Answer 4

She might not know what the buyer for the second house offered.  I never tell other agents what the sales price is, until my listing closes. Because if the sale does not go through, the other buyer will already know my seller's bottom line.

I am in an area where it is rare (lately) for a home to have multiple offers, when it does happen the first buyers are notified so they can get in on the action, and up their bid.

I hate to say it without knowing your housing market, but it sound like you might need a more aggressive agent.

Answer 5

In my market, bidding wars are happening, and mine isn't a shiny market.  With REO's, the lenders have been kicking back offers and telling the bidders to bring their best offers.  Then they might pick one, or do it again.  

Not a dirty trick, it happens.  Especially with REOs.

After the offers are in and a deal is done, the Realtor can tell you how far off you were.  Now that you are in a negotiation again, they cannot tell you without risking their license.  

This is sort of like watching poker on TV, it is really easy when you can see everyone else's cards, not so easy playing a live table and you cannot see the cards.  You have to do the best you can with the information you have, that is why the Realtor cannot tell you how much to raise your offer.

What I tell people that think I'm doing this to increase my commission, the difference of a few bucks (and it really amounts to just that much difference) isn't worth losing referrals from you down the road, I work to get you the house you want at the best possible price I can.  Period.

Answer 6

She may not know.  The listing agent doesn't usually tell buyers' agents.

Answer 7

Once the house closes the sale is public record. You will be able to find out then.

Answer 8

Something is up.  Bidding wars are rare these days even in the best of markets.

Answer 9

Your realtor probably did not know until you made your offer ... she then presented it to the seller's realtor who then told her about the offer for more money that had already been accepted ....

Answer 10

if you enter into a written agreement meaning you made an offer in writing and the sellers have accepted that offer in writing, then they should not be able to back out and take a higher offer.  That isn't how it works.  We just sold our house, and our agent made it clear that while we did have an offer on our house, we could keep it open to showings and stuff, but could not accept another offer should we receive one that was higher. We decided to continue showing the house in case our buyers loan or whatever did not go through, but understood that we could not even look at another offer if one had been made.  Some people would never get a house if that's how it was done.  I would suggest a new realtor, personally.

Answer 11

Your question requires additional information.  If your realtor is a buyer's agent, he/she is representing you and is required to provide the buyer, you, whatever relevant information she can ethically obtain to properly inform you.  Some states have subagents, meaning that both realtors, the listing agent and the selling agent, work for the seller.  In this case, you as the buyer will only be given whatever information the seller allows the agent to divulge, since both agents represent the seller.  Most states require that the realtor disclose his/her agency status, so find out whether or not you are being represented.

Answer 12

Some good and some bad information below.

You can't always be sure how much a property has sold for until it goes to closing. That's when the information becomes public. (Actually, when the deed is recorded.)

However, it's entirely permissible and ethical for your agent to call the listing agent and ask what the agreed-upon price was. If the sellers allow that information to be shared, the listing agent will tell your agent. Otherwise, depending on the listing agent, they may say nothing, or they may give a vague description like "pretty close to the listing price."

Despite the comments below, there are some bidding wars out there. Most of them can be found in short sales and REOs, but sometimes people will price their properties low just to get multiple bids.

Ask your Realtor about putting an escalation clause in your offer. That way, you're initially offering a certain price (say $200,000), but agree to go up in increments (say $1,000) up to a predetermined level (say $210,000). That will give you a better shot at getting a property.

However, to address another point in your question, if a house is on the market and another contract is submitted, and is ratified (agreed to by the sellers), then you can't come in and try to top their offer. There's already a contract. However, what you can do is submit a backup contract, so that if the first one falls through (maybe they can't get financing, or they're not happy with the home inspection), you're next in line.

Talk to your Realtor about those possibilities.

Good luck.

Answer 13

Your realtor is already in violation of ethics.  The ONLY thing she is allowed to divulge is that there are other offers.  END of story.  She isn't even allowed to tell you that others offered more than you did.  THAT is confidential information.