Spontaneous generosity

Since the sellers and buyers make their own decisions, based on advice from the brokers, sometimes they do not act in their own financial interests. The process of buying real estate can be seen as a competition between the buyer and the seller. Or it could be a competition between the buyer and all other buyers. Sometimes, it is not a competition at all. Sometimes the seller is happy with what they got and the buyer is happy with what they had to pay.

Here’s an example: I had young couple who had an accepted offer on a home owned by an elderly couple. After home inspection, they asked for an outrageous amount of money back (more than the cost of repairs.) Being a good buyer’s agent, I made the best case for their rebate and presented it to the seller’s agent. About an hour later, the agent called me to say the sellers accepted the rebate request. I said “Thank you.” She said, “Don’t thank me, I told the sellers to throw your buyers out on their ears!” Then the buyers gave the sellers three weeks to move out at no expense. I told about the risks: what if they didn’t move out on time? what if the heat or hot water went out? what if there is damage found after they had left? They didn’t care. Then furniture came with the house; then a party to meet the neighbors...you get the picture.

Sometimes, the seller and the buyer are really, really happy. When that happens, spontaneous generosity breaks out. If you find yourself not taking my advice, I can only hope this is why!

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