I live in a VHCOL. A condo has been sitting for 90 days, originally listed at 1.2, before slowly being dropped to 1.16, then 1.08, now finally 995k.
We offered at 950k the day after they dropped to 995k and were told:
"$950,000 is not a price point that my sellers are willing to consider. If we not be able to sell at or above this new listing price in the next 2 weeks, then we will rent the property for the next 12 months and review things again in 2026. "
Another week passed, still no sale. We want to send a second offer a 980k. Our realtor is refusing to send the offer. They're very strongly pushing back because:
1) They very strongly believe anything below asking won't be accepted.
2) The sellers of the condo also own the downstairs unit and my agent worries pressuring them to sell, even if they accept, will result in animosity that harms the long term health of the condo association.
I feel that their communication of this risk is appreciated, but they're wrong to esssentially refuse to submit the offer. I feel theyre wrong to do this because:
1) They cannot know, definitively, that the offer of 980k won't be accepted. The harm of them rejecting the offer is non-existent, while the benefit of them accepting is we get a house in our budget.
2) I feel the concern on my agents part of future animosity is misguided. They would be under no obligation to accept the offer, and if they did it seems likely to me that there would be no animosity directed towards us.
My wife likes our realtor, and i generally do as well but feel this is crossing a boundary and am considering terminating our buyers contract. Before doing so, I wanted the crowd mind to evaluate if i'm being unreasonable/irrational in feeling that this inappropriate behavior by my realtor.
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source https://www.reddit.com/r/RealEstate/comments/1krh6jd/buyer_is_my_realtor_failing_to_represent_my/
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