Today was Open House day in Rhode Island real estate and my associate called me up right afterwards in a slight rage and needed to vent obviously.  His clients had come back from open houses and had found the ‘perfect home’.  Yes it was overpriced and I knew the house.  The sellers were totally excited.

The selling Realtor (notice i emphasize SELLING) told his clients that the house would be lower next week, his clients would do a hubbard on their house and his clients could probably get a bridge loan until their two (2!) homes sold. Well he was so furious he could not contain himself.

What was that other Realtor, who did not represent his clients, get off telling them what to do without understanding their indebtedness!?  Well Realtors sell homes right?  Yes, she was overstepping her bounds as a Realtor for sure but what did she care.  All she wanted to do was sell her clients house to your buyers!

His buyers were so excited that they could get a bridge loan because they really wanted the house.  They were all eager to make a higher offer than he suggested (greatly overpriced) because they wanted it and could lose it to another buyer.

Not so fast he says to them as they pant breathlessly.  You are over $600,000 in debt, retired and one of you went through bankruptcy.  Who is going to give you a bridge loan at a reasonable mortgage rate do you think?  He said their was a chance to breathe then.  They stayed still and said well the other Realtor said it would probably not be an issue.

Please clients Keep Your Finances to Yourself when talking to other realtors that do not represent you.  It is so important that home buyer’s advice for you as a client comes from Your Realtor and not someone that is just SELLING!

Your finances are confidential and not to be shared with another Realtor than the one representing you.   Revealing your personal information gives the other side an edge when negotiating the house of your dreams.  Home Buyer’s Advice for A Client From You?!

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