Broker conflict or potential racism?

Question

So I was watching the MLS like a hawk and found a property that I was really interested in literally within 5 minutes of it hitting MLS. The listing agent's main job is as a property manager, but he sometimes lists properties that he manages.   The listing specifically said that there was a 24 hour notice required to view the property and that only he had the key. To make a long story short, I called right away. The listing agent said that he could not show me the property for two days because he was busy. I said that was fine, set up the appointment and explained that i would act quickly and would be offering cash.  The next day, the guy called and said there was an accepted offer. Is this normal?

I only ask because I also lost out with an all cash "as-is" offer last year. I later found out that both my initial offer and my counter-counter offer were both higher than the selling price. (I offered $230k, they "countered" at $250k and I countered their counter @$235k. According the the accessor's web site, the property property sold for $227,250)

I'm asian with a very asian name. I pretty much never bring the race card into things, but this really does make me wonder.  Should I be wondering? It's really bothering me.

David Zheng · Answer

You should call and make a backup offer just in case.

John Thedford · Answer

@Matt Tang

I would not be in a hurry to throw out racism as an issue. There are several possibilities why you didn't get the deal. I saw an agent NOT send offers to his seller because he was trying to double side the deal and bring his own buyers. Long story short, he did but a guy that missed out on the deal saw the selling price on public records (which was less than his offer), contacted the seller, and seller is now going after the dirtbag agent (which he deserves to lose his license in my opinion). Also was Wayne stated, some people put in offers sight unseen.

A quick note about how people MAY feel discriminated against: I had a man contact me wanting a HML. After he told me he intended to live in the property I told him I could not make the loan. His next statement was "Is it because I am black"? I explained to him that I do not loan on owner occupied properties, but do you see how he jumped to a conclusion that was totally wrong? I am in business..making money..and if it green and makes sense that is my only requirement:)

Russell Brazil · Answer

Sounds like the bigger issue is you don't have your own agent

Thomas S. · Answer

It could be broker conflict, racism or both. You will never know but one thing is for sure both defiantly do exist.

To be prepared to avoid the possibility of both in the future you need to have your own agent working on your behalf. Assume the worst and be prepared.

Austin Fruechting · Answer

In today's market, I often make my offers without viewing the inside of a property and use the inspection/appraisal period to make sure there's nothing crazy.  Brokers and sellers want to disturb the tenants as little as possible. I do my walkthrough at the same time the appraiser does so we're only bothering tenants one time. It's very possible the other buyer was doing the same thing.  So the thing that makes the most sense to me is that they sold to someone that made an offer without checking out the interior.  I don't think that's a conflict or racism.  A bird in the hand...

Matt Tang · Answer

also view the title of my post...."broker conflict OR potential racism". I'm about as big of a conservative as you can find, but I do think that some of us maybe don't think things through before speaking and give the people on the other end of the political spectrum room to group all conservatives in a certain not so shinny light.

Matt Tang · Answer

that's complete crap. I said that I have an Asian name and I'm actually biracial. I'm saying that my "as-is" cash offer basically without any contingencies was higher than the winning offer.

Ok, I concede that it is possible that they did accept another slightly higher offer with an inspection contingency and the buyer later nenegotiated..if they did the listing broker is an idiot. The condition of the property was in horrible and was either a complete gut or a tear down. Just looking at the listing pictures anyone could tell that the property was in a condition worse than 95% of the foreclosures in the area. (No mold and a decent foundation) The value was in the oversized lot and location.

I didn't even speak a word about this for a year. The only thing that made me wonder was not getting an appointment to view a property. As I said before, I asked to see it but the guy listing and managing the property told me that I'd have to wait 2 days since he was busy. I see no possible way that someone else called him before me to schedule a viewing since I called literally within 5 minutes of it hitting mls. Maybe he sold it to a friend....I don't know.

Chinmay J. · Answer

Some of you guys don't realize but if racism is not the first thing that us minorities think of its usually the second thing. Its normal. That's how we are wired. Yes, not everything is racism GRANTED, and I hate to pull the race card myself, but lets not pretend it doesn't exist, and that's why its smart to protect ourselves from it as much as possible.

Here is the reality. Minorities can be racist too, and its usually a lot uglier than what comes from the other side, but at least in most cases its overt.

Chinmay J. · Answer

If you are worried about racism, get an agent and form an LLC.  Let your LLC make an offer. .  And don't get an Asian agent please.. LOL..

Broker conflict or potential racism?

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