James Frangella, Monterey, Carmel, Pacific Grove real estate specialist
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Monterey real estate, James Frangella
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I can go forever on this topic.

It never ceases to amaze me that some of my real estate colleagues are so clueless.  Of course, I was that way too until I actually read some of our California Association of REALTOR’s forms and contracts.

See below from a most recent email chatter I received. 

From a buyer’s agent at a prestigious real estate firm: “I am surprised you did not even counter the offer.”

Me (listing agent): “Are you out of your mind?  What do you mean ‘me’?  What part of the second to last sentence in paragraph 7.B. of the listing agreement you don’t understand?”

But my all-time favorite remark is from just about any agent that I chat with, especially the ones that have been in the business for 28 years or more and didn't ask how many offers I’ve received and at what price.

”I didn’t know that!”

This is after I tell them that I’m required to do so IF they just ask.

As far as I can tell, paragraph 7.A.(iii) of our listing agreement has been around for years.  It seems that nobody knows about it or maybe, they never bothered to read it.  That’s scary.

Paragraph 7.A.(iii) is the most important clause for proper seller representation. Our association is really smart.  They have a huge bank of attorneys and experts to create all of our contracts.  They usually know what they are doing.  So any worthy listing agent would realize how really important this paragraph is in obtaining the highest possible price for sellers.  By the way, that is what listing agents are supposed to do. 

However … you wouldn’t believe some of my discussions with other listing agents that will not disclose the number of offers and price.  They tell me they have it in writing from their seller or its office policy or whatever lame excuse they have. But I bet anything they don’t have it in writing that the seller struck that clause from the listing agreement.  I’ll even bet the ranch most listing agents didn’t even explain it to the seller and even worse, the listing agent doesn't know the paragraph exists; let alone the fact the seller didn’t bother to read the listing agreement.

I could write a book on some of the remarks and messages I receive from my fellow agents.  Of course, my snide replies are just hilarious.  As you know by now … I’m always right.