Making decisions for a client and not thinking in their best interests creates some serious thoughts in my head as to what their agenda is. Questioning what we do not know allows us to get an opinion "outside our own thinking" and could possibly save you a slap in the face when violating our Code of Ethics.
When presenting buyers OR sellers in transactions I see both sides of the transaction and act responsibly for each side I'm representing. Experiencing both sides allows me to step in the other side's shoes and look from a different perspective.
So, I'm calling around for showing appointments and the seller's agent answers the phone (whoopee!). I request a showing appointment and right off the bat he says, "The seller is NOT accepting VA Loans".
Are you serious?????
Those of us that have worked with Hawaii VA Loan Transactions KNOW that they are great loans for the Hawaii Military Relocation clients. I ask the agent why the seller will not accept VA Loans and he says, "The seller just doesn't want to accept VA Loans". I think to myself, "Okay, your loss".
A well qualified buyer is a well qualified buyer.
How about this? The Loan Officer is eating the costs of the VA non allowables for the buyer so the seller does not have to pay those fees for the buyer. The buyer has minimal debts and unreal credit score and their income is wonderful.
When clients are not educated properly (by us) or newer agents do not get the proper information it creates a breach in fiduciary duties to the client....and the agent looks like a fool.
Okay folks. I'm having a real hard time with this one.
- What would the agent have done if it were their own property on the market?
- How about if they are representing the buyer?
- Tell the buyer to accept that they can't see the property because they are using their VA Home Loan Benefits????
Any Thoughts??????? How about suggestions for newer agents?
Be Akamai (Be Smart) and get your edumaction.
~~~~~~~~~~~~~~~~~~
Celeste "Sally" Cheeseman is a Realtor-Associate with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocating to Hawaii, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents. Website: www.hawaiihomesmarket.com 
Celeste "Sally" Cheeseman is a Realtor-Associate® and Certified Residential Specialist (CRS) with Century 21 Liberty Homes in Mililani, Hawaii. With a sharp understanding that a listening ear is the key to a client's needs she serves the island of Oahu (Honolulu County) and all Hawaii Military Relocations, Hawaii Retirees, Hawaii Job Transfers and Hawaii Residents, Home Buyers and Sellers.
© 2007-2012 Celeste "Sally" Cheeseman's Hawaii Real Estate and Relocation Blog.
All rights reserved.
Sally...
I have my theory that it is not about the money ... but that would be speculation. Sounds like this person has something against the military.
Sally;
Quite often you'll find that you have to educate the other agent in the transaction to get the job done.
I would have asked the agent "Why?" and then worked on overcoming the objectives. I work a lot with VA buyers (McChord/Ft. Lewis) and find that some listing agents have it in their mind that a VA sale requires too much of the seller.
I can't let that kind of attitude interfere with my buyer's desire to purchase.
Richard: Don't know the exact why but funny how the agent right off the bat said no va loans.
Larry: I work with MANY VA Buyers as well. Without going into too much detail I diid state in my post that I asked why. There was no reason but that the seller didn't want to....How many times can one ask without getting an answer :) I didn't let it interfere... we just went on our merry way and put in an offer for a really nice townhouse.
I'll never figure people out. But our listing agreements have boxes to check for FHA and VA, regarding whether or not the seller is willing to accept these types of loans. And MANY times they won't accept FHA, which is somewhat understandable, but they often lump VA in with it. You are correct though. It's our job to educate them. A little education can go a long way. =)
I will tell a "buyer " this or that property in the current conditions will not qualify for a VA or FHA loan -- if your client can fund the required repairs to qualify the loan then YES PLEASE GO AND SHOW>
I don't have any idea what a VA Loan is, or how they differ from any other loan, but if the buyer is qualified, and the bank has approved the buyer, doesn't the seller get all their money anyway?
What's the difference what kind of a loan it is, if the house ends up sold in the end?
Isn't money out of a VA loan/mortgage, the same colour as money out of any other kind of mortgage?
Lisa: WE have the same....but half the time they will accept and don't have it checked either. In this case there was no explanation why...and when we sit down with the seller we educate them on the different types of loans....there is no reason I can think of except it they have non permitted....beat up homes...which this one was not.
Eric: And if it's a nice property like this one is?
Sylvie: They sure do. It sure is :)
They just don't get it. Maybe the listing agent had an encounter with a VA loan, and some of the requirements were a problem, or a buyer didn't get approved...the only person that should be counseling a seller on the right loan to reject is a mortgage person, or lawyer, when it isn't clear (as in this case) to the listing company. I find it hard to believe that the seller came up with that, but could be mistaken...you'll find a way to make this work, but it's appalling, some of the hoops that have to be jumped in a market begging for buyers! With a nearby military base, right?
I would have ignored his comment and went right on and showed the property. IF my buyer were then interested I would submit the offer using the VA and THEN spent time selling it.
I have no reason why anyone would not allow VA, FHA or any other financing as long as the property qualifies. Makes no sense to me.
laurie: I find it hard to believe as well. Oh, we went another route anyway.
BB: We can't ....we have to follow instructions...which is to call the agent in this case. Makes no sense to me either....and so....are they thinking in the best interests of their seller?
It is hard to beleive that in this market ..... how agents lose focus on doing the best job for your client while looking out for their best interest.
Sally I have never understood why a Seller would care what Loan Program the Buyer is using as long as they are qualified to purchase a house with that program. The color of the money is the same.
Sally, its obvious that the listing agent is not aware of the VA lending process. After all, a VA loan is almost a sure thing for the seller. Perhaps you could suggest that your favorite lending or escrow company conduct a VA loan class for continuing education credit.
Sally sounds more like it was a loan product the agent did not like, and had encouraged the seller not to accept. Maybe he will read your post and get the hint :)
Sally, Could it be that they don't know the process since they were so quick to reject it" They must be different and I'm guessing they don't have a clue or it's more involved and don't want to deal with it.....shame on them!
Aloha Sally,
So true, so true. Just had it happen yesterday when an agent "got in the way" of the transaction.
Sally, So I wonder if the seller really said no VA or was this the words of an inexpereinced listing agent that may not know the details and specifics of this type of finance and therefore wanted to avoid the unknown.
Many agents feel that they can speak for their clients and sometimes as in this situation they can be causing the seller to not sell their property to someone that has the financing in place.
I just had an offer rejected in a multiple bid situation and the seller never asked for highest and best. I think the agent chose not to advise the owner of the option and just told them to accept the best of the initial offers. I wonder who's offer it was and if this was an inexperienced agent who just did not know any better or an agent who wanted the whole pie and got her own offer accepted. In who's best interest was the listing agent working??? Good post Sally and timely in my case too.
Sally, I would have been tempted to suggest to the agent that he/he explain to the seller that discrimination is against the law in this country. Not only is it discrimination to eliminate a group of people based on their financing, it's just plain ignorant. I would try calling the agent's broker of record to see if you can plead your case there. It may be the seller, who may be remembering old rules and regs and difficulties with VA loans from many years ago, but more than likely it's just an inexperienced agent coloring the seller's thought processes.
thanks for your responses! Will be back to answer...doctor appt ...bad cold.
Sally, I think some people are still operating under the old VA loan assumptions. There was a time, as you know, when they were more difficult - took longer, Sellers paid more costs, and VA appraisers were really tough. Same with FHA. Those days are gone. If this is a new agent, then they may have an 'old school' broker who hasn't kept up with the times. If that were done in our area, it would be cutting out a sizable portion of the market. We have a base 5 miles from my house.
Sharon
Sally..That is not a very smart agent..you can sell one of my listings any day of the week..Great blog hope you feel better
HelpfulHannah your friend in Philadelphia
Hi Sally! As you said--their loss but, I'm wondering too, if the listing agent has made that statement with the full permission of the seller. Could be that, in passing, they made a comment to that effect but, didn't mean it?? I just can't imagine turning down a good buyer--not now, not ever!
I would have presented the offer anyway isn't that our job! Then the agent could have explained to his client all of the benifits! His first concern should have been showing the home.