Bernard Laffer

Double ending sale is very tricky business  when there  is more than one offer Recently I wrote an offer on behalf of a client for a house in Dublin,Ca.My client was really committed to purchasing the home and at the behest of the listing agent we offered asking price. Apparently the listing agent met a buyer at the open home who offered cash. The owner of the home was looking to purchase another home but had not purchased a new home at this time. The end result was that my client offered offered substantially above the cash offer,waived the loan and the appraisal contingencies and offered a 3 month rent back at $1000/mo less than his PITI. Despite the favorable terms and the fact that the seller had 3 months to find a home ,they decided to accept the lower cash ofer because of the certainty of it. The listing agent was expected to be impartial and not insert his personal interest into the transaction. I would like to think the best of the listing agent but the circumstances indicate that he influenced his seller to accept the lower cash offer of his buyer. My client is incensed and considering filing a complaint. I have double ended many deals but I do it  when there are no other offers and the house is not moving.I facilitate the sale by reducing my commission This allows the sale to go through with the buyer getting a good deal and the seller not having to pay as much in commissions . I usually drop the overall commission to 2.5% with the buyer receiving 1.25% as a rebate. There are times where I have reduced the overall commission to 1%. My goal is to complete the sale and save my clients money.